Governance

Executive Committee

President, CEO: Botswana Stock Exchange

Mr. Thapelo Tsheole

Mr Tsheole is a seasoned Financial Markets expert with a cumulative experience of over 20 years having worked for the Central Bank Bank of Botswana and Botswana Stock Exchange (BSE).Mr Tsheole holds a Bachelor of Social Sciences (Single Major Economics) from the University of Botswana and a Master of Commerce (MComm) in Financial Markets from Rhodes University (RSA). Further, he holds a Master’s Degree in Business Administration (MBA) from the Graduate School of Business, University of Cape Town (RSA). He has also completed several financial markets programmes as well as a Leadership Development Programme at the University of Stellenbosch Business School (RSA).

Mr Tsheole has extensive financial markets experience in Capital Markets, Forex, Structured Products and the Financial Market Regulation. He was appointed CEO of BSE in January 2016 having been Deputy CEO since February 2014.

Mr Tsheole is a firm believer in the development of the financial market in Botswana and Africa, as well as their importance to economic growth and stability and has led initiatives to increase activity in the financial market in Botswana. In recognition of his exceptional and devoted service to Botswana he was awarded the Presidential Order of Meritorious Service by His Excellency the President of the Republic of Botswana in September 2018.

Mr Tsheole is the Chairman of the Committee of SADC Stock Exchanges (CoSSE), and the President of African Securities Exchanges Association (ASEA).

Vice President, CEO: Rwanda Stock Exchange

Pierre Celestin Rwabukumba

Pierre Celestin RWABUKUMBA, a Rwandan national, is the current Chairman of the East African Securities Exchanges Association (EASEA) and Chief Executive Officer of the Rwanda Stock Exchange Ltd. He was the Co- founder and Chairman of Kigali Cement Company, a private company that produces, Markets and sells cement in Rwanda and neighboring countries. He is also a non Executive in a number of institutions in finance and business development, hospitality and industry in Rwanda and beyond. The list include the Securities Industry Training Institute (SITI East Africa) where is serves as Chairman, The Executive Committee of the African Securities Exchanges Umbrella Organization (ASEA), The New Faces New Voices  – Rwanda and others.  He is also involved in different investment projects ranging from Real Estate, Poultry and Agro – processing to Energy.

Mr. Rwabukumba started his career in financial services in New York City more than a decade ago after graduating from the University of Buffalo (UB), New York in the United States with A bachelors Degree in Economics. He worked in different professional positions as a stock broker, in Compliance and Operations and Institutional Investors’ Sales before he joined the Central Bank of Rwanda in 2004 to help start the Capital Market Development Project in Rwanda. Mr. Rwabukumba is a seasoned negotiator as he has been instrumental in different negotiations on regional integration of the East African Community. He has served on different Capital Market Committees both at the national and the regional level; the latest being the High Level Task Force negotiating the EAC Monetary Union. He completed an international post Graduate Advanced Management Program (AMP) for Executives at Strathmore Business School.

CEO: Ghana Stock Exchange

Ms. Abena Amoah

Abena is the first female Managing Director of the Ghana Stock Exchange, appointed by the Exchange’s Council on November 24, 2022. She is a trailblazer in the capital markets industry and has served on boards of institutions such as Access Bank PLC, African Women’s Development Fund, Ghana Petroleum Funds, Kosmos Energy Ghana, University of Ghana Council, among others. She is passionate about youth empowerment and has mentored several persons who have taken up significant leadership roles themselves. Abena is an alumna of the University of Ghana Business School and has undertaken leadership studies at the Stanford Graduate School of Business, Harvard Business School, and the University of Denver’s Daniels College of Business.

Executive Chairman, The Egyptian Exchange (EGX)

Ahmed Abdel Rahman El-Sheikh

Mr. Ahmed Abdel Rahman El-Sheikh has been appointed as the Executive Chairman of the Egyptian Exchange by the Prime Minister Decree No. 3259 of the year 2023, due to his 30-year extensive experience and diverse expertise in the field of financial markets and financial activities.

Mr. El-Sheikh held the position of Deputy Chairman of the Egyptian Financial Regulatory Authority (FRA), according to Prime Minister Decree No. 2978 of the year 2022.

Mr. El Sheikh acted as the Deputy Chairman of the Egyptian Stock Exchange from 2018-2022, according to the Prime Minister Decree No. 2567 of the year 2018.

Mr. El-Sheikh was also the Deputy Chairman of Egypt for Information Dissemination Company (EGID).

Mr. El-Sheikh served as board member at the Egyptian Financial Regulatory Authority (FRA), The Egyptian Exchange, Misr for Central Clearing, Depository and Registry Company (MCDR), Egypt for Information Dissemination Company (EGID), The Egyptian Commodity Exchange and Investor Protection Fund.

Mr. El-Sheikh owns varies fields of expertise in the financial market gained by his work at Misr for Central Clearing, Depository and Registry Company (MCDR) during the years of 1996-1997.

He also, joined several technical departments at the Egyptian Exchange since 1993 till 2005. During the period of 2005-2011, El Sheikh headed the Surveillance Central Department at the Egyptian Financial Regulatory Authority (FRA). In 2011, upon his return to the Egyptian Exchange he held the position the Assistant to the Chairman for Market Technical Affairs. In 2014, he headed the Membership Sector followed by the Surveillance Sector in 2018.

Mr. El-Sheikh chaired the Business Development Committee at the Arab Federation of Capital Markets. Moreover, he served as member of Investment and Audit committee at Egypt for Information Dissemination Company (EGID). Furthermore, he acted as member of the Egyptian Commodity Exchange Membership Committee, and the Settlement Guarantee Fund of MCDR.

