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Kenya : Market update - 2H 2015

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Kenya : Market update - 2H 2015

Kenya’s economic performance remained solid, underpinned by strong infrastructure spending and consumer demand, which drove growth. The World Bank estimated that economic growth will be at 5.4% in 2015, a downward revision of 0.6 percentage points on its estimate in December 2014. This revision reflects the strong headwinds the economy was facing in the foreign exchange market, the monetary policy response to calm fears, and the fact that the effect of lower global oil prices on the wider economy was muted because of the depreciation of the shilling in 2015 and weak transmission into the wider economy. It should, however, be noted that the revised figure is still higher than the average for both lower-middle-income countries and Sub-Saharan Africa.

Source : Knight Frank

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Keywords : Knight Frank