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Norfund has appointed Naana Winful Fynn as Executive Vice President (EVP) for Financial Inclusion. As EVP she will also be a member of Norfund’s management team. She succeeds Erik Sandersen, who recently assumed the role of CEO.
Naana Winful Fynn has for the past nine years been Norfund’s Regional Director for West Africa, where she has led investments across one of the Norfund’s key regions, as well as the team based in Accra. She has also been a member of Norfund’s Credit Committee for the last five years. She will now take on responsibility for leading Norfund’s work on financial inclusion investments, and become part of Norfund’s management team.
“Naana is a highly qualified leader who has made a strong contribution to Norfund over the past 9 years. I am proud that we are able to recruit for this role internally, and I have every confidence that she will do an excellent job as she steps into this role,” says Erik Sandersen, CEO of Norfund.
Financial inclusion is a core part of Norfund’s mandate, focused on increasing access to relevant and affordable financial services for individuals and businesses in developing countries. Norfund invests in financial institutions such as banks and non-bank financial institutions including larger microfinance entities, as well as fintech companies and other financial service providers to support economic growth, job creation and resilience. The Financial Inclusion portfolio also includes platforms such as Arise and Abler Nordic, as well as funds.
Naana is a management professional with diversified experience in international finance and corporate leadership, including roles at Goldman Sachs, Sagevest Holdings, an investment holding company; CVS Corporation and The Timberland Company. She has served as a board member of the Ghana Stock Exchange and CBI Ghana, a leading cement manufacturer, and as an investment advisory board member of the Ghana Petroleum Funds, the sovereign wealth fund of Ghana. She is also a member of the Africa Advisory Board at Harvard Business School. She holds an MBA from Harvard Business School and a BA in Economics from Vassar College.
“I believe our investments in financial institutions can be transformational in our markets, by helping to provide access to finance to all economic participants and serving as the engine that powers development across all sectors. Too many are still excluded from the financial systems that should serve them. Having worked closely with our investee partners in West Africa, I have seen both how deep the barriers are and how much progress is possible when capital is designed to reach the underserved and work is done to strengthen financial systems. I look forward to bringing that perspective into this role and Norfund’s management team. I will miss our West Africa team, colleagues and our investee partners that I will no longer be working with on a day-to-day basis, but will always carry them with me,” says Naana Winful Fynn.
A process to recruit a new Regional Director for West Africa is underway, and Norfund encourages all qualified individuals to apply.