President William Ruto on Tuesday attended the bell ringing launch of the enhanced Nairobi Securities Exchange at Market Place, Nairobi County.
Speaking During the event, the President said he had attended the function deliberately to ring the bell and not to trade.
Ringing the bell is a phrase used in the stock exchange market to describe the opening of a given market.
The president said he is banking on the Nairobi Stock Exchange to raise resources and capital that will help better the lives of Kenyans.
"My coming here is not because I don't have anything to do. I came here deliberately. I believe the stock market has the potential to do a couple of thing. I have come here to ring the bell not for trading. It is is time to unlock the potential that exists in this institution to drive the economy of this country," Ruto said.
"There is demonstrable evidence that in the stock market, there is potential for us to raise the resources that we are today struggling to raise through debt instruments in foreign capitals and multilateral institutions."
The president said the NSE has the potential to help Kenya raise the development capital, through the ball markets and through listing of public owned companies.
"I look forward to many Kenyans having opportunity to raise wealth through the Nairobi Stock Exchange. I look forward to that boda boda guy instead of waiting for the next customer doing betting, he should be trading at the Nairobi Stock Exchange."
The Nairobi Securities Exchange was established in 1954 as the Nairobi Stock Exchange, based in Nairobi the capital of Kenya.
It was a voluntary association of stockbrokers in the European community registered under the Societies Act in British Kenya