Explainer
Reference9 minany desk that cites a Kenyan primary
Who sets what: CBK, CMA, NSE, and the National Treasury
- Facts
- Analysis
A map of institutional roles in Kenya’s banking and capital-markets system — who issues, who regulates, who operates the exchange, and who sets policy rates — so a desk does not cite the wrong primary.
- The Central Bank of Kenya sets the policy rate and supervises banks. It is not the listing authority for equities.
- The Capital Markets Authority regulates markets and licensed persons. The NSE operates the cash equity and listed-debt venue.
- The National Treasury is the sovereign issuer. Confusing issuer, regulator, and venue is the most common citation error we see.