Keynote Speaker

HON. AMOS KIMUNYA, Member of Parliament, Minister for Finance, Republic of Kenya.

Hon. Amos Kimunya has been Minister of Finance, Republic of Kenya, since in February 2006. Before then, he was the Minister of Lands and Settlement. He holds a bachelors degree in commerce (accounting) from the University of Nairobi and is also a Certified Public Accountant (CPA, K) and a Certified Public Secretary (CPS, K). The Ministry of Finance is charged with directing financial and macroeconomic policy, national budget coordination and control, and bilateral and multilateral development, financing, and technical assistance for the Kenyan government. In this regard the Ministry of Finance aims to make the country a middle income nation by the year 2030, with a sustained Gross Domestic Product (GDP) growth of 10 percent over the next 25 years. The vision is anchored on three key pillars: economic, social and political that would turn Kenya into a middle income country offering high quality life opportunities for all its citizens in a safe and sustainable environment. This is achievable through investments in key sectors including tourism, wholesale and retail, manufacturing, agriculture and agro-based industries, business process outsourcing and financial services. For more information visit

Plenary Speakers

H. E. AMBASSADOR PETER OGEGO, Kenyan Ambassador to the United States.

Dr. WAHOME GAKURU, Director, Social Sector - National Economic and Social Council (NESC).

Wahome Gakuru (PhD) is the Director in charge of the Social Sector as well the Acting Director in charge of the Kenya Vision 2030 at the National Economic and Social Council (NESC), Kenya. Dr. Gakuru holds a PhD in Public Administration from Arizona State University, an MBA (majoring in Strategy) from Willamette University, USA, another MBA and a Bachelor of Commerce degree both from the University of Nairobi, Kenya. Prior to joining NESC, Dr. Gakuru was the Strategy Development Manager at the National AIDS Control Council. Dr. Gakuru has over 10 years experience in teaching management at the School of Business, University of Nairobi. He has also worked as a strategic management consultant in both the private and public sectors.

Dr Gakuru has been a recipient of the prestigious Fulbright Scholarship from the US government. He is also a member of several international societies such as the America Society for Public Administration, American Marketing Association, Pi Alpha Alpha Honor Society (Public Admin.)- USA, and Beta Sigma Honor Society (Business Mgt.) - USA.

MR LEE KARURI, Chairman, Kenya Private Sector Alliance (KEPSA).

Mr. Lee Karuri is the Chairman of Kenya Private Sector Alliance (KEPSA). KEPSA is an umbrella body of the private sector formed in 2003 to create a unified and single voice for private sector in Kenya to influence public policy formulation. KEPSA seeks to integrate the private sector as an equal partner with the government in economic policy formulation. It also mobilizes its members to articulate issues of common interest and creates synergy among them.

KEPSA provides a single inclusive voice for the private sector in public policy dialogue, hence a framework for public-private sector partnership. It also advocates for and monitors cross cutting policy issues at the national and grassroots levels. For more information visit

MS. SUSAN KIKWAI, Managing Director, Kenya Investment Authority (KIA).

Ms. Susan Kikwai is the Managing Director of Kenya Investment Authority (KIA). The Kenya Investment Authority is the premier institution mandated with the responsibility of promoting and facilitating private investments in Kenya for both local and foreign investors. The authority was established by the government of Kenya in 2004 to facilitate foreign and local investment ventures in Kenya. In 2006, KIA processed 108 projects with an estimated capital investment of 90 billion shillings ($1.3 billion). 80 billion shillings ($1.2 billion) of the capital came from Foreign Direct Investment and 10 billion shillings came from local investors. The government of Kenya is dedicated to continue providing an enabling environment to both local and international investors with a clear focus on providing a modern infrastructure, establishing rules of law, improving security and transforming the public service into an efficient, transparent and accountable service. The Kenya Investment Authority’s services are free of charge.

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DR. BITANGE NDEMO, Permanent Secretary, Ministry of Information and Communication.

