President Ruto: Don't confuse stock theft with stock exchange

President William Ruto during the launch of the Ziidi Trader app /PCS

President William Ruto has urged Kenyans to embrace capital markets, saying wealth creation should no longer be a preserve for a few elites.

Speaking during the launch of Safaricom’s M-Pesa Ziidi Trader platform at the Nairobi Securities Exchange (NSE), Ruto recalled how he, in the past, confronted cases of stock theft.

 “I remember telling these citizens, do not confuse stock theft with stock exchange. They are very different, while you are engaged in stock theft, there are people engaged in the stock exchange, trading and buying shares and creating wealth,” Ruto said.

The President said at the time, wanted ordinary Kenyans to abandon illegal activities and participate in formal wealth creation but no accessible mechanisms existed.

President William Ruto, Treasury CS Chris Kiptoo and NSE chairman Kiprono Kitony during the launch of Ziidi Trader app /PCS

“But along the way, I asked myself, how is this person going to stop stock theft and participate in the stock exchange if there are no mechanisms for him to do that?” he said.

Ruto said the launch of Ziidi Trader, which allows Kenyans to buy shares directly through MPesa, removes that barrier and opens the capital markets to millions previously excluded.

He challenged mama mboga traders and boda boda riders to take advantage of the platform to invest in listed companies such as the Kenya Pipeline Company once opportunities arise, saying small but consistent investments could transform livelihoods over time.

President William Ruto during the launch of Safaricom's Ziidi Trader /PCS

“Wealth creation should not be a preserve for the few. It must be an opportunity expanded enough for all to participate,” Ruto said.

He also emphasised his administration’s commitment to capital markets, saying this is the fifth time he has attended an event at the NSE in the past three years.

“This is not by accident. It is not because I have nothing to do. I am not loitering around here. It is because I believe in the capital markets and their potential to work with the public sector to unlock the potential of this great nation,” Ruto said.

Ziidi Trader is expected to deepen retail investor participation by leveraging mobile money, aligning with the government’s broader agenda of inclusive economic growth and financial empowerment.