IMPLEMENTATION STRUCTURE AND MANAGEMENT

The structure for the implementation and monitoring of the Capital Market Master Plan as well as the various parties that are involved in this process are depicted below.

Steering Committee

The steering committee is an interaction among senior officials such as the Cabinet Secretary, National Treasury; the Governor of the Central Bank of Kenya; The Attorney General; the CMA Chief Executive, ; other financial sector regulators (such as the RBA, IRA and SASRA) which can be represented by the Financial Services Council, as well as the NIFC Steering Committee, the Chair of the Vision 2030 Secretariat, and any other Ministries that are affected by the implementation of the Master Plan. The Committee coordinates the development of Kenyan financial services sector through the implementation of the Capital masterplan by facilitating cooperation and implementation strategies among all relevant agencies and synchronises the communication of issues and developments in areas involving more than one jurisdictional authority.

Implementation Committee

The Implementation Committee chaired by the Chief Executive CMA, draws its members from the Capital Market Master Plan Steering Committee, as well as the expertise of industry participants and stakeholders, financial sector regulators, professional advisors, academia, specialist resources and Working Groups as necessary. The key responsibilities include functioning as the secretariat and coordinator of the implementation of actions as well as monitoring and evaluation of performance based on specific targets of the capital markets masterplan.

Working Groups

The four working groups comprise of representatives from relevant industry associations, market infrastructures, departments within the various financial sector regulators and a host of other market participants to address individual issues. The working groups are responsible for liaising and consulting with the various Government and regulatory bodies, industry associations and participants, professional bodies, and other affected stakeholders in the implementation of their specific actions.

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