Stockbroking firms on the Nairobi Securities Exchange (NSE) are fighting to stay relevant more than a decade after the collapse of the stockmarket boom in 2007 that ushered in a prolonged period of declining revenues from both equity and bond transactions.
Revenues from advisory services on rights issues and initial public offerings (IPOs) also vanished as companies went slowly on floating shares to the public after risk-averse investors snubbed Co-operative Bank and Britam share sales that were undersubscribed by 19 percent and 40 percent in 2008 and 2011, respectively.
