A Report have emerged that Kenya's super rich individuals in a rare move have decided to return their offshore cash into the country, due to fear of recession in European countries and United States of America which are currently experiencing an economic turmoil. The businesses cannot currently easily thrive as it used to hence forcing them to shift their cash back Kenya to avoid a recession.
According to a report by Business Daily Newspaper today, Kenyans who are the super rich have decided to return their offshore accounts cash into the country where they are now providing bonds to the local government, and also investing in luxury real estates targeting residential and retail clients. They have moved their monies from United States, European Union and China where their economies are simultaneously slowing down. The IMF is expecting the global economies to be hit by recession this year hence the reason they have opted to return their cash back home.
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