Kenya Beats Nigeria in Stock-Trading for the First Time

NAIROBI (Capital Markets in Africa) – Investors put more money into Kenyan stocks than Nigeria’s for the first time on record in September. The value of shares traded on Nigeria’s exchange fell to $139 million, near the lowest since Bloomberg began compiling such data in 2009, as foreign investors shunned an economy battered by militant attacks on oil facilities and shortages of foreign-exchange. In Kenya, with an economy an eighth the size of Nigeria’s but set to grow almost 6 percent this year, the value rose 4.2 percent from August to $152 million.