Kenyans at all income levels have been urged by President William Ruto to make good financial decisions.
The head of state urged low-income workers like mama mbogas and boda boda drivers to purchase shares in companies listed on the Nairobi Securities Exchange (NSE) Market Place during his remarks on Tuesday, October 11.
“I look forward to many Kenyans buying, selling and growing their wealth using NSE. I also look forward to the time when a boda boda guy or a mama mboga will trade on their phone as he or she awaits the next customer instead of betting. It’s possible,” Ruto said.
“They can buy shares on Safaricom, Bidco and other publicly listed companies,” he added.
The president highlighted that the bond market and listing of publicly traded enterprises on the stock market might assist the nation in obtaining development financing.
The NSE Market Place aims to increase market growth and market activity. Through the Hustler Fund, Ruto promised to enhance the lives of the so-called hustlers.
The leader of the United Democratic Alliance (UDA) stated that improving the business climate and assisting small business owners were top priorities for his administration.
On Tuesday, September 13, after taking the oath of office, he spoke, emphasizing the bottom-up economic approach and urging Kenyans to band together in small groups to secure business finance.
He said that the government would provide accessible financing through Chamas and SACCOs without collateral under the KSh 50 billion hustling fund.
“To implement all these interventions, we shall establish a Ministry of Cooperatives and SME Development mandated to ensure that every small business has secure property rights, access to finance and a supportive regulatory framework,” he said.