Investor apathy blamed on rising interest rates in the US and Europe, and the geopolitical tensions brought about by the ongoing war between Russia and Ukraine. FILE PHOTO | AFP
Investors on the Nairobi Securities Exchange (NSE) lost Ksh777.83 billion ($6.37 billion) of wealth in nine months as the value of listed firms plunged by 28 percent between January and September amid a persistent bear run on the struggling bourse.
Central Bank’s monthly economic data shows that the bourse’s market capitalisation fell to Ksh2 trillion ($16.39 billion) from Ksh2.77 trillion ($22.7 billion) during the period under review, with the situation compounded by massive exits by foreign investors.
