The Kenyan stock exchange is planning to unveil a segment for small and midsize enterprises (SMEs) in 2012, Reuters reports. As per the proposal, firms looking to list will be required to nominate advisers who will serve as a link with the market, offering advice and ensuring transparency rules such as quarterly reporting are followed.

Regulators expect the new segment to be beneficial for firms and investors as the SME sector offers faster rates of growth than that of mature companies. The SME sector is projected to account for 80% of jobs in the private sector and contribute about 40% to the east African economy.

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