7.3: Build capacity of capital market regulators
The Authority's board members have been appointed in line with the emerging best practice and have signed and been independently trained on the Mwongozo code (The Code for Corporate Governance for State Corporations).Although appointments are in line with Mwongozo Code of Conduct there remains a challenge in having appointments in line with identified skills needs. The Board evaluations for the financial year 2016/2017 was conducted from 22nd-25th May 2017 and was facilitated by State Corporation Advisory Committee (SCAC). The Board was evaluated on its self-evaluation of the Board, Chairman, Chief Executive and individual Board members of the Authority. The Board also set the strategic direction of the Authority by evaluating and enacting various guideline policies and guiding management in the execution of the Authority's Strategic plan and performance contract for the period under evaluation. The results of the Board evaluation were forwarded to the PS. National Treasury and Secretary of SCAC.
The Authority has continued to enhance its resource capacity through the ongoing Uwezo Kipeo Project (change management project).The project is a human resources-driven culture change project with the primary focus of providing an effective ecosystem within which sustainable CMA culture change could be supported and effected. The Authority has developed world-class organizational change and development products including a new suite of organizational Policies and Procedures, a re-designed approach and tools for evaluating employee performance, a set of business and technical capabilities, a more strategically-aligned philosophy, and tools, for driving learning and development and a more quality-driven recruitment and selection process.
The Authority continues to plan and budget in accordance to the requirement of the Public Financial Management Act (PFMA) and also seeks technical and financial support from development partners to supplement revenue.
The Authority has put in place a Communications Strategy which incorporates communication in crisis management.The following opinions have been written by the Authority Staff and published in the Business Daily Newspaper:
The Authority has also launched and published 4 Capital Markets Soundness Quarterly Reports in December 2016, May 2017, August 2017 and October 2017.
The Authority engages external expertise whenever appropiate.