Kurwitu Ventures Ltd, a sharia compliant investment vehicle, listed its 102,272 shares on the Growth Enterprise Market Segment (GEMS) of the Nairobi Securities Exchange. The company, which listed by way of introduction, is an industry pioneer in provision of tailor-made financial products and services that adhere to Islamic sharia law.
Managing Director Abdirahman Abdillahi said this will help existing shareholders discover the value of their stake, while setting the foundation for a broader shareholder base. “We are targeting sophisticated investors who have the capacity to interrogate the business proposition and willingness to take on this kind of risk,” he said.
Mr Andrew Wachira, acting Chief Executive of NSE said: “This is truly a milestone as we all stand as front-and-centre witnesses to the evolution of the Kenyan Islamic Finance sector.”
The company’s is valued at Ksh105 million with Ksh102 million being freehold land. KurwituVentures Ltd currently has 16 shareholders and the number will be scaled up to the minimum of 25, three months after listing as per the NSE regulations and requirements.
