The Central Depository and Settlement Corporation (CDSC), has appointed new members on the Board of Directors with Mrs. Aida Kimemia-Nesbitt as the new Board Chairperson of the company, effective April 1st, 2021.
Mrs. Kimemia is Managing Director at Tiserin Capital, a financial advisory and investment firm supporting small and medium-sized enterprises in East Africa. She has previously been Regional Manager at International Finance Corporation(IFC) for Marketing and Consumer Services in Africa. She has broad experience in investment banking, corporate finance, general management and corporate governance.
She is also Non-Executive Chair on the board of Metropolitan Cannon General Insurance Limited and non-Executive Director on the board of Echo Scan, a healthcare business that operates in Nigeria.
Before Tiserin Capital, Mrs. Kimemia-Nesbitt had a long career at the International Finance Corporation (IFC), culminating in her role as Regional Manager for Manufacturing and Consumer Services in Africa. She holds a Bachelor’s Degree in Economics and Mathematics from St. Lawrence University (New York) and a Master’s Degree in Financial Management from Johns Hopkins University (Baltimore).
She previously represented the Capital Markets Challenge Fund on the CDSC Board. She takes over from Charles Ogola, who leaves the CDSC Board after serving as Chairman and Independent Director, representing public interest, since 2005.
Also joining the Corporation’s Board is Sitoyo Lopokoiyit, as a Non-Executive Director, with effect from April 1st, 2021. He is the interim CEO of M-PESA Africa and Chief Officer, Financial Services at Safaricom, where he oversees New Business Ventures, Product Management and Development for both Consumer and Enterprise.
He is a distinguished financial service and change management expert, having previously served as M-commerce Director at Vodacom, where he oversaw several transformative products and services. These include leading the turnaround strategy and execution for M-PESA, which has resulted in the accelerated growth of M-PESA in Tanzania.
Before joining Vodacom Tanzania, Lopokoiyit was the Head M-PESA Strategy and Business Development at Safaricom. He is a holder of a Bachelor of Commerce (Hons) degree in Marketing from the University of Nairobi and an MSc in Information Technology Management and Organizational Change from Lancaster University in the UK.
Another new face on the CDSC Board include Kiprono Kittony, who joined the CDSC Board on October 1st 2020 and represents the NSE interests where he is also the Chairman.
Lawrence Kimathi Kiambi is another recent appointee as Non-Executive Director with effect from January 1st 2021. Kimathi is currently the Group Chief Finance Officer at KCB Group. He is a distinguished banker and finance expert with leadership experience spanning over 25 years. Kiambi has worked as Finance Director/CFO in several multinational organizations, including Cadbury East and Central Africa, AIG, East Africa Breweries Limited, BAT Sub Sahara Africa and BAT in London.
CDSC provides automated clearing, delivery, and settlement facilities regarding transactions carried out at Nairobi Securities Exchange (NSE) in Kenya.