Browsing: National Social Security Fund (NSSF)

Kenya's Debt Repayment

Kenya’s investment landscape amid high taxes, weakening Shilling

Countries
  • Businesses in Kenya are facing the impact of tightened monetary policy that is resulting in high lending rates.
  • The government is under increasing pressure from investors to settle huge pending bills.
  • At the same time, the Kenya Shilling is steadily losing ground against major world currencies, piling pressure on external debt obligations.

In the second half of the year, business optimism for companies and sectoral growth prospects in Kenya appears to be subdued, largely influenced by the dual challenges of high taxes and a weakening Shilling.

The government’s task of balancing rising debt levels with tax revenue generation is taking center stage in a scenario complicated by other economic factors.

A confluence of high-interest rates within the banking sector, a politically sensitive environment, the accumulation of pending bills that impact private sector cash flow, and the depreciation of the Kenyan Shilling is painting a complex business environment.

The Shilling has …

Afreximbank plans $3 billion IPO on London Stock Exchange - The Exchange

Afrexim bank to open first branch in East Africa

Banking

The African Export-Import Bank (Afreximbank) has signed a deal with Uganda to open its East African branch in Kampala.

Uganda’s President Yoweri Museveni and Benedict Oramah, Afrexim bank president signed the deal which will see Uganda as its fifth branch.

Afrexim bank which is a pan-continent investment lender has other branches in Abuja, Cairo, Abidjan and Harare.

Prof Oramah said that the opening of an East Africa branch would deepen the bank’s involvement with the region’s institutions.

The Kampala branch will start operating end of October 2019 and will serve 11 countries: Uganda, Sudan, Kenya, Tanzania, Eritrea, Djibouti, Ethiopia, South Sudan, Rwanda, Burundi and Comoros.

Kudakwashe Matereke Afrexim East Africa chief operating officer said it is in talks with Uganda’s  National Social Security Fund (NSSF) to have it join others in the region like Rwanda’s social board to become one of the lender’s institutional investors.

Also Read: New bank

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