NSE Appoints Frank Mwiti As CEO

The Nairobi Securities Exchange (NSE) has appointed Frank Mwiti as the new CEO following the exit of Geoffrey Odundo whose nine-year tenure at the bourse has come to an end.

In the shareholder notice issued on Tuesday, NSE announced that Mwiti will assume office on May 2, subject to regulatory approvals.

“Following the competition of Odundo’s tenure, the board of NSE is pleased to announce the appointment of Frank Mwiti as the new CEO effective May 2, subject to regulatory approvals by the Capital Markets Authority (CMA). The appointment follows a comprehensive and rigorous recruitment process” the Board’s notice reads.

Mwiti takes over at a time when the NSE is dealing with low liquidity levels, challenges attracting SMEs and market’s struggles including a lack of investor confidence, global economic uncertainties, and the prevailing economic challenges facing Kenya.

The new CEO is expected to address the underlying issues affecting NSE performance to attract both local and foreign investors.