By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Oscar Onyema, chief executive officer (CEO) of the Nigerian Stock Exchange (NSE) has now emerged as the president of African Securities Exchanges Association (ASEA), a statement from the NSE said on Tuesday.
According to the NSE, the decision was reached at the executive committee meeting of ASEA after its 18th annual general meeting (AGM) in Diana, Kenya.
Sunil Benimadhu, out-going president of ASEA and CEO Stock Exchange of Mauritius said he welcomes the newly elected president and committee members, and look forward to ASEA’s continuing progress as it seeks to enhance the global competitiveness of Member Exchanges.
Onyema the new ASEA president affirmed he is honoured to be elected president of ASEA which is the largest platform for Africa’s stock, futures and options exchanges.
“I would like to thank the outgoing executive committee led by Benimadhu for their stewardship of the Association over the last two (2) years, and looks forward to working with ASEA members, global counterparts and regulators to contribute to the association’s rich legacy, as well as to promoting our markets in a broad range of areas,” he said.
The new ASEA president in supporting the Association’s mission and vision highlighted four (4) key strategic objectives that the new executive committee will focus on to support the effective mobilisation of capital for economic development.
These include strengthening ASEA’s governance, financial and reporting framework, promoting the sustainable development of African capital markets, facilitating an increase in market access at the regional level, and promoting cross-listing among African exchanges, and aligning the goals of African capital markets with those of the African Development Bank (AfDB).
Members of the new executive committee of ASEA are the Bourse Régionale des Valeurs Mobilières (BRVM), Casablanca Stock Exchange (CASA), Egyptian Exchange (EGX), Johannesburg Stock Exchange (JSE), Lusaka Stock Exchange (LuSE), Nairobi Securities Exchange (NSE), Nigerian Stock Exchange and Zimbabwe Stock Exchange.
Karim Hajji, the CEO of Casablanca Stock Exchange, is the deputy president of the Association.
