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Kenya’s economy: damaged but defiant a year after Westgate attack

But Kenya has bounced back before, including after Al-Qaeda’s bombing of the US embassy in Nairobi in 1998, as well as post-election violence following contested polls in 2007.

Shares in the operator of Kenya’s stock market, Nairobi Securities Exchange, were rapidly snapped up when they debuted earlier this month, subscribed six times over.

“Kenya’s economy has exhibited outstanding resilience post Westgate,” Satchu said.

“The Nairobi All-Share Index has rallied more than 30 percent since Westgate, and that is a major signal,” he said, adding that Kenya’s Eurobond offer “was massively oversubscribed.”

At Westgate today, bullet holes are still visible on the boarded up building, and ornamental plants appear to have grown wild around the terrace cafes where Kenyans and foreigners once mingled over expensive coffees and wine.

Shah says reconstruction is ongoing but the structural damage was enormous, with the back of the building collapsed under tonnes of rubble.

He still remains hopeful for Kenya.

“We will recover one day, and pray something like this will never happen again,” Shah said.

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