Stanbic 1H23 Financial Results Presentation
14.0%
12.0%
10.0%
10.0%
8.0% 7.9%
6.0% 7.5%
4.0%
2.0%
0.0%
Kenya
OPERATING ENVIRONMENT - GLOBAL AND REGIONAL OVERVIEW
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Inflation
364d T-Bill
CBR
Uganda
Feb-23
Mar-23
Apr-23
May-23
Jun-23
18.0%
16.0%
14.0%
12.0%
10.5%
10.0%
7.5%
8.0%
6.8%
6.0%
4.0%
2.0%
0.0%
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
Inflation
364d T-Bill
CBR
4 | STANBIC 1H23 FINANCIAL RESULTS PRESENTATION
8.0%
11.7%
7.0%
10.5% 6.0%
5.0%
5.0% 4.7%
-7.9%
4.4%
4.0%
3.0%
2.0%
1.0%
0.0%
Jun-22
Jul-22
Tanzania
Aug-22
Sep-22
FX Reserves & Import Cover (Months)
Oct-22
Inflation
364d T-Bill
CBR
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
8.0
7.5
7.0
12.3%
6.0
10.0%
5.0
4.7
4.2
4.0
4.1
3.0
2.0
4.9%
1.0
0.0
Kenya
Tanzania
FX Reserves (USD Bn)
Benchmark (In months)
May-23
Jun-23
8.0
7.0
6.0
5.0
3.8
4.0
3.0
3.6
2.0
1.0
0.0
Uganda
Import Cover (In months)
-7.1%
5.0%
3.6%
Global landscape
Geopolitical Matters:
Persistent Russia-Ukraine conflict
China-Taiwan conflict - Elevated hostilities
Sudan conflict - Breakout of war in April 2023,
not yet resolved
Tapering Inflation: After a period of elevated
inflation, global headline inflation fell from 8.7%
in 2022 to 6.8% in 2023 (IMF)
Growth: Global GDP growth to slowdown in
2023 to 3.0% with weakness continuing in 2024
Tightening monetary policy - Rising interest
rates in developed markets impacting dollar
liquidity in emerging markets
Regional landscape
Inflation tapering across the markets (Kenya,
Tanzania and Uganda)
Pressure on FX reserves with Forex reserves
in Uganda coming below 4-month benchmarkView entire presentation