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Kenya

NSE, Shanghai pact to boost Asian investments

NSE-HQSNAIROBI, Kenya, Aug 12 – The Nairobi Securities Exchange (NSE) has signed a Memorandum of Understanding with China’s – Shanghai Securities Exchange (SSE) to attract more investment funds from Asia.

Speaking at the announcement, Nairobi Securities Exchange Vice Chairman Bob Karina said he MoU outlines future collaboration that includes training of human capital.

“The MoU also outlines collaboration in technology development, product development and mutual sharing of information and undertaking joint research projects,” Karina said.

Karina said the MoU proposes in depth cooperation on the product categories or sectors of mutual interest, including jointly developing products.

“The cooperation between NSE and SSE is an important milestone and a great step towards achieving or vision to be a leading securities exchange in Africa with a global reach,” Karina said.

On his part, the SSE Chairman Gui Minjie said that they are willing to support the NSE and its partners towards the development of a vibrant capital market in Kenya that will support Vision 2030.

“We are aware that the NSE initiatives to grow Kenya’s economy through the launch of new service offerings that will support Kenya’s plan to become a middle income country by 2030,” Minjie said.

Minjie said that this partnership will help in joint research projects on topics of mutual interest to the parties.

“Nairobi Securities Exchange is one of the largest in Africa and we hope that the signing of the MoU can further enhance our understanding of the two markets and carry out further corporation the exchange business,” he said.

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