Foreign Inflows in Kenya Double in 12 Months

Foreigners’ portfolio investments in Kenya more than doubled in the 12 months to June this year, reflecting an improving investor sentiment about the country.

The East African reports that Portfolio investment liabilities are assets such as stocks, government or corporate bonds, and other financial instruments held by foreign nationals in Kenya, and generally reflect the country’s attractiveness to overseas investors.

As of June, such investments hit Sh6.4 billion equivalent to $49.5 million, a 121 per cent rise from the negative value of Sh32.6 billion or $233.4 million in June last year, latest data from the Central Bank of Kenya (CBK) shows.

Experts say this is a sign of improving investor confidence in the Kenyan market, and an indication that the country’s economic situation appears promising to far-away investors, at least in the short-term.