John Ngumi now chair of Alternative Circle, developer of Shika mobile loan app

The Board of Alternative Circle has announced the appointment of John Ngumi as the Chairman of Alternative Circle with immediate effect.

Ngumi has over 35 years corporate and investment banking experience, and has recently retired from the Standard Bank Group in East Africa, where he served as the Director of Investment Banking Coverage Division for East Africa.

(TOP: John Ngumi, incoming board chair, Alternative Circle).

During his career, Ngumi worked variously for Barclays Bank, Citibank, Grindlays Bank, National Westminster Bank and Standard Bank Group. He also co-founded Loita Capital Partners Group, one of Africa’s first locally-owned independent investment banks.

He has been at the forefront of the development of financial markets product & services, and of the accompanying regulatory frameworks, in Kenya and East Africa. He was also critical in the most significant debt and equity transactions.

Ngumi has also served on the boards of government institutions. He is currently the Chairman of Kenya Pipeline Company where he’s served since July 2015. He previously served as Chairman of Konza Technopolis Development Authority until July 17, 2015. He was also a non- executive Director at ARM Cement in 2016. He holds Bachelor of Arts (1st Class Honours in Philosophy, Politics and Economics) from St. Peter’s College, University of Oxford, UK.

Alternative Circle was founded in 2016 with a dream of revolutionizing financial technology industry. Alternative Circle closed a seed round of US $1.1 million from CreditInfo in 2017 and this enabled the expansion of the company. The strategic partnership with CreditInfo gave Alternative Circle access to over 200 developers and 25 data scientists, making it easier for Alternative Circle to become the leading Financial Technology Innovator in the country.

Alternative Circle’s first product, Shika is a Kenyan Built Mobile app made for individuals who want to access quick micro-loans, in an easy and fast way.  The application is also built for Financial Institutions that can use the platform to reach potential borrowers. The app is currently available on android.

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