Nairobi Securities Exchange has appointed Kiprono Kittony as the board chair effective immediately replacing Samuel Kimani who resigned Monday.
Kimani has served as the chairman of the NSE board since 2012. He will remain on the board as an independent non-independent director for one more year.
“After a thorough process, the board of directors has appointed Kittony as the next chairman of the NSE,” NSE announced.
At the same time, NSE said Bob Karina will continue to serve as the Vice-Chairman of the Board for the next year.
Kittony thanked the board for having elected him to the position of chairmanship.
“I am very honored and privileged to be appointed as the next Chairman of the leading Securities Exchange in East and Central Africa. I salute the outgoing Chairman and will build on his excellent stewardship,” Mr. Kittony said.
— Kiprono Kittony, EBS (@KipronoKittony) July 13, 2020
Kittony says his main focus will be expanding listings. “Most investors are from foreign markets. I would like to do a drive for locals to invest in securities,” said Kitonny.
“His leadership skills, experience and wealth of knowledge will be instrumental in driving NSE’s 2020-2024 Strategic Plan aimed at deepening the Kenyan Capital Markets and growing the NSE to be the investment partner of choice in Africa,” the NSE board said in a statement.
Kittony has been serving as a non-executive NSE board member in 2018.
He also served as Kenya National Chamber of Commerce President for two terms since 2012 before he passed on the baton to the current President Richard Ngatia.
Kittony also serves as the chair of the Credit Reference Bureau Kenya Limited, AAR insurance Limited, Mtech Limited.
Mr. Kittony holds both a Bachelor of Commerce (B.Com) and a Bachelor of Laws (LL.B) degree from the University of Nairobi and a Global Executive MBA from the United States International University (USIU).