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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.

Feb 15, 2013

Kenyan brewer EABL’s profits hit by higher costs

NAIROBI, Feb 15 (Reuters) – East African Breweries Ltd
reported a sharp drop in half-year profits on Friday
due to a jump in its interest bill, but said sales across the
region were still rising, helped by new product launches and
growing demand.

The company, controlled by Britain’s Diageo Plc,
borrowed 19 billion shillings ($218 million) from its parent to
buy the 20 percent of its subsidiary Kenya Breweries which was
owned by SABMiller’s Tanzania Breweries.

Feb 14, 2013

Kenyan economy likely to grow up to 6 pct in 2013 – IMF

NAIROBI, Feb 14 (Reuters) – The International Monetary Fund
expects the Kenyan economy to grow at least 5.5 to 6 pct this
year from an estimated 4.5 to 5 percent in 2012, assuming
elections in March go smoothly, a senior fund official said.

“Kenya has stayed the course of its economic reforms and
this has worked quite well,” Domenico Fanizza, who has been
leading a mission to Kenya under the IMF’s Extended Credit
Facility, told a news conference on Thursday.

Jan 24, 2013

We will not bargain with al Shabaab over hostages: Kenya

NAIROBI (Reuters) – Kenyan officials said on Thursday they would not negotiate with al Qaeda-allied Somali militants who have threatened to kill their Kenyan hostages unless Nairobi frees Muslims held on terrorism charges.

On Wednesday al Shabaab released a video of two Kenyan hostages seized a year ago and told Kenya to meet its demands.