NSE launches business incubation program

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The Nairobi Securities Exchange (NSE) on Monday launched a 10 month incubation and acceleration initiative that will see Kenyan companies access a wider network of experienced market professionals.

According to NSE CEO Geoffrey Odundo, the program christened Ibuka will enable local companies unlock their growth potential through a well-structured cultivation programme that places a special focus on enhancing the said companies’ business structure, visibility and ability to attract investment.

“Ibuka will enable the NSE host local Kenyan companies on a 10 month incubator programme aimed at enhancing their visibility while also offering the companies access to a host of experienced financial advisors and consultants for expert advisory,” the NSE CEO said.

“The program will also expose the firms to local and international investors while enabling the companies to enhance their business structure in line with their growth projections and vision.”

As it stands, 13 companies have submitted Expressions of Interest to join the Ibuka programme which will be subdivided into two phases. The first stage is the incubation phase which will involve enhancing the companies’ financial, technical, operational, commercial and strategic aspects of business while the second phase dubbed the acceleration phase will enable the companies raise capital through debt and equity markets.

In addition, Mr. Odundo insisted that the program; which has been endorsed by the Government, through the Deputy President, will revolutionalize market access for companies in Kenya.

“There are other advantages of broadening the base of new and expanding firms: MSMEs reduce levels of economic concentration, ensure higher levels of competition and increases opportunities for broad-based economic empowerment,” the NSE boss explained.

The Nairobi Securities Exchange (NSE) is the principal securities exchange in Kenya. Besides equity securities, the NSE offers a platform for the issuance and trading of debt securities. The NSE is a member of the African Securities Exchanges Association (ASEA) and the East African Securities Exchanges Association (EASEA). It is a full member of the Association of Futures Markets (AFM) and the World Federation of Exchanges (WFE), and a partner Exchange in the United Nations Sustainable Stock Exchanges Initiative (SSE).

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