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Kenya Economy Watch
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maka
#81 Posted : Thursday, June 20, 2013 12:07:04 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Kausha wrote:
Mwau should be sincere, Kenya can not be lent 220 billion in Euros, that would be a junk bond! 85B is more like it.

we actually can in kshs...thats what he meant.
possunt quia posse videntur
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hisah
#82 Posted : Thursday, June 20, 2013 12:10:03 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
mwekez@ji wrote:
World Bank emphasis on exports growth is genuine and for the good of the country. I dont see malicious intent in this call. May the government take heed

The export growth part is not the issue. The KES devaluation reco is the issue. Hii nimekataa...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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maka
#83 Posted : Thursday, June 20, 2013 12:20:06 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
hisah wrote:
mwekez@ji wrote:
World Bank emphasis on exports growth is genuine and for the good of the country. I dont see malicious intent in this call. May the government take heed

The export growth part is not the issue. The KES devaluation reco is the issue. Hii nimekataa...

The deficit on visible trade balance can..be countered by a surplus on the invisible account...export services this will strengthen BoP
possunt quia posse videntur
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Kausha
#84 Posted : Thursday, June 20, 2013 2:32:29 PM
Rank: Member


Joined: 2/8/2007
Posts: 808
@hisah even at $2.5 billion that is already a Junk bond. Look at our current account and see why it would never fly. Debt capacity is linked to several factors and current account position is one of the key ones.
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mwekez@ji
#85 Posted : Thursday, June 20, 2013 5:04:06 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Kausha wrote:
@hisah even at $2.5 billion that is already a Junk bond. Look at our current account and see why it would never fly. Debt capacity is linked to several factors and current account position is one of the key ones.


@Kausha you underestimate our economy. We are currently having a very sustainable debt of KES 1.8T which is about 46% of nominal GDP. KES 200B ($2.5B) euro debt is not much to break a regional economic power that we are. I say, like @hisah, we can do KES 200B ($2.5B) euro bond
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symbols
#86 Posted : Friday, June 21, 2013 2:55:17 AM
Rank: Elder


Joined: 3/19/2013
Posts: 2,552
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mwekez@ji
#87 Posted : Friday, June 21, 2013 9:09:46 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
symbols wrote:
Kenya public debt to hit Sh2.4 trillion in three years time


... & debt/gdp ratio shall reduce to 43.9%. says our economy has capacity to borrow much more if need be smile
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maka
#88 Posted : Friday, June 21, 2013 10:53:37 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
mwekez@ji wrote:
Kausha wrote:
@hisah even at $2.5 billion that is already a Junk bond. Look at our current account and see why it would never fly. Debt capacity is linked to several factors and current account position is one of the key ones.


@Kausha you underestimate our economy. We are currently having a very sustainable debt of KES 1.8T which is about 46% of nominal GDP. KES 200B ($2.5B) euro debt is not much to break a regional economic power that we are. I say, like @hisah, we can do KES 200B ($2.5B) euro bond

Rwanda with a credit rating of B(S&P and Fitch) borrowed 400m USD at 6.5%,their TE is 30...Kenya with a credit rating of B+ (S&P and Fitch) though with a lower TE of 21.5 can surely get 2.5 B Euros taken up quite easily...we are a bigger and stronger economy than the Rwandan one...
possunt quia posse videntur
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mwekez@ji
#89 Posted : Friday, June 21, 2013 11:50:07 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
maka wrote:
mwekez@ji wrote:
Kausha wrote:
@hisah even at $2.5 billion that is already a Junk bond. Look at our current account and see why it would never fly. Debt capacity is linked to several factors and current account position is one of the key ones.


@Kausha you underestimate our economy. We are currently having a very sustainable debt of KES 1.8T which is about 46% of nominal GDP. KES 200B ($2.5B) euro debt is not much to break a regional economic power that we are. I say, like @hisah, we can do KES 200B ($2.5B) euro bond

Rwanda with a credit rating of B(S&P and Fitch) borrowed 400m USD at 6.5%,their TE is 30...Kenya with a credit rating of B+ (S&P and Fitch) though with a lower TE of 21.5 can surely get 2.5 B Euros taken up quite easily...we are a bigger and stronger economy than the Rwandan one...


... also to add, rwanda euro bond attracted offers for over $3.5B against the $400M they wanted. That speaks alot for our euro bond which will be taken up quite easily as said
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mwekez@ji
#90 Posted : Friday, June 21, 2013 1:24:23 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Mombasa Port gets Sh4b grant

The United Kingdom has injected Sh4 billion (US$53 million) to modernise the port of Mombasa.

British High Commissioner Christian Turner said Kenya can achieve a double digit economic growth if it addresses port efficiency.

He said the money released through Trade Mark East Africa would help reduce cargo delays by three to four days.