Dr. Ndemo holds a Bachelor’s degree in Finance, and a Masters in Management Information Systems from Minnesota USA, and a PhD degree in Industrial Economics from the University of Sheffield, England. Between 1989 and 1993 he was a Financial Systems Analyst with Medtronic Inc. a fortune 500 company in the USA. He joined University of Nairobi in 1993 as a Tutorial Fellow rising through the ranks to become a Senior Lecturer in the Business School. In 2005, Dr Ndemo was appointed Permanent Secretary in the Ministry of Information and Communication where he quickly started new development programmes, including marketing Kenya as a destination for Business Processing outsourcing.

MR. JIMNAH MBARU, Chairman, Nairobi Stock Exchange (NSE).

Mr. Jimnah Mbaru is an internationally renowned investment banker who has made a remarkable contribution to the development of capital markets in Africa. He has been associated with the development of financial institutions including the Nairobi Stock Exchange (NSE), where he served as chairman for 10 years and the Africa Stock Exchanges Association, which he launched as a founder chairman in 1993. He is the current Chairman of the Nairobi Stock Exchange. He is also serving as chairman and director of several companies, including Dyer & Blair Limited, a leading stock broking firm.

The Nairobi Stock Exchange (NSE), was formed in 1954 as a voluntary organization of stockbrokers and is now one of the most active capital markets in Africa. In 2006 the NSE’s turnover grew by 162% and closed over 42 percent up in real terms. The NSE deals in both variable income securities and fixed income securities. The Exchange comprises approximately 50 listed companies with a daily trading volume of over US$ 5.0 million and a total market capitalization of approximately US$ 7.0 billion. Delivery and settlement is done electronically via a Central Depository System (CDS) which was installed in 2005. The NSE recently introduced an Automated Trading System (ATS) which ensures that the most competitive bids/offers are executed on a first come/first served basis. There are no foreign exchange controls in Kenya and also no capital gains tax. Dividend withholding tax for foreigners is a final 10%.

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Session Facilitators and Resource Persons


Mr. Mwangi holds a Bachelor of Commerce degree (Accounting Option) from the University of Nairobi and is a Certified Public Accountant (CPA (K)). Mr. Mwangi has steered Equity Bank Ltd. into the best micro-financing institution in the country. Under his leadership, Equity Bank posted Ksh. 1.1 billion in profits before tax, up from Ksh. 501 million in the previous year, representing a 120% growth in the financial year ending December 31, 2006. The unbending growth curve, seemingly tethered to the good times means the over 100% growth in pre tax profit is consistent with the recent milestone where the bank clocked the one million customers mark – making it control over 30% of all bank accounts in the country. Total assets grew by 74% from Ksh. 11.5 billion in December 2005 owing to the continued expansion in branch network, staff costs and marketing costs during a year when the bank became the first privately owned indigenous bank to be listed on the Nairobi Stock Exchange. Mr. Mwangi previously served in other leading banking institutions and also held a two-year appointment at the UN Advisors Group on Inclusive Financial Sectors.

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MR. FRED MBURU, Director, Senior Portfolio Manager, Old Mutual Asset Managers.

Mr. Mburu began his career at Citibank Nairobi as a trainee and moved on to Barclays Investment Services where he was responsible for client relationships with a total value in excess of Kshs 6 billion. At Old Mutual Asset Managers, Mr. Mburu is a senior portfolio manager, specialising in equity research and analysis and oversees client relationships with a total value in excess of Kshs 10 billion. He is currently training to become a Chartered Financial Analyst and has over 13 years of investment experience.

MS. LILLIAN MAREMMA, Old Mutual Asset Managers.

MR. FRANK IRERI, Managing Director, Housing Finance.

MR. EDDY NJOROGE, Managing Director, KenGen.

Mr. Njoroge is the Managing Director of Kenya Electricity Generating Company Limited, (KenGen). KenGen is the leading electric power generation company in Kenya, producing about 80% of the electricity consumed in the country. The company generates electricity from various sources ranging from hydro, geothermal, thermal and wind with the Hydro being the leading source, with an installed capacity of 677.3MW, which represents 72.3% of the total capacity. This however only provides power to 16% of the population. The company plans to increase its capacity by 35% through a mix on investment in new plants and increasing the generation capacity of existing one, over the next five years. This is estimated to cost approximately US $ 1 billion to generate 500MW for an estimated 500,000 new subscribers in Kenya alone. With its wealth of experience, established corporate base and a clear vision, the company intends to maintain leadership in the liberalized electric energy sub-sector in Kenya and the Eastern Africa Region.

