Mombasa based auto parts dealer Kawsar Auto Spares Limited became the 25th company to be admitted to the Nairobi Securities Exchange (NSE) Ibuka accelerator program.
Kawsar deals in automotive spare parts, automotive batteries and lubricants. The company has been in business for more than 25 years.
The Ibuka program is meant to support companies with high-growth prospects as they work towards listing on the bourse.
Kawsar is the sixth company from Mombasa to be admitted to the program, with others including APT Commodities Limited and Nyali Capital Limited.
They are provided with, among other things, access to corporate and technical expertise as well as funding options and visibility.
Even as it eyes listing, Kawsar expects to use the Ibuka program as a launch-pad for the next phase of its growth and expansion.
Excited by the addition of Kawsar to the program, NSE Vice Chairman Bob Karina hailed the growing interest in Ibuka.
“This growth underpins the programme’s attractiveness to enterprises in Kenya,” he stated.
Homeboyz Entertainment, one of the companies in the program since 2019, recently announced plans to list on the NSE by the end of 2020.
The media, sports and entertainment company is heavily involved in events and radio through its Homeboyz Radio brand.
Homeboyz CEO Mike Rabar on Monday, October 26 announced during the launch of the BBI report at the Bomas of Kenya that the company would be on the bourse by the end of the year.
He hailed the move as a major milestone, particularly for an entertainment company.
“It hasn’t been easy under the prevailing circumstances, but we have been very successful in expanding the business and by the end of the year, we will be listing on the NSE,” he stated while recounting Homeboyz’ twenty-year growth journey.