Friday 23 June 2017
(Capitalfm Business 05/11/17)
The Independent Electoral and Boundaries Commission (IEBC) has extended the deadline for parties to submit their lists of nominated candidates to Sunday. In a statement,IEBC Chairman Wafula Chebukati stated that the change was occasioned by the 210 cases pending before the Political Parties Disputes Tribunal. “The Commission notes that there are 210 pending disputes at the Political Parties Disputes Tribunal. To allow the Tribunal to complete and determine cases before it, the political parties affected are due to submit their list of candidates on or before 14 May 2017,” he stated. The deadline had elapsed on Wednesday at midnight, even as parties strived to dispense with the many disputes lodged after the primaries. “This will give room to the Political...
(Xinhuanet 05/11/17)
Kenyan President Uhuru Kenyatta said that the Belt and Road Forum for International Cooperation will inject strong vitality into Africa-China cooperation. Kenyatta, together with other heads of state and government, will attend the forum scheduled for Sunday and Monday in Beijing. The forum will outline a new vision for multilateral cooperation and offer an opportunity for African countries to modernize their economies with technical and financial support from China, Kenyatta told a media briefing on Tuesday. "I look forward to this particular meeting ... and expect positive results that will be mutually beneficial in the principle of win-win situation for China, Kenya and Africa," he said. "The trip to China presents an opportunity to push Africa's integration agenda through infrastructure...
(Bloomberg 05/11/17)
Safaricom Ltd. is still facing the threat of being broken up as the Kenyan regulator weighs up a report on dominance in the country’s telecommunications industry, Chief Executive Officer Bob Collymore said. East Africa’s biggest company by market value may resort to court action to prevent it from being split, Collymore, 59, said in an interview Wednesday in the capital, Nairobi. The issue is serving as a distraction for the company’s management and sending “really worrying messages” to investors, he said. “That noise is still there,” Collymore said. “We keep operating within the law. When necessary we will use the law to challenge judgments or pronouncements which we don’t think are either legal or constitutional.” The company’s shares fell 2...
(Financial Times 05/11/17)
Banking regulation must change to avoid a self-fulfilling downturn. Are there troubles ahead for the Kenyan economy? In recent years, headline numbers have been relatively strong but now the economy is slowing and the underlying fundamentals appear to be deteriorating. Financial conditions are tough and in the banking sector there has been talk of a crisis in confidence about the policy approach. What should be done? The outlook for any economy depends on the interaction between the fundamentals, policy and confidence. The fundamentals show that from 2011 to 2016 Kenya’s economy grew at a solid average rate of 5.6 per cent. This was above the sub-Saharan average of 4.3 per cent. The first half of 2016 saw an acceleration to...
(Daily Monitor 05/11/17)
Uganda's electricity exports to Kenya grew 300 per cent in the four months to April as drought cut the neighbouring country's local generation of hydro-electric power by 347 million kilowatt hours. Kenya imported 92.3 million kilowatt hours (kWh) from Uganda in the four months compared to 13.66 million units in the same period last year - marking a 302 per cent growth, according to official data. This is a departure from last year when Kenya cut by half electricity imports from Uganda following the injection of the additional 280 megawatts geothermal power to the national grid a year earlier. But the drought, which follows low rainfall during the October and November rainy season, has left at least 1.3 million people...
(Daily Nation 05/11/17)
Thousands of youth are on Thursday expected to throng recruitment centres as the National Police Service starts selecting applicants to join the force. The service is targeting to recruit 10,000 youths, who will be trained for nine months. The Independent Policing Oversight Authority has sent its officials to monitor the recruitment to ensure it is transparent, corruption-free and that regulations are followed. "The manner in which officers are recruited is, therefore, a key component of policing, which Ipoa is keen to ensure is done transparently and in a manner that is accountable to the public. "Ipoa remains committed to being independent, impartial and shall monitor the extent to which National Police Service Commission (Recruitment and Appointment) Regulations, 2015 will be...
(Capitalfm Business 05/10/17)
President Uhuru Kenyatta met Egyptian President Abdel Fattah Al-Sisi on Wednesday as part of his campaign to bolster trade, immigration and security cooperation with the Northern Africa powerhouse. President Al-Sisi hosted the meeting at Cairo International Airport. President Kenyatta was in the Egyptian capital for a refuelling stop on his way to the United Kingdom for the 3rd London Conference on Somalia which he will attend on Thursday. The Cairo Summit is among a host of meetings President Kenyatta will hold with global leaders during a frenetic schedule of engagement in the month of May to promote Kenya’s investment credentials, improve intra-Africa trade cooperation and seeking partnerships to continue to strengthen the nation’s security. The President’s agenda is to continue...
