The Capital Markets Association of Zambia wish to register its confidence and enthusiasm in working with the just sworn in members of the Capital Markets Tribunal being led by its Chairperson Mrs. Chanda Nkoloma Tembo. The members of the Capital Markets Tribunal were sworn in by Her Ladyship the Hon. Chief Justice Irene C. Mambilima on Wednesday 20th May 2020.
The members of the tribunal were appointed by the Hon. Minister of Finance, pursuant to the Securities Act, No.41 of 2016. The mandate of the tribunal is to hear and determine appeals from decisions of the Securities and Exchange Commission, cases of misconduct in the securities market and other matters specified in the Securities Act or any other written law relating to securities in Zambia.
Speaking at the orientation workshop for the members of the Capital Markets Tribunal, the President of the Capital Markets Association of Zambia, Mr. Nicholas Kabaso stated “We have every confidence that this is a great milestone being achieved for the Capital Markets. We expect the Capital Markets Tribunal to reinforce investor confidence in our markets”
The members of the Tribunal that were sworn are as follows:
And in a congratulatory message sent to the Registrar of the Capital Markets Tribunal Mr. Kabaso wished the members of the Tribunal all the very best and highlighted that the market has every confidence that such appointments could have not come at a better time than now.
He also encouraged market players to familiarize themselves with the Securities Act No. 41, of 2016 which mandates the constitution of the Capital Markets Tribunal.
“It’s only by being familiar with the underlying law on which the Tribunal has been constituted can we as market players and practitioners add value to the whole process” he said.
He also highlighted that the Capital Markets in Zambia continue to chart through uncharted straits. He expressed a lot of optimism, that the Zambian Capital Markets are poised for strong growth trajectory over the medium term. The progress the markets have made this far is unprecedented. As an association we commend the Ministry of Finance who spearheaded the operationalization of the Capital Markets Tribunal in collaboration with the Ministry of Justice and other key stakeholders who included the capital markets regulator the Securities Exchange Commission.
Mrs. Cecilia Sichambwali