Nairobi Bourse Launches Mobile App to Spur Investments through Retail Investors

Foreign investors were bearish on Nairobi Securities Exchange (NSE) offloading their stakes on Safaricom and Equity Group, according to Genghis Capital.

Nairobi Securities Exchange

The Nairobi Securities Exchange (NSE) Tuesday launched its new mobile app with the aim of further reaching out to investors and the financial investment community.

The NSE Mobile App offers investors an easily accessible platform right through their smartphones. 

The app includes a number of features that allow investors to monitor real-time stock prices, view depth and volume information, time and sales, view company announcement and market updates, and a summary of the daily transactions.

NSE Mobile App to Spur Investments through Retail Investors

 

The chief executive of Nairobi Securities Exchange (NSE), Geoffrey Odundo, said the platform provides a real-time opportunity for investors to track your portfolio.

“Over 70 percent of the trading volume being international, we see opportunities in retail investors. We are here to speak about retail investors,” said Odundo.

 Odundo said the bourse since April has witnessed increased participation from local investors with decreased foreign investor participation.

However, firms in sectors such as transport, tourism, manufacturing and agriculture have been hardest hit with their stock prices falling.

Going forward, the NSE chief says innovation would be key to how clients can access the market. “The NSE has provided access from the web to mobile platforms.”

NSE Mobile App to Spur Investments through Retail Investors

 

 

NSE chairman Sam Kimani noted that the delivery of the NSE mobile app is consistent with NSE’s intent to offer uninterrupted services amid the current situation and Government directives put in place to mitigate the effects of the pandemic.

“Today, our country and the entire world is fighting a health crisis and there has been a need to put in place measures to support trading in the market while ensuring that we adhere to the health protocols as laid down by the Government. The NSE has undertaken strategic measures to ensure local and foreign investors have uninterrupted access to Capital Market services in Kenya.”

“Guided by this commitment, the NSE commissioned the upgrade of the NSE Mobile App to incorporate advanced features aimed at ensuring investors continue to access and invest in the stock market remotely through the application.”

Capital Markets Authority (CMA) chairman James Ndegwa during the launch said through the app, it will help in increasing uptake.