Kenya’s first green bond was listed for trading on the Nairobi Securities Exchange on Monday, offering investors the chance to put money into an environmentally-friendly fixed income security for the first time in the bourse’s 65 year history.
Green bonds raise capital for projects in renewable energy, energy efficiency, green transport and waste-water treatment.
The bond, worth Sh4.3 billion ($42.5m), was issued by Nairobi-based property developer Acorn Holdings last October to build student accommodation.
“Our capital markets, our investors and indeed our government have started to take climate change seriously ,” said Kiprono Kittony, a member of the board of the Nairobi Securities Exchange (NSE).
“They will be listing the green bond also on the London Stock Exchange next week which is a first also to have a Kenyan shilling bond listed in the United Kingdom.”