Nairobi, Sept. 1 -- Investors on the Nairobi Securities Exchange (NSE) are snubbing a scheme that allows for lending and borrowing of securities, put off by a rally in share prices.

The scheme, also known as the Securities Lending and Borrowing (SLB) programme, is a regulated financial process where an investor temporarily transfers shares or bonds to another party for a fee.

Under this arrangement, commonly referred to as 'short-selling', traders borrow shares to sell them immediately, hoping the price will drop so that they can buy them back cheaper and make a profit.

But with the prolonged bull market run on the NSE, borrowing shares has become risky, and investors are scared that if they borrow a stock, its price could jump even hi...