Sam Kimani has resigned from the board of Uchumi Supermarkets.
The retail chain said Kimani resigned due to conflict of interest over his membership at the Nairobi Securities Exchange, which is set to become a self regulation organisation.
As a self-regulating organisation, the NSE will have powers to create and enforce industry regulations and standards with the core objective of protecting investors through rules that promote ethics and equality.
This function is currently largely undertaken by the Capital Markets Authority.
"Serving on the board of Uchumi being a listed entity on the NSE presents a conflict of interest to the outgoing director," Uchumi said.
