This archive report was first published on 13 January 2020.
On January 13, 2020, Acorn Holdings made history by listing its Ksh4.3 billion green bond on the Nairobi Securities Exchange, becoming the first green bond to list in East and Central Africa.
The listing by introduction means that there will be no issuance of new shares or additional funds raised.
Acorn Green Bond was subscribed to 85% and raised KSh4.3Bn, with the funds intended to finance the construction of environmentally friendly and affordable accommodation for approximately 5000 university students.
According to a report by Strategic Business Advisory in partnership with Kenya Bankers Association, Kenya is expected to have a demand for climate-friendly bonds amounting to Sh91 billion in the next five to ten years.
