Geoffrey Odundo on how the NSE is responding to COVID-19 crisis

The values of blue chip companies on the Nairobi Securities Exchange have shown resilience despite the challenges posed by the COVID-19 pandemic. In a recent interview with CNBC Africa, Geoffrey Odundo, the Chief Executive Officer at the Nairobi Securities Exchange (NSE), shared insights on the market's performance and strategies employed to navigate through the crisis. Odundo highlighted the impact of the pandemic on the market, citing a significant drop in market values at the onset of the crisis earlier this year, with a 25% decline since the beginning of 2020. The precipitation of the COVID-19 crisis in March led to a reduction in trading volumes by international investors, prompting the institute of a market hold. This resulted in price depressions and uncertainties among investors, leading to anxieties in the market. However, Odundo noted a positive turnaround as local investors seized the opportunity to invest, resulting in improved trading volumes despite the challenges faced. The market saw relatively better volumes compared to the previous year, surpassing projections amid the ongoing crisis.