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Here’s why Githae should appoint a CMA chief, fast

Updated Tuesday, September 18th 2012 at 00:00 GMT +3

We revisit the ongoing violent and deadly conflict in Tana River delta must and say it ought to be halted now rather than later.

The President and the Prime Minister must come out and assure Kenyans that no more life will be lost again because it is their constitutional duty.

The Capital Markets Authority is one of those critical institutions that all investors look up to.

If not to gauge the level of confidence in the economy, investors and businessmen look at the institution for guidance and reprieve incase of disputes.

Whenever stockbrokers have concerns with their shares in any listed company — and they have been numerous, CMA is the institution to seek redress from.

CMA has under its armpit the Nairobi Securities Exchange, an institution worth hundreds of billions of shillings with investors from across the world poring over 52 listed companies representing all sectors of the economy.

The Authority also oversees investment banks and all manner of bodies investing in securities and equities across various institutions.

The CMA literally has the economy in its hands.

Time and again, it has been demonstrated that any wrong signal from the institution and capital flight is an immediate consequence while dimmed investor confidence is an automatically follow up.

It is with this in mind that it is a great concern that CMA is set to be without a substantive chief executive up to, at least, January next year.

Is the Finance Minister Njeru Githae playing plain naïveté, was the process was corrupted at some point?

Reminded by media

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