Investors burn their fingers on rate cap gamble

An employee makes notes in front of an electronic stock information screen inside the Nairobi Securities Exchange Ltd. (NSE), in Nairobi, Kenya.

Investors who had put their money in listed banks’ stocks have burnt their fingers after MPs voted to retain the rate cap.

Since last week, counters in the banking sector have been falling in valuation at the Nairobi Securities Exchange (NSE) as speculators who had hoped to cash in on a rejuvenated industry, should legislators have scrapped the controversial law, sell their stocks en masse.