Appointment
KISNA Appoints Rajeev Toshniwal as Chief Financial Officer as Brand Scales Retail Presence Across Bharat
KISNA Diamond and Gold Jewellery, the flagship brand of the Hari Krishna Group, has announced the appointment of Rajeev Toshniwal as Chief Financial Officer (CFO), strengthening its leadership team at a time when the brand is accelerating retail expansion and deepening its omnichannel presence across India.
In his role, Toshniwal will oversee KISNA’s finance, strategy, compliance and governance functions, working closely with the leadership team to support disciplined growth, enhance operational efficiencies, and strengthen financial systems as the brand continues to scale nationally.
Toshniwal brings over two decades of experience across retail, FMCG and apparel businesses. A Chartered Accountant and Company Secretary, he has held senior finance leadership roles across organisations including Noble Group SA, Think9 Consumer, Raymond Limited and the Future Group, with extensive experience in managing large, multi-location retail networks, improving store-level profitability, and strengthening governance frameworks.
The appointment comes as KISNA continues to expand its footprint through an asset-light retail model, with strong momentum across franchise and shop-in-shop formats, particularly in Tier 2, Tier 3 and emerging markets. The brand has also strengthened its omnichannel capabilities, integrating digital discovery with offline inventory and fulfillment to drive assisted commerce and improve store-level conversions. Alongside expansion, KISNA remains focused on design-led innovation, accessible diamond jewellery, and transparent customer policies that reinforce long-term trust.
Commenting on the appointment, Ghanshyam Dholakia, Founder & Managing Director, Hari Krishna Group and KISNA Diamond and Gold Jewellery, said, “As KISNA continues to scale its retail presence across the country, building a strong and experienced leadership team is critical. Toshniwal’s deep understanding of retail finance and governance will add significant strength to our leadership bench and support the brand’s long-term growth vision.”
Parag Shah, CEO, KISNA Diamond and Gold Jewellery, added, “KISNA is at an important inflection point, with rapid expansion across Bharat and increasing demand for accessible, design-led diamond jewellery. Toshniwal’s appointment strengthens our leadership team and will help sharpen financial discipline, execution and scalability as we grow.”
Commenting on his appointment, Rajeev Toshniwal, Chief Financial Officer, KISNA Diamond and Gold Jewellery, said, “KISNA has built a strong foundation rooted in trust, accessibility and design. I look forward to working closely with the leadership team to strengthen financial systems, support profitable growth and enable the brand’s next phase of expansion across India.”
Appointment
Diamonds For Development Fund Chairperson Announced As Dr. Akinwumi Adesina
Internationally Respected Leader and Renowned Development Economist To Lead The Fund Focused On Powering Botswana’s Economic Diversification
The Government of the Republic of Botswana and De Beers Group have announced the appointment of Dr. Akinwumi Adesina as Chairperson of the Diamonds for Development Fund.
Dr. Adesina is a globally respected leader and renowned development economist with nearly 40 years of experience in African and international development. He served as the 8th elected President of the African Development Bank Group (AfDB), first elected in 2015 and re-elected in 2020, completing his second term in September 2025.
During his tenure as President of the African Development Bank Group, Dr. Adesina’s notable achievements included:
- Increasing the Bank’s capital from $93 billion to $318 billion, the largest expansion in its history.
- Establishing the Africa Investment Forum, which has mobilised over $225 billion in investment interest for African projects since its launch in 2018.
- Launching the transformative High 5s Strategy in 2015, which has positively impacted the lives of 565 million people across Africa.
- Leading the development of Mission 300, a joint initiative of the African Development Bank Group and the World Bank Group, aimed at providing access to electricity for 300 million Africans by 2030.
Dr. Adesina has also received extensive global recognition, including being named Forbes Africa Person of the Year in 2013 and 2019, Africa’s Man of the Year 2022 by EMY Africa, and consistently ranking among the 100 Most Influential Africans by New Africa Magazine. He was also listed among the 100 Most Reputable People in the World by Reputation Poll International.
Honourable Bogolo Kenewendo, Minister of Minerals and Energy for the Government of the Republic of Botswana, said:
“We are proud and honoured to have Dr. Akinwumi Adesina join the Diamonds for Development Fund as Chairperson. His appointment strengthens Botswana’s commitment to maximising the value of its diamond resources as a catalyst for economic transformation, diversification, innovation, beneficiation, and citizen participation in the diamond value chain. We draw inspiration from Dr. Adesina’s achievements as an internationally accomplished reformer and look forward to his leadership in delivering the Fund’s ambitious mandate.”
Al Cook, CEO of De Beers Group, said:
“When we established the groundbreaking Diamonds for Development Fund with the Botswana Government, we knew it would require an exceptional leader to realise our vision of economic diversification and job creation. Dr. Adesina’s outstanding track record in African development, strong governance credentials, and commitment to long-term impact make him the ideal person to lead the Fund. I look forward to seeing him guide this important initiative in the years ahead.”
Dr. Akinwumi Adesina said:
“I am greatly honoured to be appointed Chair of the Diamonds for Development Fund by the Government of Botswana and De Beers Group. This is a bold and visionary initiative designed to ensure that the people of Botswana directly benefit from the wealth generated by diamonds. It is not only diamonds that should shine—the lives of the people of Botswana must shine as well. The Fund has the potential to set a global benchmark for how natural resource wealth can create enduring value for future generations. I look forward to working closely with all stakeholders to build a more prosperous future for Botswana.”
Dr. Adesina will formally assume his new role on 15 June 2026. The Diamonds for Development Fund is currently finalising the appointment of independent directors to its board as the next key step towards becoming fully operational.
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