NAIROBI, (Xinhua) --
The International Monetary Fund (IMF) on Tuesday urged
Kenya to take urgent measures to reduce its level of
public debt which is estimated at 57 percent of the
Gross Domestic product (GDP).
bourse to target Chinese investors to expand market
Nov. 29 (Xinhua) -- Kenya’s bourse is targeting Chinese
investors in order to expand its market capitalization,
the bourse’s top official said on Wednesday.
Securities Exchange (NSE) CEO Geoffrey Odundo told
Xinhua in Nairobi that the current market capitalization
stands at 23 billion U.S. dollars.
hoping that by targeting Chinese companies to list on
the NSE, we can double our market capitalization by the
end of 2019,” Odundo said when Kenya Airways listed
additional shares at the NSE following a financial
restructuring plan that reduced the airline’s debt by
approximately 500 million U.S. dollars.
that currently 70 percent of the trading at the NSE is
dominated by foreign investors from the United States,
Europe and South Africa.
“We want to
diversify the pool of international investors to include
Chinese investors,” he said. The CEO added that NSE is
developing products that will appeal to Chinese
bourse also plans to conduct a road show in China to
showcase the opportunities for Chinese investors at the
In order to
expand the Sino-Kenya commercial links, Odundo said the
bourse has signed a Memorandum of Understanding with the
Shanghai Stock Exchange.
that the agreement is a big milestone achievement as it
is meant to attract a new class of investors from the
MOU, there will be sharing of knowledge between the
Kenyan and Chinese bourses. “Shanghai Stock Exchange is
a well developed capital market that Kenya can learn
valuable lessons from,” he added.
Kenya’s bourse turnover
swells amid decline in key index
By Bedah Mengo NAIROBI, (Xinhua)
-- Kenya’s Nairobi Securities
Exchange (NSE) recorded mixed fortunes on Monday as
turnover rose but the key index declined.
turnover surged 51 percent to end the day at 5.7 million
U.S. dollars on a volume of 26 million shares, up from
13 million worth 3.7 million dollars.
indicative NSE 20 Share Index was down 12.25 points to
close at 3,820.74 points, reversing gains made in the
last session. The NSE All share Index (NASI), however,
was up by 2.37 points to close at 170.80 points.
stocks at the bourse that make up the benchmark index
went up on Monday while the rest either declined or were
operator Safaricom, Kenya Commercial Bank (KCB),
Barclays Bank, Centum Investment, and Cooperative Bank
accounted for 84 percent the total turnover.
traded counters were Barclays, Safaricom, Cooperative
Bank, KCB and Centum, moving 7.6 million, 5.9 million, 3
million, 2.9 million, and 1.6 million shares
investors’ participation during the session stood at 44
percent, up from 30 percent, with local participation
standing at 56 percent, down from 70 percent in the
At the bond
market, turnover went up about 150 percent to stand at
13 million dollars from the previous session’s 8 million