Investor Presentaiton
Macroeconomic Update - Eastern African Economies
7.2
5.7 5.3
5.1 4.9
GDP Growth Outlook (%)
10.2
7.4
6.5
6.4
4.9 4.8 5.2
Kenya
Uganda
-1.0%
-4.7%
Tanzania
2021 2022 2023
Average Inflation (%)
8.4
8.0
7.2 7.1
7.0
6.1
6.1
5.7
6.1
5.4
5.6
4.1
4.4
4.0
3.7
3.9
2.2
0.8
Rwanda
Mauritius
Kenya
Uganda
Tanzania
Rwanda
Mauritius
2021 2022 2023
EA Currency Movement - 2022
2.0%
0.0%
0.0%
-1.3%
Kenya
Uganda
Tanzania
-1.0%
-2.2%
-3.8%
■Q/Q Change Y/Y Change
Source: IMF World Economic Outlook, April 2022, EA Central Banks
Rwanda
-8.9%
Mauritius
GDP Growth projections for 2022 for Eastern African economies (that the Group operates
in) is expected to be higher than overall SSA growth of 3.8%;
Significant downsides to growth remain to overall outlook
☐ Balancing growth vs inflationary pressures
food and energy imports;
-
especially due to the reliance on
Limiting the economic impact of the Russia / Ukraine conflict without increasing
debt
Managing exchange rate movements - Tightening monetary policy in the US,
higher import costs and lower export volumes are factors already impacting EA
currencies;
□ Current Account pressure and higher levels of debt servicing could also further impact FX
movements;View entire presentation