NSE enrols Homeboyz for incubation
Tuesday, May 14, 2019 17:21
By JAMES KARIUKI
Entertainment and events management group, Homeboyz is the latest entrant into Nairobi Securities Exchange (NSE) incubation programme, Ibuka.
This is after its books were subjected to a thorough scrutiny by NSE consultants handing numerous applications from local firms seeking to go public to raise funds for expansion as well as tap fresh expertise from investors to power their growth.
The family owned enterprise founded by media personality Myke Rabar becomes the 10th enterprise.
NSE chief executive Geoffrey Odundo termed Homeboyz Entertainment Limited as a high-growth company with with a solid strategy for its growth.
“Homeboyz becomes the first entertainment the company to join the program that is hosting high growth companies in Kenya and is a testament of the company’s growth prospects and solid strategy as companies in the program have undergone a rigorous vetting and evaluation,” he said.
NSE vice chairman Bob Karina said Ibuka provided a home-grown solution to facilitate listing of local firms onto the bounce thereby giving Kenyans a chance to buy a stake in Kenyan companies.
“Since the launch of Ibuka in late last year, we have been able to enroll nine companies across various sectors in the economy.The growth of the program is a testament that as a market we are solving a pertinent issues among businesses in Kenya,” said Mr Karina.
Ibuka is an 18 months programme mooted by NSE to nurture family-owned companies and other locally owned firms to formalise their operations as well as books ahead of listing with incorporation of a board to enhance governance.
He said Ibuka will enable Kenyan companies grow their brand recognition and visibility globally providing them with a platform to access expert consultancy and advisory services that enhance corporate governance.
Homeboyz is a public relations and advertising agency boasting of six audio recording studios, two TV production facilities, an events management division, a full audio/visual rental and maintenance department, the Music Technology academy and roadshow gigs.
It also incorporates Homeboyz Radio, HBTV and Homeboyz Rugby club.
Others admitted include APT Commodities Limited (APTC), Globetrotter Agency Limited, Moad Capital Limited, Bluenile Rolling Mills Limited, Myspace Properties (K) Limited, Vehicle and Equipment Leasing Limited (VAELL), Polygon Logistics Limited,
Nile Capital Insurance Brokers E.A Limited and Nyali Capital Limited.