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Kenya Economy Watch
Rank: Chief Joined: 5/31/2011 Posts: 5,121
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October inflation ease 53bp to 7.76% driven by a decline in food prices >>> http://www.knbs.or.ke/cpi/cpi102013.pdf
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Monetary Policy Committee (MPC) Meeting coming up on Tuesday, 5th November, 2013
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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• Kenya’s gross public debt has hit a new high of Sh2.1 trillion, equivalent to 56.2 per cent of the gross domestic product • Domestic debt rose by Sh51.44 billion in September to stand at Sh1.17 trillion while external loans climbed by Sh1.77 billion to Sh889.31 billion • Both the International Monetary Fund (IMF) and the Central Bank of Kenya (CBK) have maintained that the country’s debt is sustainable, citing the net government borrowing ratio of just about 50 per cent, even as the gross borrowings have hit more than 50 per cent. • During last month’s conference on Kenya’s economy, the CBK deputy governor Harun Sirma said the ratio of Kenya’s nominal debt to GDP has been declining from 77.4 per cent in 2000, yet the country has not received any external debt relief—citing it as a reflection of strong sustainability. http://www.businessdailyafrica....4/-/beelqez/-/index.html
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Toward greater regional stability & prosperity? State in deal to return Somalia refugees home http://www.the-star.co.k...rn-somalia-refugees-home
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Tea & coffee prices hit 7 year low, while tourism revenues have also dipped and the economic growth is behind forecasts. Current account deficit issue coming up. The KES strength will need the above to recover pronto. Should the eurobond be delayed this fin yr, KES will start feeling the effects of forex reserve drought. Interbank rates... Keep an eye on this as well as tbills rate spikes and food inflation. They can easily ruin the NSE bull party suddenly... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 5/9/2007 Posts: 13,095
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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mwekez@ji wrote:murchr wrote:PPS wrote: Kenya signs agreements worth KShs 425 billion with China
By Kazungu Chai
BEIJING, Aug 19 (PSCU) – Kenya signed agreements worth $5 billion (KShs 425 billion) with China on Monday, on the day President Uhuru Kenyatta was accorded a formal welcome including a 21-gun salute at the Great Hall of the People, the most iconic building in China.
Some $4 billion covered economic partnerships, wildlife protection, and the standard gauge railway linking the port of Mombasa and the border town of Malaba, which President Uhuru Kenyatta said would provide better access to markets to goods from Kenya as well as Uganda Rwanda, Burundi and eastern Democratic Republic of the Congo.
Another $1 billion was for energy-related projects.
The agreements were a massive boost to the Jubilee Government, which has pledged to improve the lives of ordinary Kenyans through better service delivery that is underpinned by increased investments in all sectors of
the economy.
“These agreements deepen our practical cooperation,” President Xi told President Kenyatta shortly before the agreements were signed. “China supports Kenya’s quest for industrialization.”
President Xi said China was also exploring other areas of investment, including in agribusiness, irrigation, fertilizer production and purchases, and technology.
President Xi said China would also support Kenya’s plans to host a clearing house for the Chinese renminbi currency in Nairobi – greatly boosting the Kenyan capitals credentials as a leading financial hub.
“We welcome the investment in key sectors of our economy. The rail link, particularly, is important in the context of East Africa’s shared goal of ensuring quicker movement of peoples, goods and services,” President
Kenyatta said.
Presidents Xi and Kenyatta pledged to increase contact between China’s ruling party and Kenya’s ruling Jubilee coalition. They agreed that party-to-party contact was essential to bolster political and economic partnerships.
($1=Kshs 85)
Ends…  At least 75 parastatals face shake-up in the next three weeks following recommendation by a team of experts appointed by President Uhuru Kenyatta six months ago. The team handed its report to President Uhuru Kenyatta yesterday recommending dissolution, merger or transfer of some functions of State Corporations to counties, ultimately trimming their number from 262 to 187. A total of 42 parastatals- mostly in agricultural sector - will be dissolved, 28 others will be merged while 22 others will have their roles transferred to other institutions. Another list of 21 corporations will be dropped from the list of State Corporation’s altogether, to be reclassified as professional bodies. The report was compiled by the Presidential Task Force on Parastatals Reforms appointed by President Kenyatta in July to advise on restructuring plan. The ten-member team was co-chaired by President’s constitutional affairs adviser Abdikadir Mohammed and the Commercial Bank of Africa’s CEO Isaac Awuondo. http://www.businessdaily...50/-/1xw6fn/-/index.html"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Falling interest rates, credit uptake and strong shilling lift Kenyan economy"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Germany targets Kenyan acquisitionsSoon the NSE will be like RSE with one or 2 stocks http://www.the-star.co.k...has-clearly-become-trend"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Will KPLC get that tariff hike? http://www.businessdaily.../-/dv0ogkz/-/index.html
Consumption tax everywhere. Power hike, weak GDP and wide current account deficit continued into 2014 will pull the handbrake on equities... KES saving grace remains eurobond as well as FDI spike due to mining etc. Tourism and agri revenues (egypt yet again like in 2010) are on the back foot unless diaspora remittance provides the expected fx shortfall. KES has been resilient with all the headwinds. But for how long after the election euphoria... Repeating 2011 with a frothy global econ will not be an interesting outcome at this 5000 lofty height... Interbank rate spike, inflation spike and KES back to 90 vs USD should be the warning signs for bulls if sustained for more than a quarter (3 mths). $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 8/16/2012 Posts: 660
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Live and learn; and don’t forget, nothing ventured, nothing gained.
