Wall Street Africa Banking ETF Gets Regulatory Approval in Kenya

Kenya’s capital markets are set for a historic development following regulatory approval of the Wall Street Africa Banking Exchange Traded Fund (WSA Banking ETF),  which is expected to become the country’s first locally domiciled Exchange Traded Fund (ETF).

The Capital Markets Authority (CMA)  has approved the WSA Banking ETF, subject to approval by the Nairobi Securities Exchange (NSE) for admission to the Main Investment Market Segment (MIMS) and completion of the remaining pre-listing requirements.

The ETF is being issued by Wall Street Africa (WSA) in partnership with Tradiam Asset Managers, which will serve as the Fund Manager. It will track the performance of Kenya’s listed banking sector, giving investors a simple, transparent and cost-effective way to gain diversified exposure to one of the NSE’s most liquid and consistently performing sectors through a single listed security.

The WSA Banking ETF will be the first ETF created and domiciled in Kenya. The only ETFs currently listed on the NSE are South African funds tracking gold and developed-market equities.

The introduction of the fund is expected to broaden access to Kenya’s banking sector for both retail and institutional investors while contributing to the development of the country’s investment ecosystem.

The approval comes amid strong momentum in Kenyan equities. As of the end of June 2026, the NSE had risen 33% year-to-date, ranking fourth among the world’s best-performing markets behind South Korea, Nigeria and Japan. The exchange recently crossed KSh4 trillion in total valuation for the first time, less than nine months after surpassing KSh3 trillion, driven largely by Safaricom and listed banks.

As of July 2026, the NSE Banking Index had delivered a 30.9% return for the year, outperforming bonds, the NSE 10, NSE 20, NSE 25 and the Nairobi All Share Index. Kenya’s banking sector has also received international recognition, with KCB Group, Equity Bank and Co-operative Bank ranked among Africa’s top 25 banks by Tier 1 capital in the latest The Banker Top 1,000 World Banks rankings.

“The banking sector has consistently been one of the best-performing segments of the Exchange and ranked among the world’s best performing in terms of return on investment. The WSA Banking ETF gives both local and international investors a simple, transparent and cost-effective way to participate in that growth story.”

– Erick Asuma, Co-Founder & CEO, Wall Street Africa Inc

Eric Ruenji, Founder, Tradiam Asset Managers, said the fund manager was now focused on completing the remaining requirements ahead of the anticipated launch.

“We are delighted to have received the necessary regulatory approvals and appreciate the confidence shown by both the Capital Markets Authority and the Nairobi Securities Exchange. Our focus is now on completing the remaining operational and listing requirements ahead of the anticipated launch in Q4 of 2026. We believe the WSA Banking ETF will provide investors with an efficient vehicle to access one of Kenya’s strongest and most liquid sectors.”

– Eric Ruenji, Founder, Tradiam Asset Managers

Wyckliffe Shamiah, Chief Executive Officer of the Capital Markets Authority, described the approval as an important development for Kenya’s capital markets.

“The approval of the WSA Banking ETF marks an important milestone in the continued development of Kenya’s capital markets. As the first locally domiciled exchange-traded fund, the product will broaden the range of regulated investment options available to investors, enhance product diversity and provide an efficient channel for diversified participation in the listed banking sector. The Authority remains committed to supporting responsible market innovation while maintaining robust standards of investor protection, transparency and regulatory compliance.”

– Wyckliffe Shamiah, Chief Executive Officer, Capital Markets Authority

The strength of the banking sector has been broad-based. Since its launch in October 2025, the NSE Banking Sector Index has gained 62%, with most listed lenders recording significant gains.

The WSA Banking ETF is expected to list on the NSE’s Main Investment Market Segment in Q4 2026, subject to completion of the remaining regulatory and operational requirements. A final Information Memorandum, subscription timetable and listing details will be released ahead of the listing.