Investing

Desmond-linked African Gold fund appoints new finance officer to drive deal

African Gold Acquisition must use the funds to complete a merger before next March

African Gold Acquisition raised $415 million in March 2021 in order to buy African gold mining companies as a hedge. Picture: Bloomberg

African Gold Acquisition Corporation, the $415-million blank cheque company linked to Dermot Desmond, has appointed a new chief financial officer to help drive through an acquisition, with just four months left to complete a major deal before it has to return its funds.

The company last week announced the appointment of Carl Pombar, a financial consultant who describes himself as having helped to lead a previous company to “combine with a public SPAC company”. A ...