Development Partners International (DPI), an Africa-focused investment firm, has announced that Sofiane Lahmar, who has been a senior Partner at the firm since joining in 2010, has been appointed Chief Executive Officer, effective April 1, 2026.

Lahmar succeeds Co-Founder Runa Alam who will become Non-Executive Chair. 

Alam co-founded DPI in 2007 with Miles Morland and served as CEO for nearly two decades.

Alam and Lahmar have worked together for more than two decades, including sixteen years at DPI.

During that period, Lahmar has helped grow the firm significantly, led DPI’s investment activities, built trusted relationships with investors and management teams across the African private equity ecosystem, and supported the growth of leading African businesses.

Lahmar has also played an active role in nurturing talent at DPI, helping to build its 10-strong group of second and third generation partners with an average tenure of more than 10 years at the firm.

DPI enters its next chapter with strong momentum. Since 2024, the firm has delivered a record cycle of realisations, generating over $1 billion in proceeds for investors notably through two major African IPOs – Optasia (JSE) and CMGP Group (CSE) – and a $200 million exit from Atlantic Business International (ABI).

DPI has a significant pipeline of investment opportunities across the continent, focused on key growth sectors of the economy such as consumer and retail, financial services and healthcare. DPI recently closed a $190 million investment into Alameda, Egypt’s leading private healthcare group.

In January, DPI announced a further $50 million investmentin Kazyon, the largest discount retailer in the Arab world and Africa, to support its international expansion. Last year, DPI also completed deployment of its third flagship fund, African Development Partners III.

“I am deeply honored to succeed Runa as CEO and am excited by the tremendous opportunities ahead of us.  Runa is a true pioneer in African investing. Her vision and leadership have been instrumental in building the firm into a leader in African private equity, and we owe her a deep debt of gratitude,” said Lahmar.

“Looking forward, the firm has an accomplished, talented, and experienced next generation of partners and leaders in place, with a successful and proven investing track record. With Runa serving as Chair, the firm will benefit from continuity and strategic guidance while continuing its long-standing reputation as a strong partner for investors and management teams. As we continue to expand the firm and broaden our capabilities, we look forward to delivering strong long-term value for our investors and generating positive and lasting impact across Africa and beyond.”

Alam said: “Nineteen years ago, we set out to build an Africa-focused platform that delivers strong, risk-adjusted returns while creating lasting impact. In partnership with our investors, portfolio companies and other stakeholders, DPI has become one of the leading and largest alternative asset managers in Africa managing over $3.5 billion. I am proud of this feat and the value we have delivered to our stakeholders, including all the countries and communities where we invest.”

“With Sofiane’s deep commitment to our firm’s values, culture, and history combined with the strength of our partnership and depth of talent across the firm, DPI is well positioned to continue to deliver for our investors. I’m delighted by the continued backing of our investors and look forward to supporting Sofiane as he leads DPI through its next chapter.”

In recent years, DPI has thoughtfully expanded its platform. The firm launched DPI Venture Capital in 2025, expanding the options available to its investors and extending the firm’s ability to back founders building category-defining businesses across Africa and the Middle East.