Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
As bourses across the East Africa continue to suffer low domestic participation and foreign outflows, property brokers have thrived, buoyed by a preference for land and housing over investing in the capital markets.
Across the region, market capitalisation is at an average of 20.87 percent of the gross domestic product (GDP), against a global average of 133.8 percent in 2020, according to the World Bank. This means that almost 80 percent of the income earned in the countries goes to sectors such as real estate, which, according to economists, look attractive but non-productive in the long-term.
