NSE announces Ksh 300K sponsorship for SME fest

The Nairobi Securities Exchange (NSE) has announced a Kshs 300,000 sponsorship towards the inaugural SME FEST- Growth Capital session.

The SME Fest 2016 provides SMEs with a unique opportunity to learn global best practices for business network and develop relationships with prospective partners further enhancing their growth potential.

“Small and Medium enterprises (SMEs), contribute about 45 per cent of Kenya’s GDP, offering employment to the largest percentage of the Kenyan population. The NSE therefore remains committed to enabling the growth of our SME’s through initiatives such as the SME FEST,” said NSE chief executive Geoffrey Odundo.

“The NSE sponsorship of the “Growth Capital” Session during the SME Fest 2016 will enable entrepreneurs present, to understand the benefits of listing on the Growth Enterprise Market Segment (GEMS) providing SMEs with a unique opportunity to bolster their capital base, facilitating their development strategies and in turn promoting our Country’s economic growth,” he added.

Entrepreneurs interested in listing under GEMS require a minimum authorized issued and fully paid up share capital of Kshs. 10 million, at least 100,000 shares in issue, adequate working capital for 12 months after listing, within 3 months of listing at least 15% of the shares must be held by not less than 25 shareholders excluding employees of the issuer or family members of the controlling shareholder, and audited accounts for 1 year of operations prior to listing.

The 3 day event will be held in on 7^th – 9^th April 2016 at KICC bringing together various experts entrepreneurs, government representatives and regulators providing an annual platform for thought leaders to meet, network for the growth of the sector.