Sovereign Analysis /
Sub Sahara Africa

KENYA: Booming economy, tenuous debt situation; Hold

    Christopher Dielmann CFA
    Christopher Dielmann CFA

    Director, Macroeconomic & Sovereign Research

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    Tellimer Research
    21 February 2018
    Published byTellimer Research
    In this note, we set out our thoughts in more detail after our recent research trip to Kenya, where we met a mix of private and public sector participants. Our key findings echo those that we have discussed in the past, both in our 2018 Outlook in January and our post IMF/WB Meetings notes from October.

    We maintain our Hold on Kenya 24s (yield of 6.4%, z-spread 361bp), and initiate with a Hold recommendation on Kenya 19s (yield of 3.3%, z-spread 94bp).