The Nairobi Securities Exchange (NSE) has marked a significant milestone with the inclusion of the Co-operative Bank of Kenya in the MSCI Frontier Markets Index, as announced on August 14, 2024. This development follows the MSCI’s August 2024 review, bringing the total number of Kenyan companies listed on the MSCI Frontier Markets Index to five. The other companies include Safaricom PLC, Equity Group Holdings, KCB Group PLC, and East Africa Breweries PLC.
In addition to this achievement, the MSCI has also added four Kenyan companies to the MSCI Frontier Markets Small Cap Index. These companies are British American Tobacco Kenya, Diamond Trust Bank Kenya, Kenya Electricity Generating Company PLC, and Kenya Reinsurance Corporation.
Frank Mwiti, CEO of the NSE, expressed his delight at the news, noting that this inclusion would enhance the visibility of Kenyan companies on the global stage, making them more attractive to international investors. Mwiti highlighted the success of structural market reforms that have contributed to the strong performance of the NSE and the return of positive foreign investor inflows in 2024.
MSCI is recognized globally for its role in providing critical decision support tools and services for the investment community, helping investors analyze key drivers of risk and return to build effective portfolios.
This inclusion underscores Kenya’s growing significance in the global equity market, with the NSE continuing to play a vital role in the mobilization of both domestic and international capital for economic growth in Kenya and East Africa.
