Kenya’s capital markets have received a major boost after two Nairobi Securities Exchange (NSE)-listed companies were added to the MSCI Frontier Small Cap Index, a move expected to attract more international investors to the country.
The inclusion of CIC Insurance Group Plc and Williamson Tea Kenya Plc in the November review by Morgan Stanley Capital International (MSCI) marks a significant milestone for Kenya’s growing investment landscape.
This development brings the total number of NSE-listed companies represented across MSCI’s Frontier Markets and Small Cap Indices to sixteen, highlighting increasing global confidence in Kenya’s capital markets.
MSCI, a global leader in investment decision support tools, said the addition of the two firms reflects “growing international confidence in the depth, resilience, and long-term potential of Kenya’s listed equities.”
CIC Insurance Group and Williamson Tea now join a group of leading Kenyan firms already featured in the global indices, solidifying the country’s reputation as one of Africa’s most attractive frontier investment destinations.
Following the latest update, the MSCI Frontier Markets Index now includes Safaricom PLC, Equity Group Holdings PLC, KCB Group PLC, East African Breweries PLC, Co-operative Bank of Kenya Limited, and Standard Chartered Bank Kenya Limited.
Meanwhile, the MSCI Frontier Small Cap Index now features British American Tobacco Kenya PLC, Diamond Trust Bank Kenya Limited, Kenya Electricity Generating Company PLC, Kenya Reinsurance Corporation Limited, Kenya Power and Lighting Company PLC, Carbacid Investments PLC, Bamburi Cement PLC, HF Group PLC, CIC Group Holdings PLC, and Williamson Tea Kenya PLC.
The inclusion of the two new firms is expected to enhance Kenya’s visibility among global investors seeking opportunities in emerging and frontier markets.
Market analysts say the move could also increase liquidity and trading volumes at the NSE as more investors turn their attention to Kenyan equities.
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