Kenya Among Top Expat Destinations, US Fed Meeting

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What's Inside

• Why Kenya Ranks Among World’s Top Expat Destinatio …
• US Federal Reserve Meets This Week
• Headlines you might have missed
• Interview of the Week

Why Kenya Ranks Among World’s Top Expat Destinations

Kenya continues to solidify its position as a leading destination for expatriates, ranking 14th out of 53 countries in the 2024 Expat Insider survey conducted by InterNations.

• Since the survey began in 2014, Kenya is the only African nation consistently ranked among the top 20 global expat destinations, outperforming several other African countries such as South Africa, Morocco, and Egypt. Kenya is also ranked ahead of countries such as UK, Ireland, Italy, Germany among others.
• The survey, which garnered responses from over 12,500 expats representing 175 nationalities living in 174 countries, highlighted several factors contributing to Kenya’s appeal. Among the most significant are the country’s warmth, affordable housing, and ease of integration into local society.

Ranking 9th globally in the Ease of Settling In Index, expats praise the friendliness of Kenyans (11th) and find it easy to build meaningful connections and friendships (7th). According to the report, these factors play a crucial role in attracting a diverse expatriate population, ranging from international retirees to professionals on corporate assignments.

Kenya’s lack of a major language barrier is another key factor that simplifies the expatriate experience. Ranking 5th globally in this area, Kenya offers a smooth transition for many expats, further supported by the ease of finding affordable housing. The country ranks 13th globally for housing affordability, with 75% of expats agreeing that finding accommodation is relatively easy compared to the global average of 45%.

Stay updated on this and other stories on The Kenyan Wall Street.

?If I had challenges in my company, I would not hesitate to sell assets to remain afloat, to get to the better times, because it doesn’t make any sense for me to keep any assets and then suffocate the whole organization.” - Aliko Dangote

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kenyanwallstreet.com/aliko-dangote-challenges-business-leaders-to-lead-transformation

US Federal Reserve Meets This Week

Markets are hoping that the US Federal Reserve will cut rates during its meeting on Wednesday this week after inflation eased in August and its European counterpart cut interest rates by 0.25 percent.

• According to the latest data released on Wednesday, annual?inflation?slowed down to 2.5 percent in August – below expectations.
• On a monthly basis, core inflation? rose 0.3 percent driven by stubborn shelter costs, as well as an uptick in airfares and overall services prices.
• The core inflation which excludes food and energy prices similarly increased to 3.2 percent – slightly higher than expected.

“The time has come,” the?Fed‘s Board Chair, Jerome Powell, said in August, acknowledging that inflation was now on a “sustainable” path back to normal levels signaling it was preparing to cut rates at its meeting next week.

Headlines you might have missed

Tax Tribunal Rules Against Car & General on Subsidiaries' Profits

Car & General has been barred from using profits from its two subsidiaries to reduce its tax obligations in a Tax Appeal Tribunal.

kenyanwallstreet.com/tax-tribunal-blocks-car-generals-efforts-to-lower-taxes

Kenya Seeks Germany's Commitment on Increased Financing for World Bank Fund

Kenya is seeking Germany's commitment on increasing financing to "support Africa's ambition to meet its climate and development goals."

kenyanwallstreet.com/kenya-seeks-germanys-commitment-on-increased-finance-for-world-bank-fund

European Central Bank Cuts Rates to 3.5%

ECB has cut its key interest rates by 0.25 percent in its meeting on Thursday, just days ahead of a much anticipated decision by the US Fed.

kenyanwallstreet.com/european-central-bank-cuts-rates-to-3-5

Zambian Neobank Lupiya Outsources Card Product to Network

Zambian fintech and neobank Lupiya has appointed Network as its digital payments technology partner to launch a new debit card.

kenyanwallstreet.com/zambian-neobank-lupiya-outsources-payments-to-network

US Inflation Slows to 3-Year Low in August Ahead of Fed Meeting

Inflation in the U softened in August to the lowest level since February 2021, cementing the Fed's hints of possible gradual rate cuts.

kenyanwallstreet.com/us-inflation-slowed-to-3-year-low-in-august

Interview of the Week

Have a great week!