September 26, 2013

Kenya's Economy Seen as Resilient to Mall Attack in Nairobi

(Source: Bloomberg)
Resilient Economy in Kenya | Investing in Africa
Security worries are nothing new in Kenya and so the country is unlikely to see long-term investors pull money out after the deadly attack on a Nairobi shopping mall. Click through this link for more from Reuters.
Several key points to keep in mind:
1) Recent elections were transparent, and cemented Kenya's political stability.
2) Tourism accounts for only 10% of Kenya's total GDP, and at this time no travel advisories have been issued.
3) The Kenyan market's reaction was a slight, approximately 30 basis point pullback.
4) The Kenyan shilling has remained stable (see chart above).

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