NSE Board taps Frank Mwiti’s Expertise

The Board of the Nairobi Securities Exchange Plc (NSE) Appoints Mr. Frank Mwiti as its New Chief Executive

The Board of Directors of the NSE is pleased to announce the appointment of Mr. Frank Mwiti as the new Chief Executive of the NSE effective 2nd May 2024, subject to appropriate regulatory approvals by the Capital Markets Authority.

  The appointment follows comprehensive, and rigorous recruitment process.

Mr. Mwiti is a dynamic and accomplished business leader with more than two decades of diverse and international professional experience in strategy, governance, business development, risk management, corporate finance, mergers & acquisitions, and performance improvement.

He brings with him extensive experience in the above fields and is the outgoing Partner and Eastern Africa Markets Leader, for Ernst & Young (EY), responsible for leading strategic business development of EY’s assurance, tax, consulting, strategy and transactions services across Kenya, Ethiopia, Uganda, Tanzania, Rwanda, Burundi and South Sudan.

Previously he worked as a Manager, Banking and Capital Markets Advisory at PricewaterhouseCoopers (PwC) and EY, United Kingdom (UK) as well as an Associate Director, Investment Banking, UBS, UK. Mr. Mwiti equally served as a Management Consultant, Investment Banking at Deutsche Bank, UK and as Chief Executive Officer and Managing Director, Afrika Kapital, UK, a firm he founded and in which he was involved in advising Deutsche Bank and Lloyds Banking Group across forex, equities, fixed income, commodities, synthetics and listed derivatives in London, New York, Frankfurt, Singapore, Moscow and Hong Kong.

Commenting on the appointment, Mr. Kiprono Kittony, Board Chairman, NSE noted, “the Board is delighted to welcome Mr. Mwiti to the NSE. We are extremely confident of Mr.Mwiti’s strategic capabilities and exceptional experience across frontier, emerging and developed financial markets and will play a critical role in accelerating the next phase of growth of the NSE as well as support Government’s capital markets agenda.

The Board will accord him the necessary support to implement strategic initiatives that will accelerate the company’s growth and enhance Kenya’s appeal to international investments”.

“The Board would also like to extend its sincere appreciation to Mr. Geoffrey Odundo, the outgoing Chief Executive, for his dedicated service and stellar performance as the Chief Executive.

Through his pioneering vision, he has transformed the NSE into a world class exchange anchored on wide variety of globally accepted investment products and cutting-edge technology including Real Estate Investment Trusts (REITs), Exchange Traded Funds (ETFs),
Derivatives, Green Bonds, the Ibuka Program and the Unquoted Securities Platform.

Mr. Odundo has also been instrumental in commercializing the Exchange, which is today a publicly listed company with ownership interests in the region.

He has also championed the Sustainability agenda in the capital markets, especially the issuance of the NSE Environmental, Social and Governance (ESG) Disclosures Guidance Manual” he added.

To further support an efficient management transition between Mr. Odundo and Mr. Mwiti, the Board has appointed Mr. David Wainaina as the Acting Chief Executive effective 2nd March 2024 up to 1st May 2024. Mr. Wainaina is the current NSE Chief Operating Officer.

He has over 18 years’ experience in the capital markets and has been central in the implementation of key projects, including the automation of the equities and the fixed income markets for the Bourse.

The Board remains committed to ensuring that the Exchange is vibrant, innovative and an attractive platform for capital raising and also will continue working with key stakeholders to deepen the Kenyan capital market and also support in the delivery of the Government’s economic agenda.