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Kenyans have given the capital markets a wide berth as a result of high transaction fees, low market awareness and a myriad of regulatory red tape.
A survey conducted by the Institute of Certified Investment and Financial Analysts (Icifa) on the challenges that retail investors face in Kenya's financial market also found the regulatory red tape and inadequate capital as major deterrents to investing.
"Out of the more than 15,000 respondents, 70 per cent proposed a raft of measures to restore confidence in the capital markets which include the introduction of more products, borrowing and lending of securities to retail investors, investor education, promoting ethics within financial services, and better enforcement by the industry regulators," said Icifa Chief Executive Diana Muriuki during the report's launch in Nairobi last week.
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