- The initiative aims to deepen financial inclusion by exposing residents to investment opportunities that have traditionally recorded low uptake in northern Kenya
- Youths have been urged to seize the opportunity noting that formal employment opportunities were becoming increasingly scarce
The Capital Markets Authority (CMA) has rolled out a major financial literacy campaign in Wajir County, encouraging residents, especially the youth, to diversify their wealth beyond traditional assets such as livestock and land by exploring investment opportunities in Kenya’s capital markets.
Around 100 young people drawn from across the county are participating in the two-day investor education programme, where they are receiving training on saving, investing, and the various financial products available within the country’s regulated capital markets.
Speaking at the forum, CMA Chairman Ugas Sheikh Mohamed said the initiative aims to deepen financial inclusion by exposing residents to investment opportunities that have traditionally recorded low uptake in northern Kenya. These include stocks, equities, money market funds, and Shariah-compliant financial products such as Sukuk.
“Our mission was to engage the youth, professionals, entrepreneurs, and the wider business community on the vast opportunities available within Kenya’s capital markets, with a special focus on Shariah-compliant investment products that align with the region’s financial values and aspirations” Mohammed said.
He noted that many participants were keen to understand whether the investment products complied with Islamic principles.
“Our key issue is to educate them on what these products are. They are very much interested in Sharia-compliant products,” he said.
Mohammed said financial sector regulators, including the Central Bank of Kenya and the CMA, have been advocating for a national policy framework to support Shariah-compliant financial products as part of wider efforts to promote financial inclusion.
He also urged participants to adopt a culture of long-term saving and disciplined investing, saying the two are essential for building sustainable wealth.
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The CMA said the investor education programme is part of its mandate to regulate Kenya’s capital markets while promoting greater public participation in regulated investment products.
Wajir County Executive Committee Member for Public Service and County Administration Khalif Abdi welcomed the initiative, saying it would empower young people and entrepreneurs with the knowledge and skills needed to make informed financial decisions.
“We used to buy livestock. Livestock perishes; now there’s an opportunity for you to invest your money,” he said.
County Executive Ahmed Wardere urged participants to seize the opportunity noting that formal employment opportunities were becoming increasingly scarce.
“Jobs are currently diminishing, and we need to invest, learn new skills and think about how we can initiate business at our level,” Wardere said.
Representatives from the Nairobi Securities Exchange, investment firms and financial institutions also attended the forum to educate participants on the wide range of investment products available. The initiative aims to increase awareness of formal investment opportunities in a region where many households have traditionally depended on livestock trading and other conventional forms of wealth preservation.
By Frank Mugwe
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