Kenya’s removal of share-ownership cap fails to attract foreign investors
A trader monitors stocks at the Nairobi Securities Exchange. Market analysts say foreign investors are wary of Kenya’s political and macroeconomic environment, particularly the country’s ballooning public debt. FILE PHOTO | NATION
Kenya has failed to attract increased foreign investment in firms listed on the Nairobi Securities Exchange despite passing a legislation that gives foreigners the freedom to acquire 100 per cent shareholding in these firms.
The EastAfrican has learnt that foreign investment on the Kenyan bourse has remained low even after the government lifted the 75 per cent ownership cap in July 2015, with listed firms grappling with poor financial performance and reduced earnings for shareholders.
