South African securities exchange 4 Africa Exchange (4AX) has appointed four new independent nonexecutive directors – Mfundiso Johnson Ntabankulu Njeke, Thabo Vincent Mokgatlha, Deon Rossouw and Theo Vorster – to its board.
“Each of these appointees will play an active role in offering perspective and guidance on market and business related aspects and, in relation to this, review and assist in formalising the growing scope of the exchange’s market strategy, as well as the exchange’s performance,” CEO Fay Mukaddam said in a statement on Tuesday.
They will also assume the recommended roles and responsibilities for nonexecutive directors in terms of monitoring any risks to the exchange or market, ensuring that the exchange complies with all required regulation and continues to contribute to the high quality of South Africa’s capital markets.
“Each appointee brings with them different depth of expertise that collectively will add value to our business growth as 4AX continues to become the logical choice as an alternative listing and trading option in the local market,” Mukaddam noted.
In addition to these appointments, the exchange is preparing for its first six listings – and has also received an application from independent equity research firm and trading house Avior to operate as the exchange’s first broker.