The Nairobi Securities Exchange (NSE) launched the Ibuka program in late 2018 with the aim of preparing micro, small and medium-sized companies (MSMEs) for listing on the NSE. The 10-month program is designed to host companies, ideally MSMEs, on two non-trading boards, that is, the Incubator Board and the Accelerator Board. The program also seeks to promote growth and development of Kenyan MSMEs by providing them with access to financial advisors and consultants to assist the companies structure their businesses, enhance their visibility/brand recognition, develop their capability to access the capital markets and get exposure to local and international investors. The Ibuka Program has helped MSMEs attract financing for expansion which they would not have been able to access otherwise because most investors and financiers consider MSMEs risky ventures. At least 18 companies have joined the Ibuka Program including Safaricom Investment Cooperative, Rentco East Africa Limited and Mookh Africa. Ultimately, the goal of the Ibuka Program is to increase the number of companies listed on the NSE.

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