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LOCAL AND REGIONAL BUSINESS MARKET UPDATE Jan
07th – 11th 2007
Kenya: December Inflation
Rises: According to a report released by the
Kenya National Bureau of Statistics, Kenya’s annual
inflation rate rose to 12% in December from 11.8% in
November mainly due to an increase in the price of food,
fuel and power. The underlying inflation rate also rose
marginally to 5.9% in December from 5.8% in November.
The month-on-month consumer price index rose 2.6% to
214.1 in December from 208.6 in November
Uganda: Oil Shortage Causes Country to Plan
Refinery: Ugandan President Yoweri Museveni
announced plans to build an oil refinery to reduce Uganda’s
dependence on foreign supplies, after the country suffered
a serious supply disruption following the post-election
violence in Kenya. Uganda currently relies on supplies
of processed crude oil from Mombasa.
Uganda: Kenyan Crisis costs Ugandan Economy:
The Ugandan Government loses over two billion shillings
a day as a result of the post-election violence in Kenya,
which has disrupted the flow of goods in and out of
the country. One billion shillings is lost in direct
revenues while the other one billion is lost in export
revenues to farmers and traders because they are unable
to get their products out. Figures from the Uganda Revenue
Authority between December 1, 2007 and January 6, 2008
show that revenues from import duty, value added tax,
as well as excise duty on petroleum and other goods
went down by 78%.
KES TERM DEPOSIT RATES (%p.a)
| KES
'000' |
1
-month |
3-month |
6-month |
12-month |
| 50-500 |
4.50 |
5.75 |
6.25 |
6.80 |
| 500-1,000 |
5.00 |
6.25 |
6.75 |
7.30 |
| 1,000–
5,000 |
5.50 |
7.00 |
7.50 |
8.00 |
| 5,000-10,000 |
6.00 |
7.50 |
8.00 |
8.50 |
| 10,000-20,000 |
6.25 |
8.00
|
8.30 |
8.75 |
For amounts above KES 20,000,000 please
call us as rates are negotiable.
FOREIGN CURRENCY TERM DEPOSIT
RATES (%p.a)
| USD |
1–month |
3-month |
6-month |
12-month |
| |
|
|
|
|
| < 10,000 |
3.00 |
3.25 |
3.50 |
3.75 |
| 10,000 – 100,000 |
3.25 |
3.50 |
3.75 |
4.00 |
| 100,000 – 200,000 |
3.50 |
3.75 |
4.00 |
4.50 |
| |
|
|
|
|
| EUR |
1–month |
3-month |
6-month |
12-month |
| |
|
|
|
|
| < 10,000 |
0.75 |
1.00 |
1.25 |
1.50 |
| 10,000 – 100,000 |
1.25 |
1.50 |
1.75 |
2.00 |
| >100,000 |
1.50 |
1.75 |
2.00 |
2.25 |
| |
|
|
|
|
| GBP |
1–month |
3-month |
6-month |
12-month |
| |
|
|
|
|
| <
10,000 |
2.50 |
2.75 |
3.00 |
3.25 |
| 10,000
– 100,000 |
2.75 |
3.00 |
3.25 |
3.50 |
| >100,000 |
3.50 |
3.75 |
4.00 |
4.25 |
For amounts above USD 100,000 and equivalent in other
currencies rates are negotiable.
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