The Capital Markets Authority (CMA) has signed up 70 potential issuers for the Business Incubator and Accelerator on the Listing Experience event set for March 30-31.
CMA chief executive Paul Muthaura said the initiative aims to raise the number of firms listed on the Growth Enterprise Market Segment (GEMS) at the Nairobi Securities Exchange (NSE) by four annually.
“The initiative is aligned with the 10-year Capital Market Master Plan (2014-2023), which envisages listing approximately 40 companies by 2023,” he said.
The response from potential issuers, he said, is a clear demonstration of the level of interest in the capital markets as a source of long-term funding to support growth and business expansion plans for companies in Kenya and beyond.
Those expected to participate in the event include the NSE, nominated advisors, transaction advisors, lawyers, auditors, stockbrokers and investment banks and other service providers.
“The incubator and accelerator experience is intended to give interested companies a realistic and practical feel of the listing process. Interested firms will have an opportunity to participate,” said Muthaura.
Areas of engagement on the listing process include identifying business needs and strategy issues, developing business plans, considerations for the appointment of advisors and other agents, required documentation, and regulatory and other approvals.
Muthaura said the authority will also work with business incubators to accelerate the growth and success of entrepreneurial companies through an array of business support resources and services.
