President William Ruto has expressed his anticipation for a time when the government will raise more resources for mama Mbogas and Boda Boda riders to trade via the Nairobi Security Exchange (NSE).
Ruto further insisted on the importance of participation of medium, small, and micro-enterprise (MSME) traders in the Nairobi Securities Exchange (NSE) as it has untapped potential which could be the solution to Kenya’s need for financial aid from foreign lending bodies.
“It is time to unlock the potential that exists in this institution to drive the economy of our county. There is demonstrable evidence in the stock market that there is potential for us to raise the resources that today we are struggling to raise using debt instruments and others we are looking for in debt capital and multilateral instruments,” said President Ruto.
Speaking on Tuesday when he presided over the bell-ringing ceremony to mark the launch of the enhanced NSE Market Place, Ruto said he was looking forward to more Kenyans growing their wealth using the Nairobi Securities Exchange (NSE).
“I look forward to the government of Kenya raising more resources for our development using NSE, whereby many Kenyans grow their wealth using the NSE, whereby that Boda boda guy is trading on his phone as he awaits the next customer, instead of betting. When Mama mboga, when waiting for her next supply, is on her phone buying shares,” Ruto added.
He also invited private companies reluctant to join the NSE because of “tax issues that may arise” if they disclose their financial information, noting that his government is willing to work with collaborate with them and solve the issues.
“The government is willing to work with you so that we can remove those impediments. We are ready to forgive some sins, let me put it that way, so that we can all move together,” he said.
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