Mr. El-Sheikh acted as expert in economic courts, according to the decree of the Minister of Justice No. 7464 of the year 2009.

Mr. El-Sheikh holds a bachelor’s degree in commerce and accounting from Ain Shams University in 1992, followed by a Diploma in Investment and Finance in 1998. Shortly in 1999, he earned a Diploma in Securities Portfolio Management from the American University in Cairo, in addition to one in Capital Markets from the Arab Academy, complemented by a master’s degree in business administration in 2003, specializing in Financial Markets.

CEO: Central African Securities Stock Exchange (BVMAC)

Banga Ntolo

Chief Executive Officer of the Casablanca Stock Exchange

Mr. Tarik SENHAJI

Mr. Tarik SENHAJI is graduated from the Ecole Polytechnique de Paris and the National School of Statistics and
Economic Administration (ENSAE) in Paris. He began his career as a finance manager at the International Finance
Corporation (World Bank Group) in Washington DC. Then he held various management positions in the capital
markets in London at Société Générale, Dresdner Kleinwort Benson, Calyon CIB and Natixis CIB.

Mr. Tarik SENHAJI has accumulated over 23 years of experience in the financial sector on the Moroccan and
international markets. Before his new position as chief executive officer of Casablanca Stock Exchange, he was
Managing Director of Ithmar Capital, Strategic Investment Fund and Chairman of the Moroccan Society for Tourist
Engineering.

Chief Executive Officer of the Dar es Salaam Stock Exchange

Mary Stephen Mniwasa

Mary Stephen Mniwasa is currently the Acting Chief Executive Officer and Chief Legal Counsel of the Dar es Salaam Stock Exchange PLC (DSE). Ms. Mniwasa has 15 years’ experience in Capital Markets and Stock Exchange Operations leading in most of the major strategic initiatives of the DSE.

Ms. Mniwasa has been a Country’s Coordinator of the Securities Industry Training Institute under the East African Securities Exchanges Association and has participated in the Capital Markets Technical Working Group for preparation of East Africa Community (EAC) Council Directives that harmonizes the EAC Capital Markets Legal and Regulatory Framework.

She has played major role in development of Market Rules, securities markets supervision and training of market participants.

Ms. Mniwasa is a holder of Master of Laws (LLM) from the University of Dar Es Salaam and a Bachelor of Laws (LLB) degree from the same university. She is also a registered Advocate, Notary Public and Commissioner for Oaths.

Chief Executive Officer of the Eswatini Stock Exchange (ESE)

Ms. Joyce Dlamini

Joyce is the Head of the Eswatini Stock Exchange (ESE), an astute and experienced financial markets professional covering all financial instruments such as equities, bonds, money, foreign exchange and derivatives. Her over 26-year successful career spans fourteen years in the banking sector in financial accounting, treasury and currency operations which were spent at First National Bank and the Central Bank of Eswatini. From there she spent five years in academia as a Lecturer at the University of Eswatini where she taught Advanced Corporate Finance, Advanced Business Finance, Investment Analysis and Portfolio Management, Legal Accounting, Taxation and Auditing. She doubled as the Commerce Faculty Tutor/Administrator where she attended to student’s concerns and problems which sharpened her administrative, problem-solving and people management skills.

She has spent the last seven years at the Exchange where she is responsible for all its operations and driving all the sweeping innovations happening within the Exchange which include the acquisition of the Automated Trading System (ATS) of the Exchange and all related systems for Stockbroking Firms and Transfer Secretaries and an integration to the Central Securities Depository (CSD) owned by the Central Bank of Eswatini (CBE) for connection to the National Payment System/RTGS to enable cross-border trade settlement. This ATS is also interfaced with Mobile Network Operators (MNOs) for Mobile Trading which resonates well for financial inclusion on the part of retail investors, amending legislation to comply with the automated trading environment, introducing Specialized Securities like Exchange Traded Funds (ETFs), Real Estate Investment Trusts (REITs) into the market, the Rebranding of the Exchange’s name to Eswatini Stock Exchange, driving the Exchange demutualization process, increasing the staff complement, among others.

As part of Community Service, she has effectively worked with the Eswatini Institute of Accountants (ESIA), the Attorney General’s Office, the American Embassy in Eswatini and the South African Institute of Financial Markets (SAIFM), among others.

Joyce is a Fulbright Alumnus from the University of Akron, Ohio, USA where she obtained her MBA in Finance and also holds a Bachelor of Commerce in Accounting from the University of Eswatini. She is also a Capital Markets and Securities Analyst (CMSA), a professional qualification she obtained from the Corporate Finance Institute based in Canada. She is a Registered Accountant, RA(SD) with the Eswatini Institute of Accountants (ESIA), a Full Member with the South African Institute of Financial Markets (SAIFM), and a Member with the Institute of Directors in Southern Africa (IoDSA) and CFA Society South Africa.

Head of ASEA Secretariat

Ms. Agnes Nafula

Ms. Agnes Nafula is the Head of Secretariat at the African Securities Exchanges Association (ASEA) Ms. Agnes Nafula has over 11 years of broad experience across various roles in public capital markets, and a fast moving consumer goods sector and has in the most recent 6 years has been working at the Nairobi Securities Exchange (NSE) where she has served in different capacities within Administration, Trading Operations and Business Development Departments. She was also instrumental in the establishment of the Ibuka program. Ms Nafula has a Master’s Degree in Business Administration (Marketing), a Bachelor of Commerce Degree in Business Management, Diploma in Public Relations and a Diploma in Human Resource Management. Women in Leadership program from Strathmore University. She has previously worked at African Alliance Investment Bank and Gulf Energy. Her areas of expertise include Business Development and Capital Market’s.

Organizational Structure