NAIROBI, July 5 (Reuters) – The Kenyan shilling
halted a five day winning streak against the dollar on Tuesday
pushed by oil sector demand for the U.S. currency, but traders
expected it to firm on the back of tight liquidity.
At the Nairobi Stock Exchange, the benchmark NSE-20 Share
Index reversed Monday’s gains, edging down by 0.6
percent to 3,938.53 points led by industrial stocks.
NAIROBI, June 23 (Reuters) – Essar Telecom Kenya, a unit of
Indian conglomerate Essar Group, hopes to break even in the
next two years through expansion of its network to tap more
subscribers, its country manager said on Thursday.
Operating under its “Yu” brand, Essar is the smallest
operator in the east African nation of 39 million people. Last
year, it doubled its users to 1.6 million — out of a total
subscriber base of 25 million, according to the industry
NAIROBI, June 23 (Reuters) – Kenya’s central bank has taken
unspecified action against some commercial banks to curb
speculative positions versus the currency of east Africa’s
largest economy, its governor said on Thursday.
The shilling hit a new low against the dollar of 91.90 on
Wednesday but recovered on Thursday to end at 90.1 after a
report the central bank would take steps to stem the trades.
NAIROBI, June 21 (Reuters) – Kenya’s government has set
aside 5 billion shillings ($55.04 million) to take up its shares
in an expected cash call by Kenya Airways (KQ) , the
country’s investment secretary said on Tuesday.
Esther Koimett said although the government is selling off
assets in various sectors from agriculture to banking, keeping
its 23 percent stake in the airline — one of Africa’s largest
and 26 percent owned by Air France-KLM — was a matter
of national interest.
NAIROBI, June 8 (Reuters) – Kenya’s president, Mwai Kibaki,
has stopped further cuts in the rate mobile phone operators
charge each other for calls made across a network, the Business
Daily newspaper reported on Wednesday.
The mobile termination rate (MTR) was set to fall to 0.90
shilling per minute next month from 2.21 shillings. Firms have
been lobbying to have the MTR frozen to prevent a price war
NAIROBI, June 2 (Reuters) – Kenya Airways (KQNA.NR: Quote, Profile, Research, Stock Buzz) posted
an 87 percent surge in yearly pretax profit to 5 billion
shillings ($58.1 million), due to higher passenger numbers and
cargo volumes, sending its shares up 8 percent.
Chief Executive Titus Naikuni said the airline — one of
Africa’s largest and 26 percent owned by Air France-KLM
(AIRF.PA: Quote, Profile, Research, Stock Buzz) — is upbeat on this year despite slight concerns
about pressure on yields from rising fuel costs and competition.
WHAT IS THE IMPACT OF THE PRICE WAR?
Calling rates have tumbled to as low as 1 shilling ($0.01)
per minute from 8 shillings last August when No.2 operator,
Indian group Bharti Airtel (BRTI.BO: Quote, Profile, Research), slashed tariffs by more
NAIROBI (Reuters) – Uganda’s President Yoweri Museveni vowed Saturday to ‘defeat’ a wave of deadly protests triggered by rising food and fuel prices.
Museveni was fielding questions from members of a Kenyan business club after giving a speech that was briefly interrupted by a man in the audience objecting to this week’s violent crackdown on protestors in Uganda.
MOMBASA, Kenya, April 20 (Reuters) – Kenya plans to force
telecom operators to share key infrastructure in an effort to
reduce sabotage sparked by intense rivalry among competitors, a
senior government official said on Wednesday.
Bitange Ndemo, permanent secretary in Kenya’s ministry of
information and communication cited frequent cuts to fiber optic
cables, which trigger outages, hamper business operations and
unnerve investors, as one reason for the move.
NAIROBI, April 14 (Reuters) – Kenya Airways (KQNA.NR: Quote, Profile, Research, Stock Buzz) has
signed a deal for the purchase of nine 787-8 Dreamliner planes
with Boeing Co. (BA.N: Quote, Profile, Research, Stock Buzz) to replace its ageing fleet and expand
routes and flight frequencies, it said on Thursday.
Kenya Airways Chief Executive Titus Naikuni said six of the
new planes would replace six of the company’s ageing fleet of
Boeing 767′s, while the rest would be for expansion on new