Nairobi Securities Exchange Plans East Africa's First AI ETF

The Nairobi Securities Exchange is developing the first exchange-traded fund (ETF) in East Africa focused on artificial intelligence stocks, with a target launch by the end of 2026. CEO Frank Mwiti stated that the fund intends to give local investors, especially young people, direct exposure to companies including Microsoft, Anthropic, and OpenAI. To protect investors from foreign exchange risks, the exchange plans to denominate the ETF in Kenyan shillings.

The exchange is currently consulting with market regulators on the proposal. However, the launch may be delayed if global volatility indicates an AI market bubble. Beyond the AI fund, the exchange is also considering a cryptocurrency ETF featuring Bitcoin, Ethereum, and Solana for a potential release next year, contingent on the passage of virtual asset legislation in Kenya.