NAIROBI, Kenya, Jul 26 – Capital Markets Authority (CMA) Chief Executive Paul Muthaura is planning to exit the government financial regulatory agency early next year.
In a statement, CMA’s board says Muthaura has served notice of his intention not to seek a second four-year term when his contract expires on 01 January 2020.
Since joining the Authority in 2005, Muthaura has served in different roles including as CEO which he took over in 2012 initially under acting capacity.
“During Muthaura’s tenure as Chief Executive, CMA has been feted as the Most Innovative Capital Markets Regulator in Africa four years in row, 2015-2018, and for its Outstanding Contribution to Capital Markets Stability Africa in 2018,” Ndegwa said.
Ndegwa added that Muthaura has been instrumental in leading the team at the Authority in positioning Kenya in the regional and global capital markets arena.
This was done through enhancing the regulatory and legal framework, expanding the scope of capital markets products, and ensuring that Kenya attains the ambition of the 10-year Capital Markets Master Plan (2014-23) to become the heart of African capital markets.
The Board’s Chairman James Ndegwa assured the capital markets industry that the Board will coordinate the process of recruiting its next Chief Executive with a view to ensuring a smooth transition.