Editorial: CMA must move quickly to restore confidence

To be fair, the current CMA chief executive Stella Kilonzo’s claims that most of the problems manifesting now were inherited from previous leadership are true to a large extent.

Yet this is the cross that CMA has to carry as long as the failures keep piling, and this is why this newspaper calls them an institutional failure.

But the current problem also presents an opportunity to redeem the regulator’s image.

If he is to be believed, Ngenye Kariuki has publicly claimed that his bank is ready to restructure its claims on the firm, and return its balance sheet to a position of positive shareholders’ capital.

If this is indeed true, and if as Mr Kariuki claims all investors’ holdings with the firm are intact, then CMA must embrace the chance to make this the first case of successfully lifting a stockbroker from total collapse.