ALTX East Africa
ALTX East Africa
ALTX East Africa is an ALTX Africa company opened to operate an ALTX exchange in Uganda. ALTX East Africa's application has been approved by the securities regulator in Uganda and will be the first in a series of steps to establish the network of exchanges in Africa
ALTX East Africa is regulated by the Capital Markets Authority of Uganda
Board of Directors
Edward Katimbo Mugwanya
Mr. Edward Katimbo Mugwanya was born in 1948. He graduated from Nairobi University with a Bachelor of Commerce in 1973. He is a Chartered Accountant (England and Wales) whose career spanned positions with Deloitte Haskins and Sells in the UK, senior executive positions in Bank of Uganda, as Chief Accountant, Executive Director of Finance and Supervision Divisions between 1990 and 2004.
He also served as the senior executive at Centenary Bank Ltd. in charge of Audit and later in charge of finance and treasury functions.
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 $365mn.
Francis Fred Tusubira
Dr. Francis Fred Tusubira holds a PhD (Southampton, UK), an M.Sc.E (New Brunswick, Canada), and a B.Sc. (Engineering) 1st Class Hons. (Makerere University, Uganda).
He is a Member of the Institution of Electrical Engineers, UK, and Chartered Engineer; a Fellow, Uganda Institution of Professional Engineers (which he served as President); and a Registered Engineer (Uganda).
He has key competence in ICT policy and regulation reinforced by continental level and international experience in policy analysis and formulation, capacity building, and research in the same sector.
Mrs. Rose Lubwama works as Financial Director of HL Investments Ltd., the leading indigenous construction company in Uganda and undertakes Projects to the magnitude of US$ 10,000,000.00 for a single project.
She was instrumental in the documentation for the company’s penetration into the construction industry and in particular penetrating donor funded projects by World Bank, DANIDA, USAID, European Union, Royal Netherlands Embassy and African Development Bank.
In 1988, Rose was appointed to the Steering Committee for the establishment of a Stock Exchange in Uganda and she served at the Committee until 1991.
Mr. Edward Burbidge has been CEO of Burbidge Capital, an Eastern African Investment Banking and Broking firm since he founded the company in 2010. He previously worked in the city of London both as a fund manager with Deutsche Bank Tilney Private Wealth and latterly as an investment banker with Arbuthnot Banking Group Plc, advising on M&A and capital raising transactions with a focus on corporate clients in developing markets.
Edward is a CFA Charterholder, member of the UK Society of Investment Professionals and the East Africa Society of Investment Professionals. He also sits on Nairobi Securities Exchange’s Business Development and Public Education Committee. He is also a member of His Excellency Uhuru Kenyatta’s Task Force for Parastatal Reform in Kenya.
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.
ALTX has partnered with GMEX Technologies Ltd of United Kingdom who have provided the trading and order placement technology for ALT Xchange Ltd. in Uganda. GMEX Technologies Ltd provided the trading technology for equities, derivatives, currencies and commodities. GMEX Technologies Ltd is wholly owned by GMEX Group LLP, which is part owned by Deutsche Boerse.
For the Central Securities Depository (CSD), bond auction and mobile retail trading, ALTX has partnered with the Escrow Group. It is anticipated that this partnership will attract new retail investors to the market to invest in new securities to be offered on ALTX. With the new participants, it is expected that new liquidity will come to the market.
Escrow and ALTX will launch a mobile platform in East Africa to provide CSD account registration, bond auctions and order placement in the securities market. Escrow is a leading technology provider for the securities market in Eastern, and Southern Africa and has provided IPO management software and Registry systems in Kenya, CSD and Registry systems in Uganda, developed OTC market systems for Zimbabwe, among others.
Mobileity Africa is working with ALTX to install a web based payment systems to be integrated with a web based mobile application for securities account registration and trading. This application will run initially on the Android systems.