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Weakening shilling wipes out profits for most listed firms

Nairobi securities Exchange (NSE)trading floor.17/10/14-BEVERLYNE MUSIKLI

Major companies are reeling from the slump of the shilling as the strengthening of the US dollar takes its toll beyond individual households.

More than half of the 32 listed firms that have booked their earnings have reported slowdown in profits or even losses, including the record Sh29 billion loss announced by Kenya Airways.

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