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Rank: Member Joined: 4/14/2011 Posts: 639
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hisah wrote:Will KPLC get that tariff hike? http://www.businessdaily.../-/dv0ogkz/-/index.html
Consumption tax everywhere. Power hike, weak GDP and wide current account deficit continued into 2014 will pull the handbrake on equities... KES saving grace remains eurobond as well as FDI spike due to mining etc. Tourism and agri revenues (egypt yet again like in 2010) are on the back foot unless diaspora remittance provides the expected fx shortfall. KES has been resilient with all the headwinds. But for how long after the election euphoria... Repeating 2011 with a frothy global econ will not be an interesting outcome at this 5000 lofty height... Interbank rate spike, inflation spike and KES back to 90 vs USD should be the warning signs for bulls if sustained for more than a quarter (3 mths). @Hisah have you seen this?A nyc surprise answer to ur concerns I think. http://www.businessdaily.../-/qc9ojmz/-/index.html
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Rank: Member Joined: 2/9/2012 Posts: 576
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mwekez@ji wrote:GDP Growth Rate:
2005; 5.9%
2007; 7.0%
2009; 2.7%
2010; 5.8%
2011; 4.4%
2012; 4.6%
2013; 6.0% (projected)
10% coming soon 2008? Africa belongs to Africans.
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Tuseme Uncle Barry heard our grumbles? POTUS on Africa - "The more, the merrier." Nairobi to host US’s Power Africa project http://www.nation.co.ke/...a-project/-/996/2081840
Sababu zinginezo; “Kenya is the second most populous country in the region; it has a young, ambitious and well-educated workforce — eager to contribute to development of the country,” reads the introduction in part.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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The number of multi-millionaires in Nairobi is set to increase by more than half in the next seven years, outpacing growth in some of the most developed countries in the world. This trend follows the growth of Africa’s super-rich, with statistics showing that the region’s segment of high-net-worth individuals grew by 9.9 per cent in 2012, the second-highest in the world after North America, and above the global average of 9.2 per cent. According to the latest World Wealth Report by the consulting firm Capgemini, the number of dollar millionaires (people with a net worth over $1 million (about Sh85 million) in Nairobi is expected to increase 62 per cent to over 8,000 from about 5,000 currently by 2020. http://www.nation.co.ke/...8/-/o8v32uz/-/index.html"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Kenya could shoulder a heavy bill for the Mombasa refinery if it accepts a proposal by Essar Energy as the Indian conglomerate exits from the facility. Essar, the government’s partner in the Kenya Petroleum Refineries Ltd-run facility, wants the government to take over debts owed to banks and other creditors. http://www.theeastafrica...24/-/yx5h32/-/index.html"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Hunderwear wrote:hisah wrote:Will KPLC get that tariff hike? http://www.businessdaily.../-/dv0ogkz/-/index.html
Consumption tax everywhere. Power hike, weak GDP and wide current account deficit continued into 2014 will pull the handbrake on equities... KES saving grace remains eurobond as well as FDI spike due to mining etc. Tourism and agri revenues (egypt yet again like in 2010) are on the back foot unless diaspora remittance provides the expected fx shortfall. KES has been resilient with all the headwinds. But for how long after the election euphoria... Repeating 2011 with a frothy global econ will not be an interesting outcome at this 5000 lofty height... Interbank rate spike, inflation spike and KES back to 90 vs USD should be the warning signs for bulls if sustained for more than a quarter (3 mths). @Hisah have you seen this?A nyc surprise answer to ur concerns I think. http://www.businessdaily.../-/qc9ojmz/-/index.html
http://www.businessdaily...8/-/cxpn0t/-/index.html
This power hike thing I dont like.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Let's see if we can spin this one. If a consumer is used to paying 4,000 for electricity but (more than) half of that has been fuel costs and later pays the same 4,000 for pure* electricity but which costs a bit more (tariff wise) - is there any relief in real terms?
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Cde Monomotapa wrote:Let's see if we can spin this one. If a consumer is used to paying 4,000 for electricity but (more than) half of that has been fuel costs and later pays the same 4,000 for pure* electricity but which costs a bit more (tariff wise) - is there any relief in real terms? Wanjiku version: Let's say we've been buying half a loaf for 70 but later we pay 80 for a full loaf. Deal or no deal?
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