ONYEMA ELECTED PRESIDENT OF AFRICAN SECURITIES EXCHANGES ASSOCIATION

The African Securities Exchanges Association has elected the CEO of the Nigerian Stock Exchange (NSE), Oscar Onyema, as President of the body the association’s 18th Annual General Meeting held in Diana, Kenya. The association also elected Karim Hajji, the CEO of Casablanca Stock Exchange (CASA) as its new Vice President.

Onyema who had previously served as the Deputy President of ASEA, will work with members of the committee to fulfill 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). 

Other members of the committee include the Bourse Régionale des Valeurs Mobilières (BRVM), The Egyptian Exchange (EGX), Johannesburg Stock Exchange (JSE), Lusaka Stock Exchange (LuSE), The Nigerian Stock Exchange (NSE) and Zimbabwe Stock Exchange.

Onyema became the president of the Nigeria Stock Exchange in April 2011 and has helped the exchange grow in capitalization and status. Under his leadership, the NSE was recently 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).

In 2009, Mr. Onyema founded Market Strategists LLC and consulted under the Gerson Lehrman Group platform in the United States, successfully enabling decision-makers at investment firms and corporations to understand financial products, services, companies, and issues in global financial markets. 

He served as the senior vice president and chief administrative officer at American Stock Exchange (Amex), which he joined in 2001. He was the first person of colour to hold that position, and was instrumental in integrating the Amex equity business into the NYSE Euronext equity business after the latter’s acquisition of Amex in 2008. He then managed the NYSE Amex equity trading business, which he helped position as a premier market for small and mid-cap securities.

Mr. Onyema holds an MBA, Finance and Investment from City University of New York, Baruch College and a degree in Computer Engineering from Obafemi Awolowo University.