Kenya's Safaricom woos foreign investors back to bourse

Kenya's leading telecom operator, Safaricom edged up 0.32 percent to trade 25 million shares on Wednesday at a new high of 0.18 U.S dollars as the telecom lifted turnover at Nairobi Securities Exchange (NSE) for the second day running.

The telecom mainly attracted inflows, wooing foreign investors back to the bourse.

Some 47 million shares worth 10 million dollars were traded at the bourse, down from 48 million shares worth 11 million dollars Tuesday.

The banking sector was the second top trader after the telecommunication, moving over 10 million shares in total as it attracted foreign outflows.

Equity Bank, in the category, traded 12 million shares after going down marginally to 0.32 dollars.

Cooperative Bank, on the other hand, traded 5.14 million shares at a low of 0.15 dollars while Kenya Commercial Bank went up to trade slightly above 0.32 dollars and moved about a million shares.

In the energy category, KenolKobil was the biggest day's mover, trading about 600,000 shares.

The NSE 20 Share Index maintained its 51-month low performance as it closed the day at 3,520 points as prices of key stocks plunged slightly. Endit