Kenya has been rated as among the world’s most attractive frontier markets for investors.

This is according to recent analysis by Citigroup, as reported by Asoka Insight. The country was ranked top along with Sri Lanka and Romania, while Argentina, Morocco and Egypt were the least attractive.

Citigroup said that the Nairobi Securities Exchange (NSE) ’will be a beneficiary of improved economic environment that should then positively impact corporate earnings’.

‘The Kenyan market did quite well in 2017 (+36% total return), despite the dual headwinds of the 2016 Banking Law, proscribing limits on deposit and lending rates and presidential elections,’ it said, adding that 2018 looked to be ‘a more straightforward year of good economic performance, supporting earnings’ for the NSE.