Impact Investment Company of Shell Appoints New CEO

Shell’s impact investment company, All On, has appointed  Caroline Eboumbou as the new Chief Executive Officer of the company after a broad search and rigorous interview process.

Eboumbou replaces Dr. Wiebe Boer who is now the president of Calvin University. She  will relocate to Lagos and is expected to resume work on September 1, 2022.

“A determined pan-Africanist, Caroline Eboumbou is passionate about private sector and economic development, to which she has dedicated her career. She is arriving from The Rockefeller Foundation as an Investment Director and has worked with the Rockefeller Foundation-funded All On Hub,” All On said in a statement.

“Caroline joined The Rockefeller Foundation in 2018 as a Director based in Nairobi, Kenya. In that capacity, her role focused on driving large-scale impact through the Foundation’s Power investments in Africa, as well as on mobilizing significant financing for extending electricity access globally. With over 600 million Africans unserved by traditional grid infrastructure, she oversaw an innovative portfolio of grants and investments aimed at realizing the full potential of mini grids, while advancing more effective integrated electrification planning and investment across key markets. More recently, Caroline was deeply involved in the strategic design and ongoing implementation of the recently launched Global Energy Alliance for People and Planet.”

Prior to joining The Rockefeller Foundation, the statement informed that Eboumbou worked for the African Development Bank in Tunis and Nairobi, and in private equity focusing on construction and long-term equity financing for solar photovoltaic projects in emerging markets. In these roles, she gained substantial project finance experience and worked on transformative projects to bring electricity to people across Africa. Her project experience spans Francophone and Anglophone countries, and ranges in scope from power generation to transmission projects in both private sector-led and public-private partnerships.

“I am honoured to join All On, a company that has demonstrated its commitment and efficiency as a true agent of change by supporting those delivering services in under-served and un-served off-grid energy markets in Nigeria. I look forward to

working with the All On team, Board, investees and the wider off-grid energy sector to support and develop a dynamic and robust eco-system in Nigeria and beyond for the years to come,” Eboumbou said on her appointment.

On his part, All On Board Chairman, Osagie Okunbor said, “We are thrilled to continue working even more closely with Caroline and confident that her wealth of experience and skills will be an asset to All On.”