Congratulations to Dr. Marlene Street Forrest, the esteemed Managing Director of the Jamaica Stock Exchange, Mr. Geoffrey Odundo, the distinguished CEO of the Nairobi Securities Exchange, Mr. Kiprono Kitony, the Chairman of the Nairobi Stock Exchange, Mr. Ugas Mohammed, the Chairman of the Kenya Capital Markets Authority, Mr. Wycliffe Shamiah, the accomplished CEO of the Kenya Capital Markets Authority, and other key contributors who played pivotal roles behind the scenes in achieving this momentous milestone.
The Jamaica Stock Exchange and Nairobi Securities Exchange have recently etched a noteworthy chapter in financial market collaboration by formalizing their commitment through the signing of a groundbreaking Memorandum of Understanding (MoU). This historic agreement is poised to elevate their partnership to new heights, fostering a more resilient and diversified financial landscape. Kenya and Jamaica entered into a bilateral relationship under the visionary leadership of retired Kenyan President Uhuru Kenyatta and Jamaican Prime Minister Hon. Andrew Holiness, this strategic alliance signifies a deepening of ties between the two nations. Beyond the financial realm, Jamaica and Kenya share compelling similarities, from climate conditions to a legacy of producing outstanding sporting talents, exquisite coffee flavors, alluring tourism attractions, and picturesque beaches, further solidifying the natural affinity between these two nations.
The Memorandum of Understanding delineates ambitious plans to enhance the financial markets with innovative product offerings, notably featuring green bonds and Real Estate Investment Trusts (REITs). Moreover, both exchanges are set to collaboratively facilitate the cross-listing of companies, opening avenues for expanded investment opportunities and enhanced market liquidity. As the Jamaica Stock Exchange and Nairobi Securities Exchange embark on this collaborative journey, they are positioned to establish a precedent for financial cooperation and innovation, showcasing the potential for mutually beneficial partnerships in the global economic landscape.
By Peter Kegode
Life Coach, Social Justice Advocacy, Education, STEM & Financial Literacy and Climate Action. Agribusiness, IPC Health Ambassador
