Nairobi bourse lobbies Treasury, CMA to cut shares transaction levy

Nairobi Securities Exchange (NSE) is holding discussions with National Treasury and Capital Markets Authority (CMA) with a view to lowering the 0.3 per cent transaction levy, introduced during this year’s budget. The idea is to make the Nairobi bourse more attractive and less expensive to investors.

Nairobi securities Exchange (NSE)trading floor.(PHOTO: BEVERLYNE MUSIKLI/ STANDARD)

“We are engaged in discussions on the new levy, which will be effective from January next year, on areas such as the quantum and whether this levy will apply on the sale, buy side or both. We are also yet to agree on what happens in the intervening period , now that Capital Gains Tax on transactions at the bourse, has been scraped,” NSE Chief Executive Officer George Odundo said in an exclusive interview with The Standard.