Satrix, South Africa’s leading provider of index-tracking solutions, will list its MSCI World Feeder ETF on the Nairobi Securities Exchange (NSE) on Wednesday, July 16, 2025.
This listing marks Kenya’s first equity-based exchange-traded fund (ETF) and only its second ETF overall, following Absa’s NewGold ETF launched in 2017.
The ETF, valued at R18.2 billion (approximately $1.1 billion), tracks the MSCI World Index via BlackRock’s iShares Core MSCI World UCITS ETF.
It offers Kenyan investors low-cost access to 1,398 of the world’s largest companies across 23 developed markets, including Apple (4.59%), Microsoft (4.48%), Nvidia (4.16%), Amazon (2.70%), and Meta (1.96%). The fund is hedged in Kenyan shillings (KES) with a total expense ratio (TER) of 0.35%.
“Satrix is bringing world-class investment solutions to Kenya,” said Yusuf Wadee, Head of Exchange Traded Products at Satrix.
“Investing in this ETF is as straightforward as buying a local stock like Safaricom, yet it delivers global diversification and exposure to the dollar’s strength.”
Why Nairobi?
Kenya’s investment landscape, dominated by mutual funds and unit trusts, mirrors South Africa’s market before ETFs gained traction.
“ETFs have made investing more affordable and accessible in South Africa, and Kenya is poised for the same transformation,” Wadee noted.
Satrix, managing R240 billion in assets with a 38% share of South Africa’s ETF market, has already expanded to Namibia and is targeting further African exchanges.
Building Liquidity and Awareness
Kenya’s sole existing ETF, Absa’s NewGold, has faced liquidity challenges. Wadee acknowledged that ETF success requires time, education, and market development.
“Liquidity and education are interconnected,” he said. “We’re collaborating with the Capital Markets Authority (CMA) and NSE to foster a robust ETF ecosystem.”
Satrix has launched educational campaigns and engaged local fund managers to drive adoption among retail investors, asset managers, pension schemes, and institutions seeking global equity exposure.
Strategic Fit for the NSE
The listing aligns with the NSE’s strategy to attract new listings and deepen Kenya’s capital markets. The ETF offers investors a tool to hedge against shilling volatility while building diversified portfolios with exposure to global equities.
“This ETF provides access to the world’s top companies and mitigates currency risk,” Wadee said. “It’s a versatile, globally aligned building block for any portfolio.”
Global ETF Trends for 2025
The exchange-traded fund (ETF) industry is experiencing unprecedented growth and transformation in 2025, driven by innovation, shifting investor preferences, and favourable market conditions.
- Global ETF assets under management (AUM) reached $15.44 trillion by April 2025, with record-breaking net inflows of $620.54 billion in the first four months alone, surpassing previous years’ year-to-date figures.
- The U.S. remains the largest market, with AUM exceeding $10 trillion, while Europe’s ETF market grew faster in 2024, approaching $2.3 trillion, driven by retail adoption through online savings platforms, according to EY.
