Foreign investment at NSE slumps to 8-year low
Foreign investment at the Nairobi Securities Exchange slumped to its 8-year low of 35.9 percent in September.
Data from the Capital Markets Authority (CMA) indicates that net portfolio outflows by foreign investors in nine months to the end of September stood at Ksh.19.5 billion.
This is in line with heavy portfolio flows by foreign investors who are channeling their investments away the emerging markets.
It comes against the backdrop of weakened shilling which has been on a roller-coaster since the advent of coronavirus pandemic.
Foreign investors shed an additional Ksh.2.3 billion worth of stocks in October to send year-to-date portfolio outflows to Ksh.21.8 billion.
Narrowed investment at NSE is mirrored by global economic uncertainty occasioned by ongoing war between Russia and Ukraine which is now entering what could become a protracted period of feeble growth and elevated inflation.