NSE sheds Sh294 billion in a month as foreigners flee

nairobi securities exchange bourse
[Image source: Riccardo Gangale | Bloomberg]

Business Daily | by Otiato Guguyu

Investors at the Nairobi Securities Exchange (NSE) lost Sh294 billion in a month following a sell-off by foreigners that has pulled down the value of the bourse to a 20-month-low amid a profit and dividend boom.

The market capitalisation dropped to Sh2.176 trillion on Friday after a steady fall that started on April 13 when the bourse’s value stood at 2.471 trillion.

Safaricom, East Africa Breweries Limited (EABL), Cooperative Bank, Equity and KCB Group led in shedding value in the wake of the sell-off…

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