APPROVAL FOR THE OFFER FOR SALE AND LISTING OF THE ORDINARY SHARES OF CO-OPERATIVE BANK OF KENYA LIMITED 

In exercise of the powers conferred on the Authority by Regulations 3 and 6 of the Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations, 2002, the Authority Board has approved for:

Pursuant to the intervention at Discount Securities Limited and appointment of KPMG Kenya as the new Executive Director of Discount Securities Limited replacing David Githaiga, to restructure the company and ensure its business continues in the interest of the capital markets and the investing public in Kenya; the Capital Markets Authority would like to make the following clarification in public interest; 

The State of the Kenyan Capital Markets and the Restructuring of Discount Securities Limited 

October 13, 2008 ............ The Capital Markets Authority and the Nairobi Stock Exchange would like to make the following obsewations on the current global financial markets crisis.
We would like investors and the general public to note that the crisis is as a result of credit problems (credit market) and is not directly due to stock trading strategies adopted in the equity market as happened in the 1987 crisis.

16/7/2008: The Capital Markets Authority (CMA) has approved an application by Prime Bank Limited to operate as an Authorized Depository.