Kenya could soon have its first art Exchange Traded Fund listed if a deal between artists and the Nairobi Securities Exchange works out. Speaking to creatives yesterday, Wabunii Sacco Chief Executive Officer, Roy Gitahi said the product ready but is awaiting approval by the Capital Markets Authority. If successful, the ETF will be second at the exchange after Barclays Bank launched and listed NewGold ETF in 2017, and the first art ETF globally. Just like NewGold ETF which enables investors to invest in the real-time value of Gold through an instrument similar to stocks, the art ETF is expected to take a similar route. “Young people are the creatives they do not have buildings, logbooks, receivable to act as collateral, but they have their art,” she said

Source: The Star March 27, 2019 21:00 UTC