CBA Capital, Equity Investment join NSE

August 19, 2013
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NSE Vice Chairman Bob Karina noted that the NSE, through a clear and transparent process, is keen to admit new trading participants that will expand access to the Kenyan market/FILE
NSE Vice Chairman Bob Karina noted that the NSE, through a clear and transparent process, is keen to admit new trading participants that will expand access to the Kenyan market/FILE
NAIROBI, Kenya, Aug 19 – The Board of Directors of the Nairobi Securities Exchange (NSE) have admitted Commercial Bank of Africa (CBA) Capital Ltd and Equity Investment Bank Ltd as trading participants.

NSE Vice Chairman Bob Karina noted that the NSE, through a clear and transparent process, is keen to admit new trading participants that will expand access to the Kenyan market.

“This is part of our move to being a demutualised exchange with self regulatory responsibilities. Priority will be given to market participants with existing licenses from the Capital Market Authority (CMA),” he said.

He said that the admission of CBA Capital and Equity Investment Bank shows the commitment of the Board to opening up membership of the Exchange in order to affirm Kenya’s position as the financial services hub of East and Central Africa.

CBA Capital Limited which was licensed as an investment bank by the CMA in 2003 is an affiliate company of the CBA Group.

CBA Capital intends to leverage on the M-Shwari customer base to provide local and regional access to Kenya’s capital markets.

Equity Investment Bank Limited received an investment banking license from CMA in 2008, it is an affiliate company of the Equity Bank Group.

The Equity brand is associated with the empowerment of the un-banked and the poorly banked segments of the population.

It has subsidiaries in Uganda, Rwanda, South Sudan and Tanzania. Equity Bank had over 8.2 million customers in Kenya alone and over 7,000 agents. In Kenya it currently has 156 branches spread out across all 47 counties.

The Exchange intends to use technology to make it safer, faster and cheaper for an investor to trade securities listed on the NSE from anywhere in the world.

“It is therefore only natural that the Exchange partners with CBA Capital and Equity Investment Bank who are already licensees of the CMA to use technology to extend its reach to investors in the region and in the Diaspora,” Karina said.

The NSE is on course to list on the Alternative Investment Market Segment (AIMS), before the end of 2013.

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