Africare's Interim Chairman
Stephen D. Cashin
Mr. Cashin is the founder and CEO of Pan African Capital Group (PACG). Established in 2004, PACG focuses on three key areas; investment banking and advisory services, asset management, and private equity throughout Africa. PACG has a portfolio of investments primarily in West Africa, with a significant focus in financial services. PACG also advises US and international companies on investments in the infrastructure, natural resources and other areas across the continent.
Mr. Cashin was founder and has served as Managing Director and head of the Washington Office of Modern Africa Fund Managers, LLC from 1998 until 2004. He was responsible for identifying the majority of the investors in Modern Africa Growth and Investment Company LLC, a $105 million fund capitalized by private institutional investors and leveraged with the support of the U.S. Overseas Private Investment Corporation. Mr. Cashin was integrally involved in identifying and structuring Modern Africa’s investments and management of the portfolio.
Mr. Cashin serves on the boards of International Bank (Liberia) Limited, one of the strongest and oldest bank in Liberia; DataBank, an investment banking group based in Ghana; Feronia Inc, an agricultural business listed on the Toronto Stock Exchange and engaged in acquiring and consolidating farm land and operations in Africa; DiscoveryTel, a communications company carrying traffic into and out of Africa from the US. Mr. Cashin serves on the Board of Visitors of Georgetown University’s School of Foreign Service. He serves on the boards of Africare, Better Way Foundation, and the Jesuit Refugee Service/USA. Mr. Cashin also served on the board of the Corporate Council on Africa as Vice Chair in 2007 and as a board member from 1999 to 2007; and the African Wildlife Foundation as Chair of the Finance Committee from 2005 to 2008. He is also a member of the Trade Advisory Committee on Africa (TACA), the Council on Foreign Relations and the Bretton Woods Committee. He was a senior fellow at the Center for Strategic and International Studies and speaks at numerous events focused on the development of Africa’s financial markets. He has participated in numerous initiatives focused on generating growth in the African Markets.
Mr. Cashin was employed by Equator Bank, a member of the Hong Kong and Shanghai Banking Corporation from 1984-1996. He opened Equator’s office in Nairobi, Kenya, and was responsible for developing the bank’s relationships with central banks, international agencies and corporations, particularly in Ethiopia, Kenya, Tanzania, and Uganda. In 1993 Mr. Cashin was appointed as the bank’s representative in Washington, D.C. In that capacity, Mr. Cashin managed the bank’s relationships with United States governmental and international agencies, trade organizations, and financial institutions. Later he assumed responsibility for managing the corporate finance portfolio of the bank, advising investor groups, structuring transactions, devising new financial products, and implementing privatization transactions. Mr. Cashin began his career as a Peace Corps volunteer from 1979-1981 in Zanzibar, Tanzania. He graduated from the School of Foreign Service at Georgetown University and has his MBA from Boston College.