Trading of Kenya’s first green bond starts at NSENSE Chief Executive Officer Geoffery OdundoInvestors keen on Eco-friendly projects now have a platform to raise money after East Africa’s premier Sh 4.3 billion green bond started trading Monday at the Nairobi Securities Exchange (NSE).The 5-year bond, issued by real-estate developer Acorn, will be listed in three tranches with the newly listed first tranche floated at Sh786 million. Green bonds seek to raise capital for sustainable projects, for example, in renewable energy, Eco-friendly transport, energy efficiency, and wastewater treatment. Acorn Housing has since 2015 being developing accommodation units for students and is the developer of Qwetu residences. “We think the green bond is going to create a new interest in the market,” said Odundo. Before the listing, Acorn was looking to raise a minimum of Sh2 billion and a maximum of Sh5 billion.

Source: Standard Digital January 13, 2020 09:33 UTC