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.
The bond market has been ripped by scandals after investors lost their money in collapsed issuers and is now mostly trading government treasuries, having shrunk from 28 listings valued Sh71.28 billion in August 2014 to a Sh22.1 billion portfolio issued by six firms.
