NASD Now Full Member of African Securities Exchanges Association
By Goddy Egene
The NASD OTC Securities Exchange, which is the platform for the trading securities not listed on the Nigerian Stock Exchange (NSE), has become a full member of the African Securities Exchanges Association(ASEA).
The acceptance of NASD OTC as full member of ASEA took place at the annual general meeting(AGM) and 20th annual conference of the association that took recently in Kigali, Rwanda.
NASD said that as a full member of the umbrella body for African exchanges, it will obtain access to best practice and technology trends from a global African perspective.
“We also will build vital relationships that will enable us provide better and more efficient services stakeholders in the market. NASD in additions joins 26 other exchanges in forming Investment practice policy and regulatory framework on the continent,” the exchange said.
NASD OTC added that it is committed to best practice improving investment standards and corporate governance.
“We continue to respond to the liquidity requirements of investors and funding requirements of viable Issuers. Joining a pan African organisation has positioned us better to provide our objective of creating liquidity… transparently,” NASD said.
Also at the AGM, the Chief Executive Officer of the NSE, Mr. Oscar Onyema, was re-elected President of ASEA. Similarly, the CEO of Casablanca Stock Exchange, Mr. Karim Hajji was re-elected as the Deputy President.
The AGM was attended by 16 Member Exchanges and two (2) Associate Members. Other officers constituting the ASEA Executive Committee for the next two year term include, Mr. Geoffrey Odundo, CEO of Nairobi Securities Exchange; Ms. Zeona Jacobs, Director Marketing and Corporate Affairs Johannesburg Stock Exchange (JSE); Mr. Edoh Kossi Amenounve, CEO Bourse Regionale des Valeures Mobilieres; Mr. Mohammed Omran, CEO Egyptian Exchange; Mr. Thapelo Tsheole; CEO Botswana Stock Exchange and Mr. Pierre Ekoule, CEO Douala Stock Exchange.
Onyema thanked the association for the support he had received during his past tenure as president and for entrusting him with the leadership of ASEA for yet another term.
“I am grateful to my fellow Executive Committee Members, for the support and dedication shown to me and to ASEA. I humbly accept this new challenge and I look forward to further delivering on the promise of the Association in the two years ahead,” he noted.
Also commenting, Hajji said: “A lot of good work has been done by the Executive Committee, the Members and the Secretariat of ASEA in the last two years and I look forward to the next two years in propelling ASEA forward.”