East Africa | - Part 7

Kenya’s Vote Rerun Plans Set Back as Opposition Quits Talks

NAIROBI (Capital Markets in Africa) – Kenya’s main opposition coalition walked out of negotiations on how a rerun of last month’s annulled presidential election will be managed and threatened street protests, setting back preparations for the Oct. 26 ballot. The officials quit the talks because of plans by the ruling Jubilee Party to remove powers from the Independent Electoral & Boundaries Commission, James Orengo, a senator for the opposition National Super Alliance, told reporters Thursday…

Kenyan Electoral Body in Talks With Parties on Vote Deadlock

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s electoral body held talks with opposition and ruling party officials as it seeks an agreement on how to handle the rerun of last month’s botched presidential vote, as a standoff between the three sides threatens to trigger a constitutional crisis. The meeting in Nairobi, the capital, sought to set a “framework of issues for discussions at subsequent talks” between the electoral body and the rival political parties, Norman Magaya,…

Risky Roads a Boon for Airlines in War-Ravaged South Sudan

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SOUTH SUDAN (Capital Markets in Africa) – Ayaak Deng’s first-ever flight let her skip over a hundred miles of bloodily contested South Sudan and visit family she hadn’t seen in a year. It’s the kind of trip that’s revitalizing small airlines that initially struggled because of the almost four-year civil war. The airport in the capital, Juba, has recorded about 1,000 domestic passengers a day this month, more than five times the average in the first half…

Kenya Opposition Plans Mass Protests to Force Out Vote Officials

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s main opposition alliance will begin mass protests this week to force out electoral officials it suspects of rigging last month’s annulled presidential vote. The National Super Alliance will begin its campaign on Tuesday and will continue until the Independent Electoral & Boundaries Commission officeholders resign, said Norman Magaya, chief executive officer of the opposition coalition. It may escalate the protests if lawmakers from the ruling Jubilee Party continue…

Kenya’s Top Court Slams Electoral Body Over Botched Election

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s top court delivered a stinging rebuke of the nation’s electoral commission, identifying a litany of failures in its handling of last month’s botched presidential elections and describing its explanations for the failure of its systems as unacceptable. The Supreme Court ruled the Aug. 8 election unlawful on Sept. 1, and ordered a rerun. A five-judge bench on Wednesday delivered the court’s detailed judgment, which upheld the main opposition’s complaints that President Uhuru…

Tanzania Needs Clear Rules Amid Economic Transition, Ndulu Says

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DAR ES SALAAM (Capital Markets in Africa) Tanzania needs to provide clear rules to businesses as it improves governance and makes better use of its natural resources, the governor of the central bank said. President John Magufuli’s government has embarked on an industrialization drive that will need the public sector and business to work better together to achieve inclusive growth, Bank of Tanzania Governor Benno Ndulu said Tuesday at a book launch in the commercial capital, Dar es…

Kenyan Credit Growth Accelerates for First Time in Two Years

Posted on by The Editorial Team

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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