Bear run at the stock market is your turn to invest, says NSE chief

Money Markets

Nairobi Securities Exchange (NSE) chief executive officer Geoffrey Odundo. PHOTO | FILE 

By BRIAN NGUGI

In Summary

• NSE boss Geoffrey Odundo played down investor jitters around the upcoming general election.
• Mr Odundo said the fundamentals of the Kenyan economy look strong with growth prospects remaining high

The bear run at the Nairobi Securities Exchange (NSE) is temporary and presents a great opportunity for investors to get into the market, NSE chief executive officer Geoffrey Odundo has said.

He played down investor jitters around the upcoming general election, adding that the fundamentals of the Kenyan economy look strong with growth prospects remaining high.

“We are in a cycle that has great opportunity. At this time there are good prices and I urge Kenyans to take advantage of the opportunities,” said Mr Odundo.

“I expect huge buys as the market is now on a low and investors look to buy at discounted prices.”

Mr Odundo was speaking in Nairobi when the NSE launched the 2017 NSE Investment Challenge.

The NSE yearly challenge, which is in its ninth year, is aimed at inculcating an investment culture in the youth now at universities and tertiary institutions.

Mr Odundo said the bourse had identified the youth as a critical segment to foster financial literacy. The three winners of last year competition walked away with Sh600,000 in cash prizes.

The overall winner was Mutua Franklin Muthangya from the University of Nairobi.

Joseph Kiio and Catherine Njoroge, both from Kenyatta University took the first runners-up and second runners-up positions.