NAIROBI SECURITIES EXCHANGE (NSE) AND SHANGHAI STOCK EXCHANGE (SSE) SIGN MOU TO FOSTER MUTUAL COOPERATION
Nairobi, August 12, 2013….The signing ceremony of the Memorandum of Understanding (MoU) between the Nairobi Securities Exchange (NSE) and the Shanghai Stock Exchange (SSE) was held today, at The Sarova Stanley Hotel. The two Exchanges have entered into a collaboration that will benefit the financial services industry in Kenya and the People’s Republic of China.
“We are aware of the NSE’s initiatives to grow the Kenyan economy through the launch of new service offerings that will support Kenya’s plans to become a middle income country by 2030. The SSE is willing to support NSE and its partners towards the development of a vibrant capital market in Kenya that will support Vision 2030.” said Mr. Gui Minjie, Chairman of Board of Governors of the SSE.
“The cooperation between NSE and SSE is an important milestone and a great step towards achieving our vision to be a leading securities exchange in Africa with a global reach.” said Vice Chairman of NSE, Mr. Bob Karina.
The MoU outlines the Exchanges’ areas for future collaboration that includes training of human capital, technology development, product development, mutual sharing of information and undertaking joint research projects. Mr. Peter Mwangi, Chief Executive of NSE added, “The MoU serves as the basis of the partnership with SSE to position the NSE to attract more investment funds from Asia.”
About the Nairobi Securities Exchange
The Nairobi Securities Exchange (NSE) is the principal securities exchange of Kenya. It plays a pivotal role in the economy through raising capital for businesses, mobilizing savings for investment and improving corporate governance. Besides equity securities, the NSE offers a platform for the issuance and trading of debt securities.
The NSE is a member of the African Securities Exchanges Association (ASEA) and the East African Securities Exchanges Association (EASEA). It is an affiliate member of the World Federation of Exchanges (WFE).
About the Shanghai Stock Exchange
The Shanghai Stock Exchange (SSE) was founded on November 26, 1990 and commenced operations on December 19, 1990. It is a membership institution directly governed by the China Securities Regulatory Commission (CSRC). The SSE bases its development on the principle of “legislation, supervision, self-regulation and standardization” to create a transparent, open, safe and efficient marketplace.