Kenya plans to issue its first diaspora bond for green infrastructure projects this financial year, a move that will see the country end a decade long procrastination. CMA in consultation with other stakeholders is ongoing to decide on whether the issue will be dollar-denominated or in Kenya shilling. Ombara said the diaspora green bond will be attractive to the group, as they will earn interest similar to those of domestic treasury bonds. In September, CMA granted a fund manager’s license to African Diaspora Asset Managers Limited, demonstrating the government’s urge to tap into idle diaspora funds. The fund manager offers financial products and services in asset management, unit trusts, financial investment management, financial planning, wealth management, discretionary portfolio management, property development and private equity.

Source: The Star November 03, 2020 00:56 UTC