PENCOM DG appointed member of LSE Africa Advisory Group

Director-General of the National Pension Commission (PENCOM), Chinelo Anohu-Amazu, has been appointed pioneer member of the London Stock Exchange Africa Advisory Group.

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

The Group was unveiled at the just-concluded inaugural meeting of the advisory body hosted by the LSE 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 Oscar Onyema, CEO, Nigerian Stock Exchange, and chairman of Seplat Petroleum Development Company, Ambrose Bryant Chukwueloka Ojiako.

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

However, the development of other stock exchanges including the top three exchanges in sub-Saharan 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 expected to continually examine these issues and offer advice that will change the narrative for the African capital markets for the better.