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Financial markets cool down ahead of elections
IEBC officials organise election materials at the Mathira Constituency tallying centre at Karatina Girls Secondary School in Nyeri County on August 7, 2017. PHOTO | JOSEPH KANYI | NMG
Financial market investors took a defensive position on Monday as business closed ahead of Tuesday’s General Election, which pits President Uhuru Kenyatta against opposition leader Raila Odinga in a tight race for the country’s top job.
A steep rise in demand for dollars saw the shilling cede ground to the US dollar, while equities and bonds turnover at the Nairobi Securities Exchange (NSE) fell following a plummeting of the number of investors in the market.
