The Johannesburg Stock Exchange (JSE) has appointed a new committee to help revitalise the Africa Board, its platform for cross-listing stocks from companies listed elsewhere on the African continent.
The Africa Board advisory committee was appointed by JSE CEO Russell Loubser, in conjunction with the exchange's executive and board. Nathan Mintah, previously a partner at private equity firm Kingdom Zephyr Africa Management Company, will chair the advisory committee. Other members of the committee include Maureen Dlamini, who is also executive head of the JSE's Africa Board, and Bolaji Balogun, CEO of Nigerian bank Chapel Hill Denham Group.
According to Dlamini, the advisory committee will be responsible for promoting the business goals and objectives of the platform to the investment community, including issuers, investors, service providers, governments and regulators.
“The Africa Board advisory committee will help us achieve the objectives espoused by the JSE Africa Board that include attracting foreign direct investment to Africa in order to provide the finance necessary for development, and to allow the people of Africa to share in the African growth story,” she said.
The committee will also consider operational matters relating to the Africa Board including the development of new products that facilitate capital flows into Africa, advising on proposed amendments or improvements to the Africa Board model, assisting on business development efforts by coordinating with other African countries and offering advice on protocol, regulatory interpretation in different jurisdictions and assist in sourcing funding for the operations of the Africa Board.
The Africa Board currently has two listings –
Namibia's Trustco and Botswana's
Wilderness Holdings – since it was launched in 2009. Both companies also have primary listings in their home markets.