• About
  • Advertise
  • Privacy & Policy
  • Contact
Promoting and Connecting investment opportunities and businesses both in the Diaspora and in Kenya for Kenyans in Diaspora.
Advertisement
  • Home
  • About Us
  • News
  • Business
  • Fintech
  • Real Estate
  • Hospitality
  • Contact Us
  • KCB Diaspora Agent
No Result
View All Result
  • Home
  • About Us
  • News
  • Business
  • Fintech
  • Real Estate
  • Hospitality
  • Contact Us
  • KCB Diaspora Agent
No Result
View All Result
Promoting and Connecting investment opportunities and businesses both in the Diaspora and in Kenya for Kenyans in Diaspora.
No Result
View All Result
Home Business

Firming Shilling gives Kenyans hope

Joseph by Joseph
5th September 2018
in Business
0
Firming Shilling gives Kenyans hope
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

By Moses Adongo

There is now some good news for Kenyans as the Shilling continue to steadily strengthen against US dollar and other currencies. The hardened muscle of the Shilling has majorly been supported by increased inflow of foreign currencies taking the pressure away from the Shilling. This has drawn recognition from senior financial policy makers like Central Bank of Kenya Governor Patrick Njoroge and National Treasury Cabinet Secretary Henry Rotich, who have committed to ensure more currency flow in rather than out of the country.

On Friday, for instance, the Shilling traded at an average of Ksh100.55 compared to average of Ksh100.70 on the preceding day.  Stakeholders in the banking sector have applaud the increasing inflow of foreign currencies to support the Shilling. They have projected existence of a cheaper global market if the country continues to keep a massive reserve of foreign currencies.

According to them, the calm political temperature that has prevailed in the country since the famous handshake between President Uhuru Kenyatta and opposition leader Raila Odinga in March, has seen more foreign direct investors fly into the country carrying along their currencies.

The country has also registered increased production and sale of exports such as tea, coffee and horticulture meaning more earnings in foreign currencies. This is besides increased diaspora remittance that has topped up the foreign currency reserves. According to the Head of Research at Sterling Capital Renaldo D’Souza, diaspora remittances had increased to Sh15.5 billion as of June 2018 compared to Sh2.6 billion in the same period last year.

As to whether the strengthening Shilling will have a major impact on citizens’ lives, especially in the wake of souring prices of fuel, housing, electricity among other basic commodities, commentators have pleaded for hope. They have continued to predict a positive effect especially on imported products.

Kenya being majorly an importing country, they have said a stronger Shilling will mean prices of critical products used in manufacturing will go down hence low cost of living.  “A strong shilling makes imports cheaper. So, consuming a product that has import content is cheaper,” says Kenya Bankers Association (KBA) Chief Executive Habil Olaka

STORY SOURCE IMAGE SOURCE

Share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • More
  • Click to print (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Skype (Opens in new window)

Like this:

Like Loading...

Related

Previous Post

Naivasha to host Horticultural Fair 2018

Next Post

High- speed motorway to boost Kenyan economy

Joseph

Joseph

Next Post
High- speed motorway to boost Kenyan economy

High- speed motorway to boost Kenyan economy

  • Trending
  • Comments
  • Latest

Do You Know the Requirements for Your Passport Collection in Kenya?

9th October 2023
Chilli Farming in Kenya, The Untapped Venture

Chilli Farming in Kenya, The Untapped Venture

17th January 2025
kenya2uhub.com

List of Chinese Construction Companies in Africa

5th February 2021
Raspberry Farming in Kenya: the sign of sucess

Raspberry Farming in Kenya: the sign of sucess

14th February 2022
Kenyans in UAE Diaspora to Benefit from EXPO 2020 Dubai

Kenyans in UAE Diaspora to Benefit from EXPO 2020 Dubai

3
Influencer marketing in Kenya. Image is a collage of camera, tablet with a social feed showing on screen and other pieces used for digital content creation.

Why You Should Be Considering The Use Of Influencers In Your Business – Let’s Talk Digital.

1

Aljazera interview with Uhuru – Tuesday 22nd

0

Tazama

0
President Ruto Lauds Kenyan Diaspora for  Significant Contribution to Country’s Economy

President Ruto Lauds Kenyan Diaspora for Significant Contribution to Country’s Economy

31st January 2025

The First Volkswagen Beetle Ambassador in Kenya; Chief Njiiri wa Karanja

30th January 2025
Hyatt Hotels Corporation Debuts in Kenya with the Opening of Hyatt Regency Nairobi Westlands

Hyatt Hotels Corporation Debuts in Kenya with the Opening of Hyatt Regency Nairobi Westlands

23rd January 2025
Looking for a Market for Your Chilli Produce?

Looking for a Market for Your Chilli Produce?

23rd January 2025

Recent News

President Ruto Lauds Kenyan Diaspora for  Significant Contribution to Country’s Economy

President Ruto Lauds Kenyan Diaspora for Significant Contribution to Country’s Economy

31st January 2025

The First Volkswagen Beetle Ambassador in Kenya; Chief Njiiri wa Karanja

30th January 2025
Hyatt Hotels Corporation Debuts in Kenya with the Opening of Hyatt Regency Nairobi Westlands

Hyatt Hotels Corporation Debuts in Kenya with the Opening of Hyatt Regency Nairobi Westlands

23rd January 2025
Looking for a Market for Your Chilli Produce?

Looking for a Market for Your Chilli Produce?

23rd January 2025
Promoting and Connecting investment opportunities and businesses both in the Diaspora and in Kenya for Kenyans in Diaspora.

Promoting and Connecting investment opportunities and businesses both in the Diaspora and in Kenya for Kenyans in Diaspora.

Follow Us

Browse by Category

  • Ads & Trades
  • Business
  • Entertainment
  • Fintech
  • Food
  • Gaming
  • Hospitality
  • KCB DIASPORA AGENT
  • Lifestyle
  • News
  • News
  • Real Estate
  • Sports
  • Tech
  • Travel
  • World

Recent News

President Ruto Lauds Kenyan Diaspora for  Significant Contribution to Country’s Economy

President Ruto Lauds Kenyan Diaspora for Significant Contribution to Country’s Economy

31st January 2025

The First Volkswagen Beetle Ambassador in Kenya; Chief Njiiri wa Karanja

30th January 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© Copyright 2022 Kenya2uhub.com Powered by Domains Africa Technologies

No Result
View All Result
  • Home
  • About Us
  • News
  • Business
  • Fintech
  • Real Estate
  • Hospitality
  • Contact Us
  • KCB Diaspora Agent
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
 

Loading Comments...
 

    %d bloggers like this: