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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.
IGS FSL Investment Update WE 11-12-20 15th Dec 2020 | Source: igsghana.com
Weekly Highlights
• Yields on short-dated treasury securities witnessed mixed adjustment.
• Accra Bourse steeped up recovery to reduce year-to-date losses.
• Ghana cedi outmuscled the British pound and Euro.
• US equity market hit by stimulus talk deadlock.
• Brent crude oil nearly hit the $50.00 mark, as demand picks-up.
Macroeconomic Update
Inflation dropped to 9.8 percent in November
Consumer price inflation settled at 9.8 percent in November 2020. This represents a fourth consecutive decline and the lowest since April 2020. The 0.30 percent moderation spurred by reduced inflationary pressures within the food and non-alcoholic beverage sector, brought the rate into the inflation bound of 8±2 percent target, set by the Government. Food and non-alcoholic sector Inflation settled at 11.7 percent in November 2020 from a previous rate of 12.60 percent. Non-Food inflatio