BlackRock’s $400 million iShares ETF to exit Nigeria, Kenya
- BlackRock is closing its iShares Frontier ETF that invests in frontier and emerging markets equities, including Nigeria and Kenya.
- Foreign investors are leaving local bourses due to tough macroeconomic conditions and weakening local currencies.
- African equities have become less attractive due to low returns and currency scarcity in Egypt, Nigeria, and Kenya.
The closure of BlackRock's iShares Frontier ETF highlights the challenges faced by foreign investors in African markets. The tough macroeconomic environment and weakening local currencies have made African equities less attractive. This trend could impact the overall investment sentiment towards the region and may require further analysis and discussion.
