Foreign investor flight from the Nairobi Securities Exchange (NSE) has pushed the market to its lowest point in a decade, wiping out a significant portion of wealth in just nine months.
The latest market data shows that investors at the Nairobi bourse have lost 15 per cent of the paper wealth they had at the beginning of the year in a routing that has seen the benchmark NSE 20 share index plummet to 2,755 points — a level last seen at the height of the global financial crisis in March 2009.
Investor wealth as measured by market capitalisation has since January dropped Sh384 billion to stand at Sh2.137 trillion by close of trading yesterday. Read more
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