NSE partners with First Future to launch a USSD-based platform for investors

The Nairobi Securities Exchange (NSE) has partnered with First Future Limited to launch a USSD-based platform, "NSEasy", aimed at simplifying and streamlining the client onboarding process for aspiring investors.

This innovative initiative was unveiled today and promises to make stock market investment more accessible, transparent, and secure, particularly for individuals in remote locations.

David Wainaina, Acting Chief Executive Officer of the NSE, emphasized the transformative role of digital platforms in democratizing investment opportunities.

"Digital platforms and technologies have been instrumental in promoting efficiency, eliminating geographical barriers, and fostering financial literacy among retail investors," he remarked.

Previously, opening a Central Depository Services (CDS) account, a prerequisite for stock market participation, presented challenges.

NSEasy tackles these hurdles by leveraging USSD technology to facilitate client onboarding.

This not only addresses Know Your Customer (KYC) requirements but also broadens financial inclusion, particularly in rural areas with limited internet access.

Wainaina lauded the NSEasy platform as a potential game-changer for client onboarding and future securities trading in Kenya.

He concluded by calling upon other financial technology firms to collaborate with the NSE in creating a more extensive network of investor touchpoints through diverse digital platforms.

The introduction of NSEasy signifies a significant step towards making the Kenyan stock market more inclusive and fostering a culture of investment among the citizenry.

This collaboration between the NSE and First Future Limited has the potential to unlock a new wave of investor participation, propelling Kenya's capital markets to new heights.