NSE Announces Leadership Changes Amid Govt Privatisation Plans

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🇰🇪 Breaking It Down

In a public notice issued on Thursday, July 2, the NSE said Kittony will retire as Chairman and Independent Non-Executive Director effective July 12, this year, bringing to an end an eight-year stint on the board and six years at the helm of Kenya's securities exchange.

The board simultaneously announced the appointment of Tom Mulwa as the new Board Chairman, effective July 13, this year, following approval by directors on June 30.

"The Board warmly welcomes Mr Mulwa and looks forward to his leadership as the Exchange advances its 2025-2029 strategy to deepen the market, broaden retail participation and strengthen Kenya's position as a leading African capital market," the NSE said in the statement.

📌 What You Need to Know

Kittony, who joined the NSE Board in May 2018 before becoming chairman in July 2020, exits after overseeing one of the Exchange's most transformative periods.

During his tenure, the NSE ended an 11-year initial public offering (IPO) drought through the landmark listing of Kenya Pipeline Company (KPC) and the listing of a local bank.

The board also credited him with championing single-share trading, overseeing the launch of a key fintech investment platform to boost retail investor participation and steering implementation of the Exchange's 2025-2029 strategic plan.

According to the NSE, the Exchange was ranked Africa's best-performing stock exchange in 2024 and the continent's second-best-performing exchange in 2025 based on dollar returns during Kittony's leadership.

His successor, Mulwa, joined the NSE Board in September 2025 as an Independent Non-Executive Director and brings more than three decades of experience in financial services.

Mulwa also chairs the Kenya National REITs and serves as a council member of the Association of Pension Trustees and Administrators of Kenya (APTAK).

📰 Source: Kenyans.co.ke

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