Experts at ICEA Lion Asset Management have projected Kenya’s Gross Domestic Product to grow six percent in 2023 owing to the return of normal or near-normal rainfall that will boost agricultural production.
In the Q1 2023 Investor Pulse released on Wednesday, experts noted that they expect the resumption of the long rains season to reverse the agricultural contraction experienced in 2022.
The crucial agriculture sector faced a second successive year of contraction in 2022 due to the effects of the La Nina weather phenomenon that reports indicate may now be coming to an end.
“The nonrecurrence of the drought and the general election that constrained growth in 2022 would give an uplift to a number of key economic sectors in 2023. Specifically, the agriculture, manufacturing, transport, information/communication and financial services sectors are expected to rebound the most in 2023 in the absence of the factors like drought and elections that impacted growth in 2022,” ICEA LION Q1 Investor Pulse read.
The country’s inflation has remained above the preferred 7.5 percent since June last year hitting a five-year high of 9.6 percent in October before easing to 9.5 and 9.1 in November and December, respectively.
“We expect the inflation to go below the statutory requirement rate of 7.5 percent in the course of the year,” said Einstein Kihanda, ICEA Lion asset management CEO.
Kenya is currently struggling with a rising debt, which was at KES 8.7 trillion in October, having risen from KES 7.9 trillion in October 2021.
Experts now project that the country will reach its debt repayment obligations if the government cuts costs and borrowing. This as Kenya faces considerable debt servicing pressures as a result of a higher debt burden.
Financial experts have also said Kenya should expect a more stable shilling in the second half of 2023. The Shilling depreciated by eight percent in 2022 largely due to the strengthening of
the US dollar as a result of interest rate hikes in the US.
“While the shilling may face further downward pressure in 1H23, it may fare better in the second half as the US dollar sheds some of the significant gains witnessed over the last 12
months,” the report read.
Join our community and solve the Puzzling fun with our range of crosswords
We are building some fun puzzles to put your problem-solving skills to the test and we want you to have a blast while you're at it!
Share your email and we’ll serve up new puzzles with your morning coffee.
Do you want to help shape the features we prioritize? Take a Survey to help us understand what matters to you most
Begin SurveyAM Live is NTV's morning current affairs show that sets the agenda for the day with insightful panels every weekday.
Business Redefined is Kenya’s premier thought leadership platform for unpacking matters regarding economic and finance policy as well demystifying complex developments in the region’s capital markets.
This is Daily Politics. Here we look into the ins and outs of everything Kenyan politics. We pull no punches and have no reason to sugarcoat anything that matters to Kenyans.
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Gumzo La Sato is a live social issues show that aims to create awareness about issues affecting the larger society. The discussions range from Parenting, Marital bliss and struggles, Oppression, violence, and all matters of the Heart.
Health Diary is a weekly show that highlights different types of diseases/conditions and seeks ways to prevent, treat/manage them. The show debunks this through real life stories and also feature specialists in different fields, to offer medical advice on the same.
Letter To My Younger Self is a podcast where guests get to write a letter to their younger self, from which Maxine formulates questions to ask them during the hour-long show.
Nation Reports is a weekly podcast offers an opportunity for listeners to interact with various reporters and journey with them as they unravel the biggest most emotive stories.
Paradise Lost peeks through the story of Louis Otieno, the times, and everything in between.
Speaking of Gen Z brings you entertaining but meaningful conversations about a generation that is trying to navigate through adulthood. Join hosts Michelle, Jackie and Esther as they unravel all things Gen Z.
Sport-On is a 30-minute sports magazine show on NTV and 3 hours on NATION FM. The show seeks to give the sports “fanatics” and “funatics” comprehensive and in-depth coverage of sports both locally and internationally.
Thamani is a business show which is dedicated to emerging issues regarding micro, small and medium size businesses.
A two-hour-long live show that airs on Fridays. The show focuses on what is current in the entertainment industry, controversial and popular across all media platforms targeting those aged between 25 and 35 years.
The trend podcast highlights and captures the best of banter from #TTTT segment that airs every Friday on NTV. It's the TTTT EXTRA
The Wicked Edition with Dr. King’ori seeks to address serious issues through humour and relatable wit. It is a two-part half hour show filmed in front of a live audience
A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula
Twende is a travel show that highlights beautiful, unique, diverse locations, people, and cultures. The show offers fresh perspectives on familiar locations and memorable experiences in new ones.
This Saturday evening lifestyle show lets viewers share their stories and life experiences as openly & honestly for the purpose of shifting the culture of silence.
VIP ACCESS is Anyiko Owoko’s YouTube and podcast show on Music and Culture dedicated to promoting Africa’s most promising talent and creatives. This podcast grants you VIP access into timeless interviews while providing a platform for rising as well as established artists across the continent. Since launching in 2018, Anyiko has interviewed over 70 African music stars.
This weekly news show aims to have all sides of debate but not be constrained by it, listen to main voices in the contest but not allow them to hold the viewers hostage, entertain debate but allow push back with all due respect.
In this podcast, three widowers openly speak about the process of grief, how they found themselves exposed to the emotional turmoil of losing their wives, and how society still does not know how to deal with them.
Your World is a health, wellness and variety show. It provides a platform for audiences and experts to share their experiences on how to improve or manage health issues, across Kenya and the Africa region.
