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Nairobi Securities Exchange posts third highest dollar returns in Africa
Since 2019, foreigners have largely remained bearish on smaller markets, largely due to a flight to the safety of developed markets amid global shocks such as the Covid-19 pandemic and the Russia-Ukraine war.
The Nairobi Securities Exchange (NSE) handed foreign investors the third highest dollar returns in the year so far among the 10 African markets tracked by the Morgan Stanley Capital International (MSCI) frontier and emerging market indices, following the recent blue chip stocks price rally.
Analysis of the year-to-date returns for the African markets on the MSCI indices shows that Kenya’s return of 38.4 percent only trails Morocco and Nigeria’s gains of 50.2 percent and 39.3 percent respectively.
