Friday, February 29, 2008 13:29
Speaking of inequitable distribution of resources……….9 out of the 24 licensed brokerage houses in Kenya account for about 70% of the business that goes through the Nairobi Stock Exchange. Ranking in terms of turnover is as follows:
1. Dyer & Blair Investment Bank
2. Standard Investment Bank
3. CFC Financial Services
4. Apex Securities Ltd
5. Nyaga Stockbrokers (in the red)
6. Kestrel Capital
7. Faida Investment Bank
8. Suntra Investment Bank
9. Discount Securities Ltd
Please note,turnover for the top 9 does not include the hundreds of millions they raked in from transaction advisory services and professional services on listings,mergers,acquisitions e.t.c.
Bottom three – Bob Mathews,Solid Investments and Crossfield Securities. 15 brokerage houses controlling only 30% of the market share means less commissions for them,which results in a strain in meeting their cost of operations which ultimately results to a search by these brokers for additional avenues of income and thus trading malpractices.
PENTAGON - supremely and idiotically naive
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