The Nairobi Securities Exchange (Ticker: NSE) has entered into a partnership with UK government programme MOBILIST to drive the listing of new investment products in the Kenyan market.
- The partnership also aims to increase the amount of private sector capital available for development and climate projects.
- Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) provides investment and technical assistance to help businesses that contribute to the United Nations Sustainable Development Goals (SDGs) overcome the barriers that keep them from listing on a stock exchange.
- The programme has similar partnerships with several emerging market exchanges, including the Nigerian Exchange and the Johannesburg Stock Exchange (JSE), and will consider applications from eligible Kenyan firms.
“The strategic partnership between the NSE and MOBILIST aligns with our new strategic focus aimed at enabling the NSE to play a more dynamic role in mobilising and channelling capital to sectors that have the most significant capital needs, with a special focus on sustainable development,” NSE CEO, Frank Mwiti said during the launch in Nairobi.
According to MOBILIST Programme Lead at the UK Foreign Commonwealth and Development Office (FCDO), Ross Ferguson, public markets in Kenya and other African economies hold great untapped potential to mobilise the private capital the continent urgently needs to gain ground in addressing the SDGs and the severe impact of climate change.
“Long-term investments that deliver lasting change for the people of both our countries are the cornerstone of the UK-Kenya economic relationship. We go far when we go together – I am delighted to be back in Kenya to deliver our mutually beneficial partnership which is rooted in respect,” His Majesty’s Trade Commissioner for Africa, John Humphrey said.
The partnership comes after Kenya and the UK signed a trade deal in 2020. The Kenyan government is planning to divest from several listed companies, privatise others, and boost new listings as part of wide ranging economic reforms to cut government spending, increase revenue sources, and revive the economy. Read More.
“As a market, we will continue providing a pivotal intersection connecting capital to investment-grade opportunities in Kenya for sustained economic growth,” Mwiti added.
