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Investment scene in 2024
The recent approval of spot bitcoin ETFs that attracted an estimated $10 billion trading volume in the first three days of trading led by Grayscale Investments and BlackRock is raising interest. PHOTO | SHUTTERSTOCK
Last year delivered divergent fortunes for investors, with the Nairobi Securities Exchange experiencing a significant downturn, evidenced by a 23.3 percent decline in the NASI index and a 10.3 percent drop in the NSE 20 index.
Meanwhile, astute traders converting Kenyan shillings to USD reaped benefits as the local unit depreciated by an estimated 29 percent against the greenback. In contrast, the US Nasdaq 100 index exhibited robust growth, soaring by an impressive 52 perrcent in dollar terms and an even more substantial 67 percent in Kenya shilling terms.
