Criticism
- Ntalami, a former stockbroker, and Jimnah Mbaru (current NSE Chairman and stockbroker), have been criticised in the past of being inappropriate to self-regulate the capital markets because their affiliations to capital markets could create potential conflicts of interest. The NSE (and its top management) have in the past come under fire for being an 'exclusive club' tightly controlled by an eighteen (18) member team of existing market brokers and investment banks. In fact, in a recent attempt to debunk this perception, it was reported on August 3, 2007 that the NSE would put up for sale a seat on its executive board at an estimated reserve price of Ksh 300 million (U.S.$4.5million). The coveted seat was clinched on August 21, 2007 by Renaissance Capital.
- Corporate bonds: There have been few corporate bonds approved since the beginning of 2006. The domestic bond market is widely viewed as under-developed, an observation made by Ntalami. A report released in April 2007 by the International Monetary Fund ranked Kenya's secondary bond market as being among the best in Africa, coming third only to South Africa and Mauritius. The outstanding value of corporate bonds as at the end of October 2006 rose to Kes. 8.6 billion ($123 million) following the issue of the second tranche of Shelter Afrique in October.
- Media shy: Unlike his contemporaries such as NSE chairman Jimnah Mbaru, Suntra Investment Bank's James Murigu and Standard Investment Bank's James Wangunyu, who do not mind the public limelight, Ntalami has by far and large curved out a quiet demeanor. There have been calls for the Chief Executive to be more visible and for the CMA to create a better communications/PR mechanism. Reacting to this, the CMA recently made efforts to bolster its human resource capacity. On 10 July 2007, it moved to recruit new personnel for various departments in financial, public relations, legal, research, IT and compliance. The recruitment is to be done through a human resources placement firm Osano and & Associates.
Read more about this topic: Edward H. Ntalami
Famous quotes containing the word criticism:
“Like speaks to like only; labor to labor, philosophy to philosophy, criticism to criticism, poetry to poetry. Literature speaks how much still to the past, how little to the future, how much to the East, how little to the West.”
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“Of all the cants which are canted in this canting world—though the cant of hypocrites may be the worst—the cant of criticism is the most tormenting!”
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