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First ETF lists on Nairobi Stock Exchange


The Nairobi Stock Exchange now has its first exchange traded fund with the listing of the NewGold ETF.

The ETF, a cross listing of a fund that first launched on the Johannesburg Stock Exchange back in 2004 and is also available in five other African countries including Botswana and Ghana, was approved by Kenya’s Capital Markets Authority (CMA) last month.
NewGold Issuer (RF) Limited, an affiliate of Barclays, has issued listed 400,000 Gold Bullion Debentures on the Nairobi Securities Exchange (NSE) main investment market segment.
The NewGold ETF gives Kenyan institutional and retail investors access to the spot price of gold.
“This is a critical milestone in positioning Kenya as a gateway for regional and international capital flows by developing creative products that promote investor confidence in regional products. This is a step toward Kenya becoming a choice investment destination,” says CMA chief executive Paul Muthaura.

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