2010 was 'good year' for Kenya, says investment expert

25/03/2011 - Kenya property & investment news Posted by Neil King
2010 was 'good year' for Kenya, says investment expert

From an economic perspective, 2010 was a good year for Kenya.

This is according to Edward Gitahi, investment manager at Pinebridge Investments, who said that the GDP growth is estimated to have topped six per cent and interest rates were relatively low.

Writing for allafrica.com, Mr Gitahi observed that the financial markets also delivered stellar returns.

The stock market recovered from two years of lacklustre returns to post a solid 36.5 per cent return, while the average bond return was in the region of 20 per cent to 30 per cent.

"Business and investor confidence could quickly improve if the pace of political reform picks up," he noted.

"Despite the current headwinds, we cannot under estimate the reliance of Kenyan people and private sector resilience in keeping the economic cog wheels turning."

Kenya is, of course, East and Central Africa's hub for financial services.

Indeed, the Nairobi Stock Exchange one of the highest ranked in Africa in terms of Market capitalization. ADNFCR-2019-ID-800477199-ADNFCR