FTSE has partnered with the Nairobi Securities Exchange to develop indices for Kenya, which could precipitate the introduction of ETFs to the market.
Local regulations do not currently allow ETFs to be listed there but a change in regulations - expected imminently - could see the first ETFs listed in Nairobi as soon as the second quarter of 2012, according to Jonathan Cooper, managing director, FTSE Middle East and Africa. Existing indices for the market are not suitable for financial products; the FTSE NSE Kenya 25 Index and FTSE NSE 15 Index are designed to be tradable and FTSE has had interest from companies looking to create ETFs based on the indices. "I've had a number of conversations with people here who - regulation aside -...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
