Central Securities Depositories key to deepening Africa’s capital market
Salamatu Ejembi, Lagos.
The newly elected Vice-President of Africa and Middle East Depositories Association (AMEDA), Mr. Haruna Jalo-Waziri, says that Central Securities Depositories have key roles to play in deepening Africa’s capital market.
Mr Jalo-Waziri, stated this in acknowledgment of his new appointment.
The regional association of global Central Securities Depositories (CSDs) elected Mr. Jalo-Waziri with the aim of strengthening its governance and execution of strategic objectives.
Mr. Jalo-Waziri would be working closely with the Chief Executive Officer of Bahrain Clear, Mr. Abdalla Abdin, who is the President of the association, in steering the affairs and leading execution of strategic initiatives towards delivering value to its members and broader stakeholders.
“I am excited to work with established professionals through the collective prowess that AMEDA affords in leading the desired change in our respective capital market ecosystem and broader continent.
“I am excited at the commitment of our President, Mr. Abdalla Abdin, and all members towards our mission, and this reinforces my confidence in our collective ability to change the narratives of capital markets in Africa and Middle East,” said Mr. Jalo-Waziri.
Speaking also on Mr Jalo-Waziri’s election, the Executive Secretary of AMEDA, Ms. Riham Gamal said,
“Mr. Jalo-Waziri has been a very active member of AMEDA, representing the Nigerian CSD, over the past five years.
“He has led several initiatives of the association, in addition to being a positive reference and rallying point for members in exchanging information and knowledge. Hence, it would be exciting to work with him as the Vice-President of AMEDA.
“He is very complementary to the positive leadership of Mr. Abdalla Abdin, and I am more than ever excited about the prospect of AMEDA in executing brilliant ideas towards the mutual prosperity of members and more importantly the development of capital markets in Africa and Middle East.”
Mr. Jalo-Waziri is also the current Managing Director/Chief Executive Officer of Central Securities Clearing System (CSCS) Plc.
Mr. Jalo-Waziri, who also represents the global community of Central Securities Depositories on the Operating Committee of the International Securities Services Association (ISSA) brings to AMEDA almost three decades hands-on experience in the region’s financial services sector, across different segments of the market, including capital market regulation, pensions and conventional asset management, investment and commercial banking as well as Exchange management and post-trade services.
AMEDA, which was established in April 2005, is a non-profit organization providing a structured platform for knowledge and information exchange as well as collaboration amongst Central Securities Depositories in Africa and the Middle East regions.
It promotes cooperation and advocacy towards adoption of global best practices and regulatory standards in securities depositories and post-trade services, whilst supporting its members in navigating the uniqueness of their respective markets.
With memberships in Africa and Middle East regions, AMEDA serves as a dialogue channel and bridge for global partnerships with the regions’ CSDs.
Also, active as associate members are global banks such as HSBC and Standard Chartered Bank as well as CSDs from other regions, such as the Indian National Central Securities Depository.
The Central Securities Clearing System (CSCS) is a Public Limited Company with a diversified shareholder base, including the Nigerian Exchange Group, some of the largest banks in Nigeria, private equity firms, other corporate and individual shareholders.
With over two decades of operation, serving as the Central Securities Depository for the Nigerian Capital Market, the CSCS has been pivotal to the growth and transformation of the capital market, including its full dematerialization of share certificates and the shortening of settlement cycle in the capital market.
