The Nairobi Securities Exchange (NSE) has disclosed plans to increase the number of startups listing on the bourse by unveiling an incubator program tagged Ibuka (Emerge).
The incubator program which started in December last year will accelerate startups such as financial technology and entertainment, with the aim to enable them to raise funds in two or three years.
Already, some startups have been admitted into the program and they include My Space Properties, APT Commodities, which trades tea in the coastal city of Mombasa and Blue Nile Rolling Mills, a steel company. The companies will be receive training on issues related to corporate governance and also help them expand their networks.
The CEO of the exchange, Geoffrey Odundo said: “As opposed to waiting for companies to come to market when they are ready, we want to make them ready,” he said on the trading floor of the market.
“It is a platform that doesn’t have very restrictive entry requirements – we don’t even look for your financials, all we want to know is if you are keeping financials.”
