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The East African : December 23rd 2013
The EastAfrican 54 BONDS WEEKLY STATISTICS 20-Dec-2013 GOVERNMENT OF KENYA FIXED RATE TREASURY BONDS Issue No. Issue Date TWO YEAR BONDS FXD 1/2012/2Yr FXD 2/2012/2Yr FXD 3/2012/2Yr FXD 4/2012/2Yr FXD 1/2013/2Yr FXD 2/2013/2Yr FXD 3/2013/2Yr FIVE YEAR BONDS FXD 1/2009/5Yr FXD 1/2010/5Yr FXD 2/2010/5Yr FXD 1/2011/5Yr FXD 1/2012/5Yr FXD 1/2013/5Yr FXD 2/2013/5Yr FXD 3/2013/5Yr SEVEN YEAR BONDS FXD 1/2007/7Yr EIGHT YEAR BONDS FXD1/2006/8Yr FXD1/2007/8Yr NINE YEAR BONDS FXD 1/2006/9Yr Maturity Date Issued Value in millions Coupon (%) Traded yield (%) Previous Price (%) Total Value traded (kshs) MARKETS DECEMBER 21-27,2013 SLOW ECONOMIC GROWTH 30-Apr-12 28-Apr-14 27-Aug-12 25-Aug-14 29-Oct-12 24-Dec-12 25-Feb-13 6,418.05 16,312.35 27-Oct-14 13,786.50 22-Dec-14 20,777.16 25-Mar-13 23-Mar-15 26-Aug-13 24-Aug-15 21-Sep-09 15-Sep-14 24-May-10 18-May-15 30-Nov-10 31-Jan-11 23-Nov-15 28-Jan-13 22-May-17 29-Apr-13 1-Jul-13 25-Nov-13 30-Jul-07 27-Feb-06 26-Feb-07 24-Apr-06 23-Feb-15 20,468.11 19,967.33 17,927.92 13,239.10 3,060.25 14,929.20 25-Jan-16 22,083.10 17,687.98 23-Apr-18 20,165.56 25-Jun-18 12,888.00 19-Nov-18 14,946.55 21-Jul-14 17-Feb-14 16-Feb-15 13-Apr-15 TEN YEAR BONDS FXD 1/2006/10Yr 27-Mar-06 14-Mar-16 FXD 2/2006/10Yr 29-May-06 16-May-16 FXD 1/2007/10Yr FXD 1/2008/10Yr FXD 2/2008/10Yr FXD 3/2008/10Yr FXD 1/2009/10Yr FXD 1/2010/10Yr FXD 2/2010/10Yr FXD 1/2012/10Yr FXD 1/2013/10Yr FXD 1/2013/10Yr 29-Oct-07 29-Oct-07 28-Jul-08 16-Oct-17 16-Oct-17 16-Jul-18 29-Sep-08 28-Sep-18 27-Sep-09 26-Apr-10 1-Nov-10 15-Apr-19 25-Mar-13 26-Aug-13 26-Aug-13 ELEVEN YEAR BONDS FXD1/2006/11Yr 25-Sep-06 TWELVE YEAR BONDS FXD1/2006/12Yr FXD1/2007/12Yr 11-Sep-17 28-May-07 FIFTEEN YEAR BONDS FXD1/2007/15Yr FXD2/2007/15Yr FXD3/2007/15Yr FXD1/2008/15Yr FXD1/2009/15Yr FXD1/2010/15Yr FXD2/2010/15Yr FXD1/2012/15Yr FXD1/2013/15Yr FXD2/2013/15Yr TWENTY YEAR BOND FXD1/2008/20Yr FXD1/2011/20Yr FXD1/2012/20Yr FXD1/2012/20Yr 28-Aug-06 13-Aug-18 13-May-19 26-Mar-07 25-Jun-07 26-Nov-07 7-Mar-22 6-Jun-22 31-Mar-08 13-Mar-23 26-Oct-09 7-Oct-24 29-Mar-10 10-Mar-25 25-Apr-11 24-Sep-12 29-Jul-13 29-Apr-13 30-Jun-08 30-May-11 27-May-13 27-May-13 TWENTY FIVE YEAR BOND FXD1/2010/25Yr THIRTY YEAR BOND SDB 1/2011/30Yr 8,269.85 3,318.80 13,764.30 2,656.90 3,451.05 5,028.10 9,308.80 2,992.75 13,504.70 4,151.80 4,966.85 13-Apr-20 19,394.15 19-Oct-20 18,849.90 13-Jun-22 10,520.46 19-Jun-23 19-Jun-23 526.69 526.69 4,031.40 3,900.95 4,864.60 3,654.60 7,236.95 8-Dec-25 6-Sep-27 7-Feb-28 10-Apr-28 7-Nov-22 18,030.20 7,830.90 9,420.45 10,206.45 13,513.10 21,089.45 6,337.38 15,646.23 5-Jun-28 20,360.35 5-May-31 1-Nov-32 1-Nov-32 13.826 11.114 12.496 12.382 12.844 12.940 12.939 9.5000 6.9510 6.6710 7.6360 11.8550 12.8920 11.3050 11.9520 9.7500 13.2500 12.7500 13.5000 14.0000 14.0000 10.7500 10.7500 10.7500 10.7500 10.7500 8.7900 9.3070 12.7050 12.3710 12.3710 13.7500 14.0000 13.0000 14.5000 13.5000 12.5000 12.5000 12.5000 10.2500 9.0000 11.0000 11.2500 12.0000 9,365.80 4,389.35 4,389.35 28-Jun-10 28-May-35 20,192.50 28-Feb-11 21-Jan-41 22,136.45 13.7500 10.0000 12.3500 12.3500 11.2500 12.0000 107.4578 100.2844 101.4593 101.4309 101.8645 101.3757 102.8728 99.0854 92.6968 91.6247 92.9289 101.8244 103.5990 97.5912 100.5361 98.4657 102.7421 100.8097 100.8356 105.0239 104.9510 97.0953 96.2461 90.6357 96.8658 94.6174 85.8422 87.0802 99.9759 100.6591 102.0631 99.5137 108.5958 101.9314 112.9421 106.7821 97.3861 12.8000 12.7000 100.7864 94.8862 76.5819 78.4434 93.3025 90.5315 Expenditure on food, education and other basic necessities accounted for most cash received from Ugandans in the diaspora. Pic: File Ugandans’ overseas remittances stagnate Job losses in US and Eu≥ope due to slowdown