(Xinhuanet 05/10/17)
Kenyan President Uhuru Kenyatta on Wednesday travelled to Britain to attend the 3rd London Conference on Somalia to secure high-level international support for the Horn of Africa nation. A statement issued after his departure said the conference will focus on accelerating the progress of security reforms in Somalia, build on the international response to the ongoing drought and humanitarian crisis, and agree on the new international partnership needed to keep the Horn of Africa nation on course for increased peace and prosperity. "Kenya recognizes Somalia security and stability is intertwined with our own. It is imperative to help Somalia achieve stability and that is why the London conference
(Capitalfm Business 05/10/17)
President Uhuru Kenyatta has reached out to Benin in his latest quest to expand the export market for Kenya’s products, including coffee, tea and fresh produce. The President pitched for the new market for Kenyan exports when he held talks with President Patrice Talon of Benin that focused on deepening economic ties between Kenya and the West African nation. He also spoke strongly on expanding intra-Africa trade, including through improved air services to better link African cities. President Kenyatta met President Talon – who is on an official visit – at State House, Nairobi, and expressed the need for the two countries to increase their bilateral trade. President Kenyatta has cultivated close working relationships with leaders from all corners of...
(The Associated Press 05/10/17)
The U.S. Embassy in Kenya says it has suspended approximately $21 million in assistance to Kenya’s ministry of health because of concerns about corruption. The step was taken due to reports of corruption and weak accounting procedures at the ministry, the embassy said in a statement Tuesday. Late last year Kenya’s security agencies started an investigation in the ministry over the alleged diversion of more than $50 million. Kenya is ranked 145 out of 176 countries in Transparency International’s index of the world’s most corrupt countries. According to a government survey published last year, corruption permeates key government sectors in East Africa’s largest economy. Kenyan President Uhuru Kenyatta held a special conference on corruption last year where he said he...
(Mail & Guardian 05/10/17)
It has been widely reported, in both Kenya and South Africa, that the Kenyan government has issued a travel advisory, warning Kenyans against travel to South Africa. South Africa, apparently, is too dangerous. Except that’s not what happened. “The Government of the Republic of Kenya has not issued any travel warning barring her citizens from travelling to South Africa,” said Kenya’s Ministry of Foreign Affairs, in a statement. According to the ministry, the warnings about crime and insecurity in South Africa – including that “the diplomatic community is being openly attacked in residential areas and in the central business district” – was contained in an internal memo circulated to senior ministry officials only. A travel advisory is official advice from...
(Reuters (Eng) 05/10/17)
The U.S. government has suspended $21 million in direct aid to Kenya's Ministry of Health amid concern over corruption, the embassy said on Tuesday, giving emphasis to an issue that is a growing liability for the government before August elections. Support for HIV drugs and other health programs outside the ministry would continue, the embassy said, adding that the United States invests more than $650 million on health in Kenya annually. "We took this step because of ongoing concern about reports of corruption and weak accounting procedures at the Ministry," the statement from the embassy said. "We are working with the Ministry on ways to improve accounting and internal controls." The announcement adds weight to a rising number of scandals...
(Fox News 05/10/17)
After five years of no major attacks on merchant vessels, piracy around the Horn of Africa seemed to be on hiatus. Acts of piracy in those treacherous waters have fallen sharply since 2012, according to statistics released by the United States Navy. The Navy credits aggressive patrolling by international forces and increased vigilance by the commercial shipping industry for the decrease. However, in the past month, Somali pirates have intercepted five ships, raising concerns that piracy has returned to the Indian Ocean, beginning with the kidnapping of a Sri Lankan crew from the Aris 13 oil tanker on March 13th (they were later released without a ransom). Nobody thinks the problem will end until a stable government is restored in...
