East Africa Investment Professionals have been challenged to explore emerging instruments to spur financial markets recovery in the post Covid- 19 era.
Speaking during the opening of the Chartered Financial Analysts Society East Africa (CFA Society EA) 4th Annual Investment Conference in Nairobi, Trade and Investments Cabinet Secretary Hon. Moses Kuria said local and regional capital markets need to expand and seek new ways of financing businesses and the government.
While assuring that Kenya’s newly elected government is keen on deepening local and regional investment opportunities, Kuria noted that president Ruto’s administration will be seeking to strengthen protection for investors, modernize regulatory frameworks, and introduce new financial instruments to spur investments and economic growth .
The CS told the CFA Society members and investors that the Kenyan government has rolled out a raft of measures aimed at re-invigorating the capital markets aimed at raising capital and attracting new investment opportunities including a plan to expand the capital markets and bring more privatisations onto the NSE.
Significant among the new initiatives include the launch of asset backed securities guaranteed by the government of Kenya, a new privatization law to ease the process of listing of public entities at the Nairobi Securities Exchange ( NSE) and acceleration and focus on private public partnerships.
“Towards actualizing these initiatives, the Kenyan government has established a state department for investment which will drive the entire process. The ministry of Trade and Investments is also in the process of positioning Nairobi to a global financial services center in Kenya similar financial centers based London, Dubai, Shanghai and Johannesburg among others”, Kuria added.
Francis Nasyomba, CFA Society East Africa President told the conference delegates that investor inflows are expected to re-bound after the downturn experienced in the last three years’ courtesy of the COVID-19 pandemic outbreak.
He said the Investment Conference was aimed at bringing together investors, regulators and public policy decision makers to learn and share ideas and experiences on how to deepen regional capital markets to spur economic growth.
“This conference is a great opportunity to for investment professionals to discuss emerging issues such as technology, new global trends and their impact on the regional investment markets” Nasyomba added.
CFA expressed confidence that investment prospects in the East African region at a steady recovery to pre-pandemic levels, a trend expected to hold as foreign direct investments buoyed by investor interest in strategic sectors that are fronted to deliver the realization of the economic growth in the next ten years.
Conference participants noted that international and regional investors were keen on scouting for opportunities in the productive sectors of the economy such as green energy, extractive industries, infrastructure, agricultural value chain, oil & gas as well as the information technology space.
Further, the delegates opined that investment opportunities in the EAC will in future be guided by respective states commitment to pursue a strategic approach of mitigating the negative effects occasioned by climate change.
Over 300 international, regional and local attended the one-day Investment Conference. Lead sponsors at the conference included Refinitiv, Kigali International Financial Center, Sanlam, EAVCA, BDO Holdings Africa and Synesis Capital limited
Among the key presenters in the conference included Fred Swaniker, Founder and CEO, African Leadership Group Patricia Kiwanuka, CFA, OGW, Investment Manager, Counselling Psychologist and Director of Revenu Stream.