Gold ETFs for Kenyan bourse

MONEYWEBBarclays Africa Group is preparing to list its NewGold ETF on the Nairobi Securities Exchange after receiving regulatory approval to begin trading the securities.“We expect the listing to take place early this year,’’ Michael Mgwaba, head of exchange traded products at Johannesburg-based Barclays Africa’s Absa Capital unit, said in an e-mailed response to questions. Kenya’s Capital Markets Authority approved the listing last week.The ETF, which has a primary listing on the Johannesburg Stock Exchange, already has secondary listings in Botswana, Nigeria, Mauritius, Namibia and Ghana. The Kenyan regulator approved the listing of 400 000 gold bullion debentures, each equivalent to 0.01 of an ounce of gold.The Nairobi Securities Exchange has been preparing to introduce new products including derivatives, ETFs and asset-backed securities since at least 2013 as it seeks to boost trading volumes. The volume of shares traded on the Nairobi Securities Exchange declined to 5.81 billion last year, compared with 8.11 billion in 2014, according to data compiled by Bloomberg. At the same time, the exchange’s market capitalization shrank to $18.7 billion by the end of December, the lowest since 2012.“NewGold ETF fits the objective of what Kenyan markets seek to achieve, which is to boost liquidity and deepen the market,” Mgwaba said.

Gold ETFs for Kenyan bourse

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Namibian Sun 2025-05-22

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Gold ETFs for Kenyan bourse

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Namibian Sun 2025-05-22

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