NAIROBI (Reuters) – Most Kenyans want public officials among the six suspects the International Criminal Court (ICC) has named as being behind the 2007 post-election violence to quit or be sacked, a poll showed on Saturday.
The ICC Chief Prosecutor’s list released on Wednesday included Finance Minister Uhuru Kenyatta, industrialization minister Henry Kosgey, cabinet secretary Francis Muthaura and former police chief Mohammed Hussein Ali, now head of state-run Postal Corporation of Kenya.
NAIROBI, Nov 19 (Reuters) – Barclays Bank of Kenya (BBK.NR: Quote, Profile, Research, Stock Buzz)
posted a 6 percent rise in nine-month pretax profit, helped by
new products and increased risk management.
“During the quarter we maintained a positive outlook and
strengthened the business with the introduction of new products
and offerings for both consumer and corporate customers,”
managing director Adan Mohamed said on Friday.
NAIROBI, Nov 19 (Reuters) – Kenya’s sole power distributor
Kenya Power and Lighting (KPLC.NR: Quote, Profile, Research, Stock Buzz) said on Friday it was aiming
to raise 9.5 billion shillings ($119 million) from a rights
issue which opens on Dec. 1, lifting its share price.
KPLC said in a statement the price for 488.6 million new
ordinary shares on offer had been set at 19.5 shillings. The
company said last month it was aiming to raise 7-10 billion
shillings to upgrade its grid. [ID:nLDE69R0OF]
NAIROBI, Oct 13 (Reuters) – Kenya plans to amend its laws
governing trade in publicly issued securities so that they can
change hands outside approved exchanges, to boost liquidity and
ease debt issuance, the regulator said on Wednesday.
The Capital Markets Authority (CMA) did not give specific
details, but commercial banks have long sought to be allowed to
trade bonds directly over the counter as opposed to going
through stock brokerages. [ID:nLDE6291FG]
NAIROBI, Sept 16 (Reuters) – Kenya said on Thursday it was
seeking investors to explore and develop coal deposits in four
blocks in a basin north east of the capital.
The Ministry of Energy said the areas in question were in
the Eastern Province on the Mui Basin, 180 km (112 miles) north
east of Nairobi, with a total area of about 490.5 square km.
NAIROBI (Reuters) – Kenyans voted in favor of a new constitution in a peaceful referendum that could reshape the political landscape of east Africa’s largest economy, partial results showed on Thursday.
With provisional results from more than half of the polling stations released by the electoral authority, 67 percent of Kenyans had backed the charter, making it extremely unlikely the “No” camp could catch up.
NAIROBI, Aug 5 (Reuters) – Kenyans voted in favour of a new constitution in a peaceful referendum that could reshape the political landscape of east Africa’s largest economy, partial results showed on Thursday.
With provisional results from more than half of the polling stations released by the electoral authority, 67 percent of Kenyans had backed the charter, making it extremely unlikely the "No" camp could catch up. [ID:nLDE67216I]
The "Yes" camp claimed victory late on Thursday morning with Energy Minister Kiraitu Murungi saying Kenyans had spoken with a "thunderous voice" and that "Kenya has been truly reborn".
Higher Education Minister William Ruto, leader of the "No" side, then conceded defeat but quickly went on the offensive before a news conference due to be held later by the winners, President Mwai Kibaki and Prime Minister Raila Odinga.
Ruto said 60 percent of registered voters had abstained or said "No", so there should be immediate consultations with the "Yes" side on agreeing amendments to the new draft.
Coming two years after allegations over vote-rigging in a presidential election ignited violence that killed 1,300 people, the referendum boosted the Kenyan shilling KES= against the dollar and extended the Kenyan stock market’s recent gains. [ID:nLDE674095]
The changes put to voters on Wednesday allow for greater checks on presidential powers, more devolution to grassroots administrations and an increase in civil liberties.
The new legal framework addresses the corruption, political patronage, land-grabbing and tribalism which have plagued Kenya since it won independence from Britain in 1963.
"Confidence was a key requirement for economic turnaround, and the peaceful passage of the vote should do a lot to underscore that," said Razia Khan, Africa economist at Standard Chartered Bank.
PROTECTION AGAINST UPHEAVAL
After years of marred elections, the charter is seen as an important step in avoiding a repeat of the post-election tribal bloodshed in early 2008 that pushed the country of about 40 million people to the brink of anarchy.
Kenya, which borders Somalia, Ethiopia, Sudan, Uganda and Tanzania, is the fourth largest economy in sub-Saharan Africa after South Africa, Nigeria and Angola.
Despite the loss, Ruto’s ambition to run for president in the 2012 election was bolstered by a big win for the "No" camp in the Rift Valley. Ruto, a cabinet minister based in Kenya’s largest province, had championed the cause of voters who were angry about clauses related to land ownership and he said these contentious issues must now be addressed by the government.
"We urge the winners and losers to come together for the sake of the country so we can concentrate on development issues," said Jane Njeri, who is living in a camp in Gilgil for Kenyans displaced by past electoral violence.
In the fertile Rift Valley, the "No" camp’s stronghold and the epicentre of the violence after the last election, some said Kenyans should now unite and reject divisive politics.
"The real issue lies with our leaders. Reform is not only on paper but I doubt the leaders can unite. They protect their ill-gotten wealth by pitting communities against each other," said Tom Murgor, 55, a civil engineer and Kalenjin in Eldoret.
The fighting in the Rift Valley after the last election essentially pitted ethnic Kalenjins supporting the opposition against the Kikuyu tribe of Kibaki.
No major incidents were reported at Kenya’s 27,689 polling stations. Some 12.5 million people were registered to vote.
By 0730 GMT, the "Yes" camp had 4.2 million votes with 2.1 million against. Final results were expected later on Thursday.
To be adopted, the law required 50 percent plus one vote of the ballot cast nationally, and at least 25 percent of the votes in five of Kenya’s eight provinces.
Regional election observers said they were satisfied with the voting process, and called for calm during the count.
The new charter was a key provision in the power-sharing deal struck between then-rivals Kibaki and Odinga to end the violence after the 2007 election. Analysts said the win would support Odinga’s presidential ambitions.
NAIROBI, June 2 (Reuters) – An increasing number of Kenyan
companies plan to start generating their own electricity to help
lower power costs, improve reliability of supply and add new
sources of revenue.
Kaluworks, Kenya Petroleum Refineries and Unilever Kenya Tea
(ULVR.L: Quote, Profile, Research) are the three latest firms to lodge applications for
licences with the Energy Regulatory Commission. They plan to put
up plants to generate at least 109 MW.
NAIROBI, May 24 (Reuters) – East African Community, a
five-nation trade bloc that aims to have a monetary union in
2012, said on Monday that problems in the euro area will serve
as a lesson but will not discourage its move to a single
East African Community (EAC) comprises Uganda, Kenya,
Tanzania, Uganda and Burundi. It already has a customs union,
and a common market is due to take effect in July. After the
monetary union, it eventually aims to have a political
NAIROBI, April 29 (Reuters) – Kenya Commercial Bank
<KCB.NR>, the largest bank by assets in east Africa’s biggest
economy, posted a 10 percent rise in first quarter pretax profit
on Thursday and said it was optimistic for the rest of 2010.
Chief Executive Officer Martin Oduor-Otieno said the bank
would not add any more branches to its subsidiaries after an
expansion drive that has seen the number of KCB outlets in the
region rise to 210 from 180 in the first quarter of 2009.