Pierre-Célestin Rwabukumba, the chief executive officer (CEO) of Rwanda Stock Exchange, has been appointed as president of African Securities Exchanges Association (ASEA), the continental body for stock exchanges and securities trading and settlement infrastructure providers.

Rwabukumba replaced Thapelo Tsheole who resigned as CEO of the Botswana Stock Exchange, effective 31 May 2024 and consequently as the president of ASEA, the association said in a statement on Wednesday, April 10.

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Rwabukumba, who joined the ASEA Executive Committee in November 2018 and was elected as Vice-President in November 2022, will begin his duty as the body’s president on May 1.

"His appointment marks a new chapter for ASEA, promising continued growth and collaboration within the African Securities Exchanges landscape under his stewardship,” the statement read.

Rwabukumba has headed Rwanda Stock Exchange since its inception in 2011. The ASEA was established in 1993 and is the premier association of securities exchanges in Africa.

Thapelo had been elected as President of ASEA in November 2022 at the Association's 26th Annual General Meeting (AGM) and had served for 15 months.

During his stint at the helm of ASEA, the association said, Thapelo "spearheaded pivotal initiatives in collaboration” with the African Union and the United Nations Commission for Africa (UNECA) and Pan- African Payment and Settlement System PAPSS.