Sovereign Analysis /
Sub Sahara Africa

KENYA: Booming economy, tenuous debt situation; Hold

    Christopher Dielmann CFA
    Christopher Dielmann CFA

    Director, Macroeconomic & Sovereign Research

    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).