New Kenya Bond Exchange Sees Opportunity in Budding Debt Market
- Exchange to complete its capital raising in the first quarter
- EABX will compete with existing Nairobi Securities Exchange
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The new East African Bond Exchange, a would-be competitor for the Nairobi Securities Exchange, sees the prospect for exponential growth in Kenya’s bond market as it prepares to start operating in the first half of this year.
While Kenya has the third-biggest economy in sub-Saharan Africa, the value of corporate debt issued is barely 0.2% of its gross domestic product, compared with an average of 20% to 30% of GDP in Asian nations, according to Terrence Adembesa, chief executive officer of EABX.