Last week’s move by the Central Bank of Kenya (CBK) to raise borrowing costs to a 12-year high of 13 percent has further dampened trading activity on the Nairobi Securities Exchange (NSE), with analysts warning that the trend would prolong as investors shifted to fixed income assets.
On Wednesday, just a day after the apex bank’s announcement, the Nairobi bourse recorded a Sh9.8 billion paper wealth loss to close at a market cap of Sh1.435 trillion down from Sh1.445 trillion on Tuesday.
