[Kenya] Nairobi Securities Exchange launches Ibuka
The Nairobi Securities Exchange (NSE) has launched an incubation and acceleration board called Ibuka. To date, 13 companies have submitted Expressions of Interest to join the Ibuka Programme while 10 other companies have shown a keen interest participating.
Through this programme, local companies from across the country will undergo two phases; the incubation phase, involving enhancing their financial, technical, operational, commercial and strategic aspects of their businesses whilst the acceleration phase, will enable the companies to raise capital through debt and equity market as they track valuation as well as produce specialized documents such as capital raising and equity raising reports.
Speaking during the launch of Ibuka, the NSE Chief Executive Officer, Mr. Geoffrey Odundo noted, “This programme will enable companies unlock their growth potential through a well-structured incubation programme that places a special focus on enhancing the select companies’ business structure, visibility and ability to attract investment among local and international investors.”
He added that the programme has been designed to meet international standards that will see Kenyan companies benefit from access to a wider network of experienced market professionals, broaden their knowledge and experience, and enable them join an excellent path towards access to the Kenyan capital market.”
Ibuka will enable the NSE to host select Kenyan companies on a 10 month course aimed at enhancing their visibility, offering access to a host of financial advisors and consultants, and exposure to local and international investors. It will also enable companies to enhance their business structure as they prepare for their next phase of growth.
Speaking on behalf of the hosted companies, Mr. Dan Githua, Chief Executive Officer, Tuskys Supermarkets noted that, “We are honored and delighted to be part of a programme that will help us fast track our business and future outlook through expert consulting and business modelling for enterprise growth and development as we look towards our next growth phase for our business.”