Monday Night News: Investment firm Cytonn anticipates Kenya's growth at a rate of 5.7% in 2017

Business | Monday 9 Jan 2017 10:16 pm

After a stabilized 2016 that saw Kenya’s GDP grow to 5.9%, experts are anticipating a growth rate of 5.4 to 5.7% in 2017 supported by a stable Marco -economic environment, despite declining private sector credit growth which will impact businesses negatively. According to investment firm Cytonn, politics are set to take center stage and be among the key determinants of spending and government policy. This will in the long run lead to an increase in government spending on infrastructure. The private sector is expected to continue attracting global capital flows with a preference towards the financial services and information and technology sectors, while real estate is expected to maintain a high performance. Regionally, sub-Saharan Africa is expected to register the slowest growth in 2017 estimated at 1.4% according to international monetary fund brought about by a slowdown in some of the largest economies in the region like Nigeria and Angola that rely on com