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World Bank-Kenya's Economic Outlook to Dip in 2017
April 12, 2017--Kenya's GDP growth is projected to decelerate to 5.5%, a 0.5 percentage point mark down from the 2016 forecast, according to the World Bank's Kenya Economic Update (KEU) released in Nairobi today.
"Consistent with its robust performance in recent years, once again economic growth in Kenya was solid in 2016, coming in at an estimated 5.9%-a five-year high. This has been supported by a stable macroeconomic environment,, low oil prices, earlier favorable harvest, rebound in tourism, strong remittance inflows, and an ambitious public investment drive," said Diarietou Gaye, World Bank Country Director for Kenya. "Nonetheless, Kenya is currently facing headwinds that are likely to dampen GDP growth in 2017."
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Source: World Bank
Rand firms, banks strengthen as resistance to Zuma swells
April 12, 2017--A rally in gold as well as a political rally against President Jacob Zuma saw the rand firm against the dollar.
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Source: FIN24
Rally in JSE financials gains momentum
April 12, 2017--The recovery of the financial sector on the JSE, with banking shares on the forefront, has gained momentum despite news that Fitch has downgraded SA's banks.
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Source: FIN24
Markets close firmer, but banks remain under strain
April 10, 2017--South African markets ended firmer, while banks and retailers remain under pressure as investors review the implications of the most recent credit ratings downgrade.
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Source: FIN24
Rand heading for R14/$ on second downgrade
April 10, 2017--The rand was fast losing steam in early morning trade on Monday, heading for R14/$.
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Source: FIN24
SA bonds begin trading as junk for first time since 2000
April 10, 2017--SA bonds will trade carrying junk grades from two ratings agencies for the first time since 2000, with JPMorgan cutting SA from R800bn worth of indexes.
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Source: FIN24
JSE closes lower on Fitch ratings downgrade
April 7, 2017--The positive sentiment shared by South Africans uniting for a common cause was not visible on the JSE, as South African sovereign debt suffered a second ratings downgrade to junk status.
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Source: FIN24
Rand, bonds fall as junk rating triggers index exit
April 7, 2017--The rand and dollar bonds fell after Fitch Ratings became the second company to cut the country's credit assessment to junk.
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Source: FIN24
A2X gets green light for new SA stock exchange
April 6, 2017--South Africa is to acquire its third new stock exchange, which could possibly go live in the fourth quarter.
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Source: FIN24
Rand weakens as Zuma's survival seen strengthening
April 6, 2017--The JSE has ended flat as the rand and government bonds weakened, due to market concerns President Jacob Zuma could survive the resistance building against him.
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Source: FIN24
