Overall, the MSCI Asia ex-Japan index was 0.48% higher. Markets in China, Hong Kong, South Korea and Taiwan were closed on Thursday for holidays.

The value of transaction has been tipped to rise on account of COVID-19 pandemic.

Steven Oluoch who was the former Chief Executive Officer left the organisation upon attainment of retirement age and officially handed over the position to Paul Muthaura.

The Dow Jones Industrial Average rose 536.82 points, or 1.96%, to 27,989.48, the S&P 500 gained 54.54 points, or 1.64%, to 3,390.01 and the Nasdaq Composite added 186.02 points, or 1.68%, to 11,271.27.

“We are keen to enter these key East African markets with substantial market share at the outset and JHL is the best partner to help us achieve this ambition in East Africa.”