The month of March marked one year after most countries globally locked up their people, introduced tough restrictions on movement and introduced ways of containing the Novel Coronavirus (Covid-19). For East Africa, this has been a tough outing with thousands sick, and millions affected economically. The countries in the region have also reacted differently, with Rwanda and Kenya being on the extreme cautious path, while Tanzania and Burundi have applied the Laissez-Faire approach.
Stocks in the region have been hit hard with the regional bourses shrinking significantly, as well as a loss in interest by foreign investors. The Nairobi Securities Exchange (NSE) seems to have been hard hit with an unprecedented bear run. According to the Capital Markets Authority (CMA) end-of-year statistical bulletin, all indices at the Nairobi bourse performed poorly, with net foreign outflow hitting KSh28.63 billion ($260.9M) compared to a net foreign inflow of KSh1.38 billion ($12.6M) in 2019.
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