The secondary bonds market at the Nairobi Securities Exchange opened the year on a slower rate compared to 2015, as investors bid heavily for primary Treasury bills.
Meanwhile, the Competition Authority of Kenya is conducting fresh investigation into products’ pricing by Kenyan banks. Aly-Khan Satchu, CEO of Rich Management spoke to CNBC Africa on this.
Read highlights from conversation below
“I call it the Teflon shilling because everything else is falling apart and the shilling holds its own. And I think that’s an important signal in the noise. I expect the shilling to go into double digits over the next few weeks.”
– Aly-Khan Satchu, CEO of Rich Management.
“Essentially it’s all about the current account deficit where we’ve had such a dramatic turnaround because of the crude oil price.”
– Aly-Khan Satchu, CEO of Rich Management.
“On the export side, last year there was quite a good story about tea. Tea exports surged by a big deal and soft commodity prices are a sweet spot in the commodity complex, so even the exports will hold up. Obviously tourism is still a problem but I think that’s bottoming out as well.”
Aly-Khan Satchu, CEO of Rich Management.
Source: CNBC Africa
