Kenya Bourse Chief Predicts Stocks Rebound as Dollar Pain Eases
- The market’s all-share index dropped 16% in first half of 2023
- Custodians clear offshore investors backlog orders for dollars
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The head of Kenya’s stock exchange expects easier access to dollars to boost foreign interest in the nation and help the world’s worst-performing stock market recover in the second half of the year.
“We came off a very difficult past especially on access to dollars at some point,” Nairobi Securities Exchange Chief Executive Officer Geoffrey Odundo said in an interview with Bloomberg. “Investors were having a challenge accessing dollars to repatriate back, and that was causing a bit of a stressful moment.”