I look forward to Boda boda riders, Mama Mboga trading on NSE – President Ruto

President William Ruto has expressed anticipation for the participation of medium, small and micro-enterprise (MSME) traders in the Nairobi Securities Exchange (NSE).

Speaking on Tuesday when he presided over the bell-ringing ceremony to mark the launch of the enhanced NSE Market Place, Ruto said he looks forward to a time Boda Boda operators and Mama Mbogas will be trading in the national stock market.

"I look forward to the government of Kenya raising more resources for our development using NSE, whereby many Kenyans grow their wealth using the NSE, whereby that Boda boda guy is trading on his phone as he awaits the next customer, instead of betting. When Mama mboga, when waiting for her next supply, is on her phone buying  shares," said President Ruto.

The Head of State noted that the NSE has an untapped potential which could be the solution to Kenya's need for financial aid from foreign lending bodies.

"It is time to unlock the potential that exists in this institution to drive the economy of our county. There is demonstrable evidence in the stock market that there is potential for us to raise the resources that today we are struggling to raise using debt instruments and others we are looking for in debt capital and multilateral instruments," said President Ruto.

"That money that we are so desperately looking for out there, with proper instruments, we can get those resources from the people of Kenya through the Nairobi Stock exchange," he added, "debt is weighing down our government and our companies and so it is important that we go down that direction."

He also invited private companies reluctant to join the NSE because of "tax issues that may arise" if they disclose their financial information, noting that his government is willing to work with collaborate with them to iron out issues.

"The government is willing to work with you so that we can remove those impediments. We are ready to forgive some sins, let me put it that way, so that we can all move together," he said.