Kenya to float green bonds to boost foreign investment
Staff Writer | March 9, 2017
Kenya plans to float green bonds in order to boost Foreign Direct Investment (FDI), the capital market regulator said.Article continues below
Capital Markets Authority (CMA) CEO Paul Muthaura told a media briefing in Nairobi that there is currently a lot of interest among global fund managers on investing in capital markets that offer green bonds.
"We therefore want to position Kenya as a regional hub of green bonds so that it benefit from funds that invest in sustainable business causes," Muthaura said.
The East African nation is currently putting in place guidelines that will define what constitutes a green bond.
The legal framework will be a joint effort of the Kenya Bankers Association as well as the Nairobi Security Exchange.
The CEO said that the green bond will enable Kenya to meet some of its international commitments on reducing green house gas emissions. ■ What to read next
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