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Kenya: Isiolo Residents Urged to Invest in Stocks to Grow Wealth

Isiolo residents have been asked to take advantage of investment opportunities at the capital markets to grow their financial capital and contribute to the growth of the economy.

Speaking during an outreach programme aimed at sensitising potential investors in the county, Capital Markets Authority (CMA) representative Halkano Huka asked residents and traders to invest stocks so as to economically empower themselves.

He advised them to work with financial investment advisors licensed by the regulatory body in making investment decisions, especially the buying and selling of stocks and bonds in order to reduce risks and evade fraud.

“They should seek advice from professional advisors licensed by CMA in choosing the financial investment products they want,” Mr Huka appealed, adding that the authority will continue educating residents on the need to invest in capital markets.

County outreach programmes

The authority, through its Education, Awareness and Certification Department, usually undertakes county outreach programmes targeting young and potential investors.

The CMA official emphasised on the need for residents to diversify their investments by picking various products so as to enjoy high returns and minimise losses.

He also warned potential investors not to allow their financial representatives to use their accounts for their own trading.

“Ensure you get all transaction documents such as receipts, purchase and sales contracts and transaction statements and take full responsibility of your trading account,” he said when speaking on Angaaf Radio.

Mr Huka said developing a skilled talent pool for capital markets is critical in ensuring the country attracts local investments.

CMA is charged with supervising, licensing and monitoring activities in the capital market, which is an exchange system that moves capital from investors to finance various projects or businesses in order to ensure the economy grows and functions effectively.