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"type": "speech",
"speaker_name": "Kitui Rural, CCU",
"speaker_title": "Hon. David Mboni",
"speaker": {
"id": 13388,
"legal_name": "David Mwalika Mboni",
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"content": "Part (iv) of the Statement Request is what plans, if any, are underway to develop sensitisation programmes on the ills of ponzi schemes as well as give financial literacy lessons to encourage the citizens on available Government empowerment programmes for unemployed persons and other economically challenged groups for possible safer ways of investments so as to reduce the inclination to invest in unregulated schemes. In this regard, the Capital Markets Authority (CMA) has made the following efforts: (i) Emphasis on continuous and repeated communication with thematic messages on regulated capital market products, licensed entities in capital markets and risks of investing in unregulated products through unlicensed entities; (ii) Partnerships with the CMA; (iii) Engagement with industry associations; (iv) Strategic social media campaigns on Twitter, Facebook, Instagram, and YouTube in partnership with industry players; (v) Leveraging on on-going CMA and industry-led events to drive editorial support; (vi) Organising corporate events in partnership with industry players and key opinion leaders such as golf tournaments to seek industry support; (vii) Engagement sessions with leadership in Parliament and relevant Committees to get buy-in; (viii) Media training/engagement sessions to ensure clear understanding of regulated products, unregulated products, regulatory perimeters of CMA and other topical capital markets issues to ensure accurate reporting and mitigate against misleading/inaccurate reporting; (ix) Support industry events that help build confidence in CMA as a regulator at senior management and technical levels; and, (x) Production of digital infomercials and short documentaries to carry out tailored messages. The Authority recently launched a Capital Markets mobile application which is now on the Google Play Store, which will include several investor protection items. Hon. Temporary Deputy Speaker, the Statement is signed by Hon. Gladys Wanga on 23rd November 2021."
}