Jimnah Mbaru new chairman of stockbroker lobby group

Jimnah Mbaru during a past event. Mr Mbaru has been voted in as the new chair of the Kenya Association of Stockbrokers and Investment Banks. FILE PHOTO |

What you need to know:

  • He replaces Mr John Kirimi, who led the lobby group through demutualisation and initial public offering of the NSE.
  • Mr Kirimi, together with Mr Dennis Waweru, a director at Faida Investment Bank, Mr Paul Mwai, chief executive of AIB Capital, and Mr Donald Wangunyu, a director of Standard Investment Bank, were elected directors.

Nairobi businessman Jimnah Mbaru has been elected to chair the stockbrokers’ and investment bank association.

Mr Mbaru, who is the chairman of Dyer and Blair Investment Bank, was voted in as the new chair of the Kenya Association of Stockbrokers and Investment Banks (KASIB) during their annual general meeting held last Friday in Nairobi.

He said he would work “towards deepening and expanding the bond market, particularly treasury bonds, infrastructure bonds and corporate bonds segments in Kenya and East Africa”.

LISTING OF SOVREIGN BOND

This would also include pushing for listing of the Kenyan sovereign bond on the NSE and attracting other countries in the region to issue foreign currency denominated bonds at the Exchange.

He would also push for the establishment of a derivatives market and a commodities exchange, a plan that has been in the pipeline. Other duties include pushing for increased cross border listing of securities.

He replaces Mr John Kirimi, who led the lobby group through demutualisation and initial public offering of the Nairobi Securities Exchange (NSE).

Mr Kirimi, together with Mr Dennis Waweru, a director at Faida Investment Bank, Mr Paul Mwai, chief executive of AIB Capital, and Mr Donald Wangunyu, a director of Standard Investment Bank, were elected directors.

Mr Amish Gupta, a director at SIB, will serve as vice-chair, with Mr Lucas Otieno, a director at FIB, as the secretary and Ms Catherine Karita, CEO of NIC Securities, as KASIB’s treasurer.