In a bid to propel sustainable growth in Kenya's capital markets, the Capital Markets Authority (CMA) unveiled its ambitious 2023-2028 strategic plan, with a particular focus on harnessing the potential of local investors.

Under the stewardship of CMA Chairperson Ugas Mohamed, the forum emphasized the pivotal role of domestic investors in driving market vibrancy and resilience.

"We've gone beyond the hurdle we've actually matured when it comes to issues of regulations and policy frameworks, we're actually above and beyond even some of the developed nations," affirmed Mohamed, underscoring the regulatory advancements that have positioned Kenya's market on an upward trajectory.

However, he posed a crucial question, "But the question now is how do you translate that to Mama Mboga, how do you translate that to the organic growth of capital from our retail investors, our Kenyan local domestic, that is the key question."

Recent market data from the Nairobi Securities Exchange (NSE) paints an optimistic picture, with a remarkable 70 per cent surge in trading activities witnessed over the past three months.

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This surge indicates a positive momentum for market performance, a sentiment echoed by Donald Wangunyu, Chairperson of the Kenya Association of Stockbrokers and Investment Banks.

"International Portfolio Investors have begun relooking at our market and we note BlackRock’s decision to reinvest in the Nairobi Securities Exchange after a four-year break which marks a significant milestone for the NSE," said Wangunyu, highlighting the growing confidence of global investors in Kenya's capital markets.

Moreover, the NSE's upgrade by the FTSE Russell Policy Advisory Board from a "restricted" status to "pass" status further underlines the increasing investor confidence and momentum in Kenya's capital markets, according to Wangunyu.

Recognizing the pivotal role of grassroots investors in sustaining market vibrancy, the CMA aims to attract a diverse range of investment streams, from retail investors to institutional players.

Inclusivity and accessibility are deemed vital factors in fostering broader economic participation and growth within the markets, as highlighted by the authority.

Amidst global uncertainties, the CMA remains resolute in navigating market challenges, underscoring its commitment to fostering a conducive environment for sustainable market growth and development.

With a strategic emphasis on local investors, the CMA's roadmap seeks to pave the way for a robust and resilient capital market ecosystem in Kenya.