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As part of its objective to nurture talent in Africa, the Capital Markets Authority (CMA) has partnered with The Tony Elumelu Foundation in Nigeria under their African Markets Internship Programme (AMIP) to facilitate the placement of MBA students (Associates) from Business Schools around the world in an internship programme. The programme commences in May 2012.
The CMA Chief Executive, Mrs Stella Kilonzo, while making the announcement, observed that the Authority was looking forward to participating in AMIP by giving students hands-on experience and exposure. Each student will be involved in the programme for ten weeks.
Mrs Kilonzo explained, “The internship programme is designed to give the students an opportunity to gain invaluable insights and contribute to projects to assist in the growth of the Authority’’.
The Tony Elumelu Foundation’s CEO, Dr. Weibe Boer, called the partnership with CMA a needed step in the right direction for the continent. “At the Foundation, we work to ensure that entrepreneurs and indigenous businesses have what they need to thrive. We are looking at practical ways we can merge business leadership training, private sector development and public service. Working with CMA through AMIP allows us to touch on all of these goals.”
AMIP is expected to increase international interaction between Business Schools by enlarging the pool of high-quality internships in business leadership and policy development available in Africa to qualified national and international students.
The CMA Chief Executive said the internship programme opens up opportunities for African enterprises to recruit international and African Business Schools’ talent.
Mrs. Kilonzo said, ‘’The Authority is proud to be associated with this unique opportunity to be part of a continental initiative to create a large, diverse network of talented prospective employees with a hands-on perspective of the job market’’.
The Tony Elumelu Foundation is an Africa-based and funded not-for-profit institution, dedicated to the promotion and celebration of excellence in business leadership and entrepreneurship across Africa. As a 21st century catalytic philanthropy, the Foundation is committed to driving the continent’s economic growth from within by proving that the African private sector can itself be the primary generator of economic development.
The Kenyan Capital Markets Authority (CMA) was set up in 1989 as a statutory agency under the Capital Markets Act Cap 485A. It is charged with the prime responsibility of both regulating and developing an orderly, fair and efficient capital markets in Kenya with the view to promoting market integrity and investor confidence.
The regulatory functions of the Authority as provided by the Act and the regulations include; Licensing and supervising all the capital market intermediaries; Ensuring compliance with the legal and regulatory framework by all market participants; Regulating public offers of securities, such as equities and bonds & the issuance of other capital market products such as collective investment schemes; Promoting market development through research on new products and services; Reviewing the legal framework to respond to market dynamics; Promoting investor education and public awareness; and Protecting investors’ interest.