TEAM

David Addo-Ashong, who co-founded Afina Capital Partners in 2012 brings extensive experience from an investment, corporate and merchant banking career spanning 27 years during which period he has been engaged as a lawyer and a banker in the growth and development of the capital markets and the corporate banking industry in Ghana. He is a seasoned merchant banker who has played a pioneering role in the development of Ghana’s capital markets. This coupled with in depth knowledge and experience in the Ghanaian financial and corporate environment makes him one of the leading experts in the industry in Ghana today. His pioneering role in the capital market activities stands out. He was the manager of the team at Merchant Bank (GH) Ltd. that handled the listing of eight companies out of the initial fifteen companies (including the first 2) that listed on the Ghana Stock Exchange (GSE) at its inception in 1992. He also developed and implemented the Exchanges first renounceable rights issue and went ahead to co-manage the Exchanges first cross border listing in 1994.

 

On secondment to the House Finance Company (now HFC Bank), he became part of the team that set up the company and initiated and developed the securitized mortgage concept in Ghana. Mr. Addo-Ashong during this period played a key role in the conceptualization and setting up of the HFC Unit Trust as the first unit trust in Ghana. Mr. Addo-Ashong was also a member of the team that facilitated the development of the local debt market pioneering the issuance of commercial paper in Ghana during his time with Merban Investment Holdings a subsidiary of Merchant Bank on his return to Merchant Bank.

 

Mr. Addo-Ashong became one of the founders of First Atlantic Merchant Bank Limited in 1994 and was a leading member of the team that set up the Bank and its two subsidiaries First Atlantic Brokers Limited and First Atlantic Asset Management Limited. In his role as the Deputy Managing Director of the Bank he was responsible inter alia for the development of the Bank’s business portfolio from inception and also responsible for the management, development and growth of the two subsidiary companies into strong competitive players in their respective markets.

 

Mr. Addo-Ashong was also responsible for the Bank’s business development and credit functions and in that capacity developed an extensive range of relationships within the Ghanaian business community leading the bank in the development of in excess of 300 business customer relationships. What is notable is that these companies all produced cash flows at levels allowing them to pay annual interest rates that often approached 50% in local currency.

 

As a result of this role he was exposed to a wide range of Ghanaian companies operating in all sectors of the economy and gained a profound appreciation of the issues affecting corporates in Ghana.

 

Mr. Addo-Ashong has a degree in law from the University of Ghana, Legon and is a member of the Ghana Bar Association. He has also earned a Certificate in Business Excellence (CIBE) from the Columbia Business School.

 

Mr. Addo-Ashong lives and works in Accra, Ghana.

 

 

 

 

 

Adam Charles Greenberger is a successful private equity investor, manager and entrepreneur. Drawing on extensive international management, consulting and finance expertise, Mr Greenberger began making principal investments in 2006 and frequently works with businesses of all sizes to help them achieve their growth goals. Mr. Greenberger has developed a strong expertise in general and international management, growth financing and networking and has worked with small and mid sized businesses in a wide variety of industries. He has been traveling to and working on projects and investments in Ghana since 1994.

 

Prior to co-founding Afina Capital Partners in 2012, Mr. Greenberger founded lower middle market private equity investment firm, Albright Partners LLC in 2004. The firm did corporate finance advisory work and progressed to buyouts for its own account starting in 2006. Although Albright Capital Partners is no longer active (allowing Mr. Greenberger to concentrate his efforts on Afina), Mr. Greenberger remains a director of Centersone Linen Services, an Atlanta based provider of linen services to the healthcare industry and on the board of 18 Rabbits, a leading organic foods company. He is also the principle owner and founder (though no longer involved in the day to day management) of successful contemporary art gallery; Charles Bank Gallery in New York. Prior to founding Albright, Mr. Greenberger worked at Deutsche Bank Securities in corporate finance as a member of the Industrials Group, covering companies in the homebuilding and building/home products sectors. In addition to working on a number of middle market M&A assignments, Mr. Greenberger was involved in detailed strategic and financial analysis for numerous LBO's by leading financial sponsors. He also worked on a number of innovative public financings, including cross-border transactions, and had the opportunity to work on a number of projects based in China.

Before working at Deutsche Bank, Mr. Greenberger spent 7 years working for legendary investor Jack Dreyfus at his Dreyfus Health Foundation. While there, he hired, built, evaluated, and worked with local coordinating teams as well as with senior government officials and UN agencies to create multi- sectored development projects in 16 countries in Africa and 4 in Asia. In addition, he led a team in creating a sustainable health information network in partnership with IBM covering 9 of Africa countries. One of Adam's key initiatives in Asia was to conduct a comprehensive program audit, and build new a management structure to oversee over 300 projects across China. Even after leaving Dreyfus, Mr. Greenberger has continued to be involved in the African projects and to make regular visits to a number of the sites. Ghana was the cornerstone and founding office for Dreyfus in Africa.

 

Mr. Greenberger got his BA from Middlebury College and his MBA from the University of Pennsylvania's Wharton School. While at Wharton, he worked with a number of local businesses and taught courses for entrepreneurs as a consultant at the Wharton Small Business Development Center. He also serves a judge for the annual Wharton Business Plan Competition which awards start-up financing to a number of Wharton students every year. Mr. Greenberger is also active in a number of charitable organizations with foucses on education and/or Africa.

 

Mr. Greenberger splits his time between New York City and Accra.