Regulated by

bfc Board and shareholders
bfc Board of directors

Noel Nkoma

Board Chairman

Noel Nkoma , founder and vision carrier of BFC is a seasoned banker with 29 years experience in the finance sector. He previously worked at Finance Bank Zambia from inception until 2010, during which period he held various middle and senior management positions. A Chartered Arbitrator, he holds a Higher National Diploma in Business Administration from West London College (UK) and Master’s degree in Business Administration International Management (London) Noel is Board Chairman for TAP (Zambia) Limited, and Chairman form Zambia Credit Reporting Alliance (Zam-CRA).

Tue Nyboe Andersen


Tue Nyboe Andersen is co-founder of Kukula Capital and has been heading the company since its establishment in 2009. Previously he worked as an analyst in Lundbeck Fonden, a large Danish institutional investor as well as an independent consultant. Tue holds a Master of Science Degree in Economics from University of Copenhagen, Denmark and Harvard University, USA, specialised in emerging market investments. He serves as a board member in a number of Zambian companies including Kukula Capital, Post DotNet, Foxdale Court and More Beef.

Jito Kayumba


Jito Kayumba is a Parter at Kukula Capital and leads deal organisation and infrastructure advisory. Jotialse serves as an Independent Director on the Board  of Airtel Networks Zambia Plc and is Chairman of the Audit Committee. He is often called upon by the United nations Economic Commission (UNECA) to participate in the formulation of Investment and Finance policy and to speak at high-level global fora. Jito holds a Political Science degree specializing in public Policy and Corparate Governance from Concordia University,Montreal, Canada.

Francis Mandona Mwape

Chief Executive Officer

Francis is a qualified professional with over 10 years of experience in Corporate finance, Investment banking and SME financing. Francis has over the last 8 years whilst working for the Focus Group raised over $70m. Francis has experience in strategy, policy formulation and implementation. 

Mr. Mwape has held positions such as the Pensions Officer, Finance Officer, Managing Director and Head of Finance and Treasury. He has previously worked for AON Zambia and United Bank for Africa. Francis holds a Bachelor of Accounting from the Copperbelt University and is a National Accounting Technician from the Zambia Institute of Chartered Accounting.


Advisor to the Board

Johnny Ohgron Hansen is a seasoned  investment executive with over 25 years emerging market investment and consultancy experience with focus on driving individual and team’s performance, through the development of holistic innovate alternative investment solutions, delivering value to shareholders and board.

Johnny holds a Master of Science in Economics & Mathematics from Odense University. In 2009 he founded Investpire, a boutique investment consultancy house aimed at bringing investors and projects together to create an impact through investments in Africa.

Mabel Mungomba

Adviser to the Board

Mabel Mungomba has more than 18 years’ experience in private sector business management. Currently she serves as an independent consultant in Business Management, Change Leadership and Organizational Development and Facilitation.

Mabel has an degree in Business Administration and Finance from Copperbelt University of Zambia, three post graduate qualifications; Chartered Marketing diploma from Chartered Institute of Marketing, U.K, MBA in Multinational Finance and International Business, and Cross-Sector Partnership qualification from Cambridge University U.K.


bfc shareholders
Our Share holders include.

Kukula Capital PLC is a leading venture finance and private equity firm in Zambia, and is regulated by the Securities and Exchange Commission of Zambia.

Kwitala Finance Company is a private investment company, involved in diverse portfolio investments in real estates, stock market, and mergers and acquisitions.

Barons Limited is a private firm, which has interests in development consultancies, finance and property development.

Kukula Seed Fund works to actively incubate start-up companies to create financially viable medium to large sized companies, which provide long-term job opportunities and positively impact the growth and financial diversity of Zambia. Kukula Seed is a sister company to Kukula Capital.

bfc individual hareholders
Other shares are held by individual Zambians, who share the vision, values and ideals of BFC and have committed resources and time to ensure that the vision is realised.