Kenyan shilling projected to continue depreciating

The Kenya shilling is projected to continue depreciating in 2024, although at a slower pace compared to the 2023 depreciation, which saw the shilling lose 21% of its value. This is according to the Sanlam Investments East Africa Limited 2024 investment themes and outlook report, which indicated that global GDP growth projections for 2024 are expected to be broadly similar to 2023 at 3%, with sub-Saharan Africa growth expected to pick up from 3.3% to 4%.