Kenya | - Part 10

Kenya Plans to Start Oil Exports, Award Blocks Early 2018

NAIROBI (Capital Markets in Africa) – Kenya plans to ship its first oil at the end of February and award 17 new exploration blocks during the first quarter of 2018, the Energy Ministry said. While East Africa’s biggest economy was scheduled to export its first crude in June, it delayed the pilot program following a tussle between the Turkana community in Kenya’s northwest — where Tullow Oil Plc has discovered 1 billion barrels of oil — and the central government…

Kenya Opposition Takes to Streets as Election Decision Looms

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenyan police fired teargas at opposition supporters in two cities as the East African nation awaits the electoral commission’s response toRaila Odinga’s withdrawal from a presidential vote rerun that threatens a constitutional crisis. Demonstrators marched in the capital, Nairobi, and the western city of Kisumu to protest what Odinga said is the electoral commission’s failure to ensure that the new vote ordered by the Supreme Court will be fair….

Kenya Airways CEO Shrinks Board in Bid to Return to Profit

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NAIROBI (Capital Markets in Africa) – Kenya Airways Limited is thinning out its board as part of an effort to return sub-Saharan Africa’s third-biggest airline to profit, Chief Executive Officer Sebastian Mikosz said. The carrier is implementing changes to its management structure that will “significantly” reduce the number of managers and direct reports to the CEO, Mikosz said Tuesday in an emailed response to questions. The adjustments are also aimed at making staff more accountable and some employees…

SBM of Mauritius Bids for Second Kenyan Bank in Expansion Drive

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PORT LOUIS (Capital Markets in Africa) – SBM Holdings Ltd., Mauritius’s second-biggest lender, offered to buy its second Kenyan bank in less than six months in a deal that will enable it to compete for a place among the nation’s top 10 financial institutions. The Port Louis-based bank submitted a non-binding offer for some of Chase Bank Kenya Ltd.’s assets and liabilities, the Central Bank of Kenya said in an emailed statement on Monday. Once acquired, SBM said…

Africa’s Contemporary Art Finds a Home in Cape Town Museum

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JOHANNESBURG (Capital Markets in Africa) – Overlooking the harbour in Cape Town, the Zeitz Museum of Contemporary Art Africa, known as Zeitz Mocaa, opened last month in a former corn silo complex that was renovated for 500 million rand ($37 million). It displays strictly 21st century works by a range of young and established artists from across the continent, including South Africa’s Simphiwe Ndzube and William Kentridge and Kenyan-born Wangechi Mutu, as well as African-American and Afro-Caribbean pieces….

Kenya to Deploy Police for Opposition Protests as Business Slows

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya will deploy security forces to monitor protests planned by the main opposition alliance, the government’s spokesman said, as he criticized the demonstrations for slowing down business. The opposition National Super Alliance plans to hold demonstrations in the capital, Nairobi, and other cities on Friday. The coalition began a campaign of twice-weekly protests on Monday to press its demands for an overhaul of the electoral commission before a rerun…

Kenyan Vote Body to Meet Presidential Candidates Over Impasse

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s electoral commission plans to hold talks with the candidates for this month’s presidential-election rerun as it attempts to resolve an impasse over how the vote will be handled. “We look forward to meeting with the presidential candidates today,” the Independent Electoral & Boundaries Commission said in a statement Tuesday on its Twitter account. “We hope to create a common understanding” on the October 26 election. Former Prime Minister Raila…

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