Absa Capital Aims to Start Nigeria, Kenya’s First Gold ETFs
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Absa Capital, a unit of South Africa’s Absa Group Ltd., said it may start the first gold-backed exchange-traded funds in Kenya and Nigeria.
“Absa Capital is in talks with the Nigerian Stock Exchange to potentially secondary list our NewGold exchange-traded fund,” Vladimir Nedeljkovic, the Johannesburg-based investment bank’s principal for ETFs and index products, said today. He is in Kenya to discuss starting the ETF in the East African nation.