In Summary
  • Chief executive Geoffrey Odundo is urging companies to open up shareholding as a way of endearing products to Kenyans.
  • He said locally incorporated companies also need new thinking from visionary boards that help fend off competition from deep-pocketed foreign firms.

The Nairobi Securities Exchange’s (NSE) efforts to attract new listings and end its decade-old IPO drought has ignited fresh interest with 10 companies expressing interest to list.

Under the ongoing Ibuka incubation programme, family-owned firms say they need fresh ideas to grow their market reach as well as attract new capital to cash in on emerging opportunities.

Chief executive Geoffrey Odundo is pushing NSE’s growth agenda, urging local firms to open up shareholding as a way of endearing their products to Kenyans.

Mr Odundo said locally incorporated companies also need new thinking from visionary boards that help fend off competition from deep-pocketed foreign firms.

“Ibuka is an opportunity to nurture Kenyan firms into becoming investor-ready ahead of listing where they will be advised on the expertise needed in boards to drive their businesses to the next level.

The world is changing and people want companies that respect the people they employ, become community by supporting projects that impact society as well as run clean operations.

“We give you visibility among local and global shareholders keen on buying stakes in Kenyan firms as well as facilitate advisory services on book keeping, creation of boards as well as insistence on strict observance of the people-planet-profit principle that promotes sustainable business practices,” he said.

Homeboyz is the latest entrant in the Ibuka programme after APT Commodities Limited (APTC), Globetrotter Agency Limited, Moad Capital Limited, Bluenile Rolling Mills Limited, Myspace Properties (K) Limited, Vehicle and Equipment Leasing Limited (VAELL), Polygon Logistics Limited, Nile Capital Insurance Brokers EA Limited, and Nyali Capital Limited.

Except Bluenile Rolling Mills of Thika, all the firms are based in Nairobi, raising fears that only a few Kenyans know what the firms do and it would hence be a Herculean task trying to popularise their products or services.

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