Morgan Stanley Capital International (MSCI), one of the leading global capital market companies, has added Carbacid Investments PLC, Bamburi Cement PLC, and the Kenya Power and Lighting Company PLC to ITS Frontier Markets Small Cap Index.
The inclusion brings the total number of Kenyan companies included in the MSCI Frontier Markets Small Cap Index and listed on the Nairobi Securities Exchange (NSE) to seven. Othe Kenyan companies in the Index include KenGen, British American Tobacco (BAT) Kenya, Diamond Trust Bank, and Kenya Reinsurance.
“The addition of three more companies to the MSCI Frontier Markets Small Cap Index underscores the MSCI’s recognition of the huge potential growth of Kenya’s listed equities. This increased representation will offer the global investment community greater exposure to Kenya’s listed companies and drive significant capital inflows to NSE,” noted NSE Chief Executive Officer Mr. Frank Mwiti.
The significant development comes as the three companies registered substantial capital gains in the past few months. Carbacid Investments had its share price rise by 33% to the current price of Kshs 19.95 since the start of 2024,
Kenya Power & Lighting currently trades at Ksh 4.76, representing an impressive 235% increase since January this year. Bamburi Cement had its share price grow 84.1% year-to-date to the current price of Kshs 66.
MSCI is a global capital firm that offers stock indexes, portfolio risk and performance analytics, and governance tools to the global investment community. Companies enjoy visibility to the interventional investors by listing on the MSCI indexes.
NSE leadership emphasized their commitment to engaging domestic and international investors to improve the visibility of NSE-listed securities to investors.
“As the primary securities exchange in the region, NSE will continue engaging the investor community to ensure listed companies continue attracting global and regional investors,” Mwiti Said
Read more: MSCI Lists Co-op Bank and Other Kenyan Firms to Its Indices
