The Capital Markets Authority (CMA) is conducting financial literacy forums with citizens across the county to inform them of wealth creation through the capital markets. Recently, a forum between Governors with the Deputy President stated that counties will soon be allowed to borrow from banks and perhaps this initiative will help counties also consider the capital markets as another avenue for borrowing funds for various development projects.
Speaking on this initiative, CMA’s Acting Chief Executive, Mr Paul Muthaura, said that the Authority is keen to partner with County Governments in recognition that financial literacy is a fundamental intervention under Kenya’s Vision 2030 Economic Pillar.
“The capital markets holds fundraising opportunities for counties, while retail investors are informed of the investment opportunities created by the need for capital by business for growth and expansion.”
Last week, CMA organized a listing forum for the business owners at the Castle Royal Hotel in Mombasa with a focus on listing requirements and fund raising options in the capital markets. The forum, is a follow up to a session organized for community-based organizations on 26 August 2015 on wealth creation through the capital markets. Other issues discussed during the meetings include; the 10-year Capital Market Master Plan; participation in the capital markets for retail investors; collective investment schemes; and ongoing capital market developments.
The Authority has so far visited 17 counties in its quest to broaden the outreach programme and deepen participation in the capital markets across the country.
Mr. Muthaura noted financial literacy improves financial outcomes for retail investors, enables investors to make more informed savings and investment decisions, and enhances better financial and retirement planning in order to support greater wealth accumulation.