CMA ranked top regulator in Africa for its innovations

Money Markets

Capital Markets Authority acting chief executive Paul Muthaura. PHOTO | FILE 

By JOHN GACHIRI

In Summary

• Africa Investor has voted the CMA as the most innovative regulator in Africa at a ceremony in New York.

The introduction of laws and guidelines for real estate investment trusts (Reits), derivatives and other securities over the last five years have made the Capital Markets Authority (CMA) get international recognition for innovation.

Africa Investor, a communications firm, has voted the CMA as the most innovative regulator in Africa at a ceremony in New York.

The CMA has also been advocating good corporate governance.

The innovations are meant to set stage for Kenya as an international finance centre, which will make it easier for the public and private sector to attract foreign funding needed to finance the mega infrastructure projects that are currently underway or planned.

Vision 2030

“The developments are expected to position the capital markets to play a pivotal role in mobilising long-term funding to support critical development projects in Kenya as espoused in the Vision 2030 economic blueprint,” said the CMA in a statement.

Africa Investor launched the awards in 2007 to recognise the best performing stock exchanges, listed companies, regulators and research companies.

The Stock Exchange of Mauritius was awarded as the most innovative African stock exchange while FBN Capital was recognised as the best African investment bank.

South Africa’s Standard Bank was recognised for having the best research team.