East Africa market outlook

Kenya's interest rate controlling regime has pushed financiers to a leasing segment dominated by foreigners to build revenues. This move comes amidst regional confidence being questioned following the recent nullification of the 2017 presidential elections. Vishal Agarwal, a YPO member, senior leader, and infrastructure specialist, joined CNBC Africa to discuss East Africa's outlook. Despite market reactions and uncertain times, Agarwal remains cautiously optimistic about the future. The recent market turbulence, with the Kenyan economy shedding about $130 billion in two sessions, has raised concerns. However, Agarwal believes that the market reaction is expected, and he looks beyond the immediate losses, focusing on the resilience of local investors and potential opportunities. He highlights the importance of understanding corporate responses to market dynamics and the need for strategic decisions to navigate economic challenges. Agarwal emphasizes the significance of leveraging existing resources, boosting investor confidence, and stimulating economic activity through targeted spending. The discussion also delves into the leasing sector and the influx of local and regional players seeking to capitalize on new opportunities in industrial finance. While foreign investors may exhibit caution before the elections, Agarwal sees potential for market stability and continued growth in East Africa.