Sharp Daily
No Result
View All Result
Wednesday, June 4, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Central Bank projects surge in foreign inflows

Austin Wekesa by Austin Wekesa
February 13, 2024
in News
Reading Time: 2 mins read

The Central Bank of Kenya (CBK) anticipates a surge in foreign inflows into the Kenyan economy in 2024, marking a significant turnaround since the end of 2016. If projections hold, it would signify the first increase in foreign inflows and the highest amount received since 2021, ending a challenging period marked by investor divestment.

CBK Governor revealed expectations of a USD 1.1 billion influx, primarily driven by Foreign Direct Investment (FDI) and disbursements from lenders such as a EUR 88 million loan from the African Development Bank.

The prospect of Kenya becoming a more attractive destination for foreign investors may prompt interest rate reductions. Additionally, the recent strengthening of the Kenyan Shilling, evidenced by its gains against the dollar over the past two consecutive weeks, contrasts with its downward trajectory in recent years, enhancing Kenya’s appeal to foreign investors grappling with foreign exchange losses.

The anticipated increase in inflows is poised to stabilize the local exchange rate and bolster the country’s hard currency reserves, mitigating volatility.

RELATEDPOSTS

CBK lifts 10-year moratorium on new bank licenses

April 17, 2025

CBK introduces green finance taxonomy to guide climate risk management in banking

April 4, 2025

Previous Post

Kenya Power announces resumption of token purchase service

Next Post

Over 2,000 Kenyan civil servants used fake degrees: probe

Austin Wekesa

Austin Wekesa

Related Posts

News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025
Agriculture And Economy
News

Lets get Kenya out of FATF list

May 9, 2025
News

The downside of Impact Investing

May 2, 2025
News

Leadership challenges at the University of Nairobi

April 24, 2025
News

Easter eggs and earnings: Growing your nest egg with CMMF

April 16, 2025
News

Geoffrey Ruku declares KES 377M net worth during CS vetting

April 15, 2025

LATEST STORIES

Economic reforms are costly

June 3, 2025

Cytonn Income Drawdown Fund (CIDDF)

June 3, 2025

Navigating the money market and fixed income funds landscape

June 3, 2025

Best investments for Kenyan seniors: Secure, predictable & low-risk

May 30, 2025

Why June is the Secret Sweet Spot for Travel

May 30, 2025

Strategies to elevate more women to corporate leadership

May 30, 2025

Tap on Kenya’s 2025 tech revolution

May 30, 2025

How CURBS supports employers and employees

May 30, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024