Appointment of Chief Executive Officer at the Capital Markets Authority

November 20, 2020 - Reading Time: < 1 minutes - By The Vellum Team

On 19 th November, 2020 it was confirmed that the Cabinet Secretary for National Treasury & Planning, Hon. (Amb.)
Ukur Yatani, EGH, had approved the appointment of Mr. Wyckliffe Shamiah as the Chief Executive Officer of the
Capital Markets Authority, a role that he has been acting in since January 2020 following his appointment in December Prior to his appointment, Mr Shamiah was the Director of Market Operations since November 2011.

His mandate will include implementing the Strategic Plan 2018-2023, supporting regulations, and maintaining CMA’s
reputation as a high performing public sector institution. Under Shamiah’s leadership, the Authority has piloted the Securities Lending and Borrowing platform, allowed listed firms to hold virtual AGMs, and increased participants to the CMA sandbox such as Belrium Kenya and Pyypl Group Limited.

His confirmation comes at a time when there are significant concerns pertaining the ongoing contracting of the economy as a result of the Covid-19 pandemic. A key objective of the Authority is ensuring economic growth and development thus innovative measures are needed to ensure that the same is achieved.

Economists have traditionally looked to factors such as capital, labor and technology as the major factors affecting economic growth. The recent financial crisis has shown that there are substantial economic effects when there is lack of confidence in the financial systems; thus while developing the requisite innovations aforementioned, critical investment will be needed to develop the supportive framework and infrastructure needed.

Shamiah holds a Master’s in Business Administration (Finance Option) from the University of Nairobi and a Bachelor of Arts in Mathematics and Economics from Egerton University. He also possesses over 23 years of experience in market supervision, research, financial analysis and compliance at the CMA.

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