Thursday 21 September 2017
( FOROYAA Newspaper 08/07/13)
With its abundance of natural resources and large and growing population , Africa is the next frontier for many global companies. However, while investors are keen to get, there's often a wariness on the part of Africans. The BBC's Vineet Khare travelled to Ethiopia to find out about what can be a tricky relationship and how things are not always so rosy. Watch the video...
(AFP (eng) 08/06/13)
NAIROBI (AFP) – Kenya on Monday revoked all mining licences granted in the months before and after March elections and announced that it was hiking royalties paid by companies operating in its nascent mining sector. "I have today revoked all licenses (Prospecting, Exploration and Mining), issued between 14 January 2013 and 15 May 2013," Mining Minister Najib Balala said, according to a statement from his ministry. The move "follows a number of complaints regarding the issuance process," the ministry said. The mining ministry was set up after President Uhuru Kenyatta won in the March elections as part of a bid to broaden Kenya's economy. According to the Kenyan Chamber of Mines more than 300 local and foreign firms are now...
(Standard Digital 08/06/13)
Nairobi residents will have to purchase a set top box by December 13 this year if they want to view any form of television programming. This follows a consensus among warring parties as to when the analogue signal should be switched off. The digital migration date had been postponed severally in the past. The decision to switch off, arrived at Tuesday by the Digital Television Committee, will be done in phases to allow for a smooth transition ahead of the June 17, 2015 global deadline. The first phase will be in Nairobi in December where the analogue signal will be switched off while the Second phase will be on March 30, 2014 in Mombasa, Malindi, Nyeri, Meru, Kisumu, Webuye, Kisii,...
(Awareness Times 08/06/13)
High Commissioner to Sierra Leone’s Emissary to the Republic of Uganda with residence in Ethiopia, Andrew Bangali, left Addis Ababa 2nd August 2013 to represent His Excellency President Dr. Ernest Bai Koroma at the African Union Mission in Somalia (AMISOM) Troop Contributing Countries’ Summit of Heads of States slated for 4th August 2013 in Kampala.President Koroma was unable to attend the Summit due to prior state functions back home. The meeting which was summoned by the Ugandan President, His Excellency Yoweri Kaguta Museveni aimed at reviewing the current situation in Somalia as well as discussing how the different players in the peace-building process can better achieve their mandate. The invitation letter from President Museveni sent to Sierra Leone’s Mission in...
(New Vision 08/06/13)
Regional heads of state still want other African countries to contribute to the stabilization effort in Somalia under AMISOM. So far, this role has been played by states under the regional grouping of the Inter-Governmental Authority on Development (IGAD) as well as Sierra Leone and Nigeria. AMISOM is presently comprised of 6,000 Ugandan troops, 5,000 from Burundi, 4,000 Kenyans and 1,000 troops from Djibouti. There are also 850 troops from Sierra Leone, with police units from Nigeria and Uganda. Uganda, which was the first to deploy troops in the Horn of Africa nation in March 2007, has the biggest troop numbers in Somalia. The heads of state and government of the troop-contributing countries under AMISOM as well as Ethiopia and...
(Midnimo 08/06/13)
Kenyan President Uhuru Kenyatta left on Saturday evening to Uganda for a regional summit which is aimed at reinforcing security in Somalia. A statement issued in Nairobi said Kenyatta will attend the Africa Union Peacekeeping Mission in Somalia (AMISOM) Troops Contributing Countries Summit of Heads of State. “The summit will discuss recent developments and map out ways of addressing challenges faced by the AMISOM,” the statement said. Kenya, Uganda, Burundi, Ethiopia, Djibouti and Sierra Leone are the countries contributing troops to AMISOM. Other leaders attending the summit, which opens on Sunday, are Ethiopia’s Prime Minister Hailemariam Desalegn, Somalia President Hassan Sheikh Mohamud and host Ugandan President Yoweri Museveni. Analysts say the Horn of Africa nation has improved security and enhanced...
(The Associated Press 08/06/13)
NAIROBI, Kenya – American personnel at the U.S. Embassy in Nairobi will stand beside Kenyan colleagues Wednesday who were wounded in the devastating attack on the downtown embassy 15 years ago. During a week of heightened security concerns at U.S. embassies mostly in the Arab world, the East African countries of Rwanda, Burundi, Mauritius and Madagascar were added to the U.S. embassy closures list Sunday. Diplomatic posts in 19 cities will be closed this week. Rwanda and Burundi sit in the same East African region that holds Kenya and Tanzania, the two countries hit in simultaneous embassy attacks masterminded by Osama bin Laden on Aug. 7, 1998, killing 224 people, mostly Kenyans. The State Department shut down U.S. facilities in...
