The Capital Markets Authority of Uganda has appointed Keith Kalyegira as its new chief executive officer replacing Japeth Katto, who has retired after 16 years at the position.

Mr Kalyegira has worked as the Head of Parastatal Monitoring in the Public Enterprise Reform and Divestiture project under the Ministry of Finance, at Uganda’s National Social Security Fund as the Chief Investment Officer and in various finance and management positions with Royal Dutch Shell Group in Uganda and South Africa.

He has previously served on the Uganda Securities Exchange Governing Council, was the managing director of First Renaissance Securities and has worked as a consultant on various business and infrastructure financing projects in the region over the past two years.

“Given his vast experience in the private and public sectors, and particularly the capital markets, I have no doubt that Keith will take Uganda’s capital market to the next level,” said Mr Katto, the outgoing chief executive officer.

“He understands the industry and the environment in which it operates extremely well and I wish him all the best,” he said.

Mr Kalyegira appointment comes at a time when East Africa’s capital markets are making changes to their laws with an aim of allowing the introduction of new products into individual country and regional markets.

He is also joining the regulator when the demand for capital from public and private sources has increased significantly.

Mr Kalyegira said the appointment comes on the eve of several local and regional infrastructure developments and integration efforts which are key focus areas of the capital markets which he would support.

He has represented the Ministry of Finance, Planning and Economic Development on boards of several Public Enterprises including the New Vision and has been a trustee on several public and private sector retirement benefit schemes.

CMA Uganda’s chairman Grace Kavuma on Tuesday said that Mr Kalyegira would ensure that the market would continue to grow and that the Authority would remain well governed.

“The board welcomes Mr Kalyegira’s appointment and are confident that he will provide the right leadership in driving the Authority and industry forward,” said CMA Uganda’s chairman Grace Kavuma adding that the new appointment would ensure that the market continues to grow and the Authority remains well governed.