President William Ruto has disclosed his plan that will see mama mbogas and boda boda riders trade at the Nairobi Stock Exchange. This move is set to improve their ability to save.

Speaking during the launch of the NSE Market Place in Nairobi, president Ruto emphasized the importance of the stock market to his proclaimed ambition of making Kenya a self-reliant nation.

Additionally, Ruto also regurgitated the commitment of his administration to influence the stock exchange market to better the lives of Kenyans.

“I look forward to many Kenyans buying, selling and growing their wealth using NSE. I also look forward to the time when a boda boda guy or a mama mboga will trade on their phone as he or she awaits for the next customer instead of betting,” he stated.

“I came here deliberately because I believe the stock market has the capacity to help us raise capital. “There is demonstrable evidence that within this market there is potential for us to raise the resources that today we are struggling to raise using debt instruments.

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We can get those resources from the people of Kenya through stock exchange,” the president stated.

“My administration intends to not only focus on strengthening and deepening our capital markets to become an alternative source of development capital, but also an alternative form of investment to most Kenyans.”

Further, President Ruto called upon the private sector to partner with Capital Markets to enhance the stock market. He vowed to iron out issues that previously locked out the sector.

“I encourage the private sector companies to work together with the Capital Markets Authority (CMA) and the NSE to list. For those that are reluctant to list because of issues around tax, we will work together with them to deal with any impediments,” Ruto stated.