Market News

Saracen to seek listing via bourse incubator

Lenny Ng’ang’a
NSE chief executive Geoffrey Odundo and his Saracen Media OMD counterpart Lenny Ng’ang’a (left) during a ceremony to usher Saracen into the Ibuka programme. PHOTO | DIANA NGILA 

Marketing and communications consultancy Saracen Media OMD is eyeing the Nairobi Securities Exchange (NSE) to raise capital for planned regional expansion drive.

Chairman Nani Mungai said opening up Africa for trade meant Kenyan firms must have the financial muscle to snap up new opportunities across the region through provision of home-grown solutions.

Mr Mungai said during a ceremony to usher Saracen Media into the Ibuka programme on Tuesday that the planned listing was also aimed at attracting new ideas and experience from would-be investors on how best to handle succession.

NSE chief executive Geoffrey Odundo said the “founder’s curse” on business sustainability can be effectively addressed by ushering in professionals to run the businesses.