-- Some 15 million shares
worth 2.9 million dollars were traded at the Nairobi
Securities Exchange (NSE) Monday, down from 19 million
valued at 4.7 million dollars the previous trading day
as foreign investors slowed down trading.
was the most traded stock moving 11.3 million shares at
unchanged price of 0.18 U.S. dollars. The stock
attracted the most foreign purchases and sales, but
other top buys were Equity Bank, East African Breweries
Ltd and the Cooperative Bank.
KenolKobil was the second most active stock as it
exchanged 1.3 million shares at 0.12 dollars, a decline
of 0.3 percent. The stock, however, was mainly traded by
Uchumi Supermarket and Barclays Bank were the other top
five traded stocks but they did not trade more than a
The NSE 20
Share Index went down for the third consecutive trading
session to 3,106.21 Monday after peaking at 3,128.44 on
March 29 while the All Share Index closed higher at
131.50 from 130.61.
market witnessed a rise in activity with bonds worth 12
million dollars transacted compared to 8 million
registered the previous session.
Kenya’s bourse to
woo Chinese investors
NAIROBI (Xinhua) --
Kenya’s Nairobi Securities Exchange (NSE)
plans to woo Chinese investors in order to deepen the
capital market, the bourse’s top official said.
Geoffrey Odundo told Xinhua in a recent interview in
Nairobi that currently there is very minimal Chinese
capital at the NSE.
therefore planning to conduct road shows in China in the
coming months so that we create awareness of the NSE in
China,” Odundo said.
past decade, Chinese firms have begun to play a
prominent role in Kenya’s economy. Odundo said that most
Chinese firms operating in Kenya are either state-owned
or privately held firms.
in the NSE, the Chinese can access long-term capital at
cheaper rates,” he added. The CEO noted that China has a
high savings ratio as compared to Kenya.
therefore a huge pool of Chinese funds that is looking
for high returns that the NSE currently offers,” he
The NSE is
currently having discussions with Chinese investors who
want to list their companies in African stock exchanges.
that the Chinese have adopted a long-term view of Africa
and therefore are seeking to grow their firms as the
continent also grows.
Some of the
advantages that Chinese firms will get by listing in
Kenya are that they will gain more acceptance by local
The NSE has
already signed a Memorandum of Understanding with the
Shanghai Securities Exchange in order to enhance
knowledge sharing among the two exchanges.
agreement, Kenya will be assisted to develop products
that appeal to Chinese capital markets investors.
that some NSE personnel will also visit the Shanghai
bourse in order to understand how the Chinese exchange
has expanded rapidly in the past decade.