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Apr 10, 2013

Kenya Commercial Bank targets SMEs to lift returns

NAIROBI (Reuters) – Kenya Commercial Bank (KCB.NR: Quote, Profile, Research, Stock Buzz), east Africa’s biggest bank by assets, plans to improve returns for shareholders by stepping up lending to fast-growing small and medium sized businesses, its chief executive said on Wednesday.

Joshua Oigara told the Reuters Africa Investment Summit that the bank, which lags the returns of some rivals like Equity Bank (EQTY.NR: Quote, Profile, Research, Stock Buzz), aimed to lift its return on assets to 4.5-5.0 percent this year from 3.6 percent in 2012, and higher the year after.

Apr 9, 2013

Kenya swears in president, West faces balancing act

NAIROBI (Reuters) – Kenyan President Uhuru Kenyatta took his oath of office on Tuesday, presenting Western states with a challenge of how to deal with a leader indicted by the International Criminal Court.

After a calm election that followed a bloodbath five years ago, many Kenyans hope Kenyatta will deliver on his promise to be a president for all and not just work for his own ethnic group, a practice they have come to expect from politicians.

Apr 9, 2013

Kenya to swear in president facing trial in The Hague

NAIROBI (Reuters) – Kenyans packed a stadium to witness the swearing in of Uhuru Kenyatta as president on Tuesday after a peaceful election that has left Western nations with the challenge of how to deal with a leader indicted by the International Criminal Court.

Many Kenyans hope the son of the nation’s independence hero will live up to his pledge to be a leader for all and not just work for people from his own ethnic group, a practice they have come to expect from their politicians.

Mar 14, 2013

StanChart Kenya uses new cash to build up capital

NAIROBI, March 14 (Reuters) – Standard Chartered Bank of
Kenya will plough a big chunk of the 8.3 billion
shillings ($97.3 million) it raised last year into strengthening
its capital base to meet tougher regulations, the company’s CEO

The Kenyan central bank last year raised core capital
requirements for banks to 10.5 percent of assets from 8 percent,
and total capital to 14.5 percent from 12 percent.

Mar 10, 2013

Kenyatta declared winner of Kenya’s presidential vote

NAIROBI (Reuters) – Uhuru Kenyatta, indicted for crimes against humanity, was declared winner of Kenya’s presidential election on Saturday, but rival Raila Odinga said he would challenge the outcome in court and asked supporters to avoid violence.

Kenyatta, Kenya’s richest man and son of its founding president, faces trial on charges of playing a leading role in the wave of tribal killings that followed the disputed 2007 presidential election. His win on Saturday avoided what could have been a divisive a run-off penciled in for April.

Mar 9, 2013

Kenyatta wins Kenya presidency: provisional result

NAIROBI (Reuters) – The son of Kenya’s founding president, Uhuru Kenyatta, won the presidential election by a tiny margin with 50.03 percent, provisional results showed on Saturday, avoiding a run-off after a race that has divided the nation along tribal lines.

Kenyatta faces trial for crimes against humanity after the disputed 2007 presidential vote that unleashed tribal blood-letting.

Mar 8, 2013

Kenyan presidential election heads to nail-biting finish

NAIROBI (Reuters) – Kenya’s presidential race tightened on Friday as Uhuru Kenyatta’s lead slipped to a level that could mean there is no outright winner and open the way for a tense, second round run-off against his main rival Prime Minister Raila Odinga.

Kenyatta, 51, the deputy prime minister, who is due to go on trial at The Hague on charges of crimes against humanity linked to the violent aftermath of the last election in 2007, has led since results started trickling in after polls closed on Monday.

Mar 6, 2013

Kenyans await outcome of tight presidential vote

NAIROBI (Reuters) – Kenyan authorities were racing to gather final election results on Wednesday after a partial count gave the lead to a politician wanted in The Hague over violence following the previous vote.

Counting since Monday’s voting has been slow and complicated by hitches in a new electronic system. Politicians have complained about flaws in the process, stirring fears of a repeat of the troubles after the election five years ago.

Mar 5, 2013

Kenyatta takes early lead as Kenya counts votes

NAIROBI (Reuters) – Uhuru Kenyatta opened an early lead as Kenya continued the count on Tuesday in a presidential election that brought out millions of voters despite pockets of violence that killed at least 15 people.

Kenyans, who waited patiently in long lines, hope the vote will restore the nation’s image as one of Africa’s more stable democracies after tribal blood-letting killed more than 1,200 people when the result of the 2007 vote was disputed by rivals.

Feb 26, 2013

Kenyan city fears violence re-run ahead of tight vote

KISUMU, Kenya, Feb 26 (Reuters) – Some businesses in Kisumu,
Kenya’s third-largest city, have reduced stock or closed ahead
of Monday’s presidential elections for fear of a repeat of the
tribal violence that killed more than 1,200 people at the last
such vote five years ago.

On the outskirts of the Lake Victoria port city, abandoned
ruins still bear witness to the weeks of looting and torching
that brought East Africa’s biggest economy to a standstill.