Duncan's Feed
Jan 10, 2013

Kenya seeks credit growth with big rate cut

NAIROBI, Jan 10 (Reuters) – Kenya’s central bank cut its
benchmark lending rate by a higher-than-expected margin on
Thursday in an effort to raise the level of commercial banks’
lending to the private sector.

Although policymakers embarked on an easing cycle in July,
commercial banks’ lending rates have remained stuck at about 20
percent, curbing economic growth ahead of a presidential
election set for March.

Dec 4, 2012

Kenyan Prime Minister launches coalition to take on rivals in vote

NAIROBI (Reuters) – Kenyan Prime Minister Raila Odinga said on Tuesday he would join forces with the country’s vice president in next year’s election, to challenge another alliance headed by two senior politicians facing charges of crimes against humanity.

Odinga, Vice President Kalonzo Musyoka and several other cabinet ministers danced in front of thousands of supporters in the Kenyan capital to launch their electoral pact.

Dec 4, 2012

Kenya PM launches coalition to take on rivals in vote

NAIROBI (Reuters) – Kenyan Prime Minister Raila Odinga said on Tuesday he would join forces with the country’s vice president in next year’s election, to challenge another alliance headed by two senior politicians facing charges of crimes against humanity.

Odinga, Vice President Kalonzo Musyoka and several other cabinet ministers danced in front of thousands of supporters in the Kenyan capital to launch their electoral pact.

Nov 9, 2012

West must lift Rwanda aid freeze or risk crisis: AfDB

NAIROBI (Reuters) – Western donors must lift an aid freeze on Rwanda, imposed over its alleged support for Congo rebels, to avoid damaging its economy and causing a new crisis in the region, the head of the African Development Bank (AfDB) said.

Rwanda, which relies on donors for about 40 percent of its budget, has recorded robust growth rates in recent years on the back of increased investments and consumption.

Nov 9, 2012

West must lift Rwanda aid freeze or risk crisis – African Development Bank

NAIROBI (Reuters) – Western donors must lift an aid freeze on Rwanda, imposed over its alleged support for Congo rebels, to avoid damaging its economy and causing a new crisis in the region, the head of the African Development Bank (AfDB) said.

Rwanda, which relies on donors for about 40 percent of its budget, has recorded robust growth rates in recent years on the back of increased investments and consumption.

Nov 7, 2012

Kenya c.bank cuts key rate 200 bps as inflation falls

NAIROBI, Nov 7 (Reuters) – Kenya’s central bank chopped its
benchmark lending rate to 11 percent from 13 percent on
Wednesday, following up on an even bigger cut in September, to
support the economy as inflation comes back down.

The central bank of east Africa’s largest economy is trying
to get monetary policy back on an even keel after rapid credit
growth last year caused the shilling to slump and inflation to
soar, forcing the bank to ramp its key rate up to 18 percent.

Nov 6, 2012

Kenya Airways sees grim year on security situation

NAIROBI (Reuters) – Kenya Airways expects to recover from a first-half loss but full year profits will still be less-than a quarter of last year’s, hurt by the euro zone crisis and insecurity at home, the airline said on Tuesday.

The carrier, which is 26.73 percent owned by Air France-KLM (AIRF.PA: Quote, Profile, Research, Stock Buzz) and is one of Africa’s largest, said earnings were mainly hobbled by lower travel demand and a jump in costs.

Nov 6, 2012

Kenya Airways sees grim year on security situation, euro

NAIROBI, Nov 6 (Reuters) – Kenya Airways expects
to recover from a first-half loss but full year profits will
still be less-than a quarter of last year’s, hurt by the euro
zone crisis and insecurity at home, the airline said on Tuesday.

The carrier, which is 26.73 percent owned by Air France-KLM
and is one of Africa’s largest, said earnings were
mainly hobbled by lower travel demand and a jump in costs.

Nov 5, 2012

Burundi economic reform too slow for impoverished citizens

BUJUMBURA, Nov 4 (Reuters) – The central African nation of
Burundi may be winning plaudits for its economic reforms and
relative peace after nearly two decades of civil war, but
shopowners like Niyonzima Alimasi have little to cheer.

“Purchasing power is low,” said Alimasi, 31, who runs a
hardware shop on a crowded street in the capital Bujumbura,
nestled on the shores of Lake Tanganyika.

Nov 4, 2012

Burundi’s economic reform too slow for its impoverished citizens

BUJUMBURA, Nov 4 (Reuters) – The central African nation of
Burundi may be winning plaudits for its economic reforms and
relative peace after nearly two decades of civil war, but
shopowners like Niyonzima Alimasi have little to cheer.

“Purchasing power is low,” said Alimasi, 31, who runs a
hardware shop on a crowded street in the capital Bujumbura,
nestled on the shores of Lake Tanganyika.