Investment banks, CMA pledge Ksh.30million for Covid-19 fund

Capital markets players flanked by their regulator have donated Ksh.30 million to the Covid-19 emergency response fund.

The Capital Markets Authority (CMA) Board and staff have committed to the voluntary contribution of Ksh.781,706 having so far remitted Ksh.268,300.

The pair of the Nairobi Securities Exchange (NSE) and the Central Depository and Settlement Corporation have donated Ksh.2 million and Ksh.1 million while ICE Lion, SBG Securities, CIC and Old Mutual Investment Group pledged Ksh.1 million each.

Other contributors to the Ksh.30 million grant include EGM Securities, Sanlam Investments, Sterling Capital, Apex Africa and Madison Investment Managers.

The contribution to Kenya’s Covid-19 fund comes on the backdrop of measures to enable continuity of markets amidst disruptions caused by the pandemic.

Key outcomes from the industry stakeholders have included flexibility on the use of websites and social media channels to declare financial results and virtual annual general meetings (AGMs).

Further, listed companies have been allowed to approve and pay-out dividends and appoint auditors prior to holding AGMs.