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) has gained Sh1 trillion in a year, reaching a three-year high as investors reallocate assets from bonds to equities in the wake of falling returns from government papers.
The value of shares at the bourse has jumped to Sh2.62 trillion from Sh1.6 trillion a year ago, gaining Sh518 billion since the start of June.
