Kenya Green Bond Programme

The Kenya Green Bond Programme (2017-2021) focused on developing the green bond market in Kenya through policy reform, capacity building, and the creation of supportive regulatory frameworks. Key outcomes include the development of NSE Green Bond Listing Rules, the passage of tax incentives by parliament, and the mobilization of GBP 64.95 million in private finance for climate purposes, including Kenya's first green bond. The programme also trained over 20,000 bank employees via e-learning and provided training to 16 Kenyan verifiers.

• The programme achieved several regulatory and policy milestones, including the creation of the Capital Market Authority (CMA) Guidelines on green bonds and the Nairobi Securities Exchange (NSE) Green Bond Listing Rules, as well as the passage of tax incentives for green bonds by the Kenyan parliament.
• The initiative mobilised GBP 64.95 million in private finance for climate change purposes, supporting three specific transactions: two green bond issuances and one green Real Estate Investment Trust (REIT). This included the first green bond issued in Kenya, which was listed on the NSE and cross-listed on the London Stock Exchange.
• Capacity building efforts included training 16 Kenyan verifiers through three programmes and training over 20,000 bank employees via e-learning modules on the Sustainable Finance Initiative (SFI) platform, covering risk management, governance, and green economy investment opportunities.

APA

FSD Africa (2022). Kenya Green Bond Programme. https://fsdafrica.org/wp-content/uploads/2025/05/Capital-Markets-Kenya-Green-Bond-Programme-Reviewed-JG.pdf

Chicago

FSD Africa. Kenya Green Bond Programme. 2022. https://fsdafrica.org/wp-content/uploads/2025/05/Capital-Markets-Kenya-Green-Bond-Programme-Reviewed-JG.pdf.

Wikipedia

{{cite report |author=FSD Africa |title=Kenya Green Bond Programme |date=October 2022 |url=https://fsdafrica.org/wp-content/uploads/2025/05/Capital-Markets-Kenya-Green-Bond-Programme-Reviewed-JG.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{fsdafrica2022kenya, author = {{FSD Africa}}, title = {{Kenya Green Bond Programme}}, institution = {FSD Africa}, year = {2022}, month = oct, url = {https://fsdafrica.org/wp-content/uploads/2025/05/Capital-Markets-Kenya-Green-Bond-Programme-Reviewed-JG.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }