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This research report was prepared by the Research Department of Old Mutual Securities Limited. Old Mutual Securities Limited is a securities trading company licensed by the Capital Markets Authority (Kenya) for the purpose of facilitating trade on the Nairobi Securities Exchange.

Here are our views on the news making headlines today for Kenya:
World Bank slashes Sub-Saharan Africa expected growth to 4 per cent. The World Bank expects Sub-Saharan Africa’s growth to fall by 4 per cent in 2015, down from 4.5 per cent in 2014. The forecast is below the 4.4 per cent average annual growth rate of the past two decades; and well short of Africa’s peak growth rates of 6.4 per cent in 2002-08.

Our View: This is in line with our expectations given that oil and natural gas prices have been on the decline and this forms a significant amount of the commodities traded in the region, other factors that have led to this is the increasing insecurity in the region mainly by Boko Haram and Alshabaab as well as the Ebola outbreak that severely affected most West African countries.


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