Nairobi bourse net profit drops to Sh305 million

The Nairobi Securities Exchange has reported a marginal drop in profitability after falling victim to the volatile interest rates last year that slowed trading activity.

Large investors who are typically the largest traders of bonds and shares stayed away, starving NSE of its most critical revenue stream and resulting in a 4 per cent drop in net profits to Sh305 million. Chief Executive Officer Geoffrey Odundo yesterday told an investor briefing that the firm would give one bonus share for every three held, in a move to capitalise the retained earnings.