APPZone group announces new CFO

The board of directors of Africa’s leading fintech company, Appzone Group, has approved the appointment of Timothy “Tim” Souter as the group’s new CFO.

A seasoned financial expert with expertise gained in Europe and Africa, Tim Souter brings over 15 years of financial leadership experience across multiple industries and sectors including technology, telecommunications, financial services and investment.

Prior to joining Appzone, Tim was a partner at Ethos Private Equity SA, where he was responsible for the origination, execution and portfolio management of the technology and telecommunications sectors.

A UK resident, Tim joins the Appzone group while continuing to manage several other ongoing interests and will regularly commute between Nigeria and the UK.

Mr. Obi Emetarom, CEO of Appzone Group, said: “We are delighted that Tim is joining Appzone. He is a seasoned finance professional with a proven track record of leadership in the financial services industry in Sub-Saharan Africa, and his extensive financial and strategic background, particularly his understanding of how technology is reshaping the financial services industry, will be an asset for us. . “

Tim Souter has over the years built an extensive network in the investment and financial services and telecommunications sectors in Africa, and he has a complex understanding of managing capital structures, currencies and critical stakeholders. Tim was also involved in several non-TMT companies during his time at Ethos, and his portfolio has been tapped and invested in over 10 countries in sub-Saharan Africa.

As an active investor and shareholder, he has also held non-executive director positions across its investment portfolio and served as chairman of various sub-committees over the years.

Tim was a non-executive director on the board of Eaton Towers, an independent tower company with operations in six countries.

Most recently, he served on the board of directors of Echo, a corporate internet service provider, where he was instrumental in expanding the business to eight additional African countries through acquisitions. .

Prior to his role at Ethos, Tim was part of the EMEA TMT advisory team at Macquarie Capital, based in Johannesburg, South Africa and Chicago, USA.

Tim holds a master’s degree in finance from INSEAD and holds the CFA charter. He also holds a Bachelor of Business Science from the University of Cape Town.

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