This archive report was first published on 10 October 2019.
On October 10, 2019, the Capital Markets Authority (CMA) announced its support for a two-day training on new corporate governance rules. The training aimed to help firms meet regulatory board and transparency rules.
The training, which took place from Tuesday, was anchored on stringent corporate governance rules that demand disclosure of directors' pay, term limits, adoption of a code of ethics, and review of board composition.
International Finance Corporation (IFC) and Scribes Services, a corporate governance consultancy, were behind the training. The course targeted board chairpersons, directors, senior executives, and company secretaries.
According to the CMA, the authority supports Scribes Services in the implementation of the code of corporate governance.
The training came after nearly half of the companies listed on the Nairobi Securities Exchange last year failed to meet regulatory corporate governance tests, exposing the risk of capital loss that investors face.
Benard Kiragu, partner at Scribes Services, emphasized the importance of corporate disclosure and transparency in safeguarding investments. He noted that the training enlightens directors on how to better serve corporates.
