East African securities markets have fallen by an average of 17 percent in a year, as foreign investors continue dumping shares of blue-chip companies in favour of high-yielding investments in the US and Europe, buoyed by soaring interest rates in the developed markets.
The Kenyan market is the hardest hit by the foreign investor exits, with the Nairobi Securities Exchange (NSE) All Share Index (NASI) plunging by 30.74 percent to 89.35 as at November 13, from 129.02 on November 14, 2022.
