NSE Grants Approval to WSA Banking ETF

For Immediate Release  ·  Nairobi, Kenya The Wall Street Africa Banking Index Exchange Traded Fund (WSA Banking ETF) has received conditional approval from the Nairobi Securities Exchange (NSE) for listing and admission to trading on the Main Investment Market Segment, clearing another major regulatory milestone toward the launch of Kenya's first locally domiciled exchange traded fund.

The Exchange granted its approval after reviewing the listing application and supporting documents, with final admission subject to completion of the remaining listing and operational requirements. This follows earlier approval by the Capital Markets Authority (CMA) through a letter dated 23 July 2026.

The WSA Banking ETF is issued by Wall Street Africa in partnership with Tradiam Asset Managers Limited as Fund Manager. The fund is designed to track the NSE Banking Sector Index, providing investors with diversified exposure to Kenya's listed banking sector through a single security.

The NSE Banking Sector Index currently comprises 12 banks: Equity Group, KCB Group, Co-operative Bank of Kenya, Absa Bank Kenya, NCBA Group, Standard Chartered Bank Kenya, Stanbic Holdings, I&M Group, Diamond Trust Bank Kenya, HF Group, BK Group and Family Bank.

Banking Leads the NSE Rally

The ETF is advancing toward listing during a strong rally in Kenyan equities, led by banking stocks. As of the close on 7 September 2026, the NSE Banking Sector Index had gained 46.73% year to date, outperforming every major NSE benchmark.

Listed banks now command KSh 1.85 trillion in market capitalisation, equivalent to about 43.5% of the NSE's KSh 4.26 trillion total market value.

Among current index constituents, I&M Group has led gains at 93.17% year to date, Diamond Trust Bank 67.69%, Co-operative Bank 59.29%, Equity Group 58.05%, BK Group 53.53% and KCB Group 49.81%.

The market performance has been accompanied by strong interim earnings, with the banks represented in the index generating KSh 160 billion in combined profit after tax in the first half of 2026, and nine recording year-on-year earnings growth. Equity Group led with KSh 45.5 billion, followed by KCB Group at KSh 36.9 billion and Co-operative Bank at KSh 18.0 billion.

Final Preparations Ahead of Listing

Wall Street Africa (WSA) and Tradiam Asset Managers (TAM) will now complete the remaining requirements before admission to trading. The NSE will confirm the listing date once all applicable requirements and conditions have been satisfactorily fulfilled.

NSE Comment

"The approval of the WSA Banking Index ETF marks a landmark moment for Kenya's capital markets and a clear signal of our ambition to build a deeper, more innovative and globally competitive investment ecosystem. Once listed, as Kenya's first locally domiciled ETF, it will expand investor choice, strengthen the connection between capital and locally listed assets, and advance our 2025–2029 strategy to broaden participation and accelerate market development. Beyond the product itself, this milestone speaks to a bigger ambition: positioning Kenya as a leading capital-markets hub for Africa, capable of developing world-class investment solutions, mobilising long-term capital and connecting investors to the growth opportunities shaping our economy and our continent."

Frank Mwiti Chief Executive Officer, Nairobi Securities Exchange

Wall Street Africa Comment

"The NSE approval represents another important step toward bringing Kenya's first locally domiciled ETF to market. Our focus now shifts to working with Tradiam, the Exchange and other market participants to complete the remaining requirements and prepare the product for trading."

Erick Asuma Co-Founder & CEO, Wall Street Africa

Fund Manager Comment

"This approval moves the WSA Banking ETF significantly closer to listing. We are now focused on completing the remaining documentation, market-making, liquidity and operational requirements necessary for admission to trading."

Eric Ruenji Founder & Chief Executive Officer, Tradiam Asset Managers

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