department: Capital Markets

Amos Mugi

Amos has 8 years of experience in investments and capital markets from working in Africa and in the U.S and across the public and private sectors.

He has been working as an investment professional at the Central Bank of Kenya managing the Foreign Exchange Reserves portfolio where he informed the tactical and strategic asset allocation of the portfolio, investment strategy, portfolio construction, analyzed investment risks, created and maintained quantitative models, performed due diligence on investment counterparties and conducted international markets research.

Amos previously worked at CrowdStrike in Silicon Valley, California in the Capital Markets team preparing the company for its IPO listing, debt capital raising, corporate development as well as analysis and investor relations.

Amos holds a Masters degree in Finance and Investments and a Bachelors degree in Finance from the University of Nairobi. He has undertaken a graduate program in in capital markets from the George Washington University. He also holds the Certified Financial Risk Manager (FRM) and CPA professional designations and is a fellow of the IFC-Milken Institute Capital Markets Program.

Brian Yalla

Brian is an investment and capital markets professional. At FSD Africa he manages the implementation of capital markets development initiatives and programmes in close collaboration with implementing and strategic partners including; governments, policymakers, regulators, industry associations among other stakeholders. Alongside the various stakeholders, Brian has successfully led in the design and development of some of the innovative capital markets development programmes and projects currently being implemented. Among Brian’s areas of interest are; alternative investments and maximizing their potential especially in Africa, Financial Technology, and leveraging technology to enhance the value proposition in capital markets, debt markets enhancement and sustainability, and sustainable finance.

Brian has previously worked at the Capital Markets Authority Kenya, Kenya Industrial Estates Limited and Kenya National Bureau of Statistics.

Brian holds two masters level qualifications in Mathematical Finance and Financial Engineering in addition to a bachelor’s degree in Economics and Statistics.

He holds the following professional qualifications; CFA charter and Certificate in Investment Performance Measurement (CIPM) from the CFA Institute (USA), CAIA charter from the Chartered Alternative Investment Analyst Association (USA), Diploma in Capital Markets and Certificate in Securities from the Chartered Institute of Securities and Investment (UK), Certified Expert in Sustainable Finance from the Frankfurt School of Finance and Management (GER). He is also a member of the Institute of Certified Investment and Financial Analysts, Kenya.

Jemima Gathumi

Jemima has over 15 years of experience in the development sector in Africa, gained from designing, managing and monitoring large development programmes in various countries on the continent. She believes Africa can contribute significantly to the global economy and sees finance as a key enabler for Africa’s growth and its role globally.

At FSD Africa, Jemima is the Head of Programmes, Capital Markets, leading a team of professionals in developing a coherent programme of work in capital markets. She is responsible for programme strategy, project design, project management and implementation, resource planning, budget management, monitoring and measuring results, risk management, knowledge management and communication to drive the impact of FSD Africa’s capital markets work.

Jemima is also the Lead Coordinator for FSD Africa’s work in Ethiopia. She manages FSD Africa’s relationship with FCDO, Bill and Melinda Gates Foundation and other stakeholders in Ethiopia, driving collaboration amongst FSD Africa’s delivery pillars, reporting on the status of the Ethiopia portfolio, identifying strategic opportunities and relationships and identifying and managing emerging country risks. Jemima led the establishment of the FSD Ethiopia entity, launched in May 2022.

Before joining FSD Africa, Jemima was a Senior Manager in KPMG’s International Development Advisory Services practice. She designed and executed development programmes for governments, the private sector, and bilateral, multilateral and philanthropic partners. She managed Africa-focused private sector development programmes in the agricultural and rural finance sectors. Jemima has worked in various African countries and the USA.

Jemima holds an MPhil in Development Finance (Cum Laude) from Stellenbosch University Business School and a Bachelor’s degree in law from the University of Nairobi, Kenya. She is a Fellow of the Association of Certified Chartered Accountants (ACCA). She also holds various professional certifications in Climate Finance, Agricultural Finance, Digital Economic Development, Results-based Management and Leadership.

Adebayo Araoye

Adebayo has over ten years of capital markets experience across transaction & advisory, securities regulation, strategy, and regulatory development. He has implemented various capital market regulatory initiatives, including developing market rules, review programs for listed companies and supervision framework for market intermediaries.

Adebayo joined FSD Africa from PricewaterhouseCoopers (PwC) Nigeria, a Senior Manager in PwC Nigeria’s Capital Markets Advisory practice. He supported clients in implementing capital raising strategies, including initial public offerings (IPOs), dual-track processes, and debt issuances in domestic and international markets. He worked with clients at every stage of the transaction life cycle, from conducting transaction readiness assessments and due diligence to post-listing support. He also supported capital market stakeholders such as stock exchanges, financial regulators, and development finance institutions to execute market development initiatives, conduct capital market research studies and market assessments, and design a capital market master plan.

Before joining PwC, Adebayo worked as a Team Lead in the Market Surveillance and Investigations Department of the NGX Regulation Limited (formerly the Nigerian Stock Exchange), where he coordinated the Exchange’s investigation activities on brokerage firms across all assets classes. While at the NGX, he developed and operationalised the Exchange’s investigation and enforcement frameworks as part of the new regulatory approach adopted. He also represented the Exchange on market-wide committees and forums.

Before NGX Regulation, Adebayo worked, in various capacities, at the Securities and Exchange Commission (SEC) Nigeria. He spent almost six years at the SEC, serving in two significant teams the Prudential Supervision and Enforcement Divisions. While at SEC, Adebayo participated in many capital market development projects, policies and programmes. He represented the SEC at various inter-agency programs and supported law enforcement agencies in securities law investigations; he acted as an expert witness in multiple securities litigation cases at the Administrative Proceedings Committee (APC) and the Federal High Court.

