The African Risk Capacity Insurance Company Limited (ARC Ltd)  has announced the appointment of former IFC Director Ms Dolika Banda as Chief Executive Officer, effective from 7 September 2016.

She will take the reins from Dr Simon Young, who was appointed CEO in 2014 after playing a leading role in the development of the ARC programme. He will continue to serve in an advisory capacity.

ARC Ltd is an insurance mutual and financial affiliate of the ARC Agency, a Specialised Agency of the African Union.  As Africa’s first catastrophe risk pool, ARC Ltd provides parametric natural disaster insurance to African governments.

A Zambian economist and advisor, Ms Banda has more than 25 years of international banking and financial management experience with a focus on economic development in sub-Saharan Africa.

Most recently, Ms Banda was Regional Director for Africa at the UK’s Commonwealth Development Corporation (CDC) since 2013.

Ms Banda worked at the World Bank Group’s International Finance Corporation for 16 years within its financial markets, credit, accounting and treasury departments. As Director of Financial Markets, she managed the IFC’s financial markets activities across sub-Saharan Africa, Latin America and the Caribbean.

Ms Banda has also held senior corporate and merchant banking positions at Barclays and Citibank in Zambia.

She currently sits as a non-executive director on a number of boards including Ecobank Transnational Incorporated.

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This is interesting for Bitconin Nigeria; Tim Akinbo has great stats.

While @TransferWise was shutting down transfers to Nigeria, Nigerians traded #bitcoin worth 7.4m over the last 4wks.

He added:

Over 90% of that volume are remittances to Nigeria. Two weeks ago, it hit a weekly all time high of ?2.9m

This is just a start but certainly the banks will wish they are getting the fees associated with the inter-boundary money movement. Even Western Union may not be very happy with Bitcoin.

Each of the three crises occurs at a different phase in a company’s life.

The first crisis, overload, refers to the internal dysfunction and loss of external momentum that management teams of young, fast-growing companies experience as they try to rapidly scale their businesses.

The second crisis, stall-out, refers to the sudden slowdown that many successful companies suffer as their rapid growth gives rise to layers of organizational complexity and dilutes the clear mission that once gave the company its focus and energy. Stall-out is a disorienting time for a company: the accelerator pedal of growth no longer responds as it used to, and faster, younger competitors are starting to gain ground. Most companies that stall out never fully recover.

The third crisis, free fall, is the most existentially threatening. A company in free fall has completely stopped growing in its core market, and its business model, until recently the reason for its success, suddenly no longer seems viable. Time feels scarce for a company in free fall. The management team often feels it has lost control. It can’t identify the root causes of the crisis, and it doesn’t know what levers to pull to escape it.

These three crises represent the riskiest and most stressful periods for businesses that have made it successfully through their start-up and early-growth phases. The good news is these crises are predictable and often avoidable. The killers of growth that these crises contain can be anticipated and even turned into a constructive reason for change.