African Potash (LON:AFPO) has added its fourth new board member in the last two weeks.
Lord Peter Hain, 65, will join the fertiliser specialist as a non-executive director from December.
It follows the appointment of former Conservative MP Mark Simmonds earlier this week, and Declan O'Brien and Mark Simmonds last week.
Hain was a cabinet minister for seven years and a government minister for five years, and held positions including Foreign Minister, Europe Minister and Energy Minister.
He is due to become a Member of the House of Lords in November 2015.
Chris Cleverly, executive chairman, said: “His [Hain’s] significant political and corporate experience will provide invaluable support to African Potash”.
Jean-Pierre Conrad is stepping down from the board in order to concentrate on his other corporate interests, the company said.
It comes as African Potash announced a deal with Ecobank Malawi to guarantee payments from off-takers yesterday.
The company is sourcing, delivering and financing fertiliser as part of the agreement to supply at least 500,000 tonnes of fertiliser a year to groups identified and introduced by African free trade group Comesa.
It means AFPO’s investment banking advisor Loita Capital Partners will provide finance, through letters of credit, for the off-takers, so the firm will get paid for its fertiliser.