Nyali Capital, a non-deposit taking microfinance, has been admitted to the Nairobi Securities Exchange (NSE) premium incubation and acceleration program, Ibuka.
“The admission of Nyali Capital Limited onto the Ibuka program is a testament of the company’s growth prospects and solid strategy as companies on the program have undergone a rigorous vetting and evaluation process to determine growth and expansion prospects,” said Geoffrey Odundo, NSE chief executive.
We as Nyali Capital are happy to officially become the 9th company to join the Nairobi Securities Exchange, Ibuka Program. This also makes us the 2nd company in Ibuka from Mombasa County. We wouldn't have achieved this fete had it not been your continued support. Asanteni sana. pic.twitter.com/JUyXeAhaz0
— Nyali Capital Ltd (@Nyalicapital) May 10, 2019
Wanjiku Wambugu, chief executive Nyali Capital acknowledged that the Ibuka program is a game changer product in Kenya’s capital markets.
“I would like to thank the NSE for taking this great initiative to help a business like ours to mushroom to bigger enterprises and set up the right structures.”
“Being part of this program is a significant milestone towards transforming the way entrepreneurs and Small Medium Enterprises (SMEs) businesses are able to raise capital in our country,” she added.
Nyali Capital has branches in Eldoret, Nairobi, and Mombasa. According to Wanjiku, Local Purchase Order (LPO) Financing is their flagship product that has had a positive uptake ‘particularly by the preferential groups that are the Women, the youth and people with disability who benefit from 30% of the tenders’. “Our unique proposition is that we fund 100% of the cost. We are able to lend to our customers on the basis of securitization of the LPO documents as opposed to traditional tangible security.”
Ibuka is a premium incubation and acceleration program aimed at enhancing an organization’s brand recognition and visibility; offer companies’ access to expert consultancy and advisory services.