The Capital Markets Authority (CMA) has launched a two-day financial literacy programme in Wajir County aimed at equipping youth, professionals and business people with knowledge on investment opportunities available in Kenya’s capital markets.
The initiative, which seeks to promote financial inclusion and broaden public participation in regulated investment products, brought together about 100 young people from across the county on the first day. Professionals and members of the business community are expected to undergo similar training on the second day.
Speaking during the opening session in Wajir, CMA Chairman Ugas Sheikh Mohammed said the programme is part of the Authority’s nationwide campaign to increase awareness of investment opportunities while encouraging Kenyans to diversify their wealth creation strategies.
Mohammed said the Authority was collaborating with market intermediaries and financial institutions to provide participants with practical information on investment products, including stocks, money market funds, equities and Sukuk, enabling residents to make informed financial decisions.
He said institutions such as the Nairobi Securities Exchange (NSE), ZD Trader Platform, Avocap, Standard Investment Bank (SIB) and Absa Bank were participating in the programme by providing investment information, demonstrations and services to residents interested in joining the capital markets.
Mohammed observed that many residents in northern Kenya traditionally invest in livestock, land and other physical assets, which have long served as reliable stores of wealth. However, he noted that changing economic conditions and increasing climate-related risks underscore the importance of diversifying investments through regulated financial products.
“We are exposing this community to investment opportunities available in the national and global markets so that they can also participate in wealth creation,” he said.
The CMA Chairman encouraged young people to cultivate a culture of saving and investing, noting that wealth creation is a gradual process that requires financial discipline, patience and consistency. He urged participants to begin investing early, regardless of the amount, and to build long-term financial security through regular savings.
Recognising the predominantly Muslim population in Wajir, Mohammed said the Authority was also creating awareness on Sharia-compliant investment products to ensure residents have access to financial solutions that align with their religious beliefs.
He said many participants had sought clarification on whether available investment products complied with Islamic financial principles, adding that financial sector regulators were working towards developing a national policy framework on Sharia-compliant finance.
According to Mohammed, the proposed framework will enhance financial inclusion by expanding access to ethical investment alternatives for Muslims and other investors seeking Sharia-compliant financial products.
He commended the government’s efforts to promote inclusion in historically marginalised regions, saying improved financial literacy would enable more Kenyans to participate meaningfully in wealth creation, entrepreneurship and national economic development.
Wajir County Executive Committee Member (CECM) for the Office of the Governor and Public Service Khalif Abdi welcomed the initiative, describing financial literacy as an important tool for economic empowerment.
He said the training would help residents understand modern investment opportunities and improve financial management while reducing overreliance on traditional forms of wealth such as livestock, which remain vulnerable to drought and other climate-related shocks.
Abdi encouraged participants to apply the knowledge gained during the training by investing through regulated platforms and making informed financial decisions that would strengthen household incomes and long-term financial resilience.
He thanked the national government and the CMA for extending financial literacy programmes to Wajir, noting that the county continues to benefit from national development initiatives aimed at promoting inclusion and economic growth.
Wajir County Executive Committee Member for Lands, Public Works, Housing and Urban Development Ahmed Wardere also commended the Authority for organising the training, saying the programme would expose residents to new opportunities for wealth creation.
Wardere urged participants, particularly young people, to embrace entrepreneurship, innovation and investment as viable pathways to economic advancement amid shrinking formal employment opportunities.
He said financial literacy, combined with access to regulated investment opportunities, is essential for sustainable wealth creation and pledged the county government’s support in creating an enabling environment for business growth and investment.
The workshop forms part of the Capital Markets Authority’s nationwide campaign to deepen participation in Kenya’s capital markets by increasing public awareness of regulated investment opportunities and strengthening financial inclusion across the country.
By Hamdi Buthul
