18 March 2014

Kenya: More Youths Investing At the NSE

Nairobi — The Capital Markets Authority says that more youths are seeking investment opportunities at the Nairobi Securities Exchange compared to previous years.

According to the authority's Acting Chief Executive Paul Muthaura, the increase is due to lower prices of shares, giving the youth with little income more opportunities to invest.

"The level of youth investments is going up. However overall when you look at the retail investments, which comprise the small end investors rather than institutional investors, the numbers are still relatively small with only 11 to 13 percent investing."

"With the current state of the economy Sh500 is not that much money but it is more than enough to start investment."

"The minimum lot size for investment is 100 shares and there are quite a few of counters that would allow you to buy 100 shares for your Sh500," explained Muthaura.

Muthaura added that the authority has unveiled an investment programme in universities and counties to mobilise more youth towards investments.

"We have an investor education programme at the universities to raise awareness and bring more youth on board that way they become ambassadors of investments."

"Our focus is also drawn to the counties where we organise forums bringing together the smaller end entrepreneurs who are especially the youth with the bigger ones and big companies."

"We are trying to teach them how to make money. Instead of going on the rave how can they make their money work for them through investments," he added.

While on an official visit to Ethiopia, President Uhuru Kenyatta challenged Kenyan and Ethiopian private sector leaders to work together to grow jobs for young people in the two countries.

He said the burden of finding dignified work for young people falls heavily on the private sector leaders as it does on governments.

"It is your duty to work as closely as you can with us to employ our youth, and secure new markets for your goods and services," President Kenyatta said.

The President spoke in Addis Ababa at a Kenya-Ethiopia Business Forum that was addressed by Prime Minister Hailemariam Desalegn.

Leading Kenyan private sector figures including Chris Kirubi of Haco Tiger Brands, James Mwangi of Equity Bank and Betty Maina of Kenya Association of Manufacturers (KAM) attended the forum.

Kenyatta also urged Kenyan and Ethiopian business organisations to begin consultations to identify hurdles that need to be cleared to enhance business interaction between the two countries.


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