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DR. ACHIENG ONGONGA, Managing Director, KTB.

MS. ESTHER KOIMETT, Investment Secretary, Ministry of Finance.

DR. EDWARD SAMBILI, PS, Ministry of Planning & National Development.

Dr. Sambili is currently the Permanent Secretary, Ministry of Planning and National Development where he has overall responsibility for implementation and coordination of economic policy, planning, management, monitoring and evaluation. He is also involved in NEPAD programmes, Millennium Development Goals, Poverty Eradication Program and coordination of the new National Vision 2030 initiative. Dr. Sambili has previously served the country with commitment, holding leadership positions such as Deputy Governor of the Central Bank of Kenya during which time he supervised the entire financial sector, monitory policy and foreign exchange reserves of the country. Dr. Sambili has a Doctor of Philosophy degree (Ph.D) in Economics from Lancaster University, UK and a Masters in International Trade and Development from the same University. He earned his Bachelor of Education (B.Ed), in Mathematics and Economics (First Class Honours), from University of Nairobi.

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PROF. OLIVE MUGENDA, Vice Chancellor, Kenyatta University.

Prof. Mugenda rose from the position of Tutorial Fellow to full Professor and is currently the Vice-Chancellor, Kenyatta University. She has rendered administrative duties at Kenyatta University with dedication and commitment for ten years. Kenyatta University is located 16 kilometres from Nairobi on the Nairobi - Thika Highway. The history of the University dates back in 1965 when Templer Barracks was converted into an Institution of higher learning known as Kenyatta University College. In 1985, Kenyatta University College was made a full fledged University and was renamed Kenyatta University. Today it is the second largest university in Kenya and enrolls about 8,000 students. The university offers degrees in the Faculties of Education, Arts, Science, Home Economics, Environmental Studies and commerce. All the faculties offer Bachelors, Masters and Ph.D programs.

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PROF. SPERLING, Deputy-Vice Chancellor, Strathmore University.

Dr. David Sperling is Deputy Vice Chancellor for Planning and Development at Strathmore University. He is also the former Chairman of the Governing Council of Strathmore University and Associate Professor of History and Islamic Studies at Strathmore University. Dr Sperling, an American became Kenyan citizen in 1971. Strathmore College was started in 1961 as an Advanced-level Sixth Form College offering Science and Arts subjects by a group of professionals, who formed a charitable Educational Trust (now the Strathmore Educational Trust). It has a total population of 4,393 students (full-time and part-time) studying Accountancy, Administration, Commerce, Finance, Management and Information Technology.

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MR. PIUS NGUGI, Coffee Sector.

MR. JAMES NJUGUNA MUGO, Kenya Investment Authority.

Mr Njuguna is the Policy Advocacy Manager at the Kenya Investment Authority (KIA). In this capacity, Mr. Njuguna conducts analyses of the various investment and trade policies in diverse sectors in Kenya, spearheads reviews of the same, and advocates for reform where necessary by means of specific policy advocacy strategies. Mr. Njuguna is a member of a number of technical committees in this regard, including East Africa Community (EAC) Technical Working Groups, and the Kenya Association of Manufacturers, among others. In addition, Mr. Njuguna is involved in the construction of agreements with various countries on the Protection and Promotion of Investments and the Avoidance of Double Taxation. He also monitors global trends in investment and commercial practices and policies, laws and regulations in order to adopt a unified approach to the same on a regional level. In this respect Mr. Njuguna dialogues with stakeholders involved in trade and investment from the public sector, private sector and the civil society, as well as international organizations and development partners. Mr. Njuguna also represents KIA on the Diaspora Bill committee. He holds a Law degree and Masters degree in Risk Management, Operations and Regulation from the University of Reading, UK.