Eyes on CMA as Nairobi bourse remains shaky
Monday March 15 2021
Summary
The bond market has been ripped by scandals after investors lost their money in collapsed issuers and is now mostly trading government treasuries.
In early 2020 the coronavirus pandemic hit stock prices, which fell with foreign investors exiting, sending the bourse to a multi-year low.
Perhaps as a testament to its resolve amid the crisis, the Capital Markets Authority (CMA) has returned to the drawing board and now wants to review its 10-year master plan and hopefully reinvigorate the market.
With four counters suspended and more companies leaving the Nairobi Securities Exchange(NSE) than those joining, poor off-take of new products and a market so concentrated that one company matches the value of all the other 60 companies, Kenya’s capital market is in a sorry state.