Kenya’s capital market could play a significant role in bridging cities’ infrastructure funding gap, says a report released on Friday.
The Kenyan financing gap for housing, water, education and other social amenities is projected to continue expanding if no intervention is made in the near future, according to the 12th edition of the Capital Markets Soundness Report by the Capital Markets Authority.
The report provides a platform for the capital market regulator to share its thought focus on emerging policy issues that present a threat or provide opportunities towards the growth and development of the Kenyan capital markets industry and economy as a whole.
The findings also show that there is a need for the development of a regulatory framework upon which investments within cities will be anchored.
“Such regulation should establish the realm within which responsibilities of county governments are linked to the national government’s role especially with regard to incurring the burden of debt,” says the survey. Enditem