The Nairobi Securities Exchange has clarified that prominent businessman Kiprono Kittony has not stepped down as chairman of the Nairobi Securities Exchange (NSE).
In a statement on March 11, NSE clarified that Kittony had not left the position contrary to earlier reports.
According to the statement, Kittony’s term as Chairman runs until July 2026, while his Board Director role continues until June 2027.
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“The Nairobi Securities Exchange PLC (NSE) wishes to clarify that recent media reports about the departure of Board Chairman Mr. Kiprono Kittony, EBS are categorically inaccurate. Mr. Kittony remains Chairman and is actively leading the Exchange in advancing its 2025-2029 Strategy,” read part of the statement.
“Mr. Kittony’s term as Chairman runs until July 2026, and his Board Director role continues until June 2027. As a market regulator and a public listed company, NSE follows transparent and established governance procedures for all leadership transitions, in line with its Articles of Association, Capital Markets Authority (CMA) regulations, and statutory requirements. We remain committed to maintaining strong corporate governance and to keeping stakeholders informed through official NSE channels. For accurate updates, please refer only to our official communications.”
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Reports about Kitttony’s exit from the Nairobi Securities Exchange came days after he was appointed as the new chairman of the Kenya Airways board.
In his new role, Kittony and his board, comprising leaders including economist David Ndii, will be charged with steering the struggling national airline at a time when the government is seeking strategic investors to inject fresh capital.
The government is looking for a new investor to help turn the airline around as part of a wider plan that also includes turning some of its debt into shares and making leadership changes.
With his extensive experience in finance and capital markets, Kittony is expected to play an important role in guiding the airline back to stability.
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Nairobi Securities Exchange (NSE)
The Nairobi Securities Exchange is Kenya’s main stock market and one of the engines that drives the country’s economy. It provides a safe, regulated place where people and companies can buy and sell shares, bonds, and other financial products, allowing both local and international investors to participate in one of the fastest-growing economies in Sub-Saharan Africa.
As of early 2026, the NSE is valued at more than KSh 3.37 trillion.
Over the years, the exchange has modernized its operations, especially after it became a publicly listed company in 2014. It has focused on creating new investment products, such as green bonds and single-share trading, and on making the market easier for more Kenyans to join. Under recent leadership, including Kittony’s just-ended tenure, the NSE ended an 11-year freeze on IPOs, with the listing of the Kenya Pipeline Company as a major milestone.
The efforts have helped open the capital markets to more people and strengthened the NSE’s role as a key platform for investment, saving, and raising capital for businesses, with ongoing plans to increase the number of active investors to the millions.
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