Nairobi Securities Exchange Partners With UK's MOBILIST To Increase Kenya's Listed Products

• The NSE and the UK'S MOBILIST programme have launched a new partnership aimed at driving the listing of new investment products in Kenya
• His Majesty’s Trade Commissioner for Africa, John Humphrey, attended the launch event in Nairobi as part of his three-day visit to Kenya
• The MOBILIST programme, part of the UK government’s broader investment strategy, will start receiving applications from Kenyan businesses

Elijah Ntongai, a journalist at TUKO.co.ke, has more than three years of financial, business, and technology research and reporting expertise, providing insights into Kenyan and global trends.

Nairobi, Kenya – The Nairobi Securities Exchange (NSE) and the UK government’s MOBILIST programme have launched a new partnership.

The initiative, announced during a high-profile event in Nairobi, seeks to increase private sector capital for development and climate projects in Kenya by driving the listing of new investment products in the Kenyan market.

Who attended the event?

The launch event was graced by His Majesty’s Trade Commissioner for Africa, John Humphrey, at the start of his three-day visit to Kenya.

The event was also attended by Frank Mwiti, CEO of the NSE and Ross Ferguson, MOBILIST Programme Lead at the UK’s Foreign Commonwealth and Development Office (FCDO).

What are the benefits NSE-MOBILIST partnership?

The partnership, which forms part of the UK Government’s broader investment strategy, is designed to help businesses that contribute to the United Nations Sustainable Development Goals (SDGs) overcome barriers to listing on stock exchanges.

MOBILIST, through investment and technical assistance, will support eligible Kenyan firms in securing listings and accessing vital capital.

"Mobilising investment solutions in Kenya is vital to economic growth as they provide a platform for Kenyan businesses to raise the capital they need to expand their operations, increase cross-border trade, and employ more Kenyans – and at the same time tackle climate change and achieve critical development goals," said Humphrey.

He further emphasised the long-term benefits of such partnerships.

"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."

Mwiti, CEO of the NSE, expressed optimism about the partnership's potential impact on the Kenyan economy.

"The NSE is delighted to partner with the UK government-backed MOBILIST Programme. The strategic partnership aligns with our new focus on 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," Mwiti stated.

Ferguson highlighted the importance of developing local capital markets to address Africa’s economic and environmental challenges.

"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. MOBILIST is proud to partner with the NSE in building a local capital market that can give the African firms working on these challenges access to the capital they need to grow," said Ferguson.

The MOBILIST programme, already active in markets such as Nigeria and South Africa, will now consider applications from Kenyan businesses that align with the SDGs.

As part of his visit, trade commissioner Humphrey will meet with Kenya’s Cabinet Secretary for Investments, Trade and Industry, Salim Mvurya, to discuss the UK-Kenya strategic partnership, a five-year agreement that fosters mutual economic growth while steering clear of unsustainable debt.

He will also launch the British Business Breakfast Club, which will provide a platform for engaging British Kenyan enterprises and addressing their challenges.

In addition to his engagements in Nairobi, Humphrey will travel to Naivasha to meet with Flamingo Flowers, a British-owned business and one of Kenya’s largest exporters of cut flowers.

NSE launches bond market reforms

Earlier, TUKO.co.ke reported that the National Treasury and Economic Planning Cabinet Secretary John Mbadi presided over the launch of the bond market reforms at the Nairobi bourse.

During the event, he praised the introduction of a hybrid bond market, which he believes will broaden access to capital for Kenya’s economic growth without increasing the country’s debt burden.

Mbadi also highlighted the launch of NSE's real-time daily yield curve, a crucial tool for assessing interest rates in real-time and guiding investment strategies.

Proofreading by Mercy Nyambura Guthua, journalist and copy editor at TUKO.co.ke