Africa’s economic ascent continues unabated, with six of the world’s ten fastest-growing economies now located on the continent.
As sectors like technology, consumer goods, and infrastructure drive unprecedented expansion, the custodians of this transformation sit in the executive suites of Africa’s stock exchanges.
These CEOs and Managing Directors, through a combination of expertise, opportunity, and strategic positioning, now help the institutions that power Africa’s economic infrastructure.
From the historic Johannesburg Stock Exchange to the rapidly growing Nigerian Exchange, these leaders represent diverse backgrounds but share the privilege of guiding markets that collectively surpassed $1.4 trillion in capitalization.
Their boardrooms make decisions affecting millions of investors, from local pension funds to international institutions seeking African exposure. This profile examines the select group of CEOs and MDs entrusted with steering these vital financial institutions.
From capturing the market capitalization of the exchanges, to the last three-month percentage growth so far in 2025. Let’s take a look.
- Market cap: $9.7 billion (ZMW 274.61billion)
- YTD:6.07%
- Stocks listed: 25
Nicholas Kabaso is the current Chief Executive Officer of the Lusaka Securities Exchange Plc (LuSE), appointed in January 2024. He brings over 15 years of experience in capital markets, asset management, and financial governance to his role at the helm of Zambia’s premier securities exchange.
The Lusaka Securities Exchange (LuSE) was established in 1993 and commenced operations in 1994. Since inception, LuSE has diversified the range of financial instruments available in Zambia, including equities, unit trusts, government, and corporate bonds.
In 1997, the LuSE All Share Index (LASI) was launched with a base value of 100 points to track market performance. Prior to joining LuSE, Mr. Kabaso served as the Chief Executive Officer of ABC Asset.
Management from 2017 to 2023, and earlier held the role of Chief of Staff at Atlas Mara Ltd. His professional journey includes several strategic finance roles at Barclays Zambia and Mozambique, including Head of Business Performance and Analytics, and Finance Business Partner across retail and investment banking segments.
Kabaso has held various board-level positions across Zambia’s financial and investment ecosystem. He currently serves as:
- Board Member, Public Service Pension Fund
- Committee Member, Finance and Investment Committee, National Institute for Scientific and Industrial Research (NISIR)
- Former Trustee, Compensation Fund at the Securities and Exchange Commission, Zambia
- Former President, Capital Markets Association of Zambia (2020–2022).
Academically, Mr. Kabaso holds a Master of Business Administration in Finance from the University of Zambia and a Bachelor of Arts in Economics and Mathematics Statistics from the same institution. He is a Washington Fellow in Business and Entrepreneurship, having studied at Clark Atlanta University under the U.S. Department of State’s Mandela Washington Fellowship, and is a candidate of the CFA Institute and the Chartered Institute for Securities & Investment (CISI).
