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
NAIROBI, March 16 (Reuters) – Kenyan shares are expected to
rally from a prolonged and sharp sell-off, thanks to a local
currency hovering around record lows, rising inflation and
opportunities to pick up cheap stocks, analysts said.
Investor jitters in Kenya were compounded by bitter rifts in
the coalition government over the implementation of a new
constitution and wrangling over whether to send post-election
violence suspects to The Hague.
NAIROBI, March 10 (Reuters) – Co-operative Bank of Kenya
(COOP.NR: Quote, Profile, Research, Stock Buzz) recruited more customers, increased deposits and loans
to post a 55 percent jump in pretax profit and set a similar
target for 2011.
Firmly rooted in the east African country’s vibrant
co-operative movement, the bank has a financial supermarket
model that includes a stockbroking arm, a fund manager and a
stake in an insurance firm.
NAIROBI (Reuters) – Kenya Commercial Bank (KCB) (KCB.NR: Quote, Profile, Research, Stock Buzz), the country’s biggest lender by assets, plans to move into Zambia and Ethiopia and could consider acquisitions in its continental expansion plans, its chief executive said.
Ranked first in east Africa’s biggest economy with assets of $3 billion, KCB has operations in Tanzania, Uganda, Rwanda and South Sudan and has already said Burundi and the Democratic Republic of Congo are in its sights in the short-term.
NAIROBI, Feb 24 (Reuters) – Kenya Commercial Bank (KCB.NR: Quote, Profile, Research, Stock Buzz)
increased non-interest income and loans in 2010 to beat pretax
profit forecasts, and said it was confident about 2011, though
political risk remained a worry.
Ranked the largest bank in Kenya by assets, the bank said
pretax profit rose 56 percent to 9.8 billion shillings ($119.7
million), as expenses grew at a slower rate than total income.
NAIROBI, Feb 24 (Reuters) – Kenya’s NIC Bank (NIC.NR: Quote, Profile, Research, Stock Buzz) raised
its pretax profit in 2010 through bond trading gains and a
turnaround in its Tanzania operation and signalled it was in
Its management opted to issue a bonus share for every 10
ordinary shares held while keeping the total dividend per share
for the year unchanged from 2009 at 0.50 shillings.
NAIROBI, Feb 22 (Reuters) – Emirates Airline [EMIRA.UL]
expects the contribution of African routes to its cargo business
to rise this year as vibrant economies on the continent import
infrastructure gear and consumer goods, a senior executive said
Africa contributed 7 percent to the airline’s cargo haulage
of 1.6 million tonnes last year, Ram Menen, divisional senior
vice president for cargo told Reuters at an industry exhibition.