The Nairobi Securities Exchange (NSE) has admitted Kawsar Auto Spares onto its premium incubation and acceleration program, Ibuka.
The admission comes after a rigorous evaluation and vetting process that resulted in Kawsar Auto Spares becoming the 25th company to join the program.
Kawsar Auto Spares is a motor vehicle spare parts dealer in Mombasa, Kenya that specializes in automotive spare parts, automotive batteries and lubricants. Its growth over the years has been attributed to its visionary and dynamic leadership which has taken full advantage of the technological advances made in the motor vehicle spares parts industry.
“This enrolment is a key milestone that will commence Kawsar’s prospective listing and growth journey. The program will prepare Kawsar as it launches its next phase of growth across its various business segments and markets. I am glad to note that since we launched the Ibuka Program, we have enrolled 24 companies across various sectors of the economy. This growth underpins the program’s attractiveness to enterprises in Kenya,” Bob Karina, NSE Vice Chairman said in a statement.
On his part, Zahra Gulamhusein, Kawsar Auto Spares Finance Director, lauded the development which experts anticipate will exponentially increase the firm’s growth prospects moving.
“Partnering with Ibuka will not only help with achieving our company goals but rather provide us with exposure, quality consultancy and recognition. We are thankful for this opportunity and look forward to working towards greatness and success,” Kawsar’s Finance Director said.
Ibuka is an incubation and acceleration program,that was rolled out in 2018, for aspirational companies with growth prospects. It enables select Kenyan companies fast track their developments by accessing financial advisors and consultants to help them structure their businesses, enhance visibility and get exposure among local and international investors. Other firms inducted into the Ibuka incubation program include: Nile Capital, VAELL, Polygon, Myspace Properties, APTI Commodities, Globetrotters Agency, Bluenile Rolling Mills and Moad Capital among others.