More analysts want bourse in many hands

• Nairobi Stock Exchange chief says process should be complete next June

Confidence crisis

“The bourse first needs to realise its true value before going public,” said Mr Mwangi.

Mr Ngenye Kariuki, the executive chairman of Ngenye Kariuki and Company Brokers, said the stock market was facing a confidence crisis that needed to be tackled.

He wondered who would be charged with the task of improving the capacity of the capital market players noting that every person who felt rich enough entered the stockbrokerage services.

“Is it stock brokers or the CMA that should carry out capacity building for the industry?” asked Mr Kariuki.

Investors lacked confidence in the stock market because some had lost money to crooked brokers, said Mr Marubu Munyaka, a financial consultant, adding that this was the reason they were keen to see the bourse get out of the hands of brokers.