Duncan's Feed
Jan 7, 2012

Britain warns of militant attacks in Kenya

NAIROBI, Jan 7 (Reuters) – Britain believes militants
are completing plans to attack Kenyan institutions as well as
places frequented by expatriates and tourists, the British
Foreign Office said on Saturday.

Kenya stepped up security after sending troops into
neighbouring Somalia last October to pursue Islamist al Shabaab
rebels, whom it blames for a string of kidnappings and
cross-border attacks, often targeting tourists.

Jan 6, 2012

Kenya says kills 50 Shabaab fighters in airstrikes

NAIROBI (Reuters) – Kenyan jets bombed an al Shabaab camp in southern Somalia Friday killing 50 fighters of the rebel group and injuring 60 others, its military spokesman said.

Emmanuel Chirchir told Reuters the fighters of the al Qaeda-linked al Shabaab group at the camp situated south of Garbahare had been planning to attack Kenyan and Somali troops in two nearby towns captured by Kenyan forces this week.

Dec 13, 2011

Kenya banks unveil steps to prevent loan defaults

NAIROBI, Dec 13 (Reuters) – Kenyan banks announced
measures on Tuesday aimed at preventing loan defaults after a
series of rises in the central bank’s benchmark lending rate
increased costs for borrowers.

The Kenyan Bankers association said it had agreed not to
pass on the central bank’s latest 150 basis point rise in its
key rate to holders of existing loans.

Dec 12, 2011

Kenya’s Kibaki pleads with doctors to end strike

NAIROBI (Reuters) – Kenyan President Mwai Kibaki urged striking doctors at state hospitals on Monday to resume work after a week-long stoppage over demands for higher pay left patients unattended.

During a speech to mark 48 years of independence from Britain, Kibaki directed his minister of public service and other relevant officials to conclude talks over the pay dispute with the doctors’ union.

Nov 24, 2011

Kenya’s CFC Stanbic Bank Jan-Sept profit rises

NAIROBI, Nov 24 (Reuters) – Kenya’s CFC Stanbic Bank
posted a 58 percent increase in pretax profit during the nine
months ended September to 2.4 billion shillings ($26.58 million)
on the back of higher interest income, it said on Thursday.

Operated by CFC Stanbic Holdings, the bank is
ranked among the top five banks in asset terms in Kenya.

Nov 22, 2011

Kenya almost-doubles inflation target to 9 pct

NAIROBI, Nov 22 (Reuters) – Kenya’s central bank
changed another key policy aim by almost-doubling this fiscal
year’s inflation target to 9 percent, just weeks after being
driven to make a huge rate rise to combat soaring inflation and
save the plunging shilling.

Tuesday’s unveiling of the new target, for the year running
July to June, followed months of trenchant criticism of the bank
for not taking aggressive action to stop the shilling’s slide on
the back of double-digit inflation and a yawning balance of
payments gap.

Nov 16, 2011

Total Kenya nine-month profit tumbles 67 percent

NAIROBI, Nov 16 (Reuters) – Kenyan oil marketer Total
posted a 67 percent plunge in nine-month pretax profit
on Wednesday after government price-capping squeezed margins,
sales costs rose and volumes slipped in a tough environment.

The company, part of French oil major Total SA,
made a pretax profit of 195 million shillings ($2.1 million) and
said it would have swung to a loss were it not for 200 million
shillings income from the disposal of assets.

Nov 9, 2011

Safaricom keeps FY guidance as H1 profit slumps

NAIROBI, Nov 9 (Reuters) – Kenya’s largest telecoms
operator, Safaricom , held firm on its full year
forecasts on Wednesday in the face a 48 percent slide in
first-half profit as costs rose and voice revenue slipped amid a
punishing price war.

Chief Executive Bob Collymore told reporters the company
expected its earnings before interest, taxes, depreciation and
amortisation (EBITDA) margin to finish in the low-to-mid 30s and
for revenue to grow by high single digits over the full year.

Nov 3, 2011

Kenya Airways raises H1 profit ahead of cash call

NAIROBI, Nov 3 (Reuters) – Kenya Airways used fuel
hedges to protect its bottom line from an escalation in direct
costs in its first-half ended September, it said on Thursday, as
it prepares to raise funds to finance its expansion.

The airline, 26 percent owned by Air France-KLM ,
posted a 38 percent jump in pretax profit to 2.83 billion
shillings ($29 million) as 1.45 billion shillings in realised
gains from fuel derivatives offset a 52 percent jump in direct
costs, which it blamed partly on higher jet fuel prices.

Oct 25, 2011

Kenya arrests “terror cell” member after blasts

NAIROBI (Reuters) – Kenyan police said on Tuesday they arrested a man suspected of belonging to a terrorist group, a day after two blasts in Nairobi killed one person and injured more than 20 others.

The suspect, who had Kenyan identity papers, was detained along with an arms cache including 13 hand grenades, an AK47 rifle, a machine gun, four pistols, ammunition and copies of military literature, they said.