The Financial Securities Exchange (FINSEC) has launched the full implementation of the Growth Enterprises Market (GEM) platform which will enable small and medium enterprises to raise capital.
FINSEC utilises its infrastructure to coordinate efforts by SMEs, financiers; development partners and policy makers.
Last year, FINSEC, in partnership with the United Nations Capital Development Fund (UNCDF), unveiled a pioneering online funding platform designed to assist growth enterprises including small and medium enterprises (SMEs) in accessing diversified capital raising options through the use of securities market infrastructure.
FINSEC and its development partners under the banner of UNCDF undertook a feasibility study and a pilot programme that commenced in January 2020.
The feasibility study and pilot programme resulted in fine tuning of the GEM Portal platform based on feedback from targeted SMEs and other market participants.
The outcome of the feasibility and pilot paved way for the full implementation of the platform.
The GEM Portal enables enterprises to apply for funding and possible listing online.