Nairobi Securities Exchange Joins Hedera Council to Accelerate Tokenization Initiatives in Africa

Kenya's main securities exchange, the Nairobi Securities Exchange (NSE), has joined the Hedera Council to accelerate tokenization initiatives using the Hedera network.

Kenya's main stock exchange, the Nairobi Securities Exchange (NSE), has joined the Hedera Council to accelerate tokenization initiatives using the Hedera network.

The NSE will become the 32nd member of the Hedera Governing Council, which includes Google, IBM, and Deutsche Telekom. As a council member, the NSE will run a node and have equal voting power in governing Hedera's software and services.

The council's decision to admit the NSE will expedite the launch and uptake of digital assets and the tokenization of securities on the exchange, according to NSE CEO Frank Mwiti.

“This initiative aligns with our new strategic priority of offering a world-class market infrastructure anchored on diverse and innovative financial products leveraging partnerships and collaborations. Tokenization has the potential to transform industries across Africa, and the NSE is committed to driving this innovation through the Hedera network, which is valued for its unmatched performance, security, and compliance standards,” said Mwiti.

His organization will work closely with other council members to drive digital asset tokenization across Africa and establish the NSE as an industry leader in the space, he added.

The NSE is a crucial driver of Kenya's economy, facilitating savings, investments, and capital access for local and international businesses, the statement said. Its strong performance is recognized by the Morgan Stanley Capital International (MSCI) indices.

Bill Miller, co-chair of the Membership Committee for Hedera, welcomed the NSE's addition to the council, saying it will provide access to the Kenyan bourse's connections and expertise. Miller said the NSE's membership could accelerate the adoption of Hedera technology.

“Kenya presents a significant opportunity for driving the adoption of digital assets and Hedera's technology,” said Miller. “The NSE's diverse reach provides an excellent foundation for Hedera to underpin global capital markets with a market capitalization of approximately $12.65 billion, daily transaction volumes exceeding $100 million, and 63 listed companies and securities across 11 sectors.”