Popular Kenyan billionaire Jimnah Mbaru on Wednesday announced his exit from the Nairobi Securities Exchange.
The businessman took to his social media to inform the public of his retirement, bringing an end to an illustrious career in the financial sector.
"Today is my last day as a director of Nairobi Stock exchange as I am retiring and not offering myself for reelection.
"I wish all the remaining and incoming directors all the best. Thank you," he stated.
[caption caption="Jimnah Mbaru"]
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During his career, Mr Mbaru led most landmark transactions in the Capital Markets including Safaricom IPO, Kenya Power (KPLC) Capital Base Restructuring, the private equity investment by Helios into Equity Bank, I&M Bank Bond, Britam Bond and the Kenya Eurobond.
Previously, as Chairman of African Stock Exchanges Association, the businessman played a key role in developing the capital markets in Africa and was central to the formation of the Uganda, Dar-es-salaam, Rwanda and Botswana Stock Exchanges.
He has served as Chairman of the Nairobi Securities Exchange (NSE) for over 10 years, National Cereals and Produce Board (NCPB) and was a member of the National Economic and Social Council (NESC) which was the think tank for the Government of Kenya credited with coming up with Vision 2030.
He is currently a member of the Investment Committee for the International Finance Corporation (IFC) the Africa Capitalization Fund (ACF) that focuses on funding financial institutions in Africa.
Mbaru unsuccessfully vied for Nairobi governorship in 2013 and there was word that Mike Sonko intended to pick him as his deputy though this never materialised.
He has a Bachelors of Commerce from University of Nairobi, a Masters of Business Administration from IMD and a Bachelors of Law (LLB) from University of Nairobi.
[caption caption="Jimnah Mbaru Campaigning in 2013"]
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