July 22, 2024
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Ten firms set to join Nairobi Stock Exchange


President William Ruto has disclosed that ten companies are set to join the Nairobi Stock Exchange in the next one year.

He said that his government is keen on listing more companies on the NSE, effectively stimulating liquidity and giving shareholders an opportunity to realise the value of their investments.

“In the next 12 months, we will have between six and ten companies listed in the Stock Exchange. I promise we will deliver on that commitment,” Ruto said.

He disclosed this on Tuesday during the Bell Ringing Ceremony to launch the enhanced Nairobi Stock Exchange marketplace.

Ruto explained that the addition of public companies into the stock exchange market will democratise wealth and allowing members of the public to have a share of the returns.

Listing of companies on the NSE allows shareholders to transact in the shares of the company and share risks and benefit from any increase in the organizational value.

The President encouraged members in the private sector to bring in five companies to be enlisted on the stock exchange market.

He also revealed that his government will raise financing for government projects through the Nairobi bourse as opposed to borrowing from external markets.

On his part, NSE chairperson Kiprono Kittony said the NSE marketplace will help highlight opportunities for global companies looking for international expansion specifically in Africa.

“The Market Place will provide a platform for Kenya to communicate investment opportunities to the world, positioning the country as a hub for trade and investments, enabling Kenya to attract FDI across various sectors,” Kittony said.

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