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On The Money

John Ngari works for CfC Stanbic Bank, part of Standard Bank as a Corporate Banker, having been in the Corporate Banking for 4 years working with International Banks in Kenya. Follow him on twitter @augustinengare

John Augustine Ngari

Kenyan Central Bank cuts borrowing target, signals intent to end high interest rate era

Kenyan Central Bank cuts borrowing target, signals intent to end high interest rate era

Interest Rate Movements – Kenya; Source – Central Bank of Kenya In the past week, the Kenyan Treasury through the Central Bank of Kenya (CBK) has made perhaps one of the more concrete steps to curb the rise in interest rates, a key concern that had rocked Kenyans’ view and optimism in growing the economy […]

Why the adoption of the Chinese Yuan as a reserve currency in Africa is causing a stir?

Why the adoption of the Chinese Yuan as a reserve currency in Africa is causing a stir?

In December, Zimbabwe added the Chinese Yuan (RMB) to its basket of currencies, in addition to the dollar, pound sterling and the rand. This decision follows the International Monetary Fund’s admission of the yuan into its benchmark special drawing rights (SDR) currency basket in November 2015, which will become effective in October 2016. Zimbabwe’s Finance […]

What’s in store for Kenya’s economy in 2016?

What’s in store for Kenya’s economy in 2016?

After navigating through a rough and mixed 2015, the 40 million ordinary Kenyans and analysts are pondering heavily on what 2016 holds for the resilient economy of the East African economic powerhouse. This comes against the background of a turbulent 2015 that saw Inflation rates hit the highest rate in over 36 months, Kenya Shilling […]

Kenya’s Central Bank raises benchmark rate shore up shilling

Kenya’s Central Bank raises benchmark rate shore up shilling

Central Bank of Kenya’s Monetary Policy Committee has decided to raise the benchmark lending rate from 8.5 per cent to 10 per cent, the first increase since 2011. The decision, made at a meeting of the MPC called a month earlier than scheduled, is meant to address inflation fears and shore up the battered Kenya […]

Kenya Airways – turbulent times and trouble in the skies

Kenya Airways – turbulent times and trouble in the skies

NAIROBI – Kenya Airways, the Kenyan National Carrier and once acclaimed most profitable airline in the continent and winner of the ‘Most Respected Company in East Africa’ has been facing perhaps the strongest headwinds since its privatization in 1995. From lower tourist numbers in Kenya due to insecurity fears, disruptions of operations in West Africa […]

Kenyan Coffee: the once acclaimed black gold losing its place in the economic pecking order

Kenyan Coffee: the once acclaimed black gold losing its place in the economic pecking order

The coffee industry in Kenya is noted for its cooperative system of production, processing, milling, marketing, and auction system. About 70% of Kenyan coffee is produced by small- scale holders. It was estimated in 2012 that there were about 150,000 coffee and farmers in Kenya and other estimates are that six million Kenyans were employed […]

Construction, transport, and ICT sectors driving Kenyan Economy

Construction, transport, and ICT sectors driving Kenyan Economy

  The Kenya Government through the Ministry of Devolution and Planning, and Kenya National Bureau of Statistics (KNBS) released on 29th June the Kenya Economic Survey 2015 – a comprehensive view of the past year’s economic performance based on information collated from Government ministries, fiscal and monetary policymakers and championed by the KNBS. The Economic […]

Kenya expenditure plan set at KES 2 trillion in 2015/16

Kenya expenditure plan set at KES 2 trillion in 2015/16

  The Kenyan government has made public its intention to stay on the path of expansionary budget with the release of next year’s expenditure estimates showing that public spending will rise by a quarter to KES 2.17 trillion ($ 21.5 b), an increase of over 25% from the 2014/15 budget of KES 1.6 Billion. The […]

Kenya Shilling under siege, hits 3-year low

Kenya Shilling under siege, hits 3-year low

  NAIROBI-The Kenya Shilling Exchange Rate against the US Dollar has been trending at three-year lows for the past 2 weeks, in a situation that has gotten traders, Kenyans, and Monetary Policy makers concerned. To these players, the memory of the 2011 period is still fresh; a period when the KES depreciated 25% against the […]

Rain Fed Economy – Why Economists and Kenyans are looking to the skies for a living

Rain Fed Economy – Why Economists and Kenyans are looking to the skies for a living

NAIROBI – The Kenyan Economy is largely dependent on rain, or at least the abundance of it. From rain fed agriculture that determines the cost of the food basket (that determines livelihood of farmers and the agriculture ecosystems), to hydro power systems that constitute about 47% of the country’s power supply, the economic outlook has […]

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