Insurance executive Tom Mulwa has been appointed chairman of the Nairobi Securities Exchange (NSE), succeeding Kiprono Kittony, who recently took up the same position at Kenya Airways.
In a notice to shareholders dated July 2, 2026, the NSE said Mulwa will assume the role on July 13, 2026, following approval by the board on June 30.
Mulwa has served as an independent non-executive director on the NSE board since September 2025.
“The board warmly welcomes Mr Mulwa and looks forward to his leadership as the Exchange builds on this strong foundation to deepen Kenya’s capital markets, broaden investor participation and create long-term value for shareholders and the economy,” the NSE said.
The bourse said the leadership changes follow the expiry of the outgoing chairman’s term and a review of the board’s composition aimed at strengthening corporate governance, independence and long-term institutional oversight.
Mulwa brings more than 30 years of experience in the financial services sector.
He is among the founders of Liaison Group, which he joined in 1991, and has served as the company’s chief executive since 1999. During his tenure, he has overseen the firm’s expansion from a local insurance brokerage into a regional non-banking financial services group with operations in Uganda, Tanzania, Rwanda and South Sudan.
He also chairs Kenya National REIT, a public-private sector initiative focused on socio-economic development.
In addition, Mulwa serves on the council of the Association of Pension Trustees and Administrators of Kenya and was appointed by President William Ruto to the National Investment Council in 2022.
He holds a Bachelor of Commerce degree from the University of Nairobi and a Master of Business Administration from the University of Leicester. He is also a Fellow of the Global Risk Management Institute (RIMS Fellow).
Mulwa takes over the leadership of the NSE at a time when the exchange is seeking to deepen Kenya’s capital markets, attract more investors and support the development of new investment products.
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