The fall in share prices at the Nairobi Securities Exchange following a selloff induced by Russia’s invasion of Ukraine.
This has raised the prospects of higher dividend yields for investors who enter the mark under current conditions.
The NSE shed Sh108.3 billion in paper wealth between Monday and Friday last week as tensions in Ukraine rose and eventually Russian forces invaded the country, with large banks among the biggest losers in the period.
The lenders collectively made Sh194.8 billion in gross profit last year, which given their continued efforts to cut costs should translate into record net earnings.
– Business Daily