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Covid-19, political noise dampen NSE recovery
Tuesday January 26 2021
Investors in Kenya s stockmarket counted paper losses largely as a result of weak corporate governance and the Covid-19 pandemic. PHOTO | FILE | NMG
Summary
Low participation by foreign investors, saw average foreign investor participation to total equity turnover decline from 68.6 percent in December 2019 to 60.6 percent by the end of July 2020.
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Investors in Kenya’s stockmarket counted paper losses after Ksh203 billion ($1.86 billion) of their wealth was wiped out on the Nairobi Securities Exchange (NSE) last year largely as a result of weak corporate governance and the Covid-19 pandemic that hurt corporate earnings and dimmed dividend prospects and foreign investments.