Why does Nairobi stock exchange has slow growth in companies listing?

The Nairobi Stock Exchange (NSE) experiences slow growth in company listings due to several factors, including regulatory challenges, high listing costs, and a lack of awareness among potential companies about the benefits of going public. Additionally, economic uncertainties and a preference for alternative funding sources, such as private equity and bank loans, can deter companies from pursuing an initial public offering (IPO). Furthermore, the perceived volatility of the market may make companies hesitant to enter the exchange.