Money Markets
NSE outperforms African bourses
A trader at Nairobi Stock Exchange. The bourse recorded strong growth for the first half of the year, a recovery after past years of reduced activity. Photo/FREDRICK ONYANGO
Posted Tuesday, August 24 2010 at 00:00
“This year, Africa will account for 20 per cent of business hence our focus is to increase the footprint in Africa both in terms of presence and operations,” said Mr Stephen Jennings, chief executive of Russia’s Renaissance Capital which has a subsidiary in Kenya.
The discovery of oil in countries such as Ghana, Uganda and Angola and improved global commodities prices has made Africa a hotspot for foreign investors.
The East African Community Common Market has opened up the region with Kenya as the preferred hub due to its relatively advanced economic status.
With an estimated market population of 130 million people, the demand for goods and services is expected to provide rich business ground for investors.
Increase in disposable income and changing lifestyles have necessitated the need to meet the growing demand.
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