Kenya Bankers Association claims the nation will launch a green bond in 2019

By professo

According to the Kenyan Bankers Association (KBA), the banks across the nation plan to issue a green bond by the end of 2019.

The sector lobby’s Chief Executive Officer, Habil Olaka, revealed the news during Remu Microfinance Bank’s rebranding to become Key Microfiannce Bank.

The country is on course to issuing the bond, with sustainability being a key factor for economic development, Xinhua reported.

“Looking at the environmental, social and financial needs of both the country and the banking sector there is no better instrument to achieve sustainability like the green bond,” stated Olaka.

SEE ALSO:

When issued, the green bond will be floated on the Nairobi Stock Exchange as part of Kenya’s Sustainable Finance initiative.

The bankers’ lobby claims that there are currently three initiatives working to develop the bond.

“Each of the initiatives has an equal chance of producing Kenya’s first green bond,” the CEO continued.

According to KBA’s CEO, the size of the bond will be attributed to how much green investment is sourced.

The bond’s proceeds will fund the acquisition of green assets used to aid Kenya’s climate change programmes and projects.

Kenya’s government will launch tax incentives to support the green bond.

Share

Featured Articles

Middle East GDP hike of 57% if more women join workforce

By tapping into the potential of next-generation female workers, the MENA region could unlock new economic opportunities, up to US$2 trillion, reports PwC

Dialight supplies LED solutions for industrial safety

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Tech, AI, cloud, cyber speakers at TECH LIVE LONDON

TECH LIVE LONDON events sees technology leaders from IBM, Oracle, Vodafone, JP Morgan, Accenture and the US Space Force among the inspirational speakers

Cyber LIVE adds Vodafone head of cyber Kawalec to line-up

Leadership & Strategy

Musk’s multibillion hostile Twitter takeover – the timeline

Leadership & Strategy

Sustainable moves businesses can make to win customers, IBM

Sustainability