Mombasa based Myspace properties has been accepted into NSE’s Ibuka incubation program, becoming the first real estate company to successfully go through the process which involves rigorous evaluation and vetting. MySpace is the fourh company to be accepted into the program.
“I am delighted that we have admitted the first property company onto the Ibuka Program. This is a good opportunity for the organization and it is yet to open more doors placing Myspace properties limited in a good place,” said NSE CEO George Odundo.
He said the Ibuka program will boost the growth and accelerate the expansion of Myspace properties into a regional real estate company in Kenya enabling it to take advantage of the growing property market. The program is designed for compabies aspiring to list at the bourse.
‘It is aimed at inculcating improved corporation, developing companies’ capabilities to access capital markets as well as providing a roadmap to long-term corporate sustainability.’
MySpace properties is engaged in property development, sale and management, project financing and marketing not only in Kenya, but also internationally. The company’s CEO was optimistic the Ibuka program will add more fuel to the company in its next phase of growth.
Late last year, Mwendwa Thuranira who is the CEO of My Space Properties, received international recognition after getting nominated for Manager of The Year and Best Regional Enterprise for Professional achievements in commercial activities, concurrently by the Oxford Summit of Leaders.
Other firms who have already joined NSE’s Ibuka program include ATP Commodities, Moad Capital, Globetrotter Agencies. The NSE rolled out the program in a move to end the lack of listings at the bourse by taking small and medium-sized companies through a 10-month incubation.