CMA takes investment drive to Wajir as youth urged to look beyond livestock and land

The Capital Markets Authority (CMA) has launched a major financial literacy campaign in Wajir County, urging residents—particularly young people—to shift from traditional wealth such as livestock and land and embrace investment opportunities in Kenya's capital markets.

About 100 young people from across the county are taking part in the two-day investor education programme, where they are being trained on saving, investing and the wide range of financial products available in regulated markets.

Speaking during the forum, CMA Chairman Ugas Sheikh Mohammed said the initiative seeks to widen financial inclusion by introducing residents to investment options that have seen limited uptake in northern Kenya, including stocks, equities, money market funds and Shariah-compliant financial products such as Sukuk.

"We've gathered here today to train members of the community in Wajir County on financial literacy and investment opportunities in the capital markets," Mohammed said.

He said the programme is specifically targeting youth, professionals, entrepreneurs and the wider business community, with a strong focus on investment products that align with the region's predominantly Muslim population.

"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," he said.

Mohammed noted that many residents are accustomed to investing in livestock, land and other physical assets, but said it was time to broaden investment choices.

"Most of the people here are so used to traditional products and alternative investments like land, animals and physical products. Now all of a sudden that moves to a global stage and national stage, where we're talking about products such as stocks, equities, money market funds and other investment opportunities," he said.

He added 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 pushing for a national policy framework to support Shariah-compliant financial products as part of broader efforts to enhance financial inclusion.

He also encouraged participants to embrace long-term saving and disciplined investing as a pathway to building wealth.

The CMA said investor education is part of its mandate to regulate Kenya's capital markets while increasing public participation in regulated investment products.

Wajir County Executive for Public Service and County Administration Khalif Abdi welcomed the initiative, saying it would equip young people and entrepreneurs with knowledge 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," he said.

Representatives from the Nairobi Securities Exchange, investment firms and financial institutions also attended the forum to educate participants on the range of investment products available, as the programme seeks to expand awareness of formal investment opportunities in a region where households have traditionally relied on livestock trading and other conventional stores of wealth.

The youth who attended the forum. /STEPHEN ASTARIKO

Wajir SUPKEM chairman Adan Yunis speaking at the forum. /STEPHEN ASTARIKO