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Nairobi: The key role that Kenya’s major infrastructure drive looks set to play in boosting activity on the Nairobi Securities Exchange - the leading bourse in the East African region - is among the topics explored by Geoffrey Gangla, CEO, Genghis Capital, in a wide-ranging interview he gave recently to Oxford Business Group (OBG).
Gangla told the global research and consultancy firm that higher levels of both public and private spending on the back of improved investor confidence should have a knock-on effect on broader economic activity.
“Various government-led infrastructure investments made between 2013 and 2018 will start to materialise and trickle down to the economy, especially those related to roads, rails and port infrastructure,” he said. “The housing sector, specifically affordable housing, is also expected to experience more activity, driven by the government’s Big Four agenda.”
The full interview with Gangla is now available to read in the Capital Markets chapter of The Report: Kenya 2018, OBG’s latest publication on the country’s investment opportunities and economic development. Genghis Capital also teamed up with OBG to produce the chapter, which provides wide-ranging coverage of the latest developments in Kenya’s capital markets.
Turning to the key sectors currently driving equity markets in Kenya, Gangla cited telecommunications companies and banks as the main market players to watch, describing the outlook for both segments as positive.
Areas of interest in the field of ICT included mobile money and data, with the anticipated network expansion and 4G licensing earmarked to play an important role in fuelling competition, innovation and growth, he added. Gangla noted that financial institutions, meanwhile, had adopted various strategies to help them accommodate increased capital requirements, which ranged from strengthening their positions in government securities and growing their loan books to bolstering their presence in technology platforms.
While acknowledging that new platforms can be instrumental in boosting capital market activity, Gangla told OBG that he believes the overall attractiveness of investment options available remains the key to encouraging investor interest.
“The role of capital markets in Kenya can be revamped and reinforced within this broader context, looking at the instruments traded within their boundaries as part of a diversified set of various asset classes,” he said. “Opportunities include stocks that can be considered somewhat undervalued, and their relevance as an investment needs to be balanced with the overall risk profile of investors.”
The Report: Kenya 2018 is a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments.
The publication contains a detailed, sector-by-sector guide for investors, alongside contributions from leading personalities, including: President Uhuru Kenyatta; Monica Juma, Cabinet Secretary, Ministry of Foreign Affairs and International Trade; Peter Munya, Cabinet Secretary, Ministry of Industry, Trade and Cooperatives; and Geoffrey Odundo, CEO, Nairobi Securities Exchange.
The Report was produced with Genghis Capital, EY Eastern Africa and the law firm Okseko & Ouma and is available online and in print.
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About Oxford Business Group
Oxford Business Group is a global research and consultancy company with a presence in over 30 countries, from Africa, the Middle East and Asia to the Americas. A distinctive and respected provider of on-the-ground intelligence on many of the world’s fastest growing markets, OBG has offices in London, Berlin, Dubai and Istanbul, and a network of local bureaus across the countries in which we operate.
Through its range of products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, tourism, energy, transport, industry and ICT. OBG provides business intelligence to its subscribers through multiple platforms: Economic News and Views, OBG Business Barometer - CEO Survey, Roundtables and conferences, Global Platform - exclusive video interviews, The Report publications and its Consultancy division.
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