By VINCENT OWINO
Foreigners’ portfolio investments in Kenya have more than doubled in the past year, reaching Sh6.4 billion ($49.5 million) by June, a significant increase from the negative value recorded in June the previous year. This surge reflects a growing confidence in Kenya’s economy among international investors, attracting them to stocks, bonds, and other financial instruments in the country. The appreciation of the shilling and rate hikes by the Central Bank of Kenya have also contributed to this positive trend.
Despite facing economic challenges like a weakening shilling and high inflation in recent years, Kenya is now experiencing a shift in investor sentiment, with increased portfolio investments from foreigners. The Nairobi Securities Exchange has also shown promising returns, with the market capitalization rising and the NSE outperforming other African stock markets. This trend indicates a positive outlook for Kenya’s economy and its attractiveness to foreign investors.
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