President Uhuru Kenyatta urges small companies to list on NSE -By - TopicsExpress

President Uhuru Kenyatta urges small companies to list on NSE -By PSCU SHENZHEN, CHINA President Uhuru Kenyatta has encouraged Small and Medium Enterprises (SMEs) to list on the Nairobi Securities Exchange (NSE) to fund their expansion. President Kenyatta said increased SMEs activity at the bourse would consolidate Kenya’s position as a regional financial hub. “We are committed to involving the SMEs in our quest to strengthen Nairobi’s capacity to meet East and Central Africa demand for financial services,” the President said after a visit to the Shenzhen Stock Exchange. President Kenyatta said Government was creating a conducive environment for SMEs to thrive as the sector was important in growing the economy. REVIEW LEGISLATION He said the legislation and licensing regime governing the SMEs was being reviewed to make it a one-stop-shop to attract more investment. “SMEs are the backbone of innovation and are crucial to provision of homegrown solutions to some of the economic challenges facing our country,” he said. He urged the young people to take advantage of the thriving Information Technology industry in Kenya to start, expand and list SMEs at the NSE. This, the President said, would go a long way in creating employment. President Kenyatta observed that the impressive growth of Shenzhen bourse was driven by unity of purpose, focus, discipline and hard work. CHINA VISIT He asked Kenyans to embrace the same values in order to succeed in their socio-economic aspirations. Briefing the President, SHZ Chairman Chen Dongzheng said the bourse is the second largest in China and 9th in Asia, lists more than 1500 companies. President Kenyatta concludes his visit to China Friday. His tour saw Kenya and China sign eight agreements on economic partnerships. President Kenyatta and First Lady Margaret Kenyatta also toured the Shenzhen Museum, taking in the 30-year transformation of the city from a small border outpost to a modern metropolis.

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