Kenya: Green Bonds will Raise Capital for Geothermal Power Projects

Kenya Plans Debut Green Bond to Fund Renewable Energy Projects (Renewable Energy World)

(Courtesy CIA.gov)

Kenya, East Africa’s biggest economy, is in talks with international investors to prepare the sale of the country’s first green bond, Nairobi Securities Exchange Chief Executive Officer Geoffrey Odundo said.

Discussions are focused on drafting the regulations needed to trade the securities on the domestic exchange, which may be sold as early as next year, Odundo said in an interview Friday in the capital, Nairobi. The bourse is also learning from experience in South Africa, where the city of Johannesburg in 2014 became the continent’s first seller of the debt, he said.

“We do expect to see the energy space as the immediate issuers of these instruments,” Odundo said. “Discussions are ongoing with various stakeholders, more so the geothermal sector and international investors, to see how we can match them.”

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