Frank Mwiti, a dynamic and accomplished business leader with a wealth of international experience, is set to take the reins as the new Chief Executive Officer of the Nairobi Securities Exchange PLC (NSE).

This announcement marks a pivotal moment as the NSE's Board of Directors ushers in a new era of leadership following the retirement of Geoffrey Odundo, the current Chief Executive, effective 1st March 2024.

Mwiti's appointment comes as the culmination of an extensive and rigorous recruitment process, endorsed by the Capital Markets Authority.

With over two decades of experience spanning strategy, governance, risk management, and corporate finance, Mwiti brings a robust skill set honed across various global financial hubs.

Having previously served as a Partner and Eastern Africa Markets Leader for Ernst & Young (EY), Mwiti's leadership acumen has been demonstrated through his strategic oversight of EY's operations across Kenya, Ethiopia, Uganda, and South Sudan.

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His tenure at esteemed firms such as PricewaterhouseCoopers (PwC) and UBS further underscores his deep-rooted expertise in driving business development and performance enhancements.

Under Mwiti's guidance, the NSE anticipates a seamless transition into its next phase of growth and innovation.

The Board expresses confidence in Mwiti's strategic capabilities to propel the Exchange forward and align with the government's capital markets agenda.

To facilitate a smooth handover, David Wainaina, the current Chief Operating Officer of the NSE, will assume the role of Acting Chief Executive from 2nd March 2024 until Mwiti officially assumes office on 2nd May 2024.

Wainaina's extensive experience in capital markets, coupled with his instrumental role in implementing key projects, ensures continuity and stability during this transition period.

Chairman Kiprono Kittony reaffirmed the Board's commitment to maintaining the NSE as a vibrant and innovative platform for capital raising.

He underscored the Board's dedication to collaborating with stakeholders to deepen Kenya's capital market and contribute to the country's economic growth agenda.

As Mwiti prepares to lead the NSE into its next chapter, shareholders, stakeholders, and the wider public await with anticipation the transformative initiatives and strategic direction he will bring to the Exchange.