Bear run at Nairobi Securities Exchange wipes out Sh250 billion

Investors at the Nairobi Securities Exchange lost Sh250 billion in paper wealth last year as prices of most stocks fell sharply. In the year punctuated by volatile Kenyan currency, rising inflation and surging interest rates, 48 of the 64 listed stocks shed value, wiping out an equivalent of nearly a quarter of what the Government targets to raise from taxes to fund the 2015-16 Budget.