On Friday, 10th February, 2017Kenyatta University School of Economics incollaboration with Strathmore University’s Institute of Mathematical Sciences, The University of Nairobi Institute for Development studies and Financial Sector Deepening Kenya (FSD), held a public lecture on over-regulation of the financial sector presented by Prof John Kay.
Prof John Kay is one of Britain’s leading economists. He is a distinguished academic, a successful businessman, an adviser to companies and governments around the world, and an acclaimed columnist. His work has been mostly concerned with the application of economics to the analysis of changes in industrial structure and the competitive advantage of individual firms.
Prof John Kay has been a professor at the London Business School and the University of Oxford, and is currently a visiting Professor at the London School of Economics. He was the first director of Oxford University’s Said Business School. In 1986 he founded London Economics, a consulting business, of which he was executive chairman until 1996. During this period, it grew into Britain’s largest independent economic consultancy. Prof.Kay has authored the following books; Other People’s money, Obliquity, Foundations of Corporate Success, The long and Short of it, A series of original portraits and caricature etching, The business of Economics, Culture and prosperity and The British Tax System.
Before the lecture, Prof John Kay paid a courtesy call to the Dean School of Economics, Prof.Nelson.H.W. Wawire. In his welcome remarks, the Dean asserted that the Public lecture was a forum for exploring practice of theory to real world situation. It was also an extension of the many collaborations that the Kenyatta University School of Economics has with different organizations and institutions that aim at benefiting students.
The sentiments were echoed by Dr. Jacob Omolo, chairman of the public lecture organizing committee who further acknowledged the organizing committee and commended them for their good work. The organizing committee comprised of;
- Kenyatta University- Prof. N.H.Wawire, Dr. Jacob Omolo, Dr.Joseph Muniu,Mr.Mdoe Idi,Mr. Forah Obebo and KUESA
- Strathmore University-Dr. Ferdinand Otieno,Lecturer& Acting Dean Strathmore Institute of Mathematical Sciences.
- FSD Kenya-Dr.Amrik Heyer, Head research, Mrs Joyce Omondi Waihiga, Communications Manager, Mrs.Geraldine Makunda,Market Information Project Manager.
In his Address, Prof John Kay explained why finance is failing to perform its core functions and advocated for structural rather than conduct regulation. At the end of the Lecture, Prof. John Kay donated his famed book, ‘Other People’s money’ to all the participating universities.
Over 287members of staff and students from the Kenyatta University School of Economics, Strathmore University Institute of Mathematical Sciences and the University of Nairobi Institute for Development studiesattended the lecture.