South Africa’s Absa Bank Limited has doubled the units of gold-backed exchange-traded fund (ETF) at the Nairobi Securities Exchange (NSE) to match increased demand.
The NSE Limited has disclosed in the latest annual report that Absa, which was last December weighing to add between 250,000 to 400,000 units eventually settled for the maximum as investors sought out gold as a safe haven, exhausting supply.
