Merican Limited, a producer of commercial food and beverage equipment solutions based in Nairobi has been onboarded onto the Nairobi Securities Exchange’s (NSE) incubation and acceleration program joining a group of ambitious companies looking for their next growth opportunity through the capital markets.
Merican Limited is joining the Accelerator Board of the program following a rigorous evaluation and vetting process making it the 23rd company to join the program since its launch in December 2018.
Merican Limited offers a variety of products such as extraction systems, cooking equipment, ovens, preparation units among others.
Speaking during the admission ceremony, Geoffrey Odundo, NSE Chief Executive noted, “Merican Limited admission onto the NSE Ibuka Program is a testament of the firm’s commitment to seek advanced avenues to enhance its growth and development as it seeks to launch its next phase of expansion.”
“The NSE has placed a special focus on supporting business growth through a well-structured program aimed at preparing companies to list or access other capital options offered by the market in line with their strategic goals and priorities” he added.
The NSE Ibuka Program is aimed at growing the visibility, brand recognition and business opportunities among hostee companies.
The program seeks to end a prolonged listing drought at the bourse by taking small and medium-sized companies through a 10 month incubation period.
The program is designed around Hosting on non-trading boards; these are the Incubator Board and the Accelerator Board.
The program will enable select Kenyan companies to fast-track their development by accessing financial advisors and consultants to help them structure their businesses, enhance visibility and get exposure to local and international investors.
Additionally, the program will assist in inculcating improved corporatization, develop capabilities to access capital markets as well as provide a roadmap to long term corporate sustainability.