Committee of Insurance, Securities
and Non-Banking Financial Authorities




Capital Markets Sub-Committee (CMS)


The CMS has been setup pursuant to Article 13 (4) of the Protocol on Finance and Investment and Paragraph 11.1(a) of the CISNA Rules.

The purpose of the CMS is to address sector specific issues to ensure achievement of the objects of CISNA in particular the securities and capital markets sectors.

The mandate of the CMS is to execute the objects of CISNA as defined in paragraph 2 of the CISNA Rules and in particular to promote harmonisation of legislation and supervisory frameworks in the securities and capital markets sectors.

The CMS shall consist of a minimum of five and a maximum of nine members, elected by the General Council in accordance with Paragraph 12 of the CISNA Rules.

The current composition of the CMS is as follows:


Ms Grace Berejena

The Securities and Exchange Commission, Zimbabwe

Ms Berejena is the Research and Market Development Manager at the Securities and Exchange Commission of Zimbabwe. Prior to joining SEC Zimbabwe, she was Head of Research and Investments at the KM Financial Solutions, Fund Manager at the CFX Asset Management, Senior Investments Analyst with Intermarket Asset Managers and Trainee Investments Analyst.

Ms. Berejena holds a BSc Economics and MSc Economics from the University of Zimbabwe. 

Vice Chairperson

Mr Absalom Kamutyasha Kapenda

Namibia Financial Institutions Supervisory Authority, Namibia

Mr Kapenda is the General Manager: Capital Markets at the Namibia Financial Institutions Supervisory Authority. Previously, he was the General Manager: Strategy and Projects and Manager Capital Markets. Prior to joining NAMFISA, Mr Kapenda was Manager with the Consulting Services Group – Deloitte.

Mr Kapenda holds Masters in Business Administration (Management & Entrepreneurship) and Postgraduate Diploma in Business Management from the University of Pretoria – Gordon Institute of Business Science. He holds a Postgraduate Diploma in Accountancy from Rhodes University and Bachelor of Accounting from the University of Namibia.

Mr Kapenda is a Chartered Accountant and Public Accountant and Auditor as well as member of the Institute of Chartered Accountants of Namibia. He is a director at the Namibian Stock Exchange and Metropol (Ply) Ltd.


Ms Shamila Kara

Prudential Authority

South Africa

Ms Mojadi Kwerepe

Non-Bank Financial Institutions Regulatory Authority


Ms Babhekile Gugu Matsebula

Financial Services Regulatory Authority


Mr Alfred Mkombo

Capital Markets and Securities Authority


Mr Bruce Mulenga

Securities and Exchange Commission


Ms Denise Cláudia Tomás Pitta Grós

Capital Markets Commission


Ms Virginie Annie Quatre

Financial Services Authority 


The Committee of Insurance, Securities and Non-Banking Financial Authorities (CISNA) was established in 1998, pursuant to Annexure 10 of the SADC Protocol on Finance and Investment as a committee of authorities responsible for the supervision of insurance, securities, and non-banking financial institutions (NBFI) in SADC Member States. CISNA is part of the Directorate of Finance, Investment and Customs of the SADC Secretariat and reports to the SADC Committee of Ministers of Finance and Investment through the Committee of Senior Treasury Officials.

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