Nairobi Securities Exchange Chief Executive Officer, Geoffrey Odundo, has hinted on a proposal to introduce fine art as an alternative investment asset at the bourse.
During the recent Art and Finance Conference that took place in Nairobi, he said that the exchange will work on a partnership with stakeholders to allow nvestors to make long-term investments in a portfolio of valuable artworks.
During the event, Stanbic Bank also announced a planned partnership with a local Sacco & a credit rating firm that will see artists get access to loan facilities.
TransUnion Chief Executive Officer, Billy Owino, says that most artists are locked out of the ability to access loans due to the narrow metrics used to obtain their credit risks.
Therefore, he noted that the international credit bureau is working on a viable credit store by collating alternative data sources.
