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CMA: Companies listed in Nairobi Securities Exchange have until June to file audited accounts

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The move to relax compliance requirements comes as the spread of the coronavirus has severely impacted on business environment.

An employee points to stock information displayed on an electronic screen inside the Nairobi Securities Exchange Ltd. (NSE), in Nairobi, Kenya, on Tuesday, Dec. 8, 2015. The government had planned to plug the 2016-17 fiscal deficit with about 240 billion shillings of external borrowing, and about the same amount raised on the domestic debt market. Photographer: Riccardo Gangale/Bloomberg

Firms listed in Nairobi Securities Exchange (NSE) have been given one more month to submit and publish their audited financial statements, says Capital Markets Authority (CMA).

The expected deadline was at the end of this month or April for most companies, but the regulator has offered them the extension in light of the disruptions brought about by coronavirus, commonly known as COVID-19.

CMA said in cases where reporting obligations are also required by other regulators such as the Central Bank of Kenya (CBK), companies should consult with those regulators.

Banks, for instance, report to both CMA and CBK and will require a green light from the two agencies to postpone publication of their results.

The move to relax compliance requirements comes as the spread of the coronavirus has severely impacted on business environment.

CMA’s acting chief executive Wyckliffe Shamiah said the regulator has given the extension to all licensed intermediaries, issuers of securities to the public and collective investment schemes.

However, firms that can complete and file their statements and publish the same within the regulatory timelines were encouraged to do so to ensure investors obtain information in a timely manner, CMA said in a statement.

This particular obligation has been waived until June 30. CMA added that companies can publish their results on social media and their websites besides those of the regulator and the NSE.

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