Wazua
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Kenya Economy Watch
Rank: Elder Joined: 6/23/2009 Posts: 14,226 Location: nairobi
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mnandii wrote:hisah wrote: CBK Q2 2014 banking report shows profits are still on the rise for banks. However, the NPLs have refused to deflate. Out of the 11 econ sectors, 8 continue to post rising NPLs. Quite sad to see that those among the struggling sectors are trade, manufacturing, tourism, transport and household while inflation is on the rise. Only agri and mining didn't post increased NPLs. How will banks continue posting double digit profits in this environment? And so I continue avoiding the banking counters... http://tinyurl.com/lgdv96a Quite a concern for Kenya. the adequacy of bank's capital is wanting and this shows in the ratios as discussed on page two of the central bank report. the constant clamor for fall in interest rate by the public will slow down borrowing since most large firms are anticipating a fall in interest prior to placement of any new borrowing requests
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Rank: Member Joined: 10/14/2011 Posts: 661
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Kenya will impose capital-gains and windfall taxes on oil, gas and mining companies within months to ensure the East African nation maximizes benefits from its mineral resources, President Uhuru Kenyatta said. “This is something that we are very clear about,” Kenyatta said “We want to ensure that we as a country also are able to benefit from both the windfall and capital-gains tax.” Kenya, East Africa’s biggest economy, will probably grow at 5 percent this year, the World Bank said in its Global Economic Prospects document on June 11. The lender reduced the prediction to 4.7 percent for 2014 as delayed seasonal rains have curbed agricultural production and worsening insecurity has scared off tourists, it said on June 26. Fitch Ratings affirmed the country’s credit assessment at B+, the fourth-highest non-investment grade, with a stable outlook on July 25. http://www.bloomberg.com...-months.html?cmpid=yhoo
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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So much talk on Power Africa from the world bank and from uncle Barry. I am eagerly waiting to see how these funds will flow and WHERE they will flow to. http://www.capitalfm.co....g-up-sub-saharan-africa
"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: 11/5/2010 Posts: 2,459
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Morning wazuans,
Seems like the talk on cost of credit coming down was just that.
Yesterday's 91-day t-bill auction was undersubscribed and the interest rate was still at 8.2%.
Are they ever likely to get to the amazing 2% of Kibaki years ?
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Rank: Elder Joined: 9/23/2010 Posts: 2,225 Location: Sundowner,Amboseli
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FRM2011 wrote:Morning wazuans,
Seems like the talk on cost of credit coming down was just that.
Yesterday's 91-day t-bill auction was undersubscribed and the interest rate was still at 8.2%.
Are they ever likely to get to the amazing 2% of Kibaki years ? Kibaki was a Keynesian and lived it throughout his regime. The effects were Great in his early years 2003-2007 but we all know what happened in Q4 2011. Now that we went begging to IMF, forget the 2% for now,until we chase them away! IMF = More taxes,more austerity,more pain for the mwananchi,Less Growth! As for this weeks auction being undersubscribed, this points to coming high yields particularly if the Govt's appetite for domestic borrowing remains the same/increases. The converse is true! @SufficientlyP
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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Sufficiently Philanga....thropic wrote:FRM2011 wrote:Morning wazuans,
Seems like the talk on cost of credit coming down was just that.
Yesterday's 91-day t-bill auction was undersubscribed and the interest rate was still at 8.2%.
Are they ever likely to get to the amazing 2% of Kibaki years ? Kibaki was a Keynesian and lived it throughout his regime. The effects were Great in his early years 2003-2007 but we all know what happened in Q4 2011. Now that we went begging to IMF, forget the 2% for now,until we chase them away! IMF = More taxes,more austerity,more pain for the mwananchi,Less Growth! As for this weeks auction being undersubscribed, this points to coming high yields particularly if the Govt's appetite for domestic borrowing remains the same/increases. The converse is true! @...philanga are you Austrian? Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Elder Joined: 9/23/2010 Posts: 2,225 Location: Sundowner,Amboseli
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mnandii wrote:Sufficiently Philanga....thropic wrote:FRM2011 wrote:Morning wazuans,
Seems like the talk on cost of credit coming down was just that.
Yesterday's 91-day t-bill auction was undersubscribed and the interest rate was still at 8.2%.
Are they ever likely to get to the amazing 2% of Kibaki years ? Kibaki was a Keynesian and lived it throughout his regime. The effects were Great in his early years 2003-2007 but we all know what happened in Q4 2011. Now that we went begging to IMF, forget the 2% for now,until we chase them away! IMF = More taxes,more austerity,more pain for the mwananchi,Less Growth! As for this weeks auction being undersubscribed, this points to coming high yields particularly if the Govt's appetite for domestic borrowing remains the same/increases. The converse is true! @...philanga are you Austrian? What happened there?  Sorry i digress.... @SufficientlyP
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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Sufficiently Philanga....thropic wrote:mnandii wrote:Sufficiently Philanga....thropic wrote:FRM2011 wrote:Morning wazuans,
Seems like the talk on cost of credit coming down was just that.
Yesterday's 91-day t-bill auction was undersubscribed and the interest rate was still at 8.2%.
Are they ever likely to get to the amazing 2% of Kibaki years ? Kibaki was a Keynesian and lived it throughout his regime. The effects were Great in his early years 2003-2007 but we all know what happened in Q4 2011. Now that we went begging to IMF, forget the 2% for now,until we chase them away! IMF = More taxes,more austerity,more pain for the mwananchi,Less Growth! As for this weeks auction being undersubscribed, this points to coming high yields particularly if the Govt's appetite for domestic borrowing remains the same/increases. The converse is true! @...philanga are you Austrian? What happened there? Sorry i digress.... Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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People should study the correlation between tax evasion and the economy. At the onset of GFC tax evasion became a thorny issue in Europe before it went global. Towards the end of last year tax evasion cases and tax hungry policies are now rife globally. So what's happening to KE? Are tax issues appearing in the headlines? Have taxes been hiked? What about tax evasion headlines? **Markets hate confessions** $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Inflation continues its upward march and prints 8.36% up from 7.67%. http://af.reuters.com/ar...s/idAFL5N0R21TS20140901
Inflation up, KES weak, econ weak, but NSE up. Wake up call coming soon to mr market when CBK starts hiking... I continue to warn on bank stocks, haircuts are coming. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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