Nasibu Sareva, the Chief Financial Officer (CFO) at the African Development Center (ADC) has been named Interim Executive Director by the center’s board following the August 25 death of Hussein Samatar after complications arising from Leukemia. Samatar was the center’s founder and executive director.
Sareva, a native of Tanzania, has since May been in charge of operations at the center which is when the late Samatar underwent a bone marrow transplant. He has been assisted in that role by ADC’s Communications and Development Director, Matthew Holm.
The board action this week formalizes the arrangement and names Sareva and Holm as executive director and deputy director respectively.
Other than the intense scrutiny that comes with being executive director of a now larger than life organization as ADC due to its groundbreaking innovations in immigrant loan financing, Mr. Sareva’s assumption of his new role should not be new territory to him. For the latter half of the late Samatar’s tenure at ADC, Sareva has been the chief financial spokesperson for the organization and assisted the late Samatar in strategic and tactical matters while also overseeing the organization’s lending operations.
A statement from the board which is chaired by Mr. Bamson Fadipe sent to Mshale said “ADC Board convened to make a decision for interim leadership of the organization, as well as create a road map for the process of determining the new leadership necessary to not only maintain, but build on the successes of such an important organization within our state.”
Stating that charting the course ahead following the loss of its founder will not be easy, the board however expressed gratitude and appreciation for Samatar’s foresight in seeding the organization “with a deep bench of dedicated practitioners ready to continue this crucial work for Minnesota”. Matthew Holm, who becomes interim executive director under Sareva, has since joining procured nearly $2M in funding.
Before coming to ADC, Sareva worked at PricewaterhouseCoopers as a Field Researcher. He has a BA in Accounting from the International Islamic University in Malaysia, and an MBA in Accounting from Lincoln University in Jefferson City, Missouri.