Kenya slipped four places rank position seven in the latest Absa Africa Financial Markets Index 2020 report, largely on poor forex reserve and poor microeconomic opportunities. Ahead of Kenya are South Africa and Mauritius with 89 and 79 points respectively followed by Nigeria, Botswana, Namibia and Ghana. According to Absa, the ratio of net portfolio investment to foreign exchange reserves went up to 14.4 per cent from 9.5 per cent. The Foreign exchange pillar evaluates a country’s openness to foreign investment based on the ease of moving capital, the flexibility of foreign exchange regimes and the availability of reliable foreign exchange data. According to the report, Kenya is still behind on pension assets per capita which is at $257, ranking position eight in the continent behind Namibia, Mauritius, South Africa, Seychelles, Morocco and Eswatini.

Source: The Star October 29, 2020 00:56 UTC