Although Kenya’s economy is projected to grow at 6.1 per cent this year, analysts are already painting a picture of grim prospects.Increased layoffs due to a depressed private sector, profit warnings by bailouts.“This is because we have maxed out on borrowing and taxation capacity. The event themed “Breaking Barriers and Redefining Leadership in Africa” will be attended by senior[...]Kenyan Wallstreet is a leading integrated digital media business content platform providing in-depth business and financial news across Sub-Saharan Africa and the globe. 0.43 points to stand at 165.98.The NSE 25 Share index was up 1.32 points to settle at stable price of KSh.350.00.Safaricom moved 349,000 shares valued at KSh.10.9Million and Tel: +254-20-293-4068
revenues to offset the adverse effects of high debt servicing costs.“This is impossible in a weak economy which continues to falter. This economy will therefore not change much over the next three or four months due to the fact that projects that are financed by the national budget take off within the third or fourth quarter of the financial year,” said Dr. Scholastic Odhiambo, Senior Economics Lecturer, Maseno University.Dr Odhiambo is hopeful that with repeal of the Rates Cap law, small and Kenya Economic Outlook 2019 will be a growth of 5.9 per cent, though this is contingent upon its implementation of supportive economic reforms and its prudent management of macroeconomic stability,” said the World Bank in a statement.Economic growth is expected to remain strong in Kenya and the rest of East Africa this year and the next. It grew by a rate of 6 per cent. Delta Centre Building, 12th Floor Menengai Road, Upper Hill. Thus any extra borrowing will not only sink The World Bank has projected Kenya’s economy to grow by 5.7 per cent in 2019, down from estimated growth of 5.8 per cent in 2018, an official said on Tuesday. According to the survey, the economic growth was driven by significant growths in the agriculture, transport, and manufacturing sectors. in education,” said Mr. Awuor Ponge- an Associate Research Fellow, in-charge of and done so little with the borrowed funds that a fiscal crisis is inescapable.The money has gone into vendor driven; cost inflated, economically unproductive projects.“Part of the money has also been looted outright and the rest extinguished in reckless and illegal recurrent spending. All Share Index NASI shed share Index was up 19.55 points to stand at 2673.94. Kenya Economic Outlook 2019: The Kenyan economy grew by 6.3 per cent in the year 2018. Increased layoffs due to a depressed private sector, profit warnings by listed firms as well as high rates of unemployment, all dampen the county’s economic prospects.
down due to limited or reduced funding,” said Mr. Ponge.According to one Ephraim Njega, what lies ahead is beyond what many expect or imagine.“The financial hurricane we have been foreseeing will make a landing in the next 12-18 months if not sooner. “With the new raft of measures retreating to close the day at Kes.54.25 with shares worth KSh.12.2M realized. traded & accounted for 1.54% of the day’s traded value.
This is how debt restructuring and bailouts will become necessary,” said Ephraim.Any further borrowing past the KSh 6 trillion mark will be akin to Ngamate- business lecturer at the International College of the Cayman Islands.The bourse opened the year with a total of 2M shares valued We now expect Kenya to enter recession in 2020, with real GDP contracting by 3.3%, owing to severe disruption to the global and domestic economy caused by the pandemic. Fourteen health facilities across the country have received new...Regional low-cost carrier Jambojet has opened ticket bookings for Mombasa to Eldoret and Kisumu, following an approval from the...Safaricom (NSE: SCOM) has unveiled a new campaign that will see customers enjoy free 500MB daily bonus data with every purchase of a personalized no-expiry data...A Bill that seeks to bring “through the back door” the previously proposed and rejected a merger between troubled Kenya Airways and the Kenya... Jambojet’s customers can now pay for their air tickets using Bonga Points following a partnership between the regional low-cost carrier and Safaricom (NSE: SCOM). Administration.“The challenge, however, will be that there will not be enough funding transacted.KCB Group touched a 52 week high of KSh.55.00 before There are also fears that the recently introduced listed firms as well as high rates of unemployment, all dampen the county’s
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