Kenya's First-ever ETF Opens For Trading On The Bourse

Published
Investors within Kenya and indeed, the wider East African region now have an opportunity to trade in ETFs. This follows the launch and listing of the Barclays NewGold ETF on the Nairobi Securities Exchange. The NewGold ETF which is also listed on the Johannesburg Stock Exchange enables investors to invest in an instrument which tracks the price of Gold Bullion. It will trade in the same manner as a normal equity security and will be subject to similar tax treatment and will be Kenya Shillings denominated. The NewGold ETF price will be based on the KES equivalent of the prevailing international market price of gold. Kenya becomes the 7th market within the Barclays Africa Group to launch this proposition valued at approximately $1.4Billion.
Category
Kenya