Rose Mambo has held the post for the past 12 years after she replaced founding CEO Peter Waiyaki, who before his resignation in July 2007 had served CDSC for four and a half years.
During her tenure, the CDSC presided over the largest initial public offer (IPO) in East and Central Africa — the Safaricom IPO of 2008.
The CDSC also successfully facilitated the listing of the KenGen bond — the first automated bond in the region in 2008.
The Central Depository and Settlement Corporation (CDSC) board has begun the search for a new head following the retirement of the first female chief executive Rose Mambo.
Ms Mambo has held the post for the past 12 years after she replaced founding CEO Peter Waiyaki, who before his resignation in July 2007 had served CDSC for four and a half years.
“For now I'm taking a break, before I decide what next,” said Ms Mambo when reached for comment by the Business Daily.
Meanwhile CDSC company secretary and head of legal Hilda Njeru has been appointed as the acting CEO until the recruitment is complete, according to a circular announcing the changes.
Ms Mambo joined the shares agency in August 2007 from the Nairobi Securities Exchange (NSE) where she formerly served as the head of compliance and company secretary.
During her tenure, the CDSC presided over the largest initial public offer (IPO) in East and Central Africa — the Safaricom IPO of 2008.
The CDSC also successfully facilitated the listing of the KenGen bond — the first automated bond in the region in 2008.
In 2015, the market realised settlement of funds through the Central Bank using the Real Time Gross Settlement System (RTGS) eliminating counterparty risk.
During her tenure CDSC Active accounts grew exponentially from 520,920 in 2007 to 1.55 million in 2019 with a spike in 2008 attributable to Safaricom IPO and in 2014, after a successful dematerialisation where physical securities such as the share certificates and other documents were converted into electronic form.
The CDSC reviewed the accounts at the end of March as it moved to implement the Dormant Account (Rules) Guidelines that were approved by the Capital Markets Authority in April 2018.
In 2017, CDSC was appointed as the issuing and paying agent of the Government retail mobile traded bond dubbed M-Akiba.
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