4AX appoints RainFin CEO Sean Emery as interim CEO
Sean will be taking over from Fay Mukaddam until her successor has been appointed.
Alternative stock exchange 4 Africa Exchange (4AX) has announced the appointment of Sean Emery as its interim CEO.
Sean is a seasoned entrepreneur and has pioneered investments in the Fintech (known as financial technology) industry in Africa since 2010. The majority of this time has been focused on taking an active CEO role on behalf of his investment firm in founding RainFin.com. He is also a non-executive director of TSS Capital.
Prior to founding RainFin, Sean served as a director on the boards of companies including Trade Information Services (TIS), Abu Dhabi Media Company, Arvato Mobile South Africa, Mondie Limited, GETMO Arabia, and Johnnic e-Ventures. He has also served as the CEO of TIS and Arvato Mobile.
Sean will be acting as CEO after the resignation of Fay Mukaddam, who will be taking a sabbatical in anticipation of focusing on special projects and her independent advisor and non-executive board appointments. She will remain with the company as an active shareholder and will continue to support the business operations in other positions. She will also be leading the rigorous recruitment process for her successor.
About her resignation, Mukaddam said:
“When I accepted the founding CEO role, I was excited about the challenge of leading this disruptive business out of the business plan phase to evolve into an operating reality. After more than a year of successful operations, a base of five listed companies and a total market capitalisation of just under R7 billion, I feel I have achieved my initial goal - and 4AX finds itself at an exciting new juncture!”
“Reflecting on this and the journey that has brought us to where we are today, I have immense satisfaction that 4AX has moved from being a start-up and has entered its growth phase. I am immensely proud that our team has secured the foundation. It is with this in mind that I believe the time is right for the business to build on its established base and successes, and to thrive under the leadership of a new CEO in this next phase of its lifecycle and growth,” said Mukaddam.
4AX officially began trading on the 28 September 2017 with its first two issuers listings – NWK Limited and NWK Holdings Limited. Since then, three more issuers have listed on 4AX, including CA Sales Holdings Limited, Heartwood Properties Limited and Assupol Holdings Limited. The exchange has several more issuers in the pipeline.