Chief Executive Officer of the Nigerian Stock Exchange (NSE), Oscar N. Onyema, has been elected President of African Securities Exchanges Association (ASEA) at the association’s 18th Annual General Meeting in Diana, Kenya.
He became the NSE president in April 2011 and under his stewardship, the NSE has grown in capitalization and status, with the most recent endorsement of its fledging reputation coming when its was named a member of the World Federation of Exchanges (WFE).
On the regional level, Onyema serves as the Chairman, West African Capital Market Integration Council, Chairman of Central Securities Clearing System Plc (CSCS) and council member of the Chartered Institute of Stockbrokers of Nigeria (CIS).
He has previously served on the ASEA Executive Committee as the Deputy President.
“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 Mr. 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,” Oscar said.
Onyema and the newly elected vice president of ASEA, Karim Hajji, the CEO of Casablanca Stock Exchange, will work with members of the committee to fulfil the mission and vision of the association. They will do this by focusing on four key strategies. These include strengthening the Association’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 promote cross-listing among African exchanges; and aligning the goals of African capital markets with those of the African Development Bank (AfDB).
Members of the committee include the Bourse Régionale des Valeurs Mobilières (BRVM), Casablanca Stock Exchange (CASA), The Egyptian Exchange (EGX), Johannesburg Stock Exchange (JSE), Lusaka Stock Exchange (LuSE), Nairobi Securities Exchange (NSE), The Nigerian Stock Exchange (NSE) and Zimbabwe Stock Exchange.