{"id":113023,"date":"2024-02-15T20:37:03","date_gmt":"2024-02-15T20:37:03","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/investor-confidence-to-pick-up-as-debt-pressure-eases-dtb"},"modified":"2024-02-15T21:37:25","modified_gmt":"2024-02-15T21:37:25","slug":"investor-confidence-to-pick-up-as-debt-pressure-eases-dtb","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/investor-confidence-to-pick-up-as-debt-pressure-eases-dtb","title":{"rendered":"Investor confidence to pick up as debt pressure eases \u2013 DTB"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>The concern of investors fleeing the country or holding their dollars off the Kenyan market on account of the weakening shilling will be a thing of the past this year.<\/p>\n

Economic experts at Diamond Trust Bank say the country\u2019s issuance of the $1.5 billion (Sh234 billion) Eurobond to buy back the inaugural $2 billion bond, is likely to have a positive impact on exchange rate, inflation and the level of government spending on debt and development.<\/p>\n

\u201cEasing debt concerns could lift the overall outlook of the country, hence boosting investors\u2019 confidence,\u201d DTB Group CEO Nasim Devji said.<\/p>\n

\u201cThe real recovery will be felt more in the second half of the year, and the economy will grow at a pace of 5.6 per cent.\u201d<\/p>\n

She spoke during the bank\u2019s 2024 economic and sustainability forum in Nairobi.<\/p>\n

She added that they are optimistic the economy will continue to evolve more favorably as signs are already evident there is a turnaround.<\/p>\n

\u201cInvestor sentiment has reversed remarkably, I believe the glass is more than half-full.\u201d<\/p>\n

The National Treasury on Tuesday via a statement, confirmed that the country has successfully issued the new Eurobond with plans to buy back the inaugural one due on June 24.<\/p>\n

The exchequer said the new loan is divided into three installments, with a weight average life of six years, and is expected to mature in 2031.<\/p>\n

It is priced at 10.37 per cent, the highest rate an African state has ever offered.<\/p>\n

Cote D\u2019Ivoire\u2019s January issuance and Benin\u2019s February bonds, which raised $2.6 billion and $750 million were priced at between 8.5 and 7.5 per cent.<\/p>\n

Apart from the easing debt pressure, the lender also predicts that the economy\u2019s recovery will be propelled by a substantial recovery of the supply chain as global supply shocks ease.<\/p>\n

Also present at the forum, was investment PS Abubakar Hassan, who reiterated that the government is relentless in its quest to have strong macroeconomic and trade investment going forward.<\/p>\n

\u201cThe subscription of the Eurobond demonstrates confidence in the economy. Meanwhile, the Ministry of Trade is working on strategies around the cost of doing business to see what needs to be reduced; ease of doing business; and the harmonisation of county licensing frameworks,\u201d Abubakar said.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. The concern of investors fleeing the country or holding their dollars off the Kenyan market on account of the weakening shilling will be a thing of the past this year. Economic experts at Diamond Trust Bank say the country\u2019s issuance of the $1.5 billion (Sh234 billion) Eurobond to buy back the inaugural […]<\/p>\n","protected":false},"author":84,"featured_media":113022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-113023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nInvestor confidence to pick up as debt pressure eases \u2013 DTB - kenya<\/title>\n<meta name=\"description\" content=\"The concern of investors fleeing the country or holding their dollars off the Kenyan market on account of the weakening ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/investor-confidence-to-pick-up-as-debt-pressure-eases-dtb\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investor confidence to pick up as debt pressure eases \u2013 DTB\" \/>\n<meta property=\"og:description\" content=\"The concern of investors fleeing the country or holding their dollars off the Kenyan market on account of the weakening ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/investor-confidence-to-pick-up-as-debt-pressure-eases-dtb\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-15T20:37:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-15T21:37:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/02\/sm_1708020238.828403.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"979\" \/>\n\t<meta property=\"og:image:height\" content=\"551\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/investor-confidence-to-pick-up-as-debt-pressure-eases-dtb#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/investor-confidence-to-pick-up-as-debt-pressure-eases-dtb\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Investor confidence to pick up as debt pressure eases \u2013 DTB\",\"datePublished\":\"2024-02-15T20:37:03+00:00\",\"dateModified\":\"2024-02-15T21:37:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/investor-confidence-to-pick-up-as-debt-pressure-eases-dtb\"},\"wordCount\":388,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/investor-confidence-to-pick-up-as-debt-pressure-eases-dtb#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/02\/sm_1708020238.828403.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/investor-confidence-to-pick-up-as-debt-pressure-eases-dtb#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/investor-confidence-to-pick-up-as-debt-pressure-eases-dtb\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/investor-confidence-to-pick-up-as-debt-pressure-eases-dtb\",\"name\":\"Investor confidence to pick up as debt pressure eases \u2013 DTB - 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