The Nairobi Securities Exchange (NSE) has returned to lows last seen at the peak of the Covid-19 pandemic in 2020 on foreign investors’ flight in the wake of rate hikes in the US, wiping out Sh668 billion of investor wealth since the beginning of this year.
The market capitalisation has in the past week remained below the Sh2 trillion mark, a performance that was witnessed in August 2020, when Kenya was battling Covid-19 restrictions such as a nationwide curfew, which delivered layoffs, job cuts and business closures.
