The Cooperative Bank of Kenya has been added to the Morgan Stanley Capital International (MSCI) Frontier Markets Index, which tracks the performance of listed companies in Kenya, offering foreign investors with an up-to-date information on the state of the Nairobi Securities Exchange (NSE). This allows foreign investors to make informed investment decisions.
The inclusion of Cooperative Bank of Kenya implies that Morgan Stanley Capital International considers the stock worthy for consideration by global equity investors.
Cooperative Bank of Kenya is the fifth firm to be listed on the MSCI. The lender’s inclusion follows the MSCI August 2024 review. The other four listed firms on the MSCI are; Safaricom, Equity Group Holdings, KCB Group and East Africa Breweries.
NSE, Chief Executive Officer, Frank Mwiti welcomed the move noting that the MSCI serves as a benchmark for institutional investors keen on exposure to frontier markets.
Mwiti says: “The move will enable wider and deeper coverage of Kenya’s equity market increasing the visibility of companies listed on the NSE and enhance their attractiveness to global investors as the indices serve as benchmarks for institutional investors looking to gain exposure to frontier markets.”
MSCI is a provider of critical decision support tools and services for the global investment community. The firm plays a critical role in enabling investors understand and analyse key drivers of risk and return and confidently build more effective portfolios.