The Nairobi Securities Exchange has introduced Ibuka Programme, an incubation and acceleration platform that will help address the listing drought at the bourse.
Ibuka seeks to unlock the potential of small and medium sized companies and scale up their business. According to NSE’s chief executive Geoffrey Odundo, there are a growing number of private companies that are ripe for listing and have a strong future outlook.
However, they face challenges such as lack of detailed information and technical knowhow of the listing journey and opportunities available on the capital markets.
“Our desire is for all local companies to emerge from their current status, stand out from their competition while realising their true potential,” he said during the launch of the Ibuka Programme.
Present during the morning event include Kenya Association of Stockbrokers and Investment Banks chairman Paul Mwai, Tuskys chief executive Dan Githua, Seven Seas Technology chief executive Mike Macharia, Polygon Logistics chief executive Benjamin Omollo and the Capital Markets Authority’s Director, Regulatory Policy and Strategy Luke Ombara among other stakeholders.
Business incubation programs are uniquely positioned to help entrepreneurs’ access resources through the incubator, business community, local colleges and universities, and other business assistance programs to help them develop the skills they need to grow highly successful companies, said Mr Odundo.
Ibuka will enable the NSE host local Kenyan companies on a 10 month incubator programme aimed at enhancing their visibility, offer the companies access to a host of experienced financial advisors and consultants for expert advisory, and exposure to local and international investors.
Additionally, the programme will enable companies’ enhance their business structure in line with their growth projections and vision.
“I am very pleased to announce that we have received 10 Expression of Interest forms from local companies in different sectors of the economy to join the programme, some of whom are here with us today. Additionally, we have 10 more in the pipeline eager to join the Ibuka Programme. I urge all companies both large and small to jump onto this great platform and catapult their businesses to the next phase,” added Mr Odundo.
The Ibuka programme includes a panel of experts called Hosting Introducers, Advisors and Consultants. Their role is to provide guidance services on the benefits of the stock exchange and capital markets to Hostees. They will take a critical look at the business model of the companies offering a myriad of services including; restructuring the company’s financial, strategic, commercial, technical, operational and regulatory aspects, completely improving the models of these companies.
Tuskys Mr Githua said, “We are honoured and delighted to be part of a programme that will help us fast track our business and future outlook through expert consulting and business modelling for enterprise growth and development as we look towards our next growth phase for our business.”
RELATED; Odundo’s Remarks Yet Clear Sign That Tuskys About To List At NSE