Caracal Gold PLC (LSE:GCAT), the gold producer with operations in East Africa, has appointed H.E. Ambassador Hon. Dan Kazungu, EGH as a non-executive director.
Ambassador Kazungu joins the board of Caracal after serving as the Kenya High Commissioner to Tanzania.
According to Caracal, he is credited for resetting Kenya-Tanzania relations to its current, elevated level and transforming business and investment relations between the two countries.
Prior to his diplomatic mission to Tanzania, Ambassador Kazungu served as Cabinet Minister for Mining in the government of Kenya, where he drove mining and business reforms, which saw the country's global mining ranking improve from 125th place to 83rd in just 12 months.
During his tenure, the mining sector rose to become one of the top three growth sectors in Kenya's economy.
Ambassador Kazungu also served as Member of Parliament for the Malindi constituency for a three-year period, where he successfully lobbied central government to build vital regional infrastructure links including roads, an airport and school - opening up the area to economic prosperity.
"We are delighted to welcome Ambassador Kazungu to the board at what is a crucial time for Caracal as we enter the next phase of our growth trajectory,” said Caracal chief executive Robbie McCrae.
“His wealth of experience in the region will be critical in helping us realise our ambition of becoming a major gold producer and mine developer in East Africa. Our Board is now more robust than ever, following the recent appointment of mining ESG expert Rachel Johnston as a non-executive Director. With the gold price edging past highs of US$1,940 per ounce in the past week, the time is right to advance our gold strategy."