CMA enhances outreach within the counties
Kisumu November 18, 2014…As part of its efforts to enhance capital markets outreach within the counties, the Capital Markets Authority has organised a series of events in Kisumu County in partnership with capital markets industry stakeholders and the Kenya National Chamber of Commerce and Industry Kisumu branch, which include stakeholder engagement sessions and Open Days, from 18-22 November 2014.
The events are geared at enhancing financial literacy, and in particular ensuring that the investing public in Kisumu County and its environs appreciate the various opportunities for investment in the capital markets industry.
The education strategy will cover a wide spectrum of stakeholders including outreach to the youth and women who are a key segment of Kenya’s population whose involvement in mobilising savings and investments through the capital markets is key to catalysing economic development in the devolved environment.
CMA has also organised a Forum for the County Government and the Business and professional Community at Kisumu Hotel on November 19, 2014 and Open Days to be held from 20th to 22nd November, 2014 at the Kisumu Central Square, targeting the general public, including the business and professional community, within Kisumu County and its environs. Some of the institutions expected to exhibit at the Open Days include, the Capital Markets Authority, the Central Depository and Settlement Corporation, Fund Managers, Stockbrokers, Custodians, Investment Banks, Investment Advisors among others.
Mr Muthaura noted that the county outreach underpins the Authority’s commitment to enhancing financial education, in recognition of the important role it plays in mobilizing savings and investments. He observed: ‘’Financial literacy is a key priority under the ten-year Capital Markets Master Plan (2014-2023) for supporting development and economic transformation, which are key pillars of the country economic blueprint, Vision 2030’’.
Mr Muthaura added that the investing public is key to the capital markets industry and financial literacy will enable them provide capital in response to the supply of capital markets products and services offered by issuers such as listed companies, government and corporate bonds, and county and municipal bonds in the future.
The Authority has also been running a national trivia competition, the first ever hosted by a financial sector regulator. The national trivia allows participants to answer capital markets-related questions through subscription to SMS short code 20727 with the chance of walking away with the top prize of Kshs200,000 worth of securities listed at the Nairobi Securities Exchange and other monetary prizes. The national competition closed on 17 November 2014.
Notes to Editors:
Capital Markets Authority
The Capital Markets Authority was set up in 1989 as a statutory agency under the Capital Markets Act Cap 485A. It is charged with the prime responsibility of both regulating and developing an orderly, fair and efficient capital markets in Kenya with the view to promoting market integrity and investor confidence. The regulatory functions of the Authority as provided by the Act and the regulations include; Licensing and supervising all the capital market intermediaries; Ensuring compliance with the legal and regulatory framework by all market participants; Regulating public offers of securities, such as equities and bonds & the issuance of other capital market products such as collective investment schemes; Promoting market development through research on new products and services; Reviewing the legal framework to respond to market dynamics; Promoting investor education and public awareness; and Protecting investors’ interest. For further information contact; Antony Mwangi, Head of Corporate Communications on Email: amwangi@cma.or.ke
