New guidelines to help counties raise cash from capital markets

Kenya National Chambers of Commerce and Industry (KNCCI) chairman James Mureu (right) with Capital Markets Authority CEO Paul Muthaura (centre) and Mombasa Trade executive Mohammed Ibrahim Abdi during the Capital Markets Authority Investor Education and Public Awareness Forum organised by KNCCI.

The Capital Markets Authority (CMA) has advised county governments to raise money from the public through sale of bonds to finance major infrastructure projects.

CMA acting Chief Executive Paul Muthaura said with the commencement of new CMA guidelines next month, devolved governments will be able to issue infrastructure bonds.