Africa Leaders Magazine

FÉLIX EDOH KOSSI AMENOUNVÉ, CEO of BRVM – The First African Co-Opted as A Nasdaq Adviser

FÉLIX EDOH KOSSI AMENOUNVÉ, CEO of BRVM - The First African Co-Opted as A Nasdaq Adviser - African Leaders Magazine

The CEO of the Regional Stock Exchange (BRVM), common to the eight countries of the West African Economic and Monetary Union (UEMOA), joined the Nasdaq Exchange Review Council, formerly called the Nasdaq Listing and Hearing Review Council.

Known to insiders in the world of finance, this advisory committee, placed with the famous American stock market institution, ensures the application of market rules on the four Nasdaq Stock Exchanges (namely Nasdaq USA, Nasdaq Nordic, Nasdaq Baltic and Nasdaq Dubai). A new mandate, as technical as it is prestigious, which runs until 2024.

He adds to the management of the BRVM, a position that Félix Edoh Kossi Amenounvé has held since 2012, when he was reappointed at the end of 2020 to head the Association of African Securities Exchanges (Asea).

FÉLIX EDOH KOSSI AMENOUNVÉ, CEO of BRVM - The First African Co-Opted as A Nasdaq Adviser - African Leaders Magazine

Composed of personalities from American finance, the Exchange Review Council is a technical committee that examines the subjects to be transmitted to the board of directors of the Nasdaq stock exchanges, the largest equity market in the United States by volume traded, counting more than of 5,000 listed companies. It meets at least four times a year.

It was as part of a reform aimed at opening this committee to members from emerging countries that the candidacy of the head of the BRVM was selected. He becomes the first African to integrate this highly technical unit. His appointment salutes more than twenty years of experience in the banking world: after starting out as general manager of the Société de Bourse in Lomé (SGI Togo), Félix Edoh Kossi Amenounvé held the position, among other things, of president of the management of OPCVM (SGO) Opti Asset Management and Secretary General of the Regional Council for Public Savings and Financial Markets (CREPMF, the WAEMU regulatory authority), before his mandates at the BRVM and the Asea.

Originally from the Maritime Region, on the border with Benin, and the son of primary school principals, the CEO of the BRVM did a large part of his schooling within the Togolese education system, until his master’s degree in economics at the University of Lomé, from which he graduated valedictorian. To complete his training, he chose Canada, where he obtained an MBA and then a doctorate (in administration, finance option) at Laval University, before returning home to work in the public bank UTB, then helping to found the SGI. Togo.

Since taking office in September 2012 at the head of the BRVM, where he entered in 1997 as assistant to Lamseh Alexis Looky, the first president of the institution, this golf enthusiast – member of the Ivoire Golf Club from Abidjan – maintains a link with his country and stays there regularly.

For several years, Félix Edoh Kossi Amenounvé has been working on the integration of African Stock Exchanges.

His commitment began at the level of ECOWAS, as chairman of the council for the integration of stock exchanges in the area. He continues today at the head of Asea, of which he was vice-president before taking over as head in April 2020, then being reappointed to this position in November. It is in this capacity that he signed, on July 30, a contract with the Emirati financial technology company DirectFN to set up a platform to connect seven African stock exchanges: Casablanca, Cairo, BRVM, Lagos, Nairobi, Mauritius and Johannesburg.

FÉLIX EDOH KOSSI AMENOUNVÉ, CEO of BRVM - The First African Co-Opted as A Nasdaq Adviser - African Leaders Magazine

The background of Israeli-American economist Stanley Fischer, who served as Governor of the Bank of Israel (2005-2013) and Vice Chairman of the US Federal Reserve Board (2014-2017), is a source daily inspiration for the CEO of the BRVM.

His mentors are the Senegalese Gabriel Fal, co-founder of the BRVM and chairman of the board of directors of the institution between 2013 and 2015, who died in 2019, and the latter’s successor, the Senegalese Pierre Goudiaby Atepa, who held the position. between 2015 and 2018, before being replaced by the Ivorian Parfait Kouassi.

As for his network, it includes the current President of the ADB, the Nigerian Akinwumi Adesina, as well as his predecessors, the Rwandan Donald Kaberuka and the Moroccan Omar Kabbaj, but also the Togolese Head of State, Faure Gnassingbé, and several members of his government. The banker also hails Ivorian President Alassane Ouattara and his Rwandan counterpart Paul Kagame as examples of reform leaders to follow.

Under the leadership of Félix Edoh Kossi Amenounvé, the BRVM crossed the bar of 20 billion dollars in capitalization. A performance achieved thanks to the implementation of a series of reforms, including the introduction of rating, the establishment of the mortgage and securitization market and the harmonization of securities taxation, since his arrival in the institutional orders. In 2019, on the sidelines of the announcement of the supply of market surveillance technology by the Nasdaq to the BRVM, the American operator had presented the West African place as being “one of the most integrated supranational organizations of the world “.

FÉLIX EDOH KOSSI AMENOUNVÉ, CEO of BRVM - The First African Co-Opted as A Nasdaq Adviser - African Leaders Magazine

Modernization continues with several ongoing projects, including the opening of a compartment dedicated to SMEs in the region and, above all, the creation of a mining market to allow companies to raise funds on the basis of their permits.

Source: jeauneafrique.com

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