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CMA conducts financial literacy campaign in Nyeri

28 November 2013, 14:24 Joseph Njung'eh

Nyeri - The Capital Markets Authority (CMA) on Thursday opened a three-day workshop at Whispers Park in Nyeri town.

According to Kamunyu Njoroge, an Investment Education and Public Awareness Manager in CMA, the initiative is aimed at educating investors and businessmen within Nyeri County on financial literacy.

Njoroge said that they will inform participants on shares business and how to invest in the capital markets industry.

“The initiative is geared towards enhancing financial literacy and in particular ensuring that the investing public in Nyeri appreciates the various investment opportunities, the risks and rewards associated with investment in the Capital Markets industry,” Njoroge said.

He noted that the activity is part of the outreach program taking place countrywide in a bid to reach out to all people at the grassroots.  

In an interview with media, Njoroge said the initiative is in partnership with the national Government and that the Company is taking full advantage of devolution.

“We intend to create awareness on the rights and responsibilities of investors and the roles of various market players,” he added.

He urged members of the public to invest in shares, bonds and unit trusts saying business in capital markets is a long term investment compared to other ventures.

It would be wise, according to Njoroge, to invest in capital markets industry as shares are just taxed five percent while businesses and other ventures are taxed 30 percent.

He cautioned shareholders against making conclusions regarding the performance of companys' unit shares but urged them to give companies time to improve.

The manager said CMA is carrying out a campaign to rule out a belief that the shares industry is preserved for the wealthy people but said one can purchase shares with as low as KES 500.

The event was organised in conjunction with Nairobi Stock Exchange (NSE), Central Depository and Settlement Corporation (CDSC) and other eight major stock brokers in the country.

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