This archive report was first published on 3 July 2021.
Nairobi, Kenya - July 3, 2021 - The Capital Markets Authority (CMA) has partnered with the Kenya Private Sector Alliance (KEPSA) to support market deepening and leverage capital market products to drive economic growth in line with the Big 4 Agenda and Sustainable Development Goals.
The partnership aims to bridge the development funding gap in Kenya by seeking avenues for private and public sector finance and investment. This collaboration will also focus on developing policy and regulatory interventions to create a conducive business environment that supports a robust, resilient, and inclusive financial sector.
According to CMA Chief Executive officer Wyckliffe Shamiah, the partnership is expected to promote Small and Medium-Sized Enterprises (SMEs) utilization of the capital markets to raise long-term capital. Shamiah noted that one of the strategies adopted by CMA to support SMEs is a review of the existing eligibility and disclosure requirements under the Capital Markets (Securities)(Public Offers Listing and Disclosures) Regulations 2002 regulatory framework.
KEPSA boss Carole Karuga emphasized the importance of the partnership in ensuring that many SMEs discover their way to recovery. Karuga added that the partnership will enable MSMEs to access capital market products, easing their burden of getting credible financing for their operations.
As part of the partnership, KEPSA and CMA will develop a joint work plan to support the activities under the partnership. Some of the planned activities include joint quarterly fora to engage KEPSA members on capital market products and joint publications and research on financial markets.
