•Other candidates include Jean-Pierre Antelo (Boliva), A.K Azad (Bangladesh), Rifat Hisarciklioglu (Turkey) Turkiye Toki Mabogunje(Nigeria) and Rim Siam (Egypt).
•The former KNCCI president and current NSE chairman has been keen to see a growth of the country's capital markets including a push for more listings at the bourse.
Attracting more Foreign Direct Investments to Kenya will be among key focus areas for renowned business leader Kiprono Kittony if elected chairperson of the World Chamber Federation, he has indicated.
The Nairobi Securities Exchange (NSE) chairman is also keen on driving growth in the value and volume of Kenya’s exports, while creating more global business links.
Kittony has made the final list of candidates shortlisted for the position of Chairperson–World Chamber Federation (WCF).
Other candidates in the final shortlist include Jean-Pierre Antelo (Boliva), A.K Azad (Bangladesh), Rifat Hisarciklioglu (Turkey) Turkiye Toki Mabogunje(Nigeria) and Rim Siam (Egypt).
Headquartered in Paris, France, the federation is the premier global umbrella body of the Chamber movement worldwide, whose Kenya National Chamber of Commerce and Industry (KNCCI) is a member.
“I am delighted to offer my candidature for the position of World Chamber Federation Chair. If successful, this will be a great opportunity to attract investors to Kenya and drive growth in the value and volume of our exports,” Kitonny said.
WCF director-global partnerships and development said the chairperson selection committee received a total of six candidates “from highly qualified individuals” for the position.
“The WCF chair selection committee is now examining all candidates, and we will keep you informed on the next steps in the election process,” director, Julian Kassum said.
Kittony is a well-known business leader and the former president of KNCCI, a former vice chair of the World Chamber Federation, among other roles.
He is credited with the revival of the KNCCI where he served two terms, ending leadership wrangles that had rocked the chamber in the 90s, and bringing it back to become a leading business lobby entity with global recognition.
“His candidacy has been endorsed widely and if he succeeds, he will be the first business leader from the continent to ascend to this position,” chamber president Erick Rutto stated.
Kittony, who also holds leadership positions in other top companies, was appointed NSE chairman in July 2020 for a three-year tenure and has been.
He has been keen to see a growth of the country's capital markets including a push for more listings at the bourse.
Sitting at the WCF is likely to help drive growth of FDI’s in Kenya where between 2015 and 2021, Kenya’s total stock of FDI stood at $10.4 billion (Sh 1.5 trillion).
Major investors include the UK , Mauritius, US, South Africa and France.
FDI stock is predominantly in finance and insurance (around 33%), information and communication (16.1%), wholesale and retail (15.4%) and manufacturing activities (14.8%).
Kenya has traditionally been one of the largest recipients of FDI in Africa.
According to UNCTAD Investment Report, foreign investment into Kenya has also been partly driven by project finance activity in transport infrastructure.