ALTX Clearing Ltd is the second depository company established in East Africa. It is planned to develop into a full blown derivatives clearing operation within two years.
ALTX Clearing Ltd operates a depository with CSD-R technology that has the following capabilities:
- Securities custody
- Securities settlement on a T+1 settlement cycle
- Handling multiple asset classes
- Securities Registry
- Securities Lending and Borrowing
- Securities Pledging and Release
- Interdepository Transactions
- Mobile registration and Trading for retail clients
ALTX Clearing is regulated by the Capital Markets Authority of Uganda
Board of Directors
Dr. Peter Takirambudde graduated from Makerere University in 1972 with LL.B, and Diploma in Legal Practice from the Law Development Center in 1974. He also holds a Masters of Laws and a Doctor of Juridicial Science from Yale University, Connecticut, USA.
He has worked as Professor of Law, Head of Department of Law and Dean of Social Sciences at the University of Botswana, Member of the Botswana Tax Board of Review and as Visiting Professor of Law at Lund University, Sweden.
Peter served as Executive Director for Africa, Human Rights Watch between 1996 and 2007. He joined the Board of Botswana Stock Exchange in 2008 and served for four years. He will serve on the Audit Risk and Governance Committee of the Board.
Mr. Richard Wood is a graduate of Cambridge University and is a UK qualified Chartered Accountant. He has over 25 years’ experience, including nine as a Partner with PriceWaterhouseCoopers’ advisory group in Africa Central. He is now resident in Uganda having has lived and worked in Tanzania, Nigeria, Zambia and UK for the last 24 years. He has worked on advisory assignments in numerous sub-Saharan African countries including, Ethiopia, Ghana, Kenya, Liberia, Nigeria, Rwanda, Sierra Leone, Tanzania, Uganda, and Zambia.
He has particular experience of providing financial and business advisory services, which has included managing, directing and performing assignments to help clients consider their strategies and business plans, improve the performance of their business processes, leading financial and business analysis / due diligence, valuations, financial modelling assignments and advising on the buy and sell side for transactions in a broad range sectors including FMCG, energy, transport, telecommunications, water, financial services and banking.
He currently serves as a board member of a local international school, an international church, and an agricultural development company. Richard will serve on the Audit, Risk and Governance Committee of the Board.
Hirander Misra is CEO of GMEX Group. He is also Chairman of high-tech firm Forum Trading Solutions and Managing Director of Misra Ventures, a consultancy providing specialist senior level advisory services and helping firms deliver change in market structure, trading and regulatory compliance.
Previously he was the co-founder and Chief Operating Officer of Chi-X Europe Limited, instrumental in taking the company from concept to successful launch. At the time of his departure in February 2010, Chi-X Europe was the second largest equities trading venue in Europe, just behind the LSE Group and was subsequently sold to Bats Global Markets in November 2011 for $365mn.
Jatin Jivram is a businessman currently based in Kampala, Uganda where he manages his businesses. His business interests include a Real Estate Business that is spread over three continents, a Debt Collection/Management company, a sugar cane farm with jaggery production plant and an Automotive Engineering facility. He is a retired IT specialist with experience in Data and Voice networks holding vendor accreditation from Microsoft, Cisco, Novell and Krone. He also sits on a management committee of the Indian International School (IIS) in Kampala.
Joseph S. Kitamirike
Joseph S. Kitamirike previously worked as Chief Executive of Uganda Securities Exchange, between August 2010 and August 2013. Joseph is the Immediate Past Chairman of the East African Securities Exchanges Association (EASEA), and was until August 2013 an executive member of the African Securities Exchanges Association (ASEA). He served as director on the Board of the Central Depository & Settlement Corporation of Kenya for three years and the Fidelis International Institute.
He is a Senior Director at the Albright Stonebridge Group in Washington, DC. Joseph holds a B.Sc. (Eng.) (Hons.) in Mechanical Engineering from Makerere University and a MBA (Finance) from the University of Connecticut, USA.
Mr. Felix Okoboi is an experienced finance and investments professional, with over 15 years of local and international finance, real estate and project management experience. Felix was previously Executive Director and Head of Investments of First Renaissance Securities, previously Renaissance Capital, a member of the Uganda Securities Exchange.
Prior to that, he was a Vice President with Kalahari Advisors LLC (now Kalahari Capital Partners), a US private equity firm, and an investment banker in the Leveraged Finance group at Wachovia Securities (now Wells Fargo Securities). During this time he worked on and executed acquisitions, refinancings and recapitalizations, among other transactions, totaling over US$1.5 billion. Before he worked on Wall Street, he was a Project Manager and Architect for a leading regional consultancy, responsible for overseeing the execution of several multimillion dollar projects.
Felix holds an MBA in Finance from The Wharton School, University of Pennsylvania, and a Master of Arts in International Business Studies from the University of Pennsylvania, where he was on the Director’s List of top performing students. He is a Joseph Wharton Scholar and a Barrows Fellow.
He is also a graduate of the Aachen University of Technology (RWTH Aachen) in Germany where he obtained a Bachelor’s degree and a Master’s degree in Engineering with a major in Architecture. Felix will serve on the Business Conduct Committee of the Board.
Sarah Irene Walusimbi
Ms Sarah Irene Walusimbi holds an MBA from the Eastern and Southern African Management Institute, (ESAMI) (2007) and a Bachelor of Laws (LLB), Makerere University Kampala (1981). She also holds a Diploma in Legal Practice from the Uganda Law Development Centre.
She is an Enrolled Advocate of the Courts of Judicature, Uganda, Member of the Uganda Law Society, East African Law Society and Uganda Women Lawyers Association (FIDA) and a Member of the Institute of Corporate Governance, Uganda (1989).
She is a member of the Board of NSSF and Housing Finance Bank. Sarah Served on the first Board of the Capital Markets Authority between 1997 and 2008. Sarah will serve on the Business Conduct Committee of the Board.