Stock brokerage firmsBetween 2007 and 2010, there had been a bloodbath for investors when four leading stock brokerage firms fell. 27,879 investors lost millions of shillings in the debacle. Nyaga Stockbrokers, for instance, which controlled 25 per cent of the market back then, went down with Sh1.3 billion of investors’ money. Back then, it was reported that the worst hit were retirees who lost their entire life savings, retirement funds, through these firms. Lehman Brothers, which was the fourth largest investment bank in the United States filed for bankruptcy in 2008.

Source: Standard Digital April 27, 2021 15:36 UTC