Kenyan Credit Growth Accelerates for First Time in Two Years

Kenyan Credit Growth Accelerates for First Time in Two Years

NAIROBI (Capital Markets in Africa) – Lending to Kenya’s private sector accelerated in August for the first time in two years, after growing at the weakest pace since 2002 the month before as banks continued to shun borrowers because of a government-imposed interest-rate cap. Credit grew 1.6 percent in August from a year earlier, compared with 1.4 percent in July, the Central Bank of Kenya said in an emailed statement. The bank kept its benchmark interest rate…

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Death Threats, Split Authority Said to Endanger Kenyan Vote

Death Threats, Split Authority Said to Endanger Kenyan Vote

NAIROBI (Capital Markets in Africa) – Death threats to top members of Kenya’s divided electoral body are endangering preparations for a rerun of last month’s annulled presidential election, a senior official at the authority said. The relatives of one administrator at the Independent Electoral & Boundaries Commission fled the country after their lives were threatened, while Chairman Wafula Chebukati made additional security arrangements for his family, said the official, who asked not to be identified…

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Kenyan Politics Limbo Hinders Central Bank on Currency Risk

Kenyan Politics Limbo Hinders Central Bank on Currency Risk

NAIROBI (Capital Markets in Africa) – On Monday, Kenya’s central bank may have little choice but to do what the rest of the country is stuck with: waiting for a rerun of its presidential election. With political limbo reigning since the Supreme Court’s annulment of the previous attempt at a national vote on Aug. 8, officials are left contemplating the effects of prolonged uncertainty on an economy that also faces slowing growth and persistent inflation….

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Kenyan Opposition Says Rerun Delay May Resolve Vote Concerns

Kenyan Opposition Says Rerun Delay May Resolve Vote Concerns

NAIROBI (Capital Markets in Africa) – Kenya’s opposition presidential candidate said the electoral authority should consider delaying the rerun of last month’s annulled presidential vote until the end of October to ensure it’s organized in a credible manner. The date for the election could be adjusted within the 60-day period stipulated by the law to give the electoral body enough time to prepare a fair vote, Raila Odinga, leader of the opposition National Super Alliance, said in…

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Kenyan Opposition Threatens Protests Over Electoral Body CEO

Kenyan Opposition Threatens Protests Over Electoral Body CEO

NAIROBI (Capital Markets in Africa) – Kenya’s opposition National Super Alliance threatened to stage street protests and prevent a rerun of last month’s annulled presidential election if the head of the country’s electoral authority refuses to step down. Independent Electoral & Boundaries Commission Chief Executive Officer Ezra Chiloba should be removed or the opposition will hold “mass demonstrations,” Norman Magaya, the CEO of the five-party alliance, said by phone Tuesday from the capital, Nairobi. “There…

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Clock Ticks for Kenya as Squabbles Overshadow Election Rerun

Clock Ticks for Kenya as Squabbles Overshadow Election Rerun

NAIROBI (Capital Markets in Africa) – Kenya is running out of time to ensure a credible rerun of presidential elections that were annulled by the nation’s top court after the main opposition party alleged that they were rigged. With the next vote due in just five weeks, the electoral commission is mired in infighting over who should take the fall for last month’s botched contest. Demands by ex-Prime Minister Raila Odinga, 72, and his National Super…

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Kenya Opposition Sets Conditions for Taking Part in New Vote

Kenya Opposition Sets Conditions for Taking Part in New Vote

NAIROBI  (Capital Markets in Africa) – Kenya’s main opposition alliance demanded the electoral commission be overhauled and said it wants guarantees on fairness in place before it agrees to participate in a rerun of last month’s annulled presidential election. The five-party National Super Alliance urged the Independent Electoral & Boundaries Commission to remove six key officials from its secretariat, including Chief Executive Officer Ezra Chiloba, before the vote is held on Oct. 17, alliance leader Raila Odinga said…

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