In Kenya, foreign currency deposits held in local commercial banks dropped by an equivalent of Ksh12.3 billion between June and August, coinciding with the expiry of a tax amnesty on repatriation of assets held abroad. Also demand for the government short-term debt fell to the lowest level in more than a year after uncapping loan rates despite return on 3 and 6 month papers going up. Senior Procurement Associate at Cytonn Investments, David Kingoo joins CNBC Africa to explain what is moving and shaking the Kenyan market.
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