Governing Council

1. Mr. Reginald France - Boulders Advisors Limited

Reginald N. France, is a Founder/Managing Director of Boulders Advisors Limited (BAL), a specialized consulting firm headquartered in Ghana, providing a full range of investment banking advisory services to business entities, government and public sector institutions in Africa. BAL is a Licensed Investment Advisor offering the following services: Mergers and Acquisitions; Business Appraisal & Issuance of Fairness Opinion; Corporate Finance & Debt Restructuring; Operations Management; Investment and Pension Consulting Services; Project Financing; Monitoring and Evaluation; and Strategic and Business Plan Development. He is also the founder of Secure Pensions Trust Limited, a licensed Corporate Pension Trustee in Ghana. Mr. France is a Securities and Exchange Commission Licenced Investment Representative. He has significant experience in the financial and capital markets both in Ghana and the United States. His areas of practice include project management, pension design and investment consulting, asset management, structuring and obtaining financing for acquisitions, management buy-outs, expansion financing and recapitalization. Currently, Mr. France is the President of the Ghana Securities Industry Association and has served as a pension and investment consultant for various public and private pension funds in the United States, Uganda, South Africa and Ghana with assets under consulting of $2.7 billion. His knowledge in the financial markets includes providing investment banking, advisory services to both public and private companies in the United States and Ghana. He has articled and lectured on Portfolio Management Techniques, Retirement planning and Alternative Investment Strategies. He was the Chairman of Hotel Investments Ghana Limited and CDH Insurance Company (Currently NSIA Insurance Company) and a Board member of UT Life Insurance Company and Secure Pensions Trust Limited. Boulders Advisors Limited is the Fund Manager of Gold Venture Capital Limited. Before 1997, Mr. France was a founder/partner of HRK Associates, Inc., a specialized financial consulting firm headquartered in Richmond, Virginia. As a principal of HRK, he arranged corporate finance and acquisition transactions in excess of US$2.3 billion. From 1987 to 1993, Mr. France was the Vice President and Director of Tax for AMF Industries, where he structured and participated in the acquisition of several multinational manufacturing and services businesses in twelve countries. From 1986 to 1987, he was a Senior Analyst at American International Group. Mr. France is a graduate of the Executive Program of Darden Graduate School of Business, University of Virginia. He received his B.B.A. (Accounting) from Bernard Baruch College, New York.
2. Mr. Winston Nelson Jr. - African Alliance Securities Limited

Winston is the founding CEO and a director of African Alliance Securities Ghana Limited. He has over 10 years of experience in investment banking and securities trading. Under his leadership, African Alliance Securities ranks among the top 3 stockbrokers in Ghana. Prior to starting-up African Alliance Securities in Ghana, Winston was head of trading and corporate finance in Strategic African Securities where he coordinated several transactions among them, the IPO’s of Ecobank Ghana and Golden Star Resources Ltd, the rights issue of Ghana Commercial Bank and the acquisition and merger of Total Ghana and Mobil Ghana and Guinness Ghana and Ghana Breweries Ltd. Winston holds a BA in Economic & Management from the University of Ghana and an MSc International Finance and Investments from Brunel University, UK. He currently serves on the Board of the Ghana Stock Exchange, the Technical Committee for West African Capital Markets Integration and the Governing Council of the Ghana Securities Industry Association. He is also the Treasurer of the Ghana Securities Industry Association
3. Mr. Ekow Afedzie - Ghana Stock Exchange

MR. EKOW AFEDZIE, is currently the Deputy Managing Director of the Ghana Stock Exchange. He was educated at the University of Ghana, Legon, Ghana where he obtained a Masters Degree in Business Administration, (MBA) in 1989 and a Master of Arts degree (MA) in Economic Policy Management. He is also a member of the Chartered Institute of Marketing, Ghana. He joined the Ghana Stock Exchange in 1990 when it was established and has served as the Head of Marketing, Research and Systems, then the General Manager before becoming the Deputy Managing Director of the Exchange and a member of its Council or Board. Mr. Afedzie has been one of the strong pillars behind the growing success of the Ghana Stock Exchange. He is experienced in stock market operations and has participated in many international conferences on Stock Market issues. He has also made contributions to local and international research on stock markets, and presented papers on stock market operations at many local and international fora. Mr. Afedzie was the Project Manager for the automation of the Ghana Stock Exchange and he is currently the Co-ordinator of the Secretariat for Integration of West Africa Capital Markets. He is the immediate past Vice President of the African Securities Exchanges Association (ASEA) and currently a member of the Executive Committee of ASEA. He serves on the Board of the Central Securities Depository (CSD) Ghana Ltd. as well as a member of the Ghana Alternative Market (GAX) Governing Committee.
4. Dr. Raziel Obeng Okon - Cidan Investment Advisors Limited

Raziel is a Financial/Investment Management Consultant by profession. He is the Founder/CEO of CIDAN Investments Limited. Prior to this position, he was the Managing Director for MEDX Health Insurance; Head of Corporate Finance and Research at NTHC, Head of Corporate Finance and Research at Sterling Financial Services Group, Business Consultant with EMPRETEC and a Senior Financial Analyst with Databank Financial Services. He has 20 years working experience in various fields including Economic Analysis, investment banking, Financial Risk Management and Consulting. He currently sits on a number of Boards including Universal Oil Company, Unique Life Assurance, and VITALITY Health Insurance. Raziel holds a PhD degree in Financial Management from the Northcentral University, Arizona (USA); Masters degree in Economics with specialization in Quantitative Analysis and Financial Modeling from the Graduate School of Development, the Hague (Netherlands) and a B.A degree in Economics from the University of Ghana, Legon. He is a member of the following Professional Associations: Licensed International Financial Analyst (LIFA) – USA and CANADA, Chartered Financial Analyst (CFA) Institute, Virginia – USA; Global Association of Risk Professionals (GARP) – New Jersey, USA; International Research Association (IRA), USA; and the UK Investment Professional Association.
5. Mrs . Elsie Enninful Adu- Parkstone Capital Limited
Profile will be updated soon
6. Ms Yvonne Oppong-Ayisi - Fidelity Custody Services

Ms Yvonne heads Fidelity Bank’s Custody and Escrow Services. She is a Fellow of ACCA and member of the Securities & Investment Institute (UK). As a certified chartered accountant with extensive post qualification capabilities in financial and fund management reporting, Yvonne brings both local and international experience to the Association.
  Prior to joining Fidelity Bank as a Financial Analyst  in 2009 she worked with JP Morgan Chase & Co. in the UK as a Fund Accountant acquiring an enviable mix of business competences in the provision of independent accounting and reporting services in equities, unit trusts, OIECS, bonds and derivatives and custodial services to Institutional Pension Clients. She has in-depth knowledge and understanding of the Pension Industry.

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