Geeska Afrika Online

How does the US Federal Reserve Policy affect you in Africa?

Nairobi (HAN) July 30, 2015 – Geeska Markets – A stronger dollar this year (2015) has battered several currencies across sub-Saharan Africa and forced Central Banks to respond with a combination of liquidity curbs and aggressive rate hikes. In Kenya’s case, the policy rate has risen by 300 bp in 2 months, to 11.5%. The Shilling has stabilized between the 100-102 ranges, with a potential rate hike by the Fed in September making the local unit’s position tenuous at best. Ahead of the next policy meeting on the 5th of August, CCTV’s Ramah Nyang spoke to Aly Khan Satchu, CEO of Rich Management about his assessment of Kenya’s monetary policy so far.




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