Pain of writing off bad debts comes to haunt Kenyan companies

Central Bank of Kenya Headquarter in Nairobi (PHOTO: FILE)

NAIROBI, KENYA: As corporate pinstripe suits gathered in Nairobi last week for the Moody’s Annual East Africa Summit, they were aching to know how easy it is to lose cash in the Kenyan bond market.

Some of the bonds have been subscribed in several markets especially South Africa. However, they were appalled by the number and size of bonds that had lost value in the local market.