Oscar N. Onyema, chief executive officer, Nigerian Stock Exchange (NSE), has been elected president of African Securities Exchanges Association (ASEA). This decision was reached at the executive committee meeting of ASEA after its 18th Annual General Meeting in Diana, Kenya.
The ASEA flagship Conference was opened by William S. Ruto, deputy president of the Republic of Kenya, where he emphasised the critical role that the capital markets have to play in Africa’s economic development.
Commenting on the election of the new president, Sunil Benimadhu, the outgoing president of ASEA and the chief executive, Stock Exchange of Mauritius, said “I welcome the newly elected president and committee members, and we look forward to ASEA’s continuing progress as it seeks to enhance the global competitiveness of Member Exchanges.”
In his welcome remarks, Onyema stated, “I am 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 years, and I look forward to working with ASEA members, our 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”.
To support the Association’s mission and vision, Onyema highlighted four key strategic objectives that the new Executive Committee will focus on to support the effective mobilisation of capital for economic development: Strengthen the Association’s governance, financial and reporting framework; Promote the sustainable development of African capital markets; Facilitate an increase in market access at the regional level, and promote cross-listing among African exchanges; and Align the goals of African capital markets with those of the African Development Bank (AfDB).
Source : BusinessDay