Deputy President William Ruto has challenged private companies to raise money from stock exchange instead of borrowing from financial institutions.
The Deputy President said the Nairobi Securities Exchange (NSE) should do more to ensure more companies get listed at the Bourse.
“The NSE is supposed to help us support more companies, especially the big ones, so that they can go to the stock exchange and instead of borrowing money they can list and raise capital for their expansion,” Mr Ruto said during the official opening of the 7th Building African Financial Markets (BAFM) Seminar in Nairobi Thursday.
Mr Ruto said the government is supporting the growth of the capital markets through incentives and an enabling environment.
“One such incentive, which should be exploited is the African Continental Free Trade Area Agreement that was signed by 44 countries in Kigali, Rwanda last month. It allows African countries to trade and cushion themselves from foreign aid,” he said.