Weak shilling slowing economic growth prospects, says report

Kenya's economy is staring at a major slowdown on the impact of the weakening shilling, economists at Standard Chartered have forecast, citing falling demand among businesses.

No new jobs were created in August in the clearest pointer to the dipping confidence on positive outlook. The predictions are informed by slowing momentum as shown by Kenyan Business Sentiment Index, despite the temporary boost presented by the historic visit by US President Barack Obama in July.