The Nairobi Securities Exchange is building East Africa’s first exchange traded fund focused on AI stocks, with plans to offer it to investors before year-end — though its chief executive says the launch could be delayed if the global AI rally starts to look overdone. The exchange is discussing the proposal with Kenya’s market regulator. Structure and what comes nextThe fund will most likely be denominated in Kenyan shillings to limit foreign exchange risk. “Kenyans are actually investing in foreign markets because of a lack of product diversity here,” Mwiti said. Most African capital markets do not yet offer AI-focused ETFs, which are common in developed markets such as the US.