The Nairobi Securities Exchange (NSE) has announced the appointment of veteran financial services executive Tom Mulwa as the next Chairman of its Board of Directors, marking a planned leadership transition at one of Kenya’s key financial market institutions.

In a statement issued on Thursday, July 2, the NSE said Mulwa will assume the role on July 13, succeeding Kiprono Kittony, whose six-year tenure as Chairman and Independent Non-Executive Director comes to an end on July 12 in line with the exchange’s governance framework.

The transition follows board succession planning by the exchange and is expected to ensure continuity in leadership as the NSE pursues its long-term strategy of strengthening Kenya’s capital markets and expanding investor participation.

Mulwa is a seasoned financial services executive with extensive experience in banking, corporate governance and capital markets. He has served on the NSE Board as an Independent Non-Executive Director, giving him direct oversight of the exchange’s governance and strategic direction before his elevation to chairman.

The NSE said his appointment reflects the board’s confidence in his leadership experience and understanding of the financial sector at a time when the exchange continues to focus on market development, innovation and investor confidence.

Mulwa takes over from Kittony, who has chaired the board since July 2020. During his six-year tenure, the NSE oversaw several initiatives aimed at modernising the country’s securities market, including increased adoption of digital trading platforms, efforts to attract new listings, broader retail investor participation and reforms intended to improve market efficiency and transparency.

The outgoing chairman also presided over the exchange during a period marked by changing economic conditions, evolving investor preferences and renewed efforts to position Nairobi as a regional financial hub.

In its statement, the NSE expressed appreciation for Kittony’s leadership and contribution to the organisation over the past six years, noting that his tenure helped guide the exchange through a period of significant transformation in Kenya’s capital markets.

The bourse also said it expects Mulwa to build on that foundation by supporting the implementation of strategic priorities aimed at deepening the capital markets, improving liquidity and strengthening corporate governance across listed companies.

The leadership transition comes as the NSE continues working with market regulators, listed firms and other stakeholders to enhance the competitiveness of Kenya’s securities market. The exchange has increasingly focused on broadening investment opportunities, encouraging more companies to list on the bourse and improving access to capital for businesses through the public markets.

As chairman, Mulwa will lead the board in providing strategic oversight and governance while working closely with the exchange’s management to advance its long-term objectives. The appointment takes effect on July 13, immediately after Kittony concludes his final day in office on July 12, bringing to a close six years at the helm of the Nairobi Securities Exchange’s board.