NAIROBI, Kenya, Feb 1 – Kenya’s fiscal policy is set to benefit from a renewed focus on managing external liquidity concerns, says Standard Chartered’s latest global Market Outlook Report.
The 2024 report, Sailing with the Wind, finds that the US and other major economies are likely to witness sharply slower growth and sliding inflation in 2024.
The data is a compilation of views by the bank’s Chief Investment Officer outlining their investment strategy for the year ahead.
Manpreet Gill, Chief Investment Officer of Africa, the Middle East, and Europe at Standard Chartered, said that investors should carefully consider their investment objectives, match them against long-term investment horizons, and focus on building portfolios that can weather drawdowns in their portfolio.
“A key element of our advisory is that investors need to retain a strict investing discipline – they should not force sell, whether it be due to emotional or financial needs, and they should pivot to avoid excessive, permanent losses,” said Gill.
The report finds that the US and other major economies are likely to witness sharply slower growth and sliding inflation in 2024.
Closer to home, the lender advises that investors should anticipate more stability in lending rates, even as expected fluctuations in forex and the tax environment continue to shape the operating environment.
“Being able to spot where asset class risk/reward appears the most attractive will be key for Kenyan investors. For many, this will mean taking prudent steps to retain investments and look for long term returns,” said Paul Njoki, Head, Wealth Management, East Africa, Standard Chartered.
Njoki said the developments have led to the bank launching a new holistic investment framework that enables clients to build strategic portfolios to protect and grow their wealth.
“The framework, named SC Wealth Select, allows customers to review and allocate assets in line with their today, tomorrow and forever goals and in response to the investment climate,” he added.
