The Capital Markets Authority (CMA) has announced in a statement released on Tuesday that its Chief Executive Mrs Stella Kilonzo will not seek renewal of her 4 year contract once it expires on June 30th.
Mrs Stella Kilonzo can be praised for transforming the CMA from a moribund government institution to an active stakeholder in the activities of the stock and bond market. “The Authority is appreciative of the leadership of Mrs Kilonzo and the major milestones achieved during the last four years, which has enhanced the profile of the Kenyan capital markets in the region and internationally…this is key to attracting additional fund flows into the country and mobilizing funds to support the Vision 2030 flagship projects…” read the statement in part.
The Tuesday announcement comes at a time when Kenyan capital markets are extremely active. This year several listed companies have plans to carry out rights issues while a number of large companies such as Chase Bank have expressed interest at listing.
It is worth noting that it is during her tenure that a couple of stock brokers have been deregistered such as Ngenye Kariuki Stockbrokers and Discount Securities Limited. It is also during her tenure that companies have been suspended and the suspension subsequently lifted.
Read more on this story in the Business Daily.