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US firm drops Kenya companies second time in three months
Nairobi Securities Exchange (NSE) on the trading floor of the Exchange building. The Nairobi Securities Exchange (NSE) incubator programme, Ibuka has struggled to revive listings on the bourse more than five years since launching in December 2018. FILE PHOTO | NMG
Kenya’s stock market faces more investment hurdles after Morgan Stanley Capital International (MSCI) dropped its listed firms from the latest MSCI Equity Index for frontier markets, signalling the increasing unattractiveness of the Kenyan economy to foreign investment.
The American investment advisory firm excluded the Nairobi Securities Exchange (NSE)-listed firms from its key index for the second time in three months as Kenya’s investment environment continues to deteriorate as a result of unpredictable taxation regime, dollar shortage, weakening currency and high cost of fuel which continue to exert pressure on the cost of living.