He backed a directive by President Uhuru Kenyatta to all Government agencies at the port to improve efficiency. Acting Kenya Ports Authority managing director Joseph Atonga welcomed the UK gesture.

http://www.standardmedia.co.ke/...asa-port-gets-sh4b-grant
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hisah
#91 Posted : Saturday, June 22, 2013 11:40:45 AM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
http://www.nation.co.ke/...-/123q7ipz/-/index.html

Quote:
There is a silent revolution under way, which is transforming Kenya for the better. Hardly a week goes by in Nairobi without an African investors’ conference or a growth summit.

Silicon Valley companies are flocking in Kenya to learn about the ICT revolution taking place in the East Africa’s “Silicon Savannah”. Investors looking out for new growth markets are increasingly looking at Africa’s potential.

The macroeconomic environment was never as good as it is today. Indeed, if Kenya was in the EU, it would have one of the Union’s lowest debt levels. For the first time, it seems that sustainable development is within reach in Kenya.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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symbols
#92 Posted : Saturday, June 22, 2013 11:50:35 AM
Rank: Elder


Joined: 3/19/2013
Posts: 2,552
hisah wrote:
http://www.nation.co.ke/oped/Opinion/Kenya-economy-is-on-the-runway-waiting-to-take-off/-/440808/1890570/-/123q7ipz/-/index.html

Quote:
There is a silent revolution under way, which is transforming Kenya for the better. Hardly a week goes by in Nairobi without an African investors’ conference or a growth summit.

Silicon Valley companies are flocking in Kenya to learn about the ICT revolution taking place in the East Africa’s “Silicon Savannah”. Investors looking out for new growth markets are increasingly looking at Africa’s potential.

The macroeconomic environment was never as good as it is today. Indeed, if Kenya was in the EU, it would have one of the Union’s lowest debt levels. For the first time, it seems that sustainable development is within reach in Kenya.


Shift Kenya's economic model to fasten growth urges NESC advisor

Quote:
A shift towards a technology-based model could fasten Kenya’s economic growth, a government advisor has said and warned against the country’s continued reliance on agriculture.
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hisah
#93 Posted : Saturday, June 22, 2013 12:35:15 PM
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Joined: 8/4/2010
Posts: 8,977
State to setup fund to boost exports - http://www.nation.co.ke/.../-/d9wpl4z/-/index.html

Such strategies are what is required to form platforms for the econ.

I hope that KES devaluation talk goes away. It serves no purpose at the moment until those platforms are fully setup.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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symbols
#94 Posted : Saturday, June 22, 2013 5:23:40 PM
Rank: Elder


Joined: 3/19/2013
Posts: 2,552
Stakeholders ask for more cash to market tourism

Quote:
The decline has been attributed to insecurity fears across the country, the eurozone debt crisis in traditional source market and uncertainties surrounding the just concluded General Election.


How will more marketing eradicate insecurity or the eurozone crisis
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symbols
#95 Posted : Sunday, June 23, 2013 10:28:30 PM
Rank: Elder


Joined: 3/19/2013
Posts: 2,552
hisah wrote:
State to setup fund to boost exports - http://www.nation.co.ke/.../-/d9wpl4z/-/index.html

Such strategies are what is required to form platforms for the econ.

I hope that KES devaluation talk goes away. It serves no purpose at the moment until those platforms are fully setup.


Kenya steps up pursuit of the African export market
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hisah
#96 Posted : Monday, June 24, 2013 6:55:23 AM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
SME fund to raise cheap loans - http://www.businessdaily.../-/p250c5z/-/index.html

Nice ideas coming up smile
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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mwekez@ji
#97 Posted : Monday, June 24, 2013 12:27:39 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
CBK MPC meeting on 9th July 2013 #WatchingThem >>> http://www.centralbank.go.ke/in...hp/date-for-next-meeting
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symbols
#98 Posted : Monday, June 24, 2013 7:44:28 PM
Rank: Elder


Joined: 3/19/2013
Posts: 2,552
Kenyan teachers to strike, ignoring calls for wage restraint

Funny how the future of Kenya is being sidelined.
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mwekez@ji
#99 Posted : Wednesday, June 26, 2013 9:06:12 AM
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Joined: 5/31/2011
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mwekez@ji
#100 Posted : Wednesday, June 26, 2013 9:10:16 AM
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Joined: 5/31/2011
Posts: 5,121
Treasury sets Sh85bn target for international bond


The government Tuesday confirmed that it would seek $1 billion (Sh85 billion) through a sovereign bond from international lenders.

It set off the search for transaction advisors for what is set to be Kenya’s maiden eurobond issue.

The Treasury has harboured plans to issue a sovereign bond for more than six years, but the call for applications for lead counsel and manager is the clearest indication that it will pursue the loan in this year.

“The government is considering accessing the international capital markets by the second half of the calendar year 2013 to issue a sovereign bond. The targeted amount is provisionally set at $1,000 million,” reads part of an advertisement published in Tuesday’s newspapers.

The amount will be used for infrastructure development
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