Metropol projects a 6.5pc growth in 2019 - KBC

Metropol is projecting that the country is likely to achieve a 6.5 percent growth in 2019 support by capital investment in affordable housing, affordable healthcare, food security and manufacturing as envisioned in the Big 4.

Metropol Managing Director Sam Omukoko added that the growth momentum will further be supported by a rapidly growing mobile banking lending as food inflation is expected to ease on the backdrop of favorable rainfall in this year.

The Kenyan economy is yet again to remain at positive nominal growth thanks to a mix of favorable economic activities.

Economic forecasts now show that traditional subsectors like horticulture exports will be joined by the aggressive movement in the mobile lending sector.

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Omukoko added that mobile lending had its negative connotations to the public saying that it could be unsustainable in the long run if borrowers do not monitor their credit bases.

The economy, however, is still most likely to be enriched due to the scale of the government’s ambitious big 4 agenda projects.

Metropol further expects a narrowing current account deficit as a result of diaspora remittances, reduced imports, increased Foreign Direct Investments and subdued petroleum prices in international markets

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