The engagement of medium-sized, small-and micro-enterprises (MSME) investors on the Nairobi Securities Exchange is something that President William Ruto has shown an interest in (NSE).
Ruto remarked that he looked forward to seeing if Boda Boda operators and Mama Mbogas would be trading on the national stock market. He said this on Tuesday when he was in charge of the bell-ringing ceremony to celebrate the new NSE Market Place.
"I'm eager for the Kenyan government to use the NSE to raise more funds for our growth. I want to see many Kenyans increase their fortunes by trading on their phones rather than just placing bets while waiting for the next customer.
" While waiting for her next client, Mama Mboga could also purchase shares on her phone," President Ruto said.
The President said that the NSE has untapped potential that can help Kenya get the money it needs instead of from foreign lenders.
"It's time to use this institution's potential to propel our nation's economy forward.
"The potential to generate the funds that we are currently trying to raise through loan instruments, as well as other resources that we are seeking for in debt capital and multilateral instruments, is demonstrated in the stock market, "President Ruto remarked.
He continued, "Debt is hurting our government and our industries, so we must go down that road. That money that we are so urgently looking for out there, with the correct tools, we can collect those resources from the people of Kenya through the Nairobi Stock Exchange. "
He also invited private businesses that were hesitant to join the NSE because, "tax complications could happen" if they shared their financial information. He said that his administration was ready to work with them to solve any problems.
"The administration is prepared to cooperate with you to get rid of such obstacles.
"We are prepared to pardon some sins so that we may all go forward," said the president.
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