Kenya

February’s Inflation Trends Across the African Continent

Posted on by The Editorial Team
February’s Inflation Trends Across the African Continent

LAGOS (Capital Markets in Africa) – Angola’s consumer inflation edged down to 39.45% year-on-year in February from 40.39% in January, data from the statistics office showed. On a monthly basis, consumer prices increased 2.59% compared to 2.25% in January. Botswana’s consumer inflation quickened to 3.4% year-on-year in February from 3.1% in January. Prices rose 0.2% month-on-month compared to 0.4% previously, Statistics Botswana stated. Burundi’s year-on-year inflation rate climbed to 20.7% year-on-year in February from 12.9% in…

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Kenyan Opposition Choice of Odinga May Weaken Presidency Bid

Posted on by The Editorial Team
Kenyan Opposition Choice of Odinga May Weaken Presidency Bid

NAIROBI (Capital Markets in Africa) – The emergence of former Kenyan Prime Minister Raila Odinga, who’s lost three presidential votes, as the opposition’s favored candidate may diminish its chances of unseating Uhuru Kenyatta in elections in August. Odinga, 72, is backed by most members of a technical committee appointed by the opposition National Super Alliance to pick a presidential candidate, a spokesman for the party said by mobile-phone text message on Thursday. The Nairobi-based Standard newspaper reported earlier that Odinga’s…

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Facebook Offers Free Wifi Hotspots to Sustain Nigeria, Kenya Customer Growth

Posted on by The Editorial Team
Facebook Offers Free Wifi Hotspots to Sustain Nigeria, Kenya Customer Growth

LAGOS (Capital Markets in Africa) – Facebook Inc. has increased the number of its African users to 170 million and plans to expand further by adding wifi hotspots and laying fiber-optic cables in a bid to spread its reach outside of developed markets. The figure is 42 percent higher than when the U.S. social network first opened an African office in 2015, Carolyn Everson, vice president of global marketing, said in an interview in Johannesburg on Tuesday….

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Kenyan Inflation Jumps to Five-Year High as Drought Bites

Posted on by The Editorial Team
Kenyan Inflation Jumps to Five-Year High as Drought Bites

NAIROBI (Capital  Markets in Africa) -Kenya’s annual inflation rate accelerated to its highest level in almost five years as an ongoing drought compounds price pressures. Consumer prices surged 10.3 percent in March from 9 percent in February, the Kenya National Bureau of Statistics said in a statement emailed from the capital, Nairobi, when they broke through the Central Bank of Kenya’s 7.5 percent ceiling. The rate is the highest since June 2012 when inflation registered at…

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Kenya Budgets Increased Spending Ahead of General Elections

Posted on by The Editorial Team
Kenya Budgets Increased Spending Ahead of General Elections

NAIROBI (Capital Markets in Africa) – Kenya plans a slight increase in government spending ahead of general elections in August as concerns increase that it could be taking on more debt than it can handle to finance its budget. Treasury Secretary Henry Rotich told lawmakers the government planned to increase spending to 2.287 trillion shillings ($22.2 billion) in the fiscal year that starts in July, a 2.6 percent increase from 2016-17. “We shall continue to progressively reduce…

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Home Afrika of Kenya Seeking Up to $49 Million From Investors

Posted on by The Editorial Team
Home Afrika of Kenya Seeking Up to $49 Million From Investors

NAIROBI (Capital Markets in Africa) – Home Afrika Limited, a Kenyan property developer, will return to debt markets to raise as much as 5 billion shillings ($48.6 million) and complete projects in the capital and on the East African nation’s coast. The company, based in Nairobi, has picked Genghis Capital Ltd. to offer between 2 billion and 5 billion shillings to international investors in the first phase of the funds drive that’s set to begin by April,…

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Kenya sells bond over mobile phones in world first

Posted on by The Editorial Team
Kenya sells bond over mobile phones in world first

NAIROBI (Capital Markets in Africa) – Kenyans can now buy government bonds using only their mobile phones. The nation’s Treasury on Thursday began selling 150 million shillings ($1.5 million) of three-year debt using a platform known as M-Akiba, the first such product across East Africa. “For the first time we will provide government securities to the entire population,” Central Bank Governor Patrick Njoroge said at a briefing in the capital, Nairobi. “This will dramatically change the savings…

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