Kenya’s first green bond starts tradingUK Secretary of State for International Development Alok Sharma (second left) and NSE Chief Executive Geoffrey Odundo (left) lead the bell ringing ceremony to mark the start of trading the bond. This is after East Africa’s premier Sh4.3 billion green bond started trading at the Nairobi Securities Exchange (NSE) yesterday.The five-year bond, issued by real-estate developer Acorn, will be listed in three tranches, with the newly listed first tranche floated at Sh786 million. The green bond market globally has grown tremendously with issuances totalling $155.5 billion (Sh16 trillion) in 2017 and an estimated $250-$300 billion (Sh25.7-31 trillion) in 2018. SEE ALSO :Cutting it in the jewelry businessKenya launched its green energy programme in 2017, with the government initially setting the 2018/2019 financial year for the first publicly traded green energy bond. SEE ALSO :Floods: Change tack in disaster response“We think the green bond is going to create a new interest in the market,” said Mr Oundo.

Source: Standard Digital January 14, 2020 05:03 UTC