in thei≥ economic g≥owths a≠ected cash t≥ansfe≥s By MARTIN L OKETCH Special Correspondent D iaspora remittances remained flat this year against the backdrop of slow economic recovery in developed countries. These countries have re- corded a slower economic growth in the wake of elevated domestic debt crises, leading to joblessness. Besides slow economic growth, difficulties in the global economy resulted in a slowdown in international trade and reduced demand for exports from emerging markets like Uganda. “The effects of the slow- 500,000,000 95.2657 200,000,000 13.0250 13.0000 103.5072 72.8613 89.9588 92.8312 82.5120 89.3567 275,000,000 450,000,000 down in the US and Europe have resulted in job losses and this is the primary reason for the decline or near flat levels of remittances not only in Uganda but all other recipient countries around the world,” says Stephen Kaboyo, a financial analyst and managing director of Alpha Capital Partners. Mr Kaboyo adds that only when developed economies sufficiently recover from economic difficulties will the trend in remittances take an upward trajectory, with even greater potential to surpass other sources of foreign exchange flows. Bank of Uganda (BoU) ex- ecutive director for research Adam Mugume told The EastAfrican early this month that remittances to Uganda had not changed due to the struggling global economy. “We are seeing a flat growth in private capital remittance to $800 million for this year alongside increased steady foreign direct investment (FDI) in the oil sector, and to some extent, gold,” he said. According to a survey by BoU, in collaboration with Uganda Bureau of Statistics total personal transfers received in 2012 were estimated at $910.3 million, which is about 4.3 per cent of the country’s GDP. This reflects an increase of 12 per cent compared with the $812.9 million remitted in 2011. The same survey found that the share of personal transfers to GDP for 2008, 2009, 2010 and 2011 was 4.4, 4.6 per cent, 4.5 per cent and 4.7 per cent respectively. The major sources of per- sonal transfers were Europe and Africa, each with 37.9 per cent of total inward personal transfers, followed by North America with 19.8 per cent. Most personal transfers (81.1 per cent) were sent to households located in urban areas. However, senior fellow at Economic Policy Research Centre Lawrence Bategeka said Uganda is lucky to have received $800 million be- cause the situation could have been worse. “Going forward, it is likely to go down further. The economic conditions, especially in the developed countries and emerging markets, are still difficult. The recovery in the global economic growth rate is still characterised by slow activities,” he said. The International Mone- tary Fund in its latest World Economic Outlook released in October indicates reduced global economic growth from an earlier projection of 3.3 per cent to 2.9 per cent for this year and 3.6 per cent for 2014. The report states much of the pick-up in growth is expected to be driven by advanced economies and warns that although growth in major emerging markets is still strong, it is expected to be weaker than an earlier forecast in July. This is partly due to a natu- ral cooling in growth following the stimulus-driven surge in activity after the Great Recession. “Structural bottlenecks in infrastructure, labour markets and investment have also contributed to slowdown in many emerging markets,” said the IMF. Overall growth in emerg- ing markets and developing economies is expected to remain strong at 4.5 to 5 per cent in 2013 to 14, supported by solid domestic demand, recovering exports and supportive fiscal, monetary and financial conditions., according to IMF.
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