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PRESS RELEASE

CMA begins search for Chief Executive successor

Nairobi, 3 September 2019…The Board of the Capital Markets Authority (CMA) has announced the start of a process to identify a suitable candidate to succeed the current Chief Executive Mr. Paul Muthaura, to ensure a smooth transition. The process began today through publication of a job advertisement, which will remain open until 27 September 2019. The position will fall vacant in January 2020 and follows Mr. Muthaura’s recent notice of intention not to renew his contract when it expires on 31 December 2019.

The Cabinet Secretary National Treasury and Planning will appoint a new Chief Executive on recommendation of the Board of the Capital Markets Authority for a four-year renewable contract.

CMA Board Chairman Mr. James Ndegwa observed that the Chief Executive’s role would provide vision and leadership in the regulation and development of Kenya’s capital markets. ‘The future Chief Executive will also be responsible for developing and implementing strategies to effectively address emerging issues, risks and opportunities in the markets to safeguard investor confidence and market integrity’, he added.

Interested candidates can access the detailed job advertisement on the CMA website www.cma.or.ke.

ENDS

BACKROUND INFORMATION ON THE CAPITAL MARKETS AUTHORITY

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 more information, please contact: Antony Mwangi, Head of Corporate Communications on This email address is being protected from spambots. You need JavaScript enabled to view it.