Capital Markets Authority (CMA) CEO Paul Muthaura. [Photo/businessdailyafrica.com]
Capital Markets Authority (CMA) CEO Paul Muthaura says the certification program of all players in the market will help Kenya create a highly skilled talent pool for the local and international market.
Muthaura said on Thursday that players in the capital markets will be certified after passing a mandatory exam in efforts to professionalize the industry.
“Securities Certification-By professionalizing the industry through certification, the effective combination of knowledge, skills, and behaviour will enable the market to grow over the next coming years as we edge closer to achieving Vision 2030,” he said.
Muthaura says deepening of capacity is central to ensuring that intermediaries in the capital markets are appropriately equipped to structure and advise on the broadening scope of locally available securities instruments such as asset-backed securities, global depository receipts and notes, and derivatives.
The CEO noted that Kenya has one of the highest pass rates for the Introduction to Securities and Investments Kenya (ISII Kenya) paper at 75% against a global average of 58%.
He noted that Kenya emerged 6th in the CISI’s top exam taking countries after UAE, India, Cyprus, Spain and South Africa.
“This has only been possible by virtue of the support we have received from our industry who have stepped forward to raise their competency standards,” he added.