Kenya is world’s best performing Frontier market in 2019

Morgan Stanley Capital International (MSCI) index ranks Kenya as the best performing frontier market since the start of 2019. According to the MSCI Frontier markets index, Kenya has gained 17.64 percent in US dollar terms. The average gain on MSCI index for all frontier markets is 5.39 percent. It means Kenya has outperformed the world’s frontier markets by 12.25 percent.

Mauritius is the second best performing frontier market in Africa with a gain of 5.46 percent.  Nigeria’s index has only increased 0.39 percent in the period under review. This is mainly due to the uncertainty presented by the recently held elections.  Frontier markets in Africa have gained 3.96 percent on average.

Morocco and Tunisia are two African frontier markets that have recorded a decline in performance of 2.34 per cent and 0.89 per cent respectively. The world’s worst-performing frontier market year to date is Serbia with a negative performance of 25.54 per cent.

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