NSE

2022 - 10 - 11

nse kenya

Post cover — Image courtesy of "Business Daily"

NSE pushes for law change to scrap chair, CEO term limits (Business Daily)

The Nairobi bourse board has submitted a request to CMA seeking approvals extending the terms of CEO Geoffrey Odundo and the chairman, Kiprono Kittony.

“We received a request from the Nairobi Securities Exchange to amend our regulations to make the exchange a fully listed company. Currently, the NSE is regulated both as a listed company, having gone public in September 2014, and as a licensee of the CMA, which places it under the term limits set in the CMA regulations. NSE is undergoing restructuring and one of the points they are asking is for review of the term of the chairman, which is for two years total, and that of the CEO,” the CMA told the Business Daily in an e-mail response. They require the chairman to serve for a maximum of two consecutive years and chief executive’s term of four years that is renewable once. The NSE chief executive is expected to serve for a maximum of eight years and the chairperson for two years under CMA regulations. The market regulator says the NSE has cited ongoing restructuring of the exchange and need for continuity as the reasons behind the request to scrap the limits.

President Ruto NSE early arrival sends corporate chiefs into frenzy (Business Daily)

President William Ruto was received by Nairobi Securities Exchange chairman Kiprono Kittony during the bell-ringing ceremony to mark the launch of the ...

[By OTIATO GUGUYU](/bd/markets/capital-markets/ruto-pledges-to-end-six-year-ipo-drought-with-10-listings-3981146)By OTIATO GUGUYU [By FRED KIBOR](/bd/economy/kra-installs-smart-gate-to-reduce-congestion-at-oil-depot-3981690)By FRED KIBOR “The other historical thing apart from your Excellencies being here is I cannot remember the last time we’ve had a high-level function as this on time.

President Ruto: We'll add 10 more companies to NSE in next 12 ... (The Standard)

President William Ruto has said that the government is keen on expanding the composition of the Nairobi Securities Exchange.

The president said when public companies do well in the NSE, the government stands a great chance of getting capital from the bond market. This would be better than gambling,” he said. Speaking on Tuesday, October 11 at the NSE office in Westlands, Nairobi, President Ruto said the listing of ten more companies to the bourse would present an opportunity for more Kenyans to hold shares and improve their economic wellbeing.

Govt to support privatization of state owned firms to boost NSE listings (Capital FM Kenya)

NAIROBI, Kenya, Oct 11 – The Kenyan government is seeking to increase the number of listed State Owned Enterprises at the Nairobi Securities Kenya breaking ...

“I am reliably informed that investment is a function of savings. The Head of State also encouraged the private sector companies to work together with the Capital Markets Authority(CMA) and the NSE to list. NAIROBI, Kenya, Oct 11 – The Kenyan government is seeking to increase the number of listed State Owned Enterprises at the Nairobi Securities Exchange(NSE).

William Ruto at NSE: President Graces Launch of Enhanced Market ... (Tuko.co.ke)

President William Ruto, deputy president Rigahti Gachagua and Trade CS nominee Moses Kuria attended the Nairobi Securities Exchange (NSE) Market Place ...

I also look forward to the time when a boda boda guy or a mama mboga will trade on their phone as he or she awaits the next customer instead of betting. [following Safricom's poor performance](https://www.tuko.co.ke/business-economy/industry/476231-safaricom-shares-nse-drop-record-ksh-24-rates-hike/). "I look forward to many Kenyans buying, selling, and growing their wealth using NSE. [Tanzania](https://www.tuko.co.ke/tag/tanzania-news/) [ gas pipeline connection from Dar es Salaam to Mombasa](https://www.tuko.co.ke/business-economy/energy/476993-william-ruto-samia-suluhu-agree-deal-connect-gas-dar-es-salaam-mombasa/). [boost the NSE stock market growth](https://www.tuko.co.ke/414711-functions-nairobi-stock-exchange-role-economy.html). [William Ruto](https://www.tuko.co.ke/tag/dp-william-ruto-news/) has graced the opening of the Nairobi Securities Exchange (NSE) Market Place.

State to sell off 10 state firms within a year - Ruto (The Star, Kenya)

President William Ruto during the official opening of the 7th Building African Financial Markets (BAFM) Seminar in Nairobi Thursday. DPPS.

It is time for the private sector to work hand in hand with the government to better lives of our people,'' Kittony said. "The government is willing to work with you so that we can remove those impediments. The last successful privatisation by the government was the Safaricom initial public offering in 2008. I am happy that this government has seen this in early days of its rule. Stanlib Fahari REIT was the last entity to list at NSE via GEMS platform. He appealed to 15,000 member movement to take advantage of incentives given by the government to participate in the lucrative capital market place.

Credit Bank and Bio Foods get the nod to list on NSE (The Standard)

Credit Bank's listing comes at a time when many listed companies' share value is struggling due to foreign investors selling off in favour of more lucrative ...

It became a fully-fledged commercial bank nine years later. “I want to congratulate Credit Bank. President Ruto said he seeks to enable “between five and 10 public enterprises” to list within the next 12 months. He said he seeks to enable “between five and 10 public enterprises” to list within the next 12 months. Rwandan bank BK Group cross-listed in 2018. The bank has 16 branches and is ranked 26th in size in the country, according to data from the

Govt. plans to list at least five state corporations within a year (Kenya Broadcasting Corporation)

President William Ruto has said his administration has embarked on working on modalities that will see between five and ten mature state owed enterprises ...

I have instructed the CMA and other relevant departments to work on developing framework that places investor protection including the enhancement of the investor compensation fund, investor education and strict enforcement of compliance by market intermediaries as the centre of reenergized capital markets,” he added. “As part of the strategic configuration of our way forward, my administration intends to not only to focus on strengthening and deepening our capital markets to become an alternative source of development capital but also an alternative form of investment to most Kenyans,” said President Ruto. “My administration will revitalize the capital markets by embarking on privatization of State Owned Enterprises (SOEs) whereby divestiture is overdue and strategic as well as the introduction of such innovative products as a domestic dollar denominated bond,” said President Ruto during Tuesday launch of NSE Marketplace.

NSE casts net wider on state firms to be sold (The Star, Kenya)

President William Ruto flanked by his deputy Rigathi Gachagua (L) and NSE chairman Kiprono Kittony, during the bell-ringing ceremony to mark the launch of ...

This puts the likes of Mumias Sugar and East African Portland Cement Company, which are already listed, on the line. Its recommendations included trimming of the number of state agencies from 262 to 187. On Tuesday, President William Ruto said the government will bring six to 10 companies to the market through an Initial Public Offer (IPO), urging the private sector to also list at least five firms. He spoke during the bell-ringing ceremony to mark the launch of the enhanced NSE Market Place. NSE has also suggested privatisation of Kenya Reinsurance Corporation Limited (Kenya Re) in which the government holds a 60 per cent stake. •On Tuesday, President William Ruto said the government will bring six to 10 companies to the market through Initial Public Offerings (IPOs).

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