NAIROBI  (Xinhua) – Kenya’s Capital Markets Authority (CMA) announced on Tuesday that its CEO Stella Kilonzo will be stepping down in June after serving the financial markets regulator for a period of four year.

CMA said in a statement released in Nairobi that Kilonzo will not seek re-appointment for a second term and will be stepping down after the end of her four-year term on June 30 to pursue other interests.

The Authority said Kilonzo’s leadership has enhanced the profile of the Kenyan capital markets in the region and internationally. This, the regulator said, is key to attracting additional fund flows into the country and mobilizing funds to support the Vision 2030 flagship projects.

“I am grateful to the Board as well as to my parent Ministry of Finance and above all His Excellency the President, for the opportunities and experiences bestowed upon me and particularly the support and strategic guidance I have received during my tenure as Chief Executive,” Kilonzo said.

She said the Authority Board’s approval and the government’s approval, through the ministry of finance, of the key reforms including the approval of additional resources to enable my team implement the reforms, resulted in the Authority being more effective and transformed the capital markets industry in Kenya and East Africa.

“The market has grown much stronger and sophisticated, numerous products are now either in the market or in the course of being developed and introduced for the market,” Kilonzo said. (Xinhua)

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