Foreign investors in stock markets strengthen Kenya’s shilling

Kenya, March 26 – According to the latest report on the stock markets, investment from the foreign investors seem to push up the local currency of the Kenyan market. Their role has led to the forecast of a competitive currency that will gain momentum this week, and keep the business environment conducive.

Tanzania too could be experiencing the same change this week, with the currency as well set to level up. Month-end inflows would push the strength of the currency up against the U.S dollars and would benefit the business in the country. This would be a good gesture for the economy of the country that has been productive since the beginning of the year 2018.

Uganda is believed to come under pressure, but there is hope with the reviving activities in the various sectors. It may not be long since the economy picks up but would be unfortunate not to compete with their neighbours in the economic times.

Tanzania’s tourism seem to be making remarkable progress according to reliable sources, and undoubtedly it would be bad news for the counterparts. The industry has had a great impact in the economy of the country and hopes to continue in the same line. It offers a big bonus for the African country to be more competitive regionally.

ALSO READ: CIC Group profit more than doubles to Ksh478 million

Kenya, with the aid of the foreign investors have the chance to strengthen the feeble knees by reviving their business hopes. The heavy rains in the country have had adverse effects on the business sector, with agriculture condemning the blessings as well. However, the investments could be a stepping stone to something greater and more rewarding with the currency gaining this week.

Uganda could be following steadily to ensure the mark of the East African region is felt and remains a luring destination.