Kenya central bank holds benchmark lending rate at 10.0 pct

Kenya shilling coins and notes are pictured inside a cashier's booth at a forex exchange bureau in Kenya's capital Nairobi

Kenya shilling coins and notes are pictured inside a cashier’s booth at a forex exchange bureau in Kenya’s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya

Kenya’s central bank held its main lending rate at 10.0 percent as expected on Monday, saying food supplies were likely to improve and lower pressure on inflation.

The Monetary Policy Committee said inflation rose by half a percentage point to 8.0 percent last month, mainly due to shortages of some foods, including tomatoes, because of transport disruptions after the Aug. 8 national election.

Demand for rice, wheat flour and other food had risen before the election, leading to shortages.

“A normalization of supply, the expected short rains, and supportive measures taken by the Government are expected to further lower food prices in the near term,” the MPC said.

Gross bad debts in the banking sector had jumped to 10.7 percent in the year to August from 9.9 percent in June, the committee said, adding private sector credit growth had ticked up to 1.6 percent in the year to August, from 1.4 percent in July.

The inching up of credit growth in the period was the first reversal of a downward trend since August 2015, the MPC said.

The market largely expected the bank to keep the rate it has held since November last year, the consensus estimate in a Reuters poll showed.

Originally reported by Reuters.

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South Africa’s crop committee raises record maize estimate by 2 percent

File photo of a hawker preparing a cob of corn at his makeshift shop in Soweto

A hawker prepares a cob of corn at his makeshift shop in Soweto, January 27, 2016. PHOTO: Siphiwe Sibeko/Reuters

South Africa will harvest 15,969 million tonnes of maize this season, the biggest crop on record after improved weather conditions across the maize belt boosted yields, the government’s Crop Estimates Committee (CEC) said on Wednesday.

The estimate is up 2 percent compared to the CEC’s June forecast of 15.6 million tonnes. The previous record harvest of 14.656 million tonnes was set in 1981.

The CEC estimate came in just above a forecast by analysts and traders who pegged this year’s crop at 15.77 million tonnes.

The harvest will comprise 9.507 million tonnes of white maize, the regional staple used for human consumption, and 6.462 million tonnes of yellow, the bulk of which is used in animal feed, the CEC’s sixth production forecast of the season said.

The 2017 harvest will also be more than double the previous season, which was only 7.78 million tonnes following an El Nino-triggered drought that impacted yields, pushed up food prices and fuelled inflation.

The Johannesburg stock exchange’s white maize futures contract due in December has fallen 65 percent from its peak of 5,376 rand a tonne hit in January last year to close at 1,872 rand on Wednesday, helping to dampen inflation and food prices.

Originally reported by Reuters.

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Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

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Angola’s inflation slows to 30.51 percent year/year in June

A women walks at a market in Luanda

A women walks at a market in Luanda, August 25, 2012. REUTERS/Siphiwe Sibeko

Angola’s inflation slowed to 30.51 percent year-on-year in June from 32.58 percent in May, according to data on the national statistics agency’s website seen by Reuters on Monday.

Price increases on a month-on-month basis fell to 1.52 percent in June from 1.6 percent previously.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Africa :
Email : africa@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
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The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.