A Memorandum of Understanding (MoU) was signed by the Nairobi Securities Exchange (NSE) and the Kenya Association of Manufacturers (KAM).
This Memorandum of Understanding (MoU) sets a framework for mutual cooperation, acknowledging the importance of encouraging cooperation to improve access to credit for Small and Medium-sized Enterprises (SMEs) on the capital markets, support job creation, and boost economic growth.
KAM and NSE are committed to working together across a number of areas. This includes choosing KAM SME members who are qualified to raise capital on NSE’s private market platforms, organising investor readiness initiatives with them, facilitating KAM SMEs’ successful fundraising on NSE’s platforms, and utilising NSE’s infrastructure for fundraising and listing to assist non-SME KAM members with equity and debt transactions.
KAM Chief Executive Anthony Mwangi emphasised the association’s dedication to helping SMEs scale up and access finance for company growth and expansion during the occasion.
He stated, “The nation’s growth hinges on SMEs being elevated to the next level. As you work on advancing your businesses, I urge you to actively engage and utilize the resources available on the NSE platform.”
NSE Chief Executive Geoffrey Odundo highlighted the significance of participating in the NSE Connect program for SMEs. He explained, “Our partnership aims to help you achieve two primary objectives: firstly, raising capital effectively, and secondly, determining your business’s valuation.”
Mr Odundo also emphasized that investors are willing to invest in small businesses, provided they maintain strong corporate governance. He elaborated, “This collaboration with KAM is integrated within our private market platform, NSE Connect, which falls under the umbrella of the Ibuka program. By joining, you gain the advantage of accessing company valuation services and enhancing your visibility among potential financiers in the market.”
