department: Capital Markets

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).

Vimal is passionate about governance, financial integrity, green/climate finance, poverty reduction, environmental conservation and sustainable finance/development through creating a positive impact on the environment and livelihoods of people.

Vimal’s extensive work experience spans across Africa, Middle East and global firms responsible for Africa and Frontier Market funds. His expertise lies in financial sector, capital markets, climate finance, sustainable development, Fintech and research. His specialities range from technical assistance, grants, investments in sustainable development capital, financial integrity, advisory and research.

At FSD Africa, Vimal is responsible for leading and managing the implementation of financial sector and capital markets development initiatives across Sub-Saharan Africa (SSA), including green bonds. He supports the execution of strategies for strengthening African capital markets, financial market infrastructure, capacity building and enhancing access to growth finance in the region. He is involved in facilitating transformative development and growth of debt/equity markets, climate/green finance, Islamic and long-term finance, alternative finance, financial integrity together with knowledge management. He is also involved in development capital and fintech work at FSD Africa.

Prior to joining FSD Africa, Vimal has provided strategic leadership, senior management and independent consultancy expertise in well-respected African and global firms in the investment banking space. He has led teams on the research front and advised on debt and equity transactions in SSA on capital raising and valuations, transaction/financial advisory, listings on stock exchanges, economic and industry research and provided strategic direction to both private and public companies in various sectors.

Vimal has presented at global conferences on thought leadership in various sectors. He is a CFA Charter holder and holds a Master in Business Administration (MBA) from Edinburgh Business School. Vimal is also a Climate and Sustainable Finance expert having studied at Frankfurt School of Finance and Management.

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 has over 17 years’ experience in capital markets development, regulation and legal practice. She is passionate about supporting transformative capital market initiatives that promote economic development in Africa.

Marycurrently manages several projects on policy and regulatory reform, market infrastructure and product development. She leads the implementation of FSD Africas flagship Africa Regulatory Support Programme (ARSP),whose objective is tostrengthen the capacity ofsecurities regulators in seven countries and the West African Economic and Monetary Union. She also coordinates FSD Africas support for the establishment of a credit enhancement facility in Kenya and leads FSD Africas work on gender bonds. She has a keen interest in green finance and exploring long term finance solutions to address Africas housing and urban infrastructure needs.

Beforejoining FSDAfrica,Maryworked at the Capital Markets Authority, Kenya (CMA Kenya)for almost nine years as Manager, Corporate Approvals, 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 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 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.