Kampala plans to issue a municipal bond in the next eight months in a move that could provide a blueprint for Kenyan counties seeking to raise development funds. Issuance of municipal bonds, a standard practice in Developed World cities, is taking root in Africa with a few bonds in the pipeline.
“Uganda’s capital city, Kampala, plans to issue the country’s first municipal bond by June 2015 to finance infrastructure development needed to change it into a modern commercial hub,” the African Securities Exchanges Association (ASEA) said in a statement issued through the NSE.
