Blog Archive

Monday, June 23, 2008

CMA - Are they serious?

Pathetic website. www.cma.or.ke

I could not find links on the site to provide feedback. The enquiries & feedback link was little more than a list of press announcements. Lousy website. Did I say that again?

I could not find e-mail addresses for the management... or the Board. Talk of transperancy (or lack thereof). Snail mail contact info... how 1980s...

Did I mention... the latest Annual Report they have online is for 2006... it is almost 6 months after their year end... And the CMA is supposed to enforce the requirement to publish results for Listed firms. Shouldn't the CMA be pro-active?

Are you surprised why Kenya's financial markets are lethargic... scandals & scams abound... and incompetence is the order of the day? It starts at the top...

2 comments:

Chipongwe said...

Most African stock exchanges are same - overpaid civil servants that really think that the market owes them rather than the other way - check out the LSE and SEC initiatives to bring research t smaller caps and introduce XBRL for all - Africa's exchanges are sleeping.... and have done so for the past 12 years - ask what ASEA has acheived? nothing

coldtusker said...

XBRL is a great tool... ASEA is a joke...