Capital Markets

NSE admits car spare parts dealer to incubation project

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Nairobi Securities Exchange. FILE PHOTO | NMG

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Summary

  • NSE vice chairman Bob Karina said that the bourse is hopeful that the induction into the programme will commence Kawsar’s prospective listing journey, and also help the dealer launch its next phase of growth across its various business segments.
  • Kawsar has been specialising in automotive spare parts, automotive batteries and lubricants, and has been operational for over 25 years.

The Nairobi Securities Exchange (NSE) Tuesday admitted Mombasa based motor vehicle spare parts dealer Kawsar Auto Spares to its Ibuka incubation programme, making the firm the 25th inductee into the board.

NSE vice chairman Bob Karina said that the bourse is hopeful that the induction into the programme will commence Kawsar’s prospective listing journey, and also help the dealer launch its next phase of growth across its various business segments.

Kawsar has been specialising in automotive spare parts, automotive batteries and lubricants, and has been operational for over 25 years.

“I am glad to note that since we launched the Ibuka Programme, we have enrolled 25 companies across various sectors of the economy. This growth underpins the programme’s attractiveness to enterprises in Kenya,” said Mr Karina.

The Ibuka programme was rolled out in 2018 to enable select Kenyan companies fast-track their development by accessing financial advisors and consultants to help them structure their businesses, enhance visibility and get exposure among local and international investors with an eye on listing at the bourse.