As Trading in Nigerian Stocks Plunges, Kenya Closes Gap: Chart

The value of trading in Nigerian stocks fell to $860 million in the last three months of 2015 -- the lowest level in dollar terms since the third quarter of 2011 and almost half of what it was at the beginning of 2013 -- as foreign investors flee a weakening economy and to avoid losses from a currency devaluation they see as all but inevitable. Turnover on the main index in Kenya, which has an economy barely a 10th the size of Nigeria’s, is catching up, climbing to $411 million in the final three months of 2015 from $90 million in the first-quarter of 2013.

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