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NSE admits leasing firm to Ibuka

In Summary

•VAELL hosting on Ibuka will increase the company’s visibility in the Kenyan market.

•VAELL is involved in asset leasing, maintenance and consulting in East and Central Africa.

An investor points screen display of daily tradings at the Nairobi Stocks exchange in Nairobi on January 30,2019. Photo/Enos Teche.
An investor points screen display of daily tradings at the Nairobi Stocks exchange in Nairobi on January 30,2019. Photo/Enos Teche.

The Nairobi Securities Exchange (NSE) has admitted Vehicle and Equipment Leasing Limited (VAELL) onto its  incubation and acceleration programme, Ibuka.

VAELL is involved in asset leasing, maintenance and consulting in East and Central Africa.

It provides customised leasing services in Kenya, Uganda, Rwanda, Tanzania and Zambia. 

“This enrollment is a key milestone and will commence VAELL’s prospective listing and growth journey,” NSE chief executive Geoffrey Odundo said.

VAELL chairman Joseph Kiiza said the firm has been on a positive growth trajectory over the years which would  have been  higher  if  the firm had   adequate  capital  to  take  up  new opportunities in various markets.

He said VAELL plans to grow its equipment and tractor sharing platforms in the region riding on the back of the leaser’s leading programs.

 “We are pleased to have been admitted for the NSE incubation and acceleration program as we gear ourselves up to list shares on the NSE," said the firm's managing directo Bertha Mvati.

Mvati said VAELL's hosting on Ibuka will increase the company’s visibility in the Kenyan market as well as broaden its access to capital options in order to fund the  future growth initiatives.

Ibuka is aimed at growing visibility while enhancing brand recognition and business opportunities among hostee companies.

Since inception, the program has attracted six companies across various sectors.