NAIROBI, Kenya, Apr 24 – The Capital Markets Authority (CMA) has announced that the Chief Executive, Stella Kilonzo, will not seek re-appointment for a second term and will be stepping down after the end of her four-year term on June 30 to pursue other interests.
In a statement sent to newsrooms on Tuesday, the CMA assured the facilitation of a smooth transition.
Over the last four years, CMA under the leadership of Kilonzo has enhanced the profile of Kenyan capital markets in the region and internationally, which has attracted additional fund flows into the country while mobilizing funds to support the Vision 2030 flagship projects.
Kilonzo expressed gratitude for being able to serve the nation as the Chief Executive of the Authority, which is responsible for regulating and developing orderly, fair and efficient capital markets in Kenya in order to promote market integrity and investor confidence.
“I am grateful to the board as well as to my parent Ministry of Finance and above all His Excellency the President, for the opportunities and experiences bestowed upon me and particularly the support and strategic guidance I have received during my tenure as Chief Executive,” she said.
“The authority board’s approval and the government’s approval, through the Ministry of Finance, of the key reforms including the approval of additional resources to enable my team to implement the reforms, resulted in the authority being more effective and transformed the capital markets industry in Kenya and East Africa,” she added.
Kilonzo, who received the Moran of the Burning Spear in 2010, acknowledged that during her tenure, the market has grown much stronger and sophisticated as numerous products are now either in the market or in the course of being developed and introduced for the market.