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KIPRONO KITTONY, EBS
CHAIR NAIROBI SECURITIES EXCHANGE PLC
Kiprono Kittony currently holds the position of Chair of the Board of the Nairobi Securities Exchange (NSE), the principal stock exchange in Kenya, operating under the regulatory oversight of the Capital Markets Authority (CMA). He took on the role in July 2020.
Kiprono, affectionately known as ‘Kip’, has directed particular attention towards spearheading the revival of the privatisation program in Kenya, with the aim of facilitating the divestment of several state-owned enterprises (SOEs). Kip is steadfast in his confidence that the implementation of a meticulously planned and time-bound privatisation program will not only bolster Kenya’s investment climate but will also empower the government to generate substantial resources. These resources are earmarked to support critical national initiatives, such as funding the National Budget, as well as advancing priority agendas like affordable housing and agricultural development.
Under Kip’s chairmanship, the reintroduction of the privatisation program is viewed as a key driver for economic growth and sustainability. The divestment of SOEs is expected to attract private sector participation, injecting fresh capital and expertise into these entities. This, in turn, is anticipated to improve their efficiency, competitiveness, and overall contribution to the economy.
During Kip’s influential tenure, the NSE introduced a groundbreaking initiative with the release of its Environmental, Social, and Governance (ESG) Disclosures Guidance Manual. The introduction of these guidelines represents a meticulous and strategic approach to ESG reporting, aligning with international standards. These guidelines offer comprehensive insights into how listed companies can seamlessly integrate ESG considerations into their organisational frameworks.
Kip actively collaborates with diverse companies, extending his advocacy to championing the widespread adoption of the ESG Disclosure Guidance Manual. Moreover, he encourages the utilisation of green financing instruments, such as green bonds, to fund essential infrastructure projects across Kenya, underscoring the importance of aligning financial initiatives with environmental and social responsibility.
In addition to these efforts, Kip is at the forefront of proposing the establishment of a carbon trading exchange in Kenya, contributing to the broader global efforts to combat climate change.
Under Kip’s guidance, a significant event occurred in October 2022 with the introduction of the NSE Market Place. This initiative, strategically designed to boost market activity and promote stock market growth, serves as a dynamic platform for Kenya to highlight lucrative investment opportunities globally. The goal is to position the country as a prominent trade and investment hub, attracting Foreign Direct Investment (FDI) across various sectors.
Within the real estate sector, the NSE has played a pivotal role in promoting the Real Estate Investment Trusts (REITs) market. Over the last three years, the NSE successfully listed the Acorn Development and Income REITs, signalling a strategic move towards advancing the real estate landscape in Kenya. It is worth noting that these REITs focus on funding the development of student accommodation, addressing a crucial need in the market. The success of these initiatives is evident in the substantial achievements of the REITs, which have raised an impressive total amount exceeding KES 5 billion to date.
Kip’s leadership at the NSE has ushered in a new era of innovation and growth, positioning the exchange as a catalyst for economic development, both within Kenya and on the global stage. The strategic initiatives undertaken during his tenure underscore a commitment to excellence, fostering a conducive environment for investment and sustainable economic progress.
Beyond his noteworthy contributions to the Exchange, Kip holds key leadership positions. He is the Founding Chair of the Radio Africa Group, Chair of My Jobs in Kenya, Chair of Mtech Communications, and Chair of CreditInfo Credit Reference Bureau (CRB) Kenya. He previously chaired the boards of AAR Insurance, Kenya National Chamber of Commerce and Industry (KNCCI) and the Media Owners Association (MOA), leaving an enduring legacy of transformative impacts on these institutions.
On the global stage, Kip serves as the Vice Chair of the World Chambers Federation (WCF) in Paris, France. In this role, he represents Africa, actively participating in collaborative efforts among international chambers worldwide.
In the realm of health and social impact, Kip is a Director and Member of the advisory council of the International Fund for Health in Africa (IFHA).
Education-wise, Kip is equipped with two degrees from the University of Nairobi (UoN): a Bachelor of Commerce (BCom) and a Bachelor of Laws (LLB). His pursuit of continuous learning is evident through the acquisition of a Global Executive Master of Business Administration (GeMBA) degree from the United States International University Africa (USIU-Africa), in conjunction with Columbia University.
His outstanding contributions to business leadership have not gone unnoticed, as on Jamhuri Day 2019, Kip was honoured with the award of the Elder of the Order of the Burning Spear (EBS) by President Uhuru Muigai Kenyatta.
Outside the realms of business and leadership, Kip finds joy in spending quality time with his family, both in Nairobi and at his farm in Kitale. Moreover, he actively engages in mentoring the youth and consistently participates in philanthropic projects, showcasing a well-rounded commitment to community development and nurturing the next generation of leaders.
