(Photo courtesy)
Kenya’s foreign exchange reserves have hit a staggering $9.8 billion, enough to cover 4.4 months of imports and shield the shilling from turbulence.
Economist Daniel Kathali confirms strong dollar reserves are crucial for stabilizing the currency, taming inflation, and settling foreign debts.
But while Kenya builds its dollar fortress, neighboring Uganda and Tanzania are betting on gold to protect their economies.
The Central Bank of Kenya remains confident, boasting enough forex reserves to weather storms.
Meanwhile, gold prices have skyrocketed to record highs, pushing Tanzania and Uganda to stockpile the precious metal as a hedge against currency shocks.
The contrast raises questions—why are Kenya’s neighbors shifting to gold instead of dollars?
Analysts suggest Kenya’s disciplined monetary policies and diversified reserves give it an edge.
But with global economic uncertainty looming, could gold become a safer bet than the dollar?
As East Africa’s financial strategies diverge, one thing is clear—Kenya’s dollar dominance is making waves while its neighbors take a different path.
Will Kenya’s forex strength hold, or will gold emerge as the region’s ultimate safe haven?
The battle between dollars and gold is heating up, and all eyes are on East Africa’s next move.
Reactions from Kenyans;
Link; https://www.facebook.com/100067867727102/posts/pfbid02qGAaX7aFzKvhh8D88BsGrATn5qJZYCMc2HzAKgXaprwmRg1vJvikwVdJfgi3VrLWl/?app=fbl
