Vehicle and Equipment Leasing Limited (Vaell) has become the sixth enterprise to so far be admitted into the Nairobi Securities Exchange (NSE) premium incubation programme, Ibuka.
The admission follows a demanding evaluation and vetting process conducted by NSE and according to the securities exchange Chief Executive Officer (CEO) Geoffrey Odundo, the admission of Vaell into the Ibuka program is a harbinger of the leasing company’s potential listing on the Nairobi Securities Exchange.
“This enrolment is a key milestone and will commence the company’s prospective listing and growth journey. The programme will prepare Vaell as it launches its next phase of growth across its various business segments and markets,” Mr. Odundo said during the admission ceremony.
On her part, the leasing company’s local Managing Director Bertha Mvati lauded the move which will increase the leasing company’s brand visibility.
“We are pleased to have been admitted to the NSE incubation and Acceleration program as we gear ourselves up to list shares on the NSE. Vaell hosting on Ibuka will increase the company’s visibility in the Kenyan market as well as broaden the company’s access to capital options in order to fund the company’s future growth initiatives,” Ms. Mvati explained.
The Ibuka programme is aimed at growing brand visibility whilst augmenting brand recognition and business opportunities among hosted companies. The programme similarly gives admitted companies entrance into capital markets while guiding them to durable commercial sustainability.
Vaell is a leader in asset leasing, maintenance and consulting in East and Central Africa. It was established in 2006 and it also provides bespoke leasing services across various markets in Africa with fully fledged subsidiaries in Kenya, where headquarters are located, Uganda, Rwanda, Tanzania and Zambia.