Adebayo holds a Masters’ degree in finance from the University of Lagos, Nigeria, and he is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN).

Victor Nkiiri

Victor is a Senior Financial Markets Specialist at FSD Africa. He is currently involved in the implementation of strategies for enhancing capital markets across Sub-Saharan Africa (SSA). This includes building transformative markets structures in bond markets, Islamic finance, green finance, alternative finance, catalysed through capacity building & knowledge management. Prior to joining FSD Africa, he was the General Manager Securities, overseeing the treasury team at State Bank of Mauritius (SBM) Kenya. He has extensive experience in capital markets having been a member of the Capital Markets Master Plan Steering Committee that designed the 10 year Capital markets Master plan for Kenya. Additionally, he has been a member of different forums and committees that promote capital markets development. He has been a resource person for training on fixed income in sub-Saharan Africa through the regional stock exchanges and with the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI). He holds a Bachelor of Commerce in finance and banking and currently pursuing his masters in international business management at Strathmore University.

Mary Njuguna

Mary has over 20 years of experience in capital markets development, regulation and legal practice.  She is passionate about supporting transformative capital market initiatives that promote economic development in Africa.

Mary currently oversees implementation of projects on policy and regulatory reform, market infrastructure, institutional strengthening and product development.  She coordinates FSD Africa’s support for establishment of guarantee facilities, as well as product development initiatives on gender bonds, real estate investment trusts (REITs) and securitisations, among others.

Before joining FSD Africa, Mary worked at the Capital Markets Authority, Kenya (CMA Kenya) and was responsible for coordinating the review of capital raising transactions and license applications.  Mary was also directly involved in policy and regulatory development for new products such as green bonds, exchange-traded funds, REITs and asset-backed securities as well as licensing of the first derivatives exchange in Kenya.

Prior to joining CMA Kenya, she worked as a corporate and commercial associate in A. F. Gross Advocates, a legal practice in Nairobi, providing advisory services on a variety of financial transactions in capital markets, banking, mergers and acquisitions, intellectual property and real estate.

Mary holds an MSc in Finance and Financial Law from SOAS, University of London and a Bachelors’ degree in law from the University of Manchester, UK.   She is an Advocate of the High Court of Kenya.

Evans Osano

Evans has a keen interest in how sustainable capital markets can address social and developmental challenges in Africa.

Evans has over 20 years of global experience in investments, financial markets and development finance. This spans sub-Saharan Africa, Middle East & North Africa (MENA), North America, Europe and South Asia covering over 30 countries.

At FSD Africa he leads capital markets development initiatives across sub-Saharan Africa. These include green bond markets and market infrastructure development. He also sits on the board and investment committee of the African Local Currency Bond Fund (ALCBF).

Prior to joining FSD Africa, he worked with the IFC/World Bank as Head, Efficient Securities Markets Institutional Development (ESMID) Africa. At the World Bank Group, he participated in Financial Sector Assessment Programs (FSAPs) and provided technical assistance in debt (government and corporate) and equity capital markets and institutional investors in diverse regions.

Before joining the World Bank Group, he was Chief Investment Officer/Head of Investments at AIG Global Investment Group where he headed the investment team that built and was responsible for US$1 billion assets, including a pan-African total return fund that was a pioneer investor in debt and equity markets across Africa. At AIG he was instrumental in developing investment process capabilities in equities, fixed income and alternatives.

Evans holds Doctor of Business Administration (DBA) degree from the Maastricht School of Management, Netherlands and is a Certified Public Accountant (CPA). He also holds two masters level degrees; MBA and MPhil (Development Economics). A global thought leader, he has written op-eds for prestigious publications and facilitated at high-level conferences. He has also been a visiting lecturer at the University of Cape Town.

Evans developed the first Government Bond Market Index in Kenya, a widely followed equity market index and is the co-developer of the concept of M-Akiba to distribute government securities through mobile phones.

Marc Nyunzi

Marc Nyunzi is a seasoned private sector development professional with over 12 years of experience specializing in access to finance and investment facilitation. His career spans diverse roles in project management, corporate finance and risk advisory, financial inclusion, and innovative financing, with a strong focus on fostering sustainability and impact across Sub-Saharan Africa.
Fluent in both French and English, Marc has successfully led multi-cultural teams, including remote setups, delivering transformative solutions across Francophone and Anglophone countries.
Marc’s professional journey reflects a commitment to driving private sector growth and financial market development. He began at PKF East Africa as a Consultant Analyst in the Risk Advisory Department, where he spearheaded the growth of the firm’s Francophone portfolio and supported small and medium enterprises (SMEs) in strengthening internal controls. He then joined KPMG DRC as Supervisor of Financial and International Development Advisory Services, leading private sector development programs with a particular focus on financial inclusion.
In his subsequent role at USAID, Marc served as the Private Sector and Access to Investment Team Lead and the Development Finance Corporation (DFC) Liaison Officer. In this capacity, he played a pivotal role in advancing private sector engagement and overseeing the mission’s access-to-investment portfolio. Marc led and managed projects with a strong focus on facilitating private investment deal closures, driving efforts to attract international investors and asset managers to the DRC. His work significantly enhanced the financial ecosystem and mobilized capital to support sustainable economic growth.
Marc holds an Executive MBA from the Frankfurt School of Finance and Management and a Bachelor of Commerce degree from Strathmore Business School.