NSE picks Jamii Bora bank boss to chair the bourse

Nairobi Securities Exchange (NSE) has appointed Samuel Kimani as their new chairman of the board.

Kimani  is serving as Jamii Bora Bank chief executive officer and Previously served as KCB Group finance director and later as the deputy CEO. He has also served at the Central Bank of Kenya in various capacities.

He was also a board member at Uchumi 2 weeks ago before quiting.

Kimani takes over from Eddy Njoroge, who stepped down from the NSE Board on June 2, 2016 after nine years, six of which he served as chairman. The NSE board also re-elected Bob Karina as its vice-chairman.

Kimani sits on the board of the Kenya deposit Insurance Corporation and the Advisory board of University of Stellenbosch Executive Development (USB-ED).

He holds a bachelor in civil engineering and an MBA both from the University of Nairobi, certified public accountant of Kenya and an alumnus of the Advanced Management Program of Harvard University.

The Board also re-elected Mr. Bob Karina as its Vice-Chairman.

Mr. Kimani, takes over from Mr. Eddy Njoroge, who stepped down from the Board on June 2, 2016 after nine years, six of which he served as Chairman. Mr. Njoroge, successfully steered the Company as it achieved various milestones including demutualization and subsequent listing, launching of new market segments including the Growth Enterprise Market Segment and Real Estate Investment Trusts (REITs) and an organizational restructuring in line with the Company’s 2014-2019 Strategic Plan.

Speaking on behalf of the Board, Mr. Bob Karina, noted, “After a thorough and rigorous process, the Board of Directors has today appointed Mr. Kimani as the next Chairman of the NSE. His leadership skills, experience and wealth of knowledge will be instrumental in driving the NSE’s aggressive Strategic Plan aimed at developing the Kenyan Capital Markets and growing the NSE into being “a leading Securities Exchange in Africa”.

Speaking on his appointment, Mr. Kimani noted, “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.

I am very confident that in line with our Strategic Plan, the Exchange will continue to further entrench its vision through continuous product innovation and technology enhancement. I look forward to working together with the NSE Board, staff and stakeholders. I am confident that this is a pivotal era for the NSE as we seek to enhance investor participation in our Market.”

The Board expressed its profound gratitude to Mr. Eddy Njoroge for his able leadership and wished him well in his future endeavours.

Shareholders also re-elected Ms. Sharon Maviala and Mr. Hosea Kimutai Kili as Non-Executive Independent Directors, and elected a new entrant- Mr. Paul Vollant, through a poll conducted at the recently concluded 62nd Annual General Meeting. The appointment of Mr Paul Vollant is subject to his clearance by the Capital Markets Authority.