CMA, KEPSA partner to support market deepening and uptake of capital market products

NAIROBI, Kenya, Jul 3-The Capital Markets Authority (CMA) has partnered with the Kenya Private Sector Alliance (KEPSA) to support market deepening and leveraging capital market products to catalyse growth in line with the Big 4 Agenda and Sustainable Development Goals.

The partnership will see CMA and KEPSA seek avenues for private and public sector finance and investment necessary to support Kenya’s economic growth and complement development funding gaps.

The two institutions seek to collaborate in the development of policy and regulatory interventions to create a conducive business environment that will support a robust, resilient, and inclusive financial sector through the growth of the capital markets.

The CMA Chief Executive officer  Wyckliffe Shamiah said the partnership is expected to promote Small and Medium-Sized Enterprises (SMEs) utilization of the capital markets to raise long-term capital in appreciation of the critical role of SMEs in the economy.

“One of the strategies adopted by CMA to support SMEs tap into the capital markets is a review and possible revision of the existing eligibility and disclosure requirements under the Capital Markets (Securities)(Public Offers Listing and Disclosures) Regulations 2002 regulatory framework to make it more responsive to emerging and evolving market needs,” said Shamiah.

KEPSA boss Carole Karuga added the deal the partnership will go a long way in ensuring that many of the SME’s discover their way to recovery.

“Our MSMEs will now be able to access the capital market products, hence easing their burden of getting credible financing for their operations,” said Karuga.

KEPSA and CMA will develop a joint work plan to support the activities under the partnership.

Some of the planned activities include:- joint quarterly fora to engage KEPSA members on capital market products, and joint publications and research on financial markets to create financial quick reference materials to be distributed to critical stakeholders such as the youth, investment clubs, and professionals.