The flight to fixed-income investments in the Covid-19 pandemic period swelled transactions in bonds at the Nairobi Securities Exchange (NSE) to a record Sh956 billion last year, nearly seven times the value of equities traded on the bourse.
Both retail and institutional investors have been seeking the higher guaranteed returns available from government securities as earnings from other asset classes such as equities and cash deposits remain low, hence the huge spike in bonds turnover.
