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Kenya back to stability, markets and shilling ready to strenghten

After Supreme Court verdict, there's optimism for economic future

22-11-2017 by redazione

In the aftermath of the Supreme Court ruling, which legally put an end to the election issue and Kenyatta's new five-year mandate, which has been awaited for three and a half months, the reaction of Kenyatta's economic environment is more than positive.
In two days the local currency, the Kenyan shilling, has strengthened by almost a point against the dollar, falling from 103 percent, which was not the case since last May. The shilling has also strengthened by one point against the euro.
The trend, according to the directors of the main banks and as reported in the "Business Daily"economic newspaper, is on the rise and is set to reactivate the import-export market and to have a positive effect on inflation.
The issue of public debt and investment is more delicate: this period of stalemate and social uncertainty, also linked to the next moves of the opposition, suggests cautious optimism to investment funds and large companies.
But it is already a good sign that from yesterday in Nairobi and Mombasa started moving in the direction put on stand-by a few months ago.
Experts expect to recover part of the damage that the country has suffered as a result of the political situation in 2018.
Speaking at an economic meeting in London, the director of the National Security Exchange (the Kenyan Monetary Fund), Geoffrey Odundo expressed his confidence that, as soon as possible, they could resume interrupted speeches on important foreign orders, especially in the energy and infrastructure sectors, which alone could be the driving force for a prompt economic recovery.

TAGS: scellino kenyamercato kenyaeconomia kenyamoneta kenyaimportazioni kenyainflazione kenyaaffari kenya

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