BMX LeadershipApproved by NBFIRA

Our Leadership

The Board and executive team building the Botswana Mercantile Exchange into a transparent regional commodities marketplace.

Governance

Board of Directors

Approved 28 May 2026

Aupa Monyatsi

Board Chair

Board

Group CEO of the Botswana Stock Exchange and Chairperson of the BMX Steering Committee. Aupa brings group-executive leadership across exchanges and financial services.

Group CEO, Botswana Stock Exchange Limited
Group CEO, Letshego Holdings Limited
Chief Operating Officer, Letshego Holdings Limited
Managing Executive — Virtual Channels, ABSA Bank

Lynette Armstrong

Board Director

Board

A chartered accountant and former mining-sector chief executive, Lynette brings deep financial leadership and governance experience.

Acting Managing Director, Debswana Diamond Mining Company
Chief Financial Officer, Debswana Diamond Mining Company
Director, First Capital Bank
Past boards: Debswana Pension Fund, Morupule Coal Mine, BoFiNet

Dr. Kadri Alfah

Board Director

Board

Accomplished economist and commodity exchange founder with deep expertise in agricultural markets, trade policy, and sustainable development across Africa.

Founder & Director, Elakad Consults Limited
International Consultant, IFC — The World Bank Group
Founder & CEO, Ghana Commodity Exchange
Country Manager — East Africa, East Africa Exchange

Tapiwa Masie

Board Director

Board

A legal and trade-law specialist, Tapiwa contributes regulatory, enforcement and special-economic-zone expertise.

Acting CEO, Special Economic Zones Authority
Director Legal & Board Secretary, Special Economic Zones Authority
Acting Director, Legal & Enforcement, Competition & Consumer Authority

Rose Mambo

Board Director

Board

A capital-markets and depository leader, Rose brings extensive exchange, clearing and settlement governance experience.

CEO, Central Depository and Settlement Corporation (2007–2019)
Head of Legal & Compliance, Nairobi Securities Exchange
Board Chair: Acorn Investment Ltd, Airtel Money Kenya Ltd
Director: Development Bank of Kenya, Onfon Mobile Ltd

Management & Analysis

Executive & Analysis Team

Leading operationalisation, strategy, market development, and intelligence

Dr. Kadri Alfah

Chief Executive Officer

Executive

Dr. Alfah leads BMX with a vision to transform Botswana's commodity markets through innovation, transparency, and regional integration. He brings first-hand experience establishing exchanges across Africa.

Founder & CEO, Ghana Commodity Exchange (2018–2020)
International Consultant, IFC — The World Bank Group
Country Manager — East Africa, East Africa Exchange

Lame Botshoma

Senior Commodities Analyst

Executive

A CFA and CAIA charterholder, Lame leads commodity analysis at BMX with an investment-management and advisory background.

Senior Commodities Analyst, BMX
Investment Analyst, CEDA
CIO Designate, Strategic Wealth

Sayi Dewah

Commodities Analyst

Executive

Sayi combines markets and corporate-communications experience, having traded and analysed securities earlier in his career.

Commodities Analyst, BMX
Corporate Communications Officer, Botswana Development Corporation
Stock Market Trader & Analyst, Stockbrokers Botswana

Tlotlo Rantsetse

Commodities Analyst

Executive

An economist with development and investment-attraction experience, Tlotlo supports market and product analysis at BMX.

Commodities Analyst, BMX
International Development Economist, Embassy of Japan
Investor Attraction Officer, Special Economic Zones Authority

Steering Committee

Implementation Workstreams

Five workstreams oversee delivery under the BMX Steering Committee, chaired by Aupa Monyatsi.

Governance & HR

Board establishment, regulatory submissions, recruitment, and the risk & compliance framework.

Technology & Platforms

ICTAS implementation, platform providers, and architecture capacity and capability.

Operations

Business operations, revenue opportunities, product development, and operational set-up.

Ecosystem Development

Stakeholder engagement, warehouse registration, broker accreditation, and international affiliation.

Commercial & Finance

Finance, investment, procurement, feasibility, and budget management.

Our Objectives

BMX is built to diversify the economy, deepen market efficiency, and advance regional integration.

Market Integrity

Transparent price discovery and trade authentication through robust market infrastructure.

Regional Integration

A logistics and trading hub linking Botswana with SADC and beyond.

Diversification & Growth

Creating new markets for producers, supporting jobs and economic growth.