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London Stock Exchange Admits PenCom DG, Others as Members

The London Stock Exchange Africa Advisory Group has admitted the Director general of the National Pension Commission, PenCom, Chinelo Anohu-Amazu, as pioneer member.

Anohu-Amazu is one of the high-level financial experts from the African continent appointed by the respected London Stock Exchange to provide advisory services on how best to deepen the African Financial markets.

According to a statement, the Group was unveiled at the just-concluded inaugural meeting of the advisory body hosted by the London Stock Exchange in London.

Also appointed were members drawn from the three largest stock exchanges in Sub-Saharan Africa, namely the Johannesburg Stock Exchange, Nigerian Stock Exchange, and Nairobi Securities Exchange.

Among them are the Chief Executive Officer of the Nigerian Stock Exchange, Mr Oscar Onyema and the Chairman of Seplat Petroleum Development Company, Dr Ambrose Bryant Chukwueloka (ABC) Ojiako.

The Johannesburg Stock Exchange, Nigerian Stock Exchange, and Nairobi Securities Exchange account for approximately 80 percent of the market capitalization of public securities in Africa.

However, the development of other stock exchanges, including the top three exchanges, in Sub-Sahara Africa have remained stunted by several factors impacting capital markets, such as low financial depth, high cost of raising capital, patchy liquidity, high market risk, and mutual status.

The PenCom DG and other members of the Advisory Group are, therefore, expected to continually examine these issues and proffer advice that would hopefully change the narrative for the African capital markets for the better.

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