(Bloomberg) -- Kenya's shilling and Ghana's cedi
will rise as China increases spending on oil fields, roads and
telephone networks in Africa to secure raw material supplies,
Standard Bank Group Ltd. said.
The shilling may appreciate 3 percent against the dollar by
year-end, said Francis Beddington, the London-based head of
Eastern Europe, Middle East and Africa research at Standard
Bank, Africa's largest by assets. He attended the Tunis-based
African Development Bank's annual meeting, held in China for the
first time last month to help attract funds to the continent.
Read more at Bloomberg Currencies News
will rise as China increases spending on oil fields, roads and
telephone networks in Africa to secure raw material supplies,
Standard Bank Group Ltd. said.
The shilling may appreciate 3 percent against the dollar by
year-end, said Francis Beddington, the London-based head of
Eastern Europe, Middle East and Africa research at Standard
Bank, Africa's largest by assets. He attended the Tunis-based
African Development Bank's annual meeting, held in China for the
first time last month to help attract funds to the continent.
Read more at Bloomberg Currencies News
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