NAIROBI, Kenya, July 3rdThe Capital Markets Authority (CMA) has partnered with the Kenya Private Sector Alliance (KEPSA) to support market deepening and leverage of capital market products to drive growth in line with the Big 4 agenda and Sustainable Development Goals catalyze.
As part of the partnership, CMA and KEPSA will seek avenues for the private and public sector funding and investment needed to support Kenya’s economic growth and address funding gaps in development.
The two institutions seek to work together to develop policy and regulatory measures to create a conducive business environment that supports a robust, resilient and inclusive financial sector through the growth of capital markets.
Wyckliffe Shamiah, CMA’s chief executive officer, said the partnership is designed to encourage small and medium-sized enterprises (SMEs) to leverage capital markets to raise long-term capital to recognize the vital role SMEs play in the economy.
“One of CMA’s strategies to help SMEs enter the capital markets is to review and possibly revise existing licensing and disclosure requirements under the Capital Markets (Securities) (Public Offers Listing and Disclosures) Regulations 2002 to do so to better respond to new and evolving market needs, ”said Samiah.
KEPSA chief Carole Karuga added that the partnership will go a long way in ensuring that many of the SMEs find their way to recovery.
“Our MSMEs now have access to capital market products and thus relieve the credible financing of their business,” said Karuga.
KEPSA and CMA will develop a joint work plan to support the partnership activities.
Planned activities include: – Joint quarterly forums to engage KEPSA members in capital market products, as well as joint publications and research on financial markets to produce brief financial reference materials that will be distributed to critical stakeholders such as youth, investment clubs and professionals.