Waiting KCB @7 bob

For me, 15 and below would be too tempting to ignore. Looking more and more likely with each passing day. But won't lose any sleep if the stock rebounds and I miss the current opportunity. Cash remains king.

In the last few years of the Moi error, specifically 2001, i used to pass by the NSE in town on my way from work to collect the price list as internet was foreign to both myself and NSE.
I remember KCB at KES.8 for a very long time in the last 2 years of his presidency.
Seeing KCB going back to these levels scares me greatly.
Clowns like @Realtreaty and his ilk, now stationed at the green section must be very happy seeing this.

is it the market being irrational or things are that bad? I guess in Kenya NPLs will be huge but I thought their subsidiaries are doing quite well , atleast we saw Tanzania (albeit small in the big picture) and then DRC

Several reasons:
1) Foreigners fleeing to cut their FX losses.
2) Broke government that is in constant competition with
the private sector for cash. Currently the IFB/2023/6.5 is the talk in town with every wanjiku rushing towards it. the last IFB in July took out 213B from the markets and the current one isn't going to be any different.
3) A government that has refused to reduce its expenditure and is operating like we are in the Kibaki years, as such widening the deficit levels and this money has to come from somewhere.....either taxes or debt.
4) Strong USD.
5) Less disposable income
6) As you've rightfully said, high NPL's and a very difficult business environment that's full of red tape, excess taxation, political uncertainties, wanton corruption and pilferage of funds etc etc...

Mambo ni matatu