Kenya’s first locally domiciled ETF get securities exchange approval
Wall Street Africa (WSA) has received conditional approval from the Nairobi Securities Exchange (NSE) to list its banking exchange-traded fund (ETF) on its Main Investment Market Segment.
Nairobi Securities Exchange (NSE) has granted conditional approval for Wall Street Africa (WSA) to list its banking exchange-traded fund (ETF) on the Main Investment Market Segment. This marks the country's first locally domiciled ETF. Kenya's banking stocks have been driving the stock-market rally, with NSE closing at KES 4.28 trillion ($33 billion) valuation.
WSA is partnering with Tradiam Asset Managers, who will oversee the ETF's operations. The ETF will track the NSE Banking Sector Index, currently covering 12 banks. WSA is aiming to secure $50 million in seed commitments, but regulatory requirements demand a minimum of KES 1 billion ($7.7 million) to purchase underlying bank stocks. The ETF is expected to launch in Q4 2026, though earlier completion is possible.
Written by urgent.news from TechCabal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
