Wed, 27 Jan 2021

NAIROBI, Jan. 13 (Xinhua) -- The Nairobi Securities Exchange (NSE) said Wednesday it's seeking to attract more foreign investors in order to boost market liquidity.

Geoffrey Odundo, CEO of NSE told Xinhua in Nairobi that overseas investors sold their shares in locally listed firms last year as a result of the COVID-19 pandemic as they sought safety for their financial assets in their home markets.

"This year the NSE will be an ideal destination for foreign investors looking to enter frontier markets due to the expected high returns," Odundo said.

He said that the rolling out of the COVID-19 vaccine, the conclusion of the United States elections, and Brexit have reduced global risks, making securities exchanges in developing countries attractive for global investors.

"Our equities valuations are low while there is an ongoing market recovery that will ensure high returns this year," he added.

Odundo revealed that Kenya is also keen to introduce the participation of Chinese investors in the local securities exchange.

"Chinese investors are a good class of investors because they are strong savers and so we want to encourage them to buy shares of local firms," he added.

"We are currently in talks with the Shanghai and Shenzhen bourses to enable Chinese investors to also become players at our securities market," Odundo noted.

The NSE said that it also plans to leverage mobile digital platforms in order to encourage more participation of youth in the Nairobi bourse.

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