Stock markets urged to open new funding channels for African small businesses

African securities exchanges have been urged to help small businesses access capital markets as an alternative source of long-term financing to support expansion and job creation.

Principal Secretary for MSMEs Development Susan Auma Mang’eni said small businesses must be prepared to attract investors through improved corporate governance, innovation and productivity.

Speaking during the opening of the Africa Commerce & Industry Summit 2026 at Uhuru Gardens in Nairobi on Wednesday, Mang’eni called for stronger partnerships between governments, business associations and capital market institutions to make more enterprises investment-ready.

She said limited access to affordable financing continues to constrain the growth of micro, small and medium enterprises (MSMEs), limiting their ability to compete in regional and international markets.

Mang’eni challenged securities exchanges across Africa to go beyond traditional listing services and help businesses meet the requirements for raising funds through stock markets and other capital market instruments.

She said such support would give enterprises more opportunities to secure sustainable financing, expand operations and create employment, particularly for young people and women.

The Principal Secretary also called on summit organisers to prioritise youth- and women-led businesses during the three-day meeting, citing their potential to drive inclusive economic growth.

She noted that Kenya faces an annual demand for approximately 1.2 million jobs, with MSMEs expected to account for at least 70 per cent of the opportunities.

Mang’eni further reaffirmed the State Department’s commitment to working with the Kenya National Chamber of Commerce and Industry (KNCCI) to strengthen business capacity, improve market access and enhance the competitiveness of Kenyan enterprises.

The call came as KNCCI marks its 60th anniversary, with the summit providing a platform for discussions on expanding commercial opportunities and strengthening enterprise development across Africa.