East Africa | - Part 15

Catalyst acquires strategic interest in Kensta Group

NAIROBI (Capital Markets in Africa) – Catalyst Principal Partners LLC (Catalyst) has announced its acquisition of a significant minority interest in Kensta Group (Kensta). Kensta Group is a 52-year-old third generation family business, with headquarters in Kenya and operations in five East African countries. Since inception, Kensta, through its various investments has played a pivotal role in the east African printing and packaging Industry and has been instrumental in changing the face of office automation…

Kenyan Challenger Says No Violence If President Vote Is Fair

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NAIROBI (Capital Markets in Africa) – Kenyan opposition leader Raila Odinga pledged to keep his bid to unseat President Uhuru Kenyatta free of violence, while warning that his supporters may rise up if they suspect rigging. “We do not expect any violence,” Odinga told reporters in Nairobi, the capital, on Tuesday. “It’s not in our hands. If elections are free and fair, I don’t think there would be any. Violence will come if somebody interferes with the electoral process.”…

Mauritian Banks Seen as Haven as Politics And Oil Roil Peers

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PORT LOUIS (Capital Markets in Africa) – Mauritian banks are becoming beacons of growth and stability in sub-Saharan Africa. Unscathed by the vagaries of the oil price and unhindered by the political battles that have roiled some of their continental peers, the Indian Ocean island’s lenders have been bolstered by an economy growing faster than many of the mainland countries. The central bank expects the Mauritian economy to expand as much as 4 percent this year, compared with…

Kenyan Central Bank Says Lenders Face New Era of Smaller Profits

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NAIROBI (Capital Markets in Africa) – Kenyan lenders must adjust their business models to adapt to a new era of lower profits as interest-rate caps curb investor returns, Central Bank of Kenya Governor Patrick Njoroge said. Return on equity in the Kenyan banking industry declined to 13.6 percent in March from 18.2 percent in June, Njoroge told reporters Tuesday in the capital, Nairobi. For the country’s biggest lenders, the drop was more severe, slumping to 23 percent…

EU Sanctions Nine Congolese Including Two Government Figures

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CONGO (Capital Markets in Africa) – The European Union imposed sanctions on nine Democratic Republic of Congo citizens, including the interior and communications ministers, accusing them of undermining democracy and responsibility for human-rights abuses. The travel bans and asset freezes represent a significant escalation in EU action against President Joseph Kabila’s government since it failed to hold elections in November. While the EU sanctioned seven security officials in December, Monday’s move is the first time the EU has…

Assessing Uganda’s Fiscal and Monetary Policies in 2017 and beyond

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KAMPALA (Capital Markets in Africa) – Uganda’s rate of growth, though positive, has slowed over the past few years to average 4.5 percent in the last five years compared to 7.4 percent in the preceding period. Core inflation has been in line with the target of 5 percent over the medium term, with the few deviations from the target arising largely from supply side shocks caused by developments on the global scene as well as…

Emerging Economies are at the forefront of Moving the World to a Climate-Resilient Clean Economy

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LAGOS (Capital Markets in Africa) – Emerging economies are increasingly taking the lead in shifting the world onto a cleaner development path, a senior World Bank official said on Wednesday, pointing to the role of China, India and Africa’s Ethiopia in pushing down the cost of producing solar power. John Roome, senior director for climate change at the World Bank, said India had evolved from a decade ago when it was seen as part of the…

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