(Reuters 08/06/13)
Tue Aug 6 (Reuters) - Barclays Bank of Kenya said peaceful presidential elections and a more stable economic environment should lead to a better second half, after its first-half profit was hit by a one-off payment for early retirement costs. Although the bank is one of the oldest in the country, it has seen its earnings grow at a slower pace than its rivals in recent years, as its model of focusing on wealthier clients was challenged by home-grown lenders like Equity Bank. Jeremy Awori, the managing director for the bank that is controlled by Barclays Plc, said first-half profit fell to 5.5 billion shillings ($63 million), but would have been flat for the period at 6.3 billion barring the...
(Reuters 08/06/13)
MOMBASA, Kenya, Aug 6 (Reuters) - Kenya's tourism numbers sunk in the first five months of the year and the outlook seems gloomy, a senior tourism official said on Tuesday in a blow to the new government's ambitions to grow the sector and create new jobs. Sam Ikwaye, head of the Kenya Association of Hotel Keepers and Caterers in Coast region, said arrivals between January and May fell 15 percent on last year as visitors worried by attacks blamed on Somali militants and possible trouble around March's elections stayed away. "We are worried that even the second half of this year might not do well," Ikwaye told Reuters. "Our main source markets in Europe like Germany and France are not...
(Business Daily 08/06/13)
Just half the households in Nairobi have migrated to digital broadcasting four months to the December 13, 2013 switch-off deadline for analogue signals in the city. The Information Communication and Technology (ICT) ministry on Tuesday said only 500,000 households in Nairobi out of an estimated 1,000,000 owning televisions sets have acquired the gadgets, commonly called set top boxes. The gadgets convert analogue signals to digital form. The Principal Secretary ICT Joseph Tiampati said the slow pace of migration could see many blacked out or locked out of communication if the trend continuous. The staggered government programme has set December as the switch-off date for the Nairobi region while the other parts of the country will be done gradually as it...
(In2 East Africa 08/06/13)
Addis Ababa — A Kenyan business delegation was last week in Addis Ababa to follow up on the implemention of the Special Status Agreement signed last November. They met Prime Minster Hailemariam Desalegn at his office to specifically look into the interests of Kenyan investors wanting to set up enterprises in Ethiopia. According to a government statement Hailemariam explained how Kenya and Ethiopia are working to integrate their economies as spelt out in the special economic agreement. Cooperation covers such things as the electric transmission line, the road and rail lines under development. Dr. Tedros Adhanom, the Minister of Foreign Affairs, also had talks with the delegation. He assured them Ethiopia considers the Special Status Agreement a vital instrument to...
(Business Daily 08/06/13)
The top-ranking US trade official Michael Froman said on Monday that issues of "reciprocity" will be raised at a US-Africa conference next week in Ethiopia that will consider renewal of the Agoa trade initiative. The African Growth and Opportunity Act, which is due to expire in 2015, gives duty-free treatment to Kenyan textiles and many other African exports to the United States. Agoa is said to be responsible for creating thousands of jobs in the Kenyan textile industry. But as a condition to Agoa's extension beyond 2015, American negotiators may press African countries to give the same preferential treatment to US exports to Africa. Ambassador Froman made clear in a talk at the Brookings Institution in Washington that the US...
(Reuters 08/06/13)
NAIROBI | Tue Aug 6, 2013 Aug 6 (Reuters) - Barclays Bank of Kenya's half year pretax profit fell 13 percent to 5.5 billion shillings ($63 million), weakened by a one-off payment for early retirement costs, its managing director said on Tuesday. Jeremy Awori, the managing director for the bank that is controlled by Barclays Plc, said the bank's profit would have been flat for the period at 6.3 billion shillings barring the cost, and forecast a better second half performance. Earnings per share fell to 0.69 shillings to the end of June from 0.79 shillings in the same period last year.
(Reuters 08/06/13)
LAGOS/SYDNEY, Aug 6 (Reuters) - Nigeria is gradually opening up to Islamic finance, a move that could bring non-interest banking to over 80 million Muslims and develop one of Africa's fastest-growing consumer and corporate banking sectors. Home to the largest Muslim population in sub-Saharan Africa, Nigeria is trying to establish itself as the African hub for Islamic finance, which follows religious principles such as bans on interest and gambling. In recent months, a string of regulatory initiatives have set the groundwork for products such as Islamic bonds (sukuk), insurance (takaful) and interbank lending products, although there is still only a small number of local market participants. "The potential is there but the market is negligible in Nigeria because we have...