(AFP (eng) 05/09/17)
The US has suspended millions of dollars of aid for Kenya's beleaguered health service following repeated allegations of corruption and mismanagement, officials said Tuesday. The US embassy in Nairobi said $21 million (19 million euros) of aid for the Ministry of Health had been suspended indefinitely, out of a total of $650m the US spends annually on health in Kenya. "We took this step because of ongoing concern about reports of corruption and weak accounting procedures at the ministry," the embassy said in a statement. Kenya's health minister Cleopa Mailu acknowledged the suspension -- which comes after an alleged $49m corruption scandal last year and a three month nationwide strike by doctors and nurses that ended in March -- but...
(The New York Times 05/09/17)
Pauline Kimari is a pharmacist in Ndaragwa, Kenya, a small town several hours’ drive north of Nairobi. She moved there from rural Muranga, several hours away, to open a small shop, Ndaragwa Joy Chemist. It is white with blue and green doors and a blue bench inside. She sells medicine and cosmetics. She is 43, devoted to God and her family. Her parents in Muranga still farm coffee, tea, corn, beans and other vegetables. Kimari’s success allows her to send them money regularly. “I’ve been a great help to them,” she said. She used to have two ways to send money, neither satisfactory. She could buy a money transfer at a bank. Her parents would travel to the nearest town...
(Bloomberg 05/09/17)
Kenyan President Uhuru Kenyatta may face a runoff vote after elections in August because spiraling food inflation and an inadequate response to corruption are eroding support for his party, according to Teneo Intelligence. Kenyatta will compete against a unified opposition and independent candidates who will draw votes away from his candidacy, increasing the likelihood for a second-round vote, Ahmed Salim, a Dubai-based analyst at the risk consultancy, said in an emailed note. “Although opinion polls signal that Kenyatta remains the favorite, his re-election will likely be much more challenging than in 2013,” Salim said. Kenyatta’s main opponent in the election will be former Prime Minister Raila Odinga, who heads a coalition of five opposition parties. In 2013, Kenyatta won the...
(Reuters (Eng) 05/09/17)
At midday in Abimbo village on the Kenyan shore of Lake Victoria, 32-year-old Rachel Atieno is busy spreading out her silver cyprinid fish to dry in the sun. Atieno, a mother of five, has sold the fish since her husband died 10 years ago leaving her to support her family. With no other income, she was left with no option but to trade sex with the fishermen for a share of their catch. Sex-for-fish, known locally as "jaboya", is common practice in Abimbo village in western Kenya's Siaya County and throughout sub-Saharan Africa. "This 'jaboya' thing will always be there. In fact it has increased due to the poverty in our area and those who do it do so because...
(Xinhuanet 05/09/17)
The UN refugee agency said Monday it had repatriated some 62,372 Somali refugees from Dadaab camp in northeast Kenya since the return exercise begun in December 2014. The UN High Commissioner for Refugees (UNHCR) said in its bi-weekly update that some 707 refugees were supported to return to their home in Somalia voluntarily in the past ten days. According to the UNHCR, some 23,058 refugees out of 62,372 returned in 2017 as the UN refugee agency steps up returns to the Horn of Africa nation. The UN agency said road convoys to Somalia remained suspended due to the heavy rains in some parts of the Horn of Africa nation. UNHCR Somalia and its partners are closely monitoring the accessibility of...
(The Star 05/09/17)
Kenya's presidential candidates will go head to head in televised debates on July 10 and 24, ahead of the general election on August 8. The American-style debates will see the candidates reach out to the widest possible audience to explain how they would govern Kenya if elected. They are aimed at helping voters make informed choices, promoting national cohesion and steering campaigns towards the quality of leadership rather than personalities. Royal media services CEO Wachira Waruru said the sessions will take place from 7.30pm at Catholic University of Eastern Africa. The running mates' debate will take place on July 17 at the same time. Waruru noted the media's aim is to entrench a culture of civilised discourse through sessions that...
(The Star 05/09/17)
Kenya Reinsurance Corporation has been ranked as the most attractive publicly traded insurance company from financial health and intrinsic value perspective in an annual analysis by Cytonn Investment. The report is based on industry’s financial performance for 2016. In the report, the franchise score measures the broad and comprehensive business strength of the company and the intrinsic score measures the total return potential. The report shows that CIC Group dropped from top position in 2015 to rank fourth. Cytonn attributed this to poor return on average tangible equity, low levels of diversification and lower ability to absorb sudden large shocks owing to a high ratio of claims to shareholder’s funds. Sanlam Kenya ranked last as a result of poor return...

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