Kenya

The value of mobile commerce transactions, including those designated as Pay Bill and Buy Goods and Services, has passed the Sh1 trillion mark for the first time.

Kenya's central bank surprised financial markets by cutting its Central Bank Rate (CBR) by 50 basis points to 9.50 percent, saying there was scope to ease its monetary policy stance to boost economic activity as inflation expectations are well anchored and economic output is below its potential level.

Kenya has raised Sh202 billion ($2 billion) in a new sovereign bond issue that was closed on Wednesday, the National Treasury has said.

Moody's Investors Service ("Moody's") has today downgraded the issuer rating of the Government of Kenya to B2 from B1 and assigned a stable outlook. This concludes the review for downgrade that commenced on October 2, 2017.