From left: CFA chief executive Paul Smith, NSE vice chairman Bob Karina
and CEO, Geoffrey Odundo during a meeting in Nairobi on July 3, 2017.
PHOTO | SALATON NJAU
Kenya has been advised to position
itself for cash flow from international investors eyeing Africa even as
the capital markets regulator steers the country from frontier to an
emerging market.
Certified Financial Analysts Institute
president and chief executive Paul Smith on Monday said despite the
capital markets currently not being favourable towards frontier markets,
this is the right time for international investors to consider entering
Kenya and Africa in general.
“I suspect that we are on
the cusp of a frontier markets boom and this is an intelligent time for
international investors to be coming to Kenya and Africa in general,”
he said in Nairobi during a breakfast meeting with executives of market
regulators and top financial institutions.
He said as the economy continues to grow, more and more companies will look into the capital markets to raise funds.
“Regulations,
investor education, growth of domestic institutions, attractiveness of
Kenya to foreign money—all these will make thriving capital markets and
in turn encourage people to invest ,” said Mr Smith.
He said Kenya should be aggressive in finding new international investors.
“You
will discover that there are long-term investors who are committed to
the region and who have lots of money to invest and are looking for
opportunities. It is just now that the CMA and NSE and other groups here
should be gearing up their international activities, not scaling them
back,” said Mr Smith.
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