AIB Capital limited, a stock brokerage, bond dealer and corporate finance advisory firm, has launched a digital solution set to disrupt equity trading on the Nairobi Stock Exchange (NSE).
Dubbed AIB Digitrader, the product seeks to remove all the hurdles that bar Kenyans from owning shares on the stock-exchange. Users can access the solution in three forms; first, by using a smart or non-smartphone, or through the online platform where users can access the website and via a mobile phone app, where users can download the AIB Mobile App.
The Innovation goes to the core of the Capital Market Authority’s (CMA) aspirations to stimulate Gross National savings as a ration of GDP from the current estimated 12 percent to 30 per cent by the year 2030.
Through AIB partnerships with the government database integrated population Integration Services (IPRS) and the Central Depository and settlement Corporation Limited (CDSC) among other stakeholders, every single step of trading is self-service.
This move by AIB capital limited comes in the wake of efforts by the CMA to stem the decline in investments by Kenyans.
In September 2018, the CMA launched the Capital Market University challenge as part of its effort to increase its potential investor base by promoting investor education and public awareness among the youth.
The NSE also came up with the NSE Investment challenge that targets the youth in tertiary learning institutions with the aim of creating a savings culture among the Kenyan youth.
“AIB Digitrader is a timely intervention that will attract the youth familiar with convenience and speed into investing in the Kenyan Capital Markets. We also anticipate further up-take from far flung target markets such as traders in remote areas in Kenya and traders in the Diaspora,” AIB says in a statement.
By developing local Capital Markets through robust investment culture, AIB expects Kenya’s economy to reap numerous benefits including long-term capital through mobilization of savings, easing the pressure off the banking system by matching long-term investments with long term capital and improving efficiency of capital allocation through competitive price discovery and valuation of entities.