Individuals
Businesses
Company
Intelligence
News
African Capital Markets
EnglishEnglish
share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram

Kenya's KCB Group added to Morgan Stanley frontier market index

Daba Finance/Kenya's KCB Group added to Morgan Stanley frontier market index
AFRICAN STOCKS AND FINANCEMay 27, 2024 at 2:50 PM UTC

TLDR

  • MSCI promotes Kenya's KCB Group to Frontier Markets Index, attracting global investor attention.
  • KCB moves up from small-cap to join Safaricom, Equity Group, and East African Breweries in the index.
  • Effective on May 31, the move marks KCB's return after being downgraded in 2019.

Morgan Stanley Capital International (MSCI), a global provider of investment data and analytics, has promoted Kenya's KCB Group to the MSCI Frontier Markets Index, enhancing the stock's visibility to international investors.

This promotion moves KCB from the small-cap index, joining Safaricom, Equity Group, and East African Breweries in the frontier markets index, which includes large and mid-cap stocks across 28 frontier markets.

The changes will take effect on May 31, marking KCB's return to the index after being downgraded to the small-cap index in November 2019.

Key Takeaways

The upgrade of KCB Group, the fourth-largest listed firm on the Nairobi Securities Exchange, follows a significant stock rally of 46.35% since the start of the year, second only to Liberty Kenya, whose share price has risen by 51.22% in the same period. KCB's inclusion in the MSCI Frontier Markets Index also comes after MSCI lifted its suspension on new Kenyan firms joining its global stocks market platform. This suspension, imposed in August 2022 due to dollar shortages, was removed in mid-May this year. MSCI cited improved liquidity in foreign exchange markets and better conditions for foreign investors to repatriate capital from Kenyan equity markets as reasons for ending the freeze.

KCB Group
MSCI
MSCI Frontier Markets Index
Safaricom
Equity Group
East African Breweries
Nairobi Securities Exchange
Stocks
Finance
Kenya

Think someone else should see this?

share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram
Stay informed with our newsletters read by 25,000+ professionals worldwide
Newsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companies

Next Frontier

Stay up to date on major news and events in African markets. Delivered weekly.

Pulse54

UDeep-dives into what’s old and new in Africa’s investment landscape. Delivered twice monthly.

Events

Sign up to stay informed about our regular webinars, product launches, and exhibitions.

+25k investors have already subscribed

To invest in this opportunity and other opportunities across Africa

Download the daba finance app on your mobile through
appstore iconappstore icon
Phone Image

Take action.

Download app

Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.

Partner with us

Unlock exciting business opportunities and growth potential.

Join Daba

Become a part of our vibrant community and enjoy exclusive benefits.

Contact us

Reach out to us for inquiries, support, or collaboration.
For Investor
StrategiesPortfolio ManagementAfrican Capital MarketsNews
Daba Pro Intelligence
For Capital Seekers
For StartupsFor Fund ManagersFor Private CompaniesFor Lenders
For Partners
Commercial BanksBroker DealersAsset ManagersInvestment BanksInvestment Advisors and ConsultantsLenders and Microfinance
Company
About UsMarket UpdatesEventsBlog and PodcastNewsletterCase StudiesAffiliate ProgramInvesting GlossaryOfficial ContactsTrust, Compliance and SecurityFrequently Asked Questions

Terms & ConditionsPrivacy Policy
EnglishEnglish

Owned by Daba Markets Inc. By using this site, you accept our Terms and Conditions and Privacy Policy. © 2024 All rights reserved. 2025 All rights reserved