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CMA to drop troubled firms from Kenyan stock market
Since 2019, foreigners have largely remained bearish on smaller markets, largely due to a flight to the safety of developed markets amid global shocks such as the Covid-19 pandemic and the Russia-Ukraine war.
The Capital Markets Authority (CMA) has given the nod to the setting up of the contentious recovery board for troubled companies listed on the Nairobi Securities exchange (NSE) in a move aimed at protecting investor interests and reviving confidence in the stock market.
The move will see troubled firms such as TransCentury, Kenya Airways, Mumias Sugar Company and Uchumi Supermarkets transferred to the special board for two years to help them get back to stronger footing.