(Africa Review 08/05/13)
Leaders of countries contributing troops to the African Union peacekeeping mission in Somalia (Amisom) Sunday said unfair accusations, deliberate distortion of facts and bad mouthing against their members must stop. The leaders’ spoke in the wake of a statement appearing in Kenyan and Somali media, attributed to some Somali leaders, saying Kenya should withdraw its troops from the Horn of Africa country. The Somali delegation withdrew the statement at the meeting at Munyonyo, Uganda, after Kenya and other regional countries strongly objected. Kenya has played a leading role in peace initiatives in Somalia, leading to major achievements including liberation of the Port of Kismayu. In a communiqué issued at the end of the Amisom Troops Contributing Countries (TCC) Heads of...
(New Zimbabwe 08/05/13)
The leaders of Kenya and Tanzania have congratulated President Robert Mugabe on his election victory, joining regional economic power house South Africa in endorsing a poll dismissed by the opposition as a "huge farce". Mugabe who was seeking a seventh five-year term as President was declared the winner at the weekend with about 61 percent of the vote, emphatically beating rival Morgan Tsvangirai who won 34 percent of the ballot. Tanzania president, Jakaya Kikwete, who heads the SADC organ on defence and security which held a number of meetings on Zimbabwe in the run-up to the polls, said Mugabe's re-election was a clear "testimony of the confidence and trust the people of Zimbabwe bestowed upon him". "Under your able leadership,...
(Reuters (Eng) 08/05/13)
NAIROBI, Aug 5 (Reuters) - Kenya has unexpectedly increased royalties on minerals produced in the east African country and revoked certain mining licenses to get a bigger share of earnings from its mining sector. The new measures, which came as a surprise to mining companies in the country, followed a sector-wide review and was aimed at ensuring east Africa's biggest economy got a more favourable deal, Mining Secretary Najib Balala said. Kenya has proven deposits of titanium, gold and coal. But the country's mining sector is a relatively small contributor to national output although its revenues are expected to grow as new mines come onstream. Kenya's action follows measures in Tanzania, Africa's fourth-largest gold producer, which passed new mining legislation...
(Reuters 08/05/13)
NAIROBI | Mon Aug 5, 2013Reuters) - National Bank of Kenya said on Monday its pretax profit edged up 3.5 percent in the first six months of 2013, but its numbers still lagged behind other lenders as it overcomes more than a decade of heavy losses. The lender, which is 70 percent owned by the government and Kenya's state pension fund, said pretax profit rose to 944 million shillings ($10.8 million), helped by a sharp 38 percent fall in total interest expenses to 1.25 billion shillings. Interest income, as benchmark Kenyan borrowing and lending fell from the second half of last year, for comparison dropped just 10 percent. The difference partly reflects the bank's large holdings of government deposits, on...
(Capitalfm Business 08/05/13)
NAIROBI, Kenya, Aug 5 – On August 1, 2013, two Kenyans made the headlines as they were finally reunited with their families after 18 months in the hands of Al Shabaab captors. Journalists jostled for space, trying to get the best angle and perhaps a glimpse of Mule Yesse and Fredrick Wainaina. But as the camera lenses focused on the two Kenyans, their families and their ordeal, four other Kenyans and their families went unnoticed. Evans Mutoro is one of them. “My son was captured before Mule and Wainaina and I have not heard anything concerning his whereabouts. If he is still alive, I pray that God keeps him safe,” Mutoro’s father told Capital FM News. And I just want...
(Horseed Media 08/05/13)
President Kenyatta said he saw no room for wavering or distraction on the objective of curbing Al Shabaab’s heinous acts of terrorism in which people, mainly in East Africa, had lost lives and property destroyed. “Our first, second and third priorities must remain to root out Al Shabaab and fully stabilize the Somali state. There can be no wavering or distraction from that clearly and openly stated objective,” President Kenyatta told a summit of states contributing troops to the African Union Mission in Somalia (AMISOM). The tough-talking President Kenyatta told the Somali Federal Government that it needed to match the Troop Contributing Countries’ sacrifices by deploying all its energies to AMISOM’s success. “This is an imperative from which we cannot...

Pages