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President William Ruto: Stock Exchange is Critical for Kenya’s Growth

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President William Ruto gracing the Nairobi Securities Exchange (NSE) event earlier on today emphasized his objective of empowering every Kenyan not only monetary wise but also inculcating a saving culture.

NSE was launching market place in Nairobi bearing the solemn role played by the stock market in the nation’s growth. The initiative seeks to revive market activity and boost the NSE stock market’s growth.

According to the president, Kenyans need avenues of investments and developing their capital to be empowered financially.

“My administration intends to not only focus on strengthening and deepening our capital markets to become an alternative source of development capital, but also an alternative form of investment to most Kenyans.”

President Ruto revealed his sole goal of enabling the mama mboga and boda boda guy to venture in the stock market business.

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“I look forward to many Kenyans buying, selling and growing their wealth using NSE. I also look forward to the time when a boda boda guy or a mama mboga will trade on their phone as he or she awaits for the next customer instead of betting,” he stated.

Venturing on a course of making Kenya Great again, the president has urged on the importance of self-reliance as a nation and Enhanced Stock market he believes will assist solve the debt crisis.

“I came here deliberately because I believe the stock market has the capacity to help us raise capital. “There is demonstrable evidence that within this market there is potential for us to raise the resources that today we are struggling to raise using debt instruments. We can get those resources from the people of Kenya through stock exchange,” the president stated.

President William Ruto attending the occasion is a brick moved in history since the late President Emilio Kibaki, hence gives an impression of probable soaring of the economy.

Further the president revealed that he would ease the business transactions and iron out issues that are proving a hindrance for the sector.

“I encourage the private sector companies to work together with the Capital Markets Authority (CMA) and the NSE to list. For those that are reluctant to list because of issues around tax, we will work together with them to deal with any impediments,” Ruto stated.

 

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