This archive report was first published on 14 November 2019.
On November 14, 2019, the Nairobi Securities Exchange (NSE) welcomed Buzz Afrique, an integrated marketing and communications firm, to its Ibuka incubation and growth acceleration programme.
Buzz Afrique, with offices in Nairobi and Mombasa, joins a growing list of elite companies under the programme, which aims to increase the number of companies listed on the bourse.
According to NSE CEO Geoffrey Odundo, the programme will enable Buzz Afrique and other participating companies establish their appropriate equity value as they prepare to list their shares.
Companies hosted on Ibuka will also benefit from the partnership between the NSE and China's Shenzhen Stock Exchange (SZSE), gaining exposure to investors in the Asian country.
“Through the partnership, NSE will link the micro, small and medium scale enterprises sectors in Kenya to investors in Shenzhen, allowing capital flow on a larger scale and enabling Ibuka hostee companies to grow and get exposure from our counterparts in China,” Odundo said.
Buzz Afrique CEO Samora Machel stated that admission to Ibuka will enable the company to fast-track its development by accessing financial advisors and consultants to help structure the business, enhance visibility, and get exposure among local and international investors.
“Our entry into the Ibuka programme is another milestone in the development of the company, following a successful rebranding phase that revamped our corporate identity in line with our growth strategy focusing on supporting clients' expectations, change in competitiveness in service delivery, and market expansion,” Machel said.
Buzz Afrique offers services in experiential marketing, events management, public relations, corporate branding, and merchandising. The company has been pursuing an ambitious expansion strategy, establishing new offices to cater for its growing client base and acquiring a printing plant to handle production of materials for corporate branding.
Ibuka is a joint initiative of the NSE and the Kenya Association of Stock Brokers and Investment Banks (KASIB), endorsed by the Capital Markets Authority, to enable companies establish their appropriate equity value.
Buzz Afrique is the 19th company to be hosted by the programme, joining other hostees such as Safaricom Investments Co-operatives Limited, Nyali Capital Limited, Tusker Mattresses, Rentco, My Space Properties, and Homeboyz Entertainment, among others.
