Capital Markets

Stockbrokers propose Mbaru for NSE board

JIMNA

Dyer & Blair Investment Bank executive chairman Jimnah Mbaru. PHOTO | DIANA NGILA

Stockbrokers have nominated Jimnah Mbaru to represent them on the Nairobi Securities Exchange (NSE) board.

Industry lobby Kenya Association of Stockbrokers and Investment Banks (Kasib) has proposed the veteran broker to fill the non-executive position previously held by Geoffrey Odundo, now NSE chief executive.

“The board had a meeting and unanimously agreed that Jimnah (Mbaru) replaces Geoffrey Odundo. We wanted someone with a deep knowledge and exposure,” Kasib chief executive Willie Njoroge told the Business Daily.

Mr Mbaru doubles as the Kasib chairperson and is expected to join Faida Investment Bank chairman Bob Karina in representing the brokerage fraternity.

Mr Mbaru, also the executive chairman of Dyer & Blair Investment Bank, was appointed Kasib chairperson in August last year. At the time the lobby group said its focus would be on getting more bonds listed on the NSE.