Kenyan Stocks Have Shilling to Thank for World-Beating Returns
- Nairobi index has returned 30% for dollar investors this year
- Shilling’s gains are boosting confidence in banking stocks
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In the space of less than three months, Kenya’s stock benchmark has swung from rock bottom to being the world’s best performer.
The Nairobi Securities Exchange All-Share Index has returned almost 30% for dollar investors this year, the most out of more than 90 benchmarks monitored by Bloomberg. That follows a loss of more than 40% in 2023.