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Group Chief Investment Officer

Maximizing Investments, Driving Sustainable Growth

The Group Chief Investment Officer (GCIO) at CFG-Holdings oversees the organization’s investment strategies and portfolio management.

Group Chief Investment Officer

Carl Stephen CHIRWA

 He is a Malawian citizen and prominent Pan African investment banker. He has served as Head of International Banking for Bank One Limited Mauritius, Head of Trade Finance for Sub-Saharan Africa with Citi Bank Group, Director and Head of Structured Solutions East-Africa with Standard Chartered Bank Group, Senior Trade Finance Officer for Trade and Development Bank, Head of Corporate Banking with NBS Bank Malawi, and Branch Manager with Stanbic Bank Malawi.

Role at CFG-Holdings

1. Investment Strategy Development
The GCIO designs and executes investment strategies that align with CFG-Holdings’ mission to deliver sustainable returns while fostering economic development across Africa.

2. Portfolio Management
By managing a diversified portfolio, the GCIO ensures balanced investments that mitigate risks and capitalize on opportunities in key sectors, including agriculture, technology, infrastructure, and financial services.

3. Identifying Growth Opportunities
The GCIO actively seeks high-potential investment opportunities across Africa’s dynamic markets, leveraging deep market insights to identify trends, industries, and projects with significant growth potential.

4. Risk Assessment and Mitigation
The GCIO conducts thorough risk analyses for all investments, ensuring CFG-Holdings mitigates potential risks while maintaining profitability and stability.

5. ESG-Aligned Investments
The GCIO integrates Environmental, Social, and Governance (ESG) principles into investment decisions, supporting initiatives that promote sustainability, inclusivity, and positive social impact.

6. Collaboration with Subsidiaries
The GCIO works closely with CFG-Holdings’ subsidiaries to support their specific investment needs, ensuring strategic alignment and synergy across the organization.

Previous Work Experience

Carl Chirwa has over 20 years of experience in international banking, structured trade finance, and corporate banking across multiple regions in Sub-Saharan Africa. Key roles include:

  • Ashcroft & Gray Group (2023–Present)

    • Managing Partner
      • Leads a boutique financial consultancy providing tailored solutions in capital raising, with a focus on ESG and climate-related financing in Sub-Saharan Africa.
  • Bank One Ltd. Mauritius (2018–2023)

    • Managing Director, Head of International Banking
      • Developed and executed the international banking strategy for 15 Sub-Saharan African markets, managing a $1 billion balance sheet and achieving 30% revenue CAGR, 40% asset growth, and 22% liability growth.
      • Pivoted the revenue model from interest income to fee-led income, ensuring sustainable earnings.
  • Citibank N.A. (2014–2018)

    • Director, Trade Finance Sub-Saharan Africa & Trade Head East Africa
      • Managed trade finance portfolios across 11 Sub-Saharan African countries, focusing on corporate and public sector clients.
      • Led product innovation, risk management, and digitization of trade finance solutions in alignment with international regulatory standards.
  • Standard Chartered Bank Plc (2013)

    • Director, Structured Trade Solutions East Africa
      • Originated and structured trade and commodity finance deals for clients in Kenya, Uganda, Tanzania, and Zambia.
  • Trade & Development Bank (TDB) (2008–2012)

    • Senior Manager, Trade & Commodity Finance
      • Structured and managed diverse credit portfolios, including large-scale infrastructure and energy projects in 19 COMESA countries.
  • NBS Bank Ltd. Malawi (2004–2008)

    • Head of Corporate Banking
      • Established and led the corporate banking department, managing a portfolio of $85 million in trade assets.
      • Key contributor to NBS Bank's successful IPO on the Malawi Stock Exchange.
  • Stanbic Bank Zimbabwe (1999–2003)

    • Corporate Relationship Manager & Branch Manager
      • Managed top corporate accounts and led the industrial portfolio for Bulawayo, Zimbabwe’s industrial hub.

Key Achievements

  • Strategic Leadership and Growth:

    • Delivered significant growth at Bank One, driving revenue, asset, and liability performance while transforming the business model to emphasize non-interest income.
    • Played pivotal roles in scaling banking operations across Sub-Saharan Africa for institutions like Citi and TDB.
  • Industry Expertise:

    • Structured and syndicated complex trade and commodity finance deals worth billions of dollars, including $3 billion in petroleum financing and $500 million in soft commodity exports.
    • Successfully managed infrastructure and energy projects, including independent power plants and healthcare financing in Africa.
  • Innovative Solutions:

    • Developed new financial products and services tailored to market needs, including Agricultural Value Chain Financing that supported over 50,000 smallholder farmers in Malawi.
    • Led the digitization of trade finance products, aligning with global best practices.
  • Thought Leadership:

    • Recognized as an industry expert and sought-after speaker at African banking conferences.
    • Advised CEOs and boards on strategic initiatives and global best practices in international banking.
  • Operational Excellence:

    • Established high-performing teams and instilled a strong risk management culture across organizations.
    • Successfully led NBS Bank's corporate banking division to a record-breaking IPO.

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