RegionsAfricaBarclays launches first east Africa ETF

Barclays launches first east Africa ETF

The bank has launched the first exchange traded fund (ETF) in east Africa with the listing of the NewGold ETF on the Nairobi Securities Exchange.

Barclays Bank has launched the first exchange traded fund (ETF) in east Africa, with the listing of its NewGold ETF on the Nairobi Securities Exchange (NSE). Kenya’s Capital Markets Authority (CMA) approved the listing last month. The fund, which has had a primary listing on the Johannesburg Stock Exchange (JSE) since 2004, also has secondary listings in Botswana, Nigeria, Mauritius, Namibia and Ghana. Its initial size in Kenya will be 500m Kenyan shillings (US$4.8m), but this could be increased if demand proves strong.

The NSE has been preparing to introduce new products including derivatives, ETFs and asset-backed securities in recent years as it seeks to boost trading volumes. “NewGold ETF fits the objective of what Kenyan markets seeks to achieve, which is to boost liquidity and deepen the market,” said Michael Mgwaba, head of exchange-traded products at Barclays Africa’s Absa Capital unit.

Related Articles

The importance of local partnerships in Africa’s banking and FX landscape

Africa The importance of local partnerships in Africa’s banking and FX landscape

2w Chris Paizis
Currency illiquidity: Navigating Africa’s Markets

Africa Currency illiquidity: Navigating Africa’s Markets

4m David Bee
Investment in Africa: a volatile future?

Africa Investment in Africa: a volatile future?

1y David Bee
Payment specialists pair up to bring new remittance service to Africa

Africa Payment specialists pair up to bring new remittance service to Africa

1y The Global Treasurer
Successfully managing risk in Africa

Africa Successfully managing risk in Africa

1y Vinod Madhavan
An untapped opportunity to make UK trade a success post-Brexit

Africa An untapped opportunity to make UK trade a success post-Brexit

1y Patrick Gutmann
Fintech disruption sees digitisation take centre stage in African banking strategy

Africa Fintech disruption sees digitisation take centre stage in African banking strategy

2y GTNews
South Africa’s economic recovery ‘could be a long haul’

Africa South Africa’s economic recovery ‘could be a long haul’

2y Graham Buck

Whitepapers & Resources

Transaction Banking Survey 2019

Transaction Banking Survey 2019

2m
TIS Sanction Screening Survey Report

Payments TIS Sanction Screening Survey Report

4m
Enhancing your strategic position: Digitalization in Treasury

Payments Enhancing your strategic position: Digitalization in Treasury

6m
Netting: An Immersive Guide to Global Reconciliation

Netting: An Immersive Guide to Global Reconciliation

9m