Mr Ekow Afedzie, the current Deputy Managing Director of the Ghana Stock Exchange (GSE), has been appointed to act as the Managing Director effective August 1.
The council of the Ghana Stock Exchange announced on Tuesday that the Managing Director, Kofi S. Yamoah, will retire at the end of October 2019 after taking his terminal leave from August 1.
A statement issued by the GSE said Mr Afedzie brings on board, over 20 years of experience in the capital market, having worked with the Ghana Stock Exchange since its inception in 1990.
He has previously served as the Head of Marketing, Research and Systems, and as General Manager. He was appointed Deputy Managing Director in 2009.
Mr Afedzi holds a Master's Degree in Business Administration and a Master of Arts Degree in Economic Policy Management, both from the University of Ghana. He also holds a Bachelor's Degree in Law from Mountcrest University College.
The outgoing MD has served the Ghana Stock Exchange in various capacities, including as Presiding Officer on the Trading Floor, Financial Controller, Senior Manager, Operations, and as General Manager.
He was appointed as Managing Director of the Ghana Stock Exchange in April 2003. The Ghana Stock Exchange has, during Mr Yamoah's 16-year tenure as Managing Director, undergone significant innovation, notably, the automation of trading, and the establishment of the Ghana Alternative Market (GAX) and the Ghana Fixed Income Market (GFIM).
The council lauded the outgoing MD, whom they said has been instrumental in the development of the capital market in Ghana.