Paul Muthaura, the Chief Executive Officer of the American Chamber of Commerce Kenya (AmCham Kenya), is a lawyer, business executive, and financial-sector leader known for his experience in capital markets regulation and sustainable finance.
Paul became the CEO of AmCham Kenya on June 17, 2026, and will lead efforts to strengthen trade and investment ties between Kenya and the United States.
In reaction to his appointment, Paul said, “Such an honour to take on this mantle at this moment in time! Looking forward to the work and engagements ahead.”
Early life and family background
Paul Muthaura Murithi was born in Kenya to Francis Muthaura, who served as Head of the Public Service and Secretary to the Cabinet from 2007 to 2013, and Rose Muthaura.
He grew up with two sisters, Suzanne and Dr. Patricia Muthaura.
Educational background
Paul Muthaura’s academic journey is founded mainly in law and finance. He holds several academic credentials to his name, including:
- LLB, Law: University of Warwick (1996–1999).
- LLM, Banking and Finance Law: The London School of Economics and Political Science (LSE) (1999–2000).
- Executive Diploma, Financial Management: KCA University (2006–2007).
- Diploma in Legislative Drafting: School of Advanced Study, University of London: Paul Muthaura studied (2007).
- Master of Philosophy: Maastricht School of Management (2011–2013).
Paul Muthaura’s Professional career
Early legal practice and corporate work
Paul Muthaura began his legal career in Nairobi and later worked as Senior Corporate Associate at CMS Daly Inamdar Advocates (Apr 2001–Sep 2005), where he handled corporate security and financing documentation, mergers and acquisitions, project finance, capital markets transactions, and related advisory work.
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Capital Markets Authority (CMA), Kenya
He later joined the Capital Markets Authority (CMA) of Kenya and served in various senior roles across 14 years (2005–2019), including:
- Senior Legal Officer, Regulatory Framework (Sep 2005–Dec 2007).
- Head of Enforcement (Jan 2008–Jan 2010), during which he established a dedicated enforcement function to strengthen market oversight.
- Head of Legal Framework (Feb 2010–Oct 2011).
- Director, Regulatory Policy and Strategy (Nov 2011–Jun 2012).
- Chief Executive Officer of CMA (Jul 2012–Dec 2019).
As CMA’s Chief Executive, Paul Muthaura led major policy and institutional reforms, including:
- Developing the 2014–2023 Ten-Year Master Plan for capital markets development (adopted as a Vision 2030 flagship project)
- Strengthening supervision and enforcement
- Introducing international certification programs in Kenya
- Oversaw systems upgrades that won operational awards
Regional and international roles
Paul’s CMA work extended to regional and global regulatory platforms.
He also held leadership positions at the International Organization of Securities Commissions (IOSCO):
- Chairman, Africa Middle East Regional Committee (AMERC)
May 2018 – Dec 2019 (1 year 8 months) - Board Member, IOSCO
Sep 2014 – Dec 2019 (5 years 4 months) - Vice Chairman, Growth and Emerging Markets Committee (GEM)
Sep 2017 – May 2018 (9 months) - Co-Chair, Board Infrastructure Working Group
May 2016 – May 2018 (2 years 1 month) - Vice Chairman, Africa Middle East Regional Committee (AMERC)
May 2016 – Sep 2017 (1 year 5 months)
Other governance and board roles
Paul Muthaura has served on various boards and advisory agencies across finance, insurance and regulation:
- Board member, Retirement Benefits Authority (Kenya) and Vision 2030 Delivery Board (2012–2019).
- Board member, IRA Kenya (Insurance Regulatory Authority).
- Board roles at ICEA Lion Group, including CEO of ICEA LION General Insurance (Oct 2020–Sep 2021) and COO shortly before that.
- Member, Securities Advisory Board at Toronto Centre (2015–2025).
- Independent Board Member at BAT (Oct 2023–present).
- Independent member of FSD Kenya’s PIC (Nov 2022–present).
- Member, Board of Trustees at the International Valuation Standards Council (IVSC) (Jan 2026–present).
- Independent Board Member at the International Ethics Standards Board for Accountants (IESBA) (Jan 2023–Dec 2025).
Consulting, climate finance and recent leadership
After CMA, Paul worked as an advisor and consultant at EMRD (Emerging Markets Regulation and Development) Advisory Limited (Jan 2022–Jun 2026), providing regulatory and market development projects for clients including IOSCO, the World Bank/IFC, and other international organizations.
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From July 2023 to Dec 2025, Paul Muthaura served as Chief Executive Officer of the Africa Carbon Markets Initiative (ACMI), scaling high-integrity carbon markets in Africa and coordinating key engagements at the Africa Climate Summit, the UN, and global climate forums.
Muthaura took over the role of Chief Executive Officer at the American Chamber of Commerce Kenya (AmCham Kenya) on June 17, 2026, focusing on policy, investment promotion, and U.S.–East Africa commercial partnerships.
Licenses & Certifications
- Operationalizing Article 6.2, Paris Agreement
Issued by United Nations Development Programme (UNDP) / UNFCCC in April 2023
Credential: Certificate of Completion - Systemic Team Coaching Certificate
Issued by the Academy of Executive Coaching (AoEC) in November 2023 - Honorary Fellow (FCS)
Issued by The Institute of Certified Secretaries in August 2017
This was a recognition of excellence in corporate governance and secretarial practice - Advocate of the High Court of Kenya
Issued by Law Society of Kenya in October 2003
This is the legal license to practice law in Kenya - Certified Executive Coach
Issued by AoEC – The Academy of Executive Coaching in October 2015
Awards and honors
- Most Innovative Capital Markets Regulator in Africa, 2019
Issued by International Finance Magazine (Oct 2019), associated with Capital Markets Authority. - Outstanding Contribution to Capital Markets Stability in Africa
Issued by CFI.co (Oct 2018), associated with Capital Markets Authority – Kenya. - Most Innovative Capital Markets Regulator in Africa, 2018
Issued by International Finance Magazine (Sep 2018), associated with Capital Markets Authority. - Order of the Moran of the Burning Spear (MBS)
Issued by His Excellency Uhuru Kenyatta, former President of Kenya (Dec 2017), associated with Capital Markets Authority.
National Honour for services to the development and deepening of capital markets and corporate governance in Kenya. - Most Innovative Capital Markets Regulator in Africa, 2017
Issued by Africa Investor (Sep 2017), associated with Capital Markets Authority. - Most Innovative Capital Markets Regulator in Africa, 2016
Issued by International Finance Magazine (Dec 2016), associated with Capital Markets Authority. - Top 40 under 40, 2016
Issued by Business Daily (Dec 2016), associated with Capital Markets Authority. - Deloitte Best Company to Work For in Kenya 2016, 3rd Position, Medium-Size Category
Issued by Deloitte & Touche (Nov 2016), associated with Capital Markets Authority.
Award includes the Standard of Excellence Seal. - Most Innovative Capital Markets Regulator in Africa, 2015
Issued by Africa Investor (Oct 2015), associated with Capital Markets Authority. - Securities Advisory Board Member
Issued by Toronto Centre (Mar 2015), associated with Capital Markets Authority.
Recognized for supporting strategy and planning for securities regulator training programs structured by Toronto Centre. - Leadership for Change in Africa
Issued by Africa Leadership Institute (Nov 2011), associated with Capital Markets Authority.
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