The Nairobi Securities Exchange (NSE) has achieved a significant milestone after securing multiple upgrades in the latest review by FTSE Russell, strengthening its position in the global markets.
Foreign investor access was upgraded from “Restricted” to “Pass,” reflecting enhanced efficiency in account opening processes and reduced barriers for international investors.
The Foreign Exchange Market Development rating was also upgraded from “Not Met” to “Restricted” highlighting improvements in foreign exchange flexibility and the easing of fund repatriation requirements.
The review further improved the “Fair and non-prejudicial treatment of minority shareholders” criterion to “Pass,” supported by improved free float levels exceeding 30% among FTSE Frontier Index constituents and efficient proxy voting frameworks.
Kenya’s sovereign credit assessment improved from “Highly Speculative” to “Speculative” indicating robust confidence in the country’s macroeconomic stability among global rating agencies.
“The FTSE Russell upgrades demonstrate the progress achieved through strategic initiatives under the NSE 2025-2029 strategy and are vital to strengthening the development and competitiveness of Kenya’s market. They represent a significant step forward in the ongoing reform of the country’s capital markets and reaffirm the NSE’s commitment to global best practices,” said NSE CEO, Mr. Frank Mwiti.
About FTSE Russell
FTSE Russell is a global index and data provider that creates and manages widely used stock market indices, such as the FTSE 100. It is part of the London Stock Exchange Group and is best known for classifying countries into developed, emerging, or frontier markets and assessing factors like market accessibility, governance, and liquidity.
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