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Malawi Stock Exchange bids farewell to Symon Msefula

The Malawi Stock Exchange (MSE) last Thursday evening hosted a cocktail reception in Blantyre to bid farewell to its long serving Chief Executive Officer Symon Msefula who has retired after serving for 13 years at the exchange.

The bourse’s long serving Chief Operations Officer, John Kamanga, has since been appointed acting CEO and is expected to take over the reins once necessary approvals have been obtained from the Reserve Bank of Malawi.

MSE board chairperson, Augustine Chithenga, in his remarks, said Msefula has contributed tremendously to the growth of the Malawi Stock Exchange during the years he had been at the helm of the trading house.

“He provided sound and strategic leadership that has enabled the Malawi stock market to grow in size and depth,” said Chithenga.

On his part, Kamanga said Msefula has left MSE in good shape, describing him as a pillar in the development of and laying strategic foundations of the Malawi Stock Exchange.

“It was he who helped build the very foundations that have made the exchange reach this level of public repute and success,” said Kamanga.

Msefula’s time as CEO at MSE saw the listing of companies such as First Merchant Bank, Mpico, NBS Bank, National Investment Trust Limited, Real Insurance, Sunbird and TNM that brought the number of counters to 15 on the exchange.

Msefula said he took over the leadership at MSE when it was just one-and-half-year-old and faced the challenge of setting up the operations and market of the stock exchange.

“This was just a nascent market and we had to improvise some things to make things work,” said Msefula.

MSE started in 1996 but operated under Stockbrokers Malawi Limited until 2001 when it became an autonomous institution with Thom Mpinganjira as its first CEO. Msefula took over from Mpinganjira who left to establish First Discount House (FDH).

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