NAIROBI, Kenya, Sep 3- The board of Capital Markets Authority has kicked off the search for a new Chief Executive Officer to succeed Paul Muthaura whose term ends this year.
The search for the CEO has been announced in a job advertisement with applicants asked to apply until September 27, 2019, when it will be closed.
CMA board Chair James Ndegwa the new CEO, who will serve in a four-year term, will be expected to provide vision and leadership in the regulation and development of Kenya’s capital markets.
The CEO will also be responsible for developing and implementing strategies to effectively address emerging issues, risks and opportunities in the markets to safeguard investor confidence and market integrity.
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 (2014-2023) to become the heart of African capital markets.