Kenya | - Part 6

Kenya Opposition Delays Plan to Swear-In Leader as President

NAIROBI (Capital Markets in Africa) – Kenya’s main opposition alliance postponed indefinitely plans to swear-in its leader as president of a so-called People’s Assembly, after the government warned such a step would amount to treason. A ceremony that was to be held in the port city of Mombasa Dec. 12 was called off after “extensive internal consultations and engagement with a wide range of national and international interlocutors,” the National Super Alliance said in an…

Kenyan Agency Mulls $1.46 Billion Bond to Repair Damaged Roads

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – A Kenyan government agency plans to offer 150 billion shillings ($1.46 billion) of bonds to fund repairs to roads in the East African nation that have suffered from historic neglect. The Kenya Roads Board is seeking approval from the Treasury to begin a July offering of the first tranche of debt that’ll be backed by a tax on fuel imports that provides a steady income, according to Executive Director Jacob Ruwa….

Kenya Is Said to Seek Proposals for $2 Billion Eurobond Sale

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s government is seeking proposals from banks about a possible $2 billion Eurobond offering in the first quarter of 2018, according to two people familiar with the matter. The East African nation’s Treasury asked banks for pitches on how to structure the sale, said the people, who asked not to be identified because they aren’t authorized to speak publicly about the matter. The deadline for proposals is Nov. 29,…

Kenya’s Biggest Bank Sees Rate Caps Staying Until at Least 2019

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s biggest bank reckons limits on interest-rate charges that have weighed on profit will be around for at least another year. “There are a lot of conversations happening and I have not seen anything today that says that we are ready to move,” KCB Group Ltd. Chief Executive Officer Joshua Oigara said in an interview in the capital, Nairobi, last week. Even the bank’s best-case scenario is that a review process of the…

Kenyan Court Backs President’s Vote Win, Ending Uncertainty

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s top court upheld Uhuru Kenyatta’s presidential-election win, ending three months of electoral uncertainty that have slowed growth in East Africa’s biggest economy. Stocks gained the most in two months. Kenyatta won the rerun fairly and electoral authorities’ failure to hold polling in the country’s western region didn’t invalidate the outcome, the Supreme Court ruled Monday, rejecting all of the petitions challenging the vote. “The court has unanimously determined that the…

Secession Talk Enters Kenyan Mainstream as Poll Feud Simmers

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s protracted election dispute has spawned secession calls from opposition supporters who say their vote has no influence on how East Africa’s biggest economy is governed. The increased agitation follows the declaration of President Uhuru Kenyatta as the winner of October’s election rerun that the main opposition alliance boycotted, alleging it wouldn’t be a fair vote. His victory in the poll, in which turnout was just 38.8 percent and clustered in…

Kenya Stares at Bleak 2018 Outlook in Vote Mess Aftermath

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya is facing an economic storm in 2018 in the aftermath of two disputed elections. Saddled with the triple threat of austerity measures to pay for those votes, slowing credit growth and new accounting rules for banks, Kenya now risks missing the government’s forecast for 6 percent economic growth next year, according to lenders including Nairobi-based Stanbic Bank Kenya Ltd. Investec Bank Ltd. strategist Chris Becker says expansion could slow to as…

« 1 … 4 5 6 7 8 … 51 »