GOVERNANCE

Africa Tech Index AT50 Index

External Governance & Oversight

The AT50 Index is supported by an external governance and oversight structure designed to promote transparency, consistency, and accountability. The governance framework is strictly ring-fenced from all commercial partnerships and sponsorship activities to maintain impartiality.

Governance Structure

Two external bodies govern the index, one focused on capital markets posture and the other on methodology. An administrative Secretariat supports both.

External Council

Capital Markets Readiness Council

External capital markets perspective ensuring market integrity and exchange alignment.

Composition

Exchange executives, market infrastructure operators, index specialists, investor and regulatory experts with deep African capital markets experience.

Key Responsibilities

  • • Strategic guidance on capital markets readiness indicators
  • • Review market-referencing inputs and disclosure standards
  • • Ensure alignment with international index standards
  • • Annual governance effectiveness assessment

Meeting cadence: Quarterly + ad-hoc for material events

External Committee

Methodology & Inclusion Committee

Independent methodology stewardship and inclusion oversight with technical expertise.

Composition

Index methodologists, governance experts, experienced technology operators, and academic researchers with quantitative and qualitative assessment expertise.

Key Responsibilities

  • • Quarterly inclusion/exclusion decisions with documented rationale
  • • Maintain six-pillar framework and scoring methodology
  • • Review data quality, sources, and validation processes
  • • Handle methodology appeals and dispute resolution

Meeting cadence: Monthly + quarterly formal reviews

Administrative Support

Governance Secretariat

External administrative function that coordinates committee operations, maintains documentation and audit trail, manages submissions and corrections, and supports the quarterly review and disclosure cadence. The Secretariat does not participate in scoring or inclusion decisions.

Inaugural Governance Cohort

12 confirmed members across exchanges, banking, law, venture capital, and market infrastructure.

KEFull Council

Karima El Hakim

Egypt

Plug and Play

Partner

Venture CapitalPlatform PartnershipsScale-up Ecosystems
CGFull Council

Chris Godman

UK

Standard Bank

Head, International ECM and Technology Advisory

Equity Capital MarketsTechnology Investment BankingIPO Advisory
AAFull Council

Abi Ajayi

UK

London Stock Exchange

Head of Listing, Middle East & Africa

Exchange Primary MarketsCapital FormationMarket Structure
AWFull Council

Ariel White-Tsimikalis

UK

Goodwin

Partner

Capital Markets LawGrowth Company GovernanceSecurities Regulation
IAFull Council

Iyin Aboyeji

Nigeria

Future Africa

Partner

Venture CapitalFounder ScalingPan-African Tech Strategy
JDFull Council

Janade Du Plessis

South Africa

Launch Africa

General Partner

Venture CapitalEarly-to-Growth InvestingFounder Support & Scaling
YIFull Council

Yvonne Ike

UK

Bank of America

Head, Africa

Corporate BankingFinancial MarketsInvestment Banking
MAFull Council

Mohamed Aladdin

Egypt

Development Partners International

General Partner

Venture CapitalScale UpsCapital Formation
AHFull Council

Ali Hussein

Kenya

Fintech Africa Network

Head

Fintech EcosystemsIndustry PolicyMarket Connectivity
TAFull Council

Tracy Austin

South Africa

Tangerine Advisory

Director

Capital Markets AdvisoryCorporate StrategyGovernance & Risk
ISFull Council

Ibrahim Sagna

UAE

Silverbacks Holdings

Executive Chairman

Venture CapitalPrivate Alternative InvestmentTechnology and Entertainment
COFull Council

Carl Odame Gyanti

Kenya

Standard Chartered

Director

Corporate & Investment BankingStructured FinanceCapital Solutions

How We Work

Four quarterly reviews each year, with continuous oversight in between.

Quarterly cycle

Each review cycle

  1. 01Data collection and normalization
  2. 02Committee review and documented outcomes
  3. 03Verification and quality checks
  4. 04Publication of index updates and methodology notes

Between reviews

Continuous oversight

  • • Conflict monitoring and recusals
  • • Material event review
  • • Stakeholder submissions and corrections channel

Ethics & Conflict Controls

Independence is enforced through declared, documented, and auditable controls.

Annual declarations

All members file an annual conflict declaration with ongoing updates as circumstances change.

Immediate disclosure

Potential conflicts must be disclosed immediately, before deliberation begins.

Mandatory recusals

Conflicted members recuse from relevant decisions; recusals are recorded in governance notes.

Information barriers

Restrictions apply on sharing non-public index information outside the council.

Trading prohibitions

Members are prohibited from trading on the basis of non-public council decisions.

Audit trail

All governance actions are logged in an internal audit trail with review notes and approvals.

Principle

Independence

Council operates free of commercial influence, with mandatory disclosures and recusals.

Principle

Transparency

Material decisions are documented, and governance summaries are published periodically.

Principle

Consistency

Criteria are applied consistently across companies and jurisdictions, based on published rules.

Principle

Accountability

Governance actions maintain an internal audit trail, supported by review notes and approvals.

Governance Inquiries & Submissions

For governance questions, data submissions, or correction requests, contact the Governance Secretariat.

Members serve in a governance capacity and do not provide investment recommendations.

Important disclosure: AT50 Index is a benchmark, it is not an investable product and does not constitute investment advice.

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