Nairobi October 09, 2014….The Capital Markets Authority (CMA) has been nominated for the finals of the Microsoft Convergence 2014 Europe Customer Excellence Awards. The Customer Excellence Awards is a global programme designed to recognize Microsoft customers for achieving outstanding success with their Microsoft solutions. CMA sourced software and support infrastructure for its Enterprise Resource Planning systems from Microsoft in 2013 to facilitate business process re-engineering, aimed at enhancing efficiency and service delivery.

CMA has been nominated alongside major global brands including; Barclays, Bridgestone Corporation, Ericsson, Hugo Boss, Caterpillar, Chanel, Citi, Dell, Ford, Fujitsu, Konica Minolta, Nestle, Nissan, Pepsi, Shell, Siemens, Toshiba, and Volkswagen. 

CMA invested Ksh127 million in Risk-Based Supervision (RBS) and Enterprise Resource Planning (ERP) systems with funding from the World Bank through the National Treasury Financial and Legal Sector Technical Assistance Project (FLSTAP). The customization and implementation of the project was done by Attain Enterprise Solutions. 

Commenting on the development, CMA Acting Chief Executive Mr Paul Muthaura, said the nomination was a recognition of the Authority in its quest to enhance the customer experience for all stakeholders in Kenya’s capital markets. Mr Muthaura observed that the investment is also aligned to the Authority’s vision of being a world-class regulator of a vibrant capital market.

CMA’s Director of Market Operations, Mr Wycliffe Shamiah, explained that the RBS system complements the Risk Based approach to market supervision and augments the investment in a robust market surveillance system unveiled in June 2012. ‘’The Risk Based Supervision system allows the Authority to step up its oversight role by leveraging technology to improve the efficiency of its supervision activities including licensing, approvals, and inspections, analysis of returns, investigations, and enforcement’, added Mr Shamiah’. 

The RBS system incorporates an online platform that allows companies to make applications for licenses online. Companies are now able to apply for approval of offer of securities to the public through the new system. 

The system includes a back office module that allows automated processing of all applications made to the Authority. The Authority previously received applications and submissions from its licensees and issuers of securities manually. 

Mr Shamiah observed, ‘’the system allows listed companies, stockbrokers, investment banks, fund managers, and other licensees to file statutory returns online. This ensures improved compliance as well as enables the Authority to rapidly analyze the information and proactively make the necessary interventions in a timely manner’’. The system also further enhances efficiency by allowing the Authority staff performing inspections and investigations to keep electronic files of all their findings for easier retrieval and enhanced security. 

Mr Muthaura explained that the system also enables investors aggrieved by any of the players within the capital markets, to lodge complaints online, which affords them a convenient option, supported by a timely feedback mechanism throughout the resolution process. 

Under the same project, CMA also implemented an off-site disaster recovery and business continuity solution that ensures uninterrupted operation and security of data and documents in the event of a disaster. 




The Capital Markets Authority (CMA) was set up in 1989 as a statutory agency under the Capital Markets Act Cap 485A. It is charged with the prime responsibility of both regulating and developing an orderly, fair and efficient capital markets in Kenya with the view to promoting market integrity and investor confidence. The regulatory functions of the Authority as provided by the Act and the regulations include; Licensing and supervising all the capital market intermediaries; Ensuring compliance with the legal and regulatory framework by all market participants; Regulating public offers of securities, such as equities and bonds & the issuance of other capital market products such as collective investment schemes; Promoting market development through research on new products and services; Reviewing the legal framework to respond to market dynamics; Promoting investor education and public awareness; and Protecting investors’ interest. For further information, please contact: Antony Mwangi, Head of Corporate Communications on Tel: 2264204, 0722 825227 or Email:This email address is being protected from spambots. You need JavaScript enabled to view it." data-mce-href="mailto: This email address is being protected from spambots. You need JavaScript enabled to view it."> This email address is being protected from spambots. You need JavaScript enabled to view it.

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