12 January 2013

Kenya: CMA Appoints Nine-Member Ethics Team

CAPITAL Markets Authority has appointed a nine member team to steer its corporate governance watchdog role over listed companies.

The chair of the Institute of Certfied Public Secretaries of Kenya Catherine Musakali has been named chairperson of the CMA corporate governance committee.

The committee members are: Maryanne Macheru of the Registrar of Companies/Attorney General's Office; Jackline Nyandege of the Ethics and Integrity Institute, Job Kihumba representing the Nairobi Securities Exchange and Geoffrey Njenga from the Center for Corporate Governance.

Others are Mirie Mwangi from the University of Nairobi Business School; Mahmood Manji representing the CMA Board; Gituro Wainanina appointed as an independent member and James Mworia representing listed companies.

The committee's responsibilities will include, guiding regular review of the corporate governance standards for publicly listed companies in adherence to best international practice and trends, driving the implementation of amendments to the corporate governance guidelines and applicable regulatory requirements.

It is also required to identify the necessary legal framework to promote corporate governance, address weaknesses in the enforcement of the such guidelines and strengthen professionalism of key stakeholders in the market.

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