The Nairobi Securities Exchange (NSE) in Kenya has recently joined the Hedera Council to speed up its tokenization efforts using the Hedera network. The NSE, which is celebrating its 70th anniversary this year, is the primary securities Exchange in Kenya, providing a top-notch trading platform for both local and international investors and issuers looking to tap into Africa’s economic growth.
By becoming the 32nd member of the Hedera Council, the NSE now has the opportunity to fast-track the launch of digital assets and tokenized securities on its Exchange by leveraging Hedera’s secure, transparent, and scalable technology. This move allows the NSE to run a node on the Hedera network and have equal voting power in governing Hedera’s software and services alongside other Council members.
Frank Mwiti, the CEO of the NSE, expressed excitement about joining the Hedera Council and emphasized the NSE’s commitment to introducing digital assets and tokenized securities for trading. He highlighted the importance of partnerships and collaborations in offering innovative financial products and driving industry transformation through tokenization across Africa. The NSE aims to work closely with other Council members to promote widespread adoption of tokenization and establish itself as a global leader in the space.
The NSE’s role in Kenya’s economy is significant, as it encourages savings and investments while facilitating access to capital for local and international companies. In 2024, the NSE was recognized as the best performing market in Africa for the first nine months, reflecting investors’ confidence in the Exchange. Bill Miller, Co-Chair of the Membership Committee for Hedera, praised the NSE’s expertise and market reach, noting Kenya’s potential for driving digital asset adoption and Hedera’s technology in Sub-Saharan Africa.
The Nairobi Securities Exchange is a key player in Kenya’s economic growth, offering a premier trading platform for investors and issuers seeking exposure to the country’s and Africa’s economic potential. As a founding member of the African Securities Exchanges Association and the East African Securities Exchanges Association, the NSE contributes to mobilizing domestic and global capital to support economic development. It operates under the regulatory oversight of the Capital Markets Authority of Kenya.
Hedera, governed by a council of leading institutions, is a high-performance, secure, and sustainable public DLT network that enables tokenization of real-world and digital assets with superior performance, security, and compliance. From security tokens to NFTs, Hedera provides enterprises and developers with the tools to create various asset types efficiently and drive innovation in financial markets.
In conclusion, the partnership between the Nairobi Securities Exchange and the Hedera Council represents a significant step towards advancing tokenization efforts in Kenya and Africa. By leveraging Hedera’s technology and expertise, the NSE aims to lead the way in transforming the industry and driving adoption of digital assets across the continent.
