Capital Markets Authority (CMA) data covering up to December 2018 show foreign investors’ net sell-off hit Sh22.96 billion, nearly double from Sh11.58 billion in 2017. “The annual net foreign portfolio flow for 2018 was an outflow of Sh22.96 billion compared to a net outflow of Sh1.58 billion in 2017. This is majorly attributed to foreign investor flight from the local capital markets,” the CMA said in the latest statistical bulletin. Foreign investor holdingThe sell-off pulled down cumulative foreign investor holding in the listed firms to 19.44 per cent from 20.17 per cent in 2017. Standard Investment Bank report covering January shows that foreign investors have continued to be net sellers.

Source: Daily Nation February 05, 2019 00:56 UTC