Brace yourself for tougher times as the Kenyan shilling loses more ground against dollar

Kenyans should brace for tougher times through a much weaker shilling that is forecast to slide to Sh103.50 against the US dollar by year-end, according to economists at Citi Bank. They say heavy imports not matched by foreign exchange inflows are projected to depress the local currency until mid next year.

"...this could get worse in the first half of 2016," said David Cowan, the Africa economist at Citi. Should the projections turn out to be accurate, Kenyan households would be exposed to higher costs for goods caused by the more expensive imports.