Business
Africa Exchange Holdings Subsidiary Announces CEO and COO Appointments in Rwanda
John Bosco Sebabi is currently the Director General of the Operations Directorate at the National Bank of Rwanda. One of his notable achievements was spearheading modernization of the Bank’s payment systems. John Bosco holds a Master of Science degree in International Economics, Banking and Finance from Cardiff University, Cardiff, Wales, a Bachelor of Science degree in Economics and an Associate degree in Economics, both completed with distinction from the National University of Rwanda.
About EAX Rwanda
EAX Rwanda is the first part of a regional exchange intended to increase transparency in the region’s commodity markets. It is a subsidiary of Africa Exchange Holdings Ltd (AFEX), a holding company co-founded by Berggruen Holdings, Heirs Holdings, The Tony Elumelu Foundation, and 50 Ventures, which seeks to develop a network of commodity exchanges across Africa to transform trade dynamics and ensure higher incomes for the rural poor.
Through private-sector-led investment and under the terms of an agreement signed with the Government of Rwanda, the East Africa Exchange aims to increase regional market efficiency and liquidity as well as giving the region’s population of 130 million, especially smallholder farmers, better access to markets. Powered by NASDAQ OMX, the exchange will initially focus on establishing an auction facility and spot trading for agriculture and non-agriculture commodities, but will also develop futures trading across East Africa.
Its investors are Berggruen Holdings (a part of the Nicolas Berggruen Charitable Trust and advised by the Berggruen Institute on Governance), Heirs Holdings, The Tony Elumelu Foundation, 50 Ventures and Rwandan-led Ngali Holdings.
EAX will complement the East Africa Community’s (EAC) goal of regional economic integration as set out by the Common Market Protocol, increasing liquidity and sustainability of regional financial and commodity markets, supporting the EAC’s competitiveness globally. EAX will also uplift national and regional economies by reducing market barriers to trading, providing a transparent regional economy through a secure mechanism that facilitates financing to farmers and traders.
For More Information:
Timothy R. Shortley
Chief Operating Officer, Africa Exchange Holdings, and
Senior Director for Africa, Nicolas Berggruen Institute
Email: [email protected]
Cell: +1-202-604-4964, United States, Cell: +250-(0)786-591-545, Rwanda
Moky Makura
Director, Marketing and Corporate Communications
Heirs Holdings Ltd
Email: [email protected]
Work: +234-(0)1-277-4641
Rachel Breaux
Chief Communications Officer
Ngali Holdings, Ltd.
[email protected]
+250-(0)784-951-369, Rwanda
