We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
CRISA and Beyond
from Part II - Jurisdictions
Published online by Cambridge University Press: 28 April 2022
In 2017 the Kenya Capital Markets Authority (CMA) issued a stewardship code for institutional investors. The code was informed by the need to respond to the changing business environment coupled with the desire to align Kenyan local standards to global best practice focused on promoting institutional strengthening for listed companies. The United Kingdom (UK) Stewardship Code 2010 heavily influences the code. This chapter seeks to analyse the theoretical and contextual issues relating to the stewardship of code in Kenya through functional and practical lenses and what it portends in the governance of publicly listed companies. The study finds that two years after promulgation of the code, none of the licensed fund managers or other institutional investors or asset owners have signed the Code. Not much of institutional investor engagement in management of companies has been reported. The results of the study seem to suggest that amongst the reasons for lack of uptake of the code are that it was issued without any stakeholder participation and sensitisation. As a mechanism for enhancing the awareness on the code, the CMA is planning to launch the code officially within this financial year.
To save this book to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.
