The Authority, which is mandated with both regulating and developing an orderly, fair and efficient capital markets in Kenya with the view to promoting market integrity and investor confidence, was feted by Africa Investor, which is an investment and communications group.
Upon receiving the recognition in New York, CMA’s Acting Chief Executive Paul Muthaura said that the recognition was a testament to the efforts by the Authority to position Kenya’s capital markets as the investment destination of choice for domestic, regional, and international fund flows.
“CMA has led industry innovations such as the development of the 10-year Capital Market Master Plan. Additionally, we have developed a responsive regulatory framework,” he said.
Other recent achievements by the Authority include corporate governance reforms including the development of a new Code of Corporate Governance Practices for Issuers of Securities to the Public and a Stewardship Code for Institutional Investors among others.
According to CMA, the developments are expected to position the capital markets to play a pivotal role in mobilizing long term funding to support critical development projects in Kenya as espoused in the Vision 2030 Economic Blue Print.
The recognition is therefore vital for a company whose functions include licensing and supervising all the capital market intermediaries, ensuring compliance with the legal and regulatory framework by all market participants and regulating public offers of securities, such as equities and bonds & the issuance of other capital market products such as collective investment schemes among others.
Launched in 2007 and linked to Africa Investor, the Pan-African awards are designed to recognize the best performing stock exchanges, listed companies, investment banks, research teams, regulators, socially responsible companies, and sovereign wealth and pension fund investors on the continent.