Sasra CEO John Mwaka (left) with his UAP Old Mutual counterpart Peter
Mwangi during a media briefing in Nairobi on April 18, 2017. photo |
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Summary
- Sacco Societies Regulatory Authority will take up 23,463.54 square feet on the 18th and 19th floors of Old Mutual UAP Tower.
- The change of address comes ahead of a looming merger of all non-banking sector regulators and Sasra chief executive John Mwaka hinted Tuesday it was likely the three agencies could be housed under the same roof.
Sacco Societies Regulatory Authority has
unveiled a two-floor office at the Old Mutual UAP Tower days after
capital markets regulator shelved plans for new headquarters awaiting a
merger of watchdogs.
With the shift from Britam Centre
on Mara Road to Kenya’s highest building at Upper Hill, Nairobi, Sasra
will take up 23,463.54 square feet on the 18th and 19th floors.
The
change of address comes ahead of a looming merger of all non-banking
sector regulators and Sasra chief executive John Mwaka hinted Tuesday it
was likely the three agencies could be housed under the same roof.
The Cabinet approved the Financial Services Authority Bill 2016 early this month.
The
Bill creates one financial watchdog by merging the Insurance Regulatory
Authority (IRA), Capital Markets Authority (CMA), Retirement Benefits
Authority and Sasra.
“The process of merger is ongoing.
There is a steering committee that is working committee and they should
be able to give us direction on how we proceed.
“We
hope the other financial regulators will join us around here,” said
Sasra acting CEO John Mwaka when UAP-Old Mutual Group chief executive
Peter Mwangi announced Sasra as the tower’s latest customer.
The CMA shelved plans to buy a new office block mid-April due to expected merging of sector regulators.
The
money markets regulator is still housed at Embankment Plaza, in Upper
Hill. The IRA is located at Zep Re Place, the RBA at Rahimtulla Tower.
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