Stock market development is crucial in financing economic growth. In the financial sector reform process, the government has prioritized the reform of the stock market with the aim of enhancing its activities and making it a viable vehicle for financing development. Reforms targeting the stock market include tax incentives, review of the regulatory framework, review of the listing requirements, and segmentation of the market to accommodate different categories of membership.

This policy brief is based on KIPPRA Discussion Paper No. 47 on Growth of the Nairobi Stock Exchange Primary Market. Other related papers in this area include Discussion Paper No. 27 on the Development of the Nairobi Stock Exchange: A Historical Perspective, and Discussion Paper No. 29 on What Defines Liquidity of the Stock Market: Case of the Nairobi Stock Exchange.