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“The Nairobi Securities Exchange (NSEASI), Africa’s third-best performing bourse this year, will begin offering exchange-traded funds, the Capital Markets Authority said. The funds will be offered ‘in an effort to increase the scope of capital market products available in Kenya,’ the Nairobi-based regulator said in an e-mailed statement today. The NSE All-Share Index rallied 23 percent this year. Ghana, Africa’s best performer, gained 47 percent. The Kenyan funds will target individual investors seeking an affordable way to buy into a diverse number of assets, Paul Muthaura, acting chief executive officer of the regulator, said in the statement.”

http://www.bloomberg.com/news/2013-07-08/kenya-to-introduce-exchange-traded-funds-market-regulator-says.html