Safaricom could be a case of profit-taking in the short term, while its long term prospect looks good, considering its previous performance over time and Ethiopian expansion. Kenya’s energy segment is ambivalent, with optimism towards given KenGen’s plans of selling directly to consumers. On the other hand, there are dim prospects of KPLC, which awaits tariff reviews and suffers huge debt.
Globally, Biden’s new tax policies are likely to affect foreign companies’ income in the US, which could bring back more foreign players in the foreign market. We are looking forward to a number of companies releasing their results this week.