@TheStar

NSE to unveil app as Kenya hosts Africa stock exchanges

8 months ago, 17 Apr 00:22

By: Victor Amadala @i ...

Nairobi Securities Exchange is set to roll out a digital campaign to attract youthful traders into investing in capital markets. Speaking to the Star, NSE chief executive Geoffrey Odundo said they are planning to come up with a mobile app which will break down complex capital market information for ordinary Kenyans. "Kenya has made great strides in terms of mobile phone technology and penetration. We will  leverage on these gains to launch the NSE app and SSD code where users will access simplified information on how to invest in capital market,’’ said Odundo. Last year, Kenya issued the first ever government bond traded exclusively on mobile phone, a move that attracted investors from the bottom economic pyramid. Dubbed M-Akiba, investors in this bond received their first dividends via M-Pesa last week. Various tech firms and banks including NIC have products that enable customers to trade in shares on their mobile phones. Others include SBG Securities which launched M-share that allow investors to buy and sell shares directly on the NSE Although he did not give timelines on when the app will be launched, NSE’s digital campaign is seen as a wider plan by security exchanges in Africa to leverage on technology to grow the capital market. Kenya will from Thursday this week host the Africa Security Exchange Seminar, bringing together 28 stock exchanges in the continent. Odundo said Kenya is honoured to host the seminar which will bring together the best brains in the African financial sector and financial technology space. "We are bringing capital markets home. Expect top-notch insights on capital market investment as we prepare investors for greater growth in the sector through technology," said Odundo. The two day event, slated for Thursday and Friday this week will run under the theme Adaptive innovation as a lever for growth and sustainable development of African financial market.  The seminar is coming at the time when reports are showing that foreigners are controlling the continent’s capital market, an aspect attributed to poor knowledge of the market by local investors   Although foreigners' level of participation at the NSE has been dropping since mid-last year, they still control the market at more than 50 per cent. According to the latest soundness report by Capital Market Authority (CMA), foreigners’ participation at NSE dropped to 49.14 in June last year but has since regained to 55.69 per cent. Their dominance has however slowed significantly from a whopping 79.81 per cent in January last year. The same scenario is replicated across the continent, with almost a half of the companies which make up the JSE’s Top 40 are owned by foreigners
Read More


Category: business news topnews

Suggested

1 hour ago
@BusinessDaily - By: Galgallo Fayo
Cytonn sues over 35-storey Kilimani tower’s approval

Investment group Cytonn has sued Nairobi City County for cancelling an approval for the construction of a multi-storey tower in Nairobi’s Kilimani area following opposition by a section of residents. ...

Category: business news
1 hour ago
@BusinessDaily - By: Seraphine Ruligir ...
Are you deadweight? Here are your options

If you’re keeping deadweight in your team, do the right thing — develop them or let them go thereby creating space in your organisation for better talent to come in. ...

Category: business news
1 hour ago
@BusinessDaily - By: Cathy Mputhia
#Metoo campaign and what labour laws say

Towards the end of last year, there was a global campaign against sexual assault and harassment in the workplace, that is the #Metoo campaign. ...

Category: business news
1 hour ago
@BusinessDaily - By: Anzetse Were
WERE: African ‘agency’ crucial as foreigners court continent

We should be clear about our priorities if key agents of interests are to emerge. ...

Category: business news corporate
7 hours ago, 16:00
@BusinessDaily - By: Gerald Andae
Tough balancing act for Kenya as China and US battle for its

The United States has once again renewed its war with China as it seeks to tame its influence in Africa, particularly in Kenya, which has enjoyed a lot of financial support from the Asian nation. ...

Category: business news lifestyle corporate
1 hour ago
@BusinessDaily - By: Joyce Nyairo And ...
How government can protect Kenyans from easy digital loans

Not every person using microlenders online understands the cost of the easily accessible money. ...

Category: business news

@TheStar

NSE to unveil app as Kenya hosts Africa stock exchanges

8 months ago, 17 Apr 00:22

By: Victor Amadala @i ...
Nairobi Securities Exchange is set to roll out a digital campaign to attract youthful traders into investing in capital markets. Speaking to the Star, NSE chief executive Geoffrey Odundo said they are planning to come up with a mobile app which will break down complex capital market information for ordinary Kenyans. "Kenya has made great strides in terms of mobile phone technology and penetration. We will  leverage on these gains to launch the NSE app and SSD code where users will access simplified information on how to invest in capital market,’’ said Odundo. Last year, Kenya issued the first ever government bond traded exclusively on mobile phone, a move that attracted investors from the bottom economic pyramid. Dubbed M-Akiba, investors in this bond received their first dividends via M-Pesa last week. Various tech firms and banks including NIC have products that enable customers to trade in shares on their mobile phones. Others include SBG Securities which launched M-share that allow investors to buy and sell shares directly on the NSE Although he did not give timelines on when the app will be launched, NSE’s digital campaign is seen as a wider plan by security exchanges in Africa to leverage on technology to grow the capital market. Kenya will from Thursday this week host the Africa Security Exchange Seminar, bringing together 28 stock exchanges in the continent. Odundo said Kenya is honoured to host the seminar which will bring together the best brains in the African financial sector and financial technology space. "We are bringing capital markets home. Expect top-notch insights on capital market investment as we prepare investors for greater growth in the sector through technology," said Odundo. The two day event, slated for Thursday and Friday this week will run under the theme Adaptive innovation as a lever for growth and sustainable development of African financial market.  The seminar is coming at the time when reports are showing that foreigners are controlling the continent’s capital market, an aspect attributed to poor knowledge of the market by local investors   Although foreigners' level of participation at the NSE has been dropping since mid-last year, they still control the market at more than 50 per cent. According to the latest soundness report by Capital Market Authority (CMA), foreigners’ participation at NSE dropped to 49.14 in June last year but has since regained to 55.69 per cent. Their dominance has however slowed significantly from a whopping 79.81 per cent in January last year. The same scenario is replicated across the continent, with almost a half of the companies which make up the JSE’s Top 40 are owned by foreigners
Read More

Category: business news topnews

Suggested

1 hour ago
@BusinessDaily - By: Galgallo Fayo
Cytonn sues over 35-storey Kilimani tower’s approval

Investment group Cytonn has sued Nairobi City County for cancelling an approval for the construction of a multi-storey tower in Nairobi’s Kilimani area following opposition by a section of residents. ...

Category: business news
1 hour ago
@BusinessDaily - By: Seraphine Ruligir ...
Are you deadweight? Here are your options

If you’re keeping deadweight in your team, do the right thing — develop them or let them go thereby creating space in your organisation for better talent to come in. ...

Category: business news
1 hour ago
@BusinessDaily - By: Cathy Mputhia
#Metoo campaign and what labour laws say

Towards the end of last year, there was a global campaign against sexual assault and harassment in the workplace, that is the #Metoo campaign. ...

Category: business news
1 hour ago
@BusinessDaily - By: Anzetse Were
WERE: African ‘agency’ crucial as foreigners court continent

We should be clear about our priorities if key agents of interests are to emerge. ...

Category: business news corporate
7 hours ago, 16:00
@BusinessDaily - By: Gerald Andae
Tough balancing act for Kenya as China and US battle for its

The United States has once again renewed its war with China as it seeks to tame its influence in Africa, particularly in Kenya, which has enjoyed a lot of financial support from the Asian nation. ...

Category: business news lifestyle corporate
1 hour ago
@BusinessDaily - By: Joyce Nyairo And ...
How government can protect Kenyans from easy digital loans

Not every person using microlenders online understands the cost of the easily accessible money. ...

Category: business news
Our App