The Capital Markets Authority (CMA) has received recognition for being the Most Innovative Capital Markets Regulator in Africa for 2016.

The award was conferred by International Finance Magazine, a quarterly magazine circulated in over 185 countries worldwide.

The awards, which were launched in 2012, are designed to promote and recognize innovation in the financial services sector with special focus on improving business performance.

CMA Chief Executive Officer Paul Muthaura said the award was a recognition of the efforts by CMA to position Kenya’s capital markets as an investment destination of choice for domestic, regional and international fund flows.

He explained that CMA has been honoured to work with the wider industry to implement innovations such as the development of the 10-year Capital Market Master Plan, development of a responsive regulatory framework, the most recent being Policy Guidance Notes for Exchange Traded Funds and Asset Backed Securitization, together with corporate governance reforms including the development of a new Code of Corporate Governance Practices for Issuers of Securities to the Public and a Stewardship Code for Institutional Investors.

The developments are expected to position the capital markets to play a pivotal role in mobilizing long term funding to support critical development projects in Kenya as espoused in the Vision 2030 blueprint and also transform Nairobi into an international financial hub.

The Authority has also recently been recognized as the third ‘Best Employer To Work For’ among medium-sized companies in Kenya.

The award was issued by Deloitte following a survey of large and medium sized companies in Kenya. In 2015, the authority was recognized as the ‘Most Innovative Regulator of African Capital Markets’ by Africa Investor.

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