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Nairobi Securities Exchange : Kenya: Kenyan stock market regulator feted for leading investment boom

10/02/2015 | 01:28pm US/Eastern

Nairobi, Kenya (PANA) - Kenya's stock market regulator, Capital Markets Authority (CMA) emerged top during the Africa Investor award series completed in New York, becoming Africa's most innovative regulator, the agency said in a statement Friday.

CMA Acting Chief Executive Paul Muthaura said the award was in recognition of the efforts by the CMA to position Kenya's capital markets as the investment destination regionally and internationally.

The regulator also issued a Stewardship Code for Institutional Investors and has recently concluded plans leading to the licensing of the first listing on the Nairobi Securities Exchange (NSE) of Real Estate Investment Trust Scheme (REITS) which is attracting foreign property firms into Kenya.

Muthaura said those developments were expected to position the capital markets to play a pivotal role in mobilizing long term funding to support critical development projects in Kenya under the Vision 2030 Economic Blue Print.

The Kenyan regulator was feted for helping to attract foreign investors by positioning the country's stock markets as a top destination for foreign and global investors.

CMA said that the award was conferred by Africa Investor, an investment and communications group, in New York.

The Pan African awards were launched in 2007 and linked to the Africa investor (Ai) Index Series to recognize the continent's best performing stock exchanges, listed companies, investment banks, research teams, regulators, socially responsible companies, and sovereign wealth and pension fund investors.

Muthaura said industry innovations pushed by the CMA included the development of a 10-year Capital Market Master Plan.

The regulator also prepared regulatory structure in readiness for trade in other commercial instruments at the securities exchange. These include the Practice Guidance Note for Exchange Traded Funds and corporate governance reforms.

The reforms covered the development of a new Code of Corporate Governance Practices for Issuers of Securities to the Public.

-0- PANA AO/AR 2Oct2015

(c) 2015 PANAPRESS. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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