[kictanet] Kenya to soon get NASDAQ-like Exchange to promote funding at bottom tier

[Brian Munyao Longwe]

Kenya to soon get NASDAQ-like Exchange to promote funding at bottom tier

It's very exciting to see that the Capital Markets Authority is  
stedfastly progressing towards the opening of another stock exchange  
to service Over The Counter (OTC) transactions.

The OTC market is expected to primarily serve Small and Medium  
Enterprises (SMEs) engaged in productive activities such as  
manufacturing, information technology, finance, land-related  
investments.

Going by experiences in other countries it is clear what the impact  
of the introduction of an OTC market in India in 1990 (!) has had on  
that economy. The OTCEI in India calls itself the exchange for  
Technology and growth stocks and has supported the capitalisation and  
growth of enterprises that have become worldwide brands. The Indian  
OTC market has over 115 listings.

This will definitely be a significant milestone in the development of  
Kenya's economy as current estimates show at least 22,000 SMEs which  
serve as potential to list on the OTC.

It is anticipated that the OTC should open by around October later  
this year.

Can't wait!

[Brian blogs at http://mashilingi.blogspot.com]
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