Kenyan Stocks Advance for First Year in Four on Growing Economy

Kenya’s stocks measure, sub-Saharan Africa’s second-biggest gainer after Uganda’s, had the first annual increase since 2006 as East Africa’s largest economy grew at the fastest pace in almost three years.

The Nairobi Stock Exchange All Share Index rose 0.2 percent to 77.76 by the 3 p.m. close, extending its climb this year to 34 percent. That compares with a 19 percent advance in the MSCI Frontier Market Index over the same period. Kakuzi Ltd., which grows tea, was the biggest gainer, almost tripling to 82 shillings. Sasini Ltd., a tea and coffee processor, surged 81 percent to 13.05 shillings. Co-operative Bank of Kenya Ltd., the fourth-biggest lender by market value, led advances among banks, more than doubling to 19 shillings.