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May 18, 2011

Madagascar’s Avana says eyes 2011 listing

NAIROBI, May 18 (Reuters) – Independent Madagascar-based oil
and gas explorer Avana Petroleum plans to list this year, a move
it hopes will raise about $35 million, its chief executive said
on Wednesday.

Avana has interests in exploration blocks across the western
Indian Ocean in Seychelles, Comoros, Madagascar and Mauritius, a
region that has been largely shunned by oil majors because of
its remoteness and resource uncertainty.

May 17, 2011

Africa Oil plans up to 8 east Africa wells

NAIROBI, May 17 (Reuters) – Canadian oil and gas explorer
Africa Oil Corp (AOI.V: Quote, Profile, Research, Stock Buzz) plans to drill up to eight exploratory
wells in blocks it holds interests in across east Africa, a
senior company executive said on Tuesday.

Africa Oil and its partners hold exploration licences in
Kenya, Ethiopia and Somalia’s semi-autonomous Puntland region.

May 17, 2011

Africa Oil says plans to drill up to 8 wells in E.Africa

NAIROBI, May 17 (Reuters) – Canadian oil and gas explorer
Africa Oil Corp (AOI.V: Quote, Profile, Research) plans to drill up to eight exploratory
wells in blocks it holds interests in across east Africa, a
senior company executive said on Tuesday.

Africa Oil and its partners hold exploration licences in
Kenya, Ethiopia and Somalia’s semi-autonomous Puntland region.

Mar 17, 2011

Kenyan consumer confidence slides in Feb-survey

NAIROBI, March 16 (Reuters) – Consumer confidence in Kenya
fell in February on worries about political uncertainty, rising
inflation and a feeling that economic conditions will worsen
over the next six months, a survey showed on Thursday.

Research firm TNS RMS surveyed 1,010 respondents during the
month across east Africa’s biggest economy. Its consumer
confidence index dropped to 118 points from 136 in September,
when optimism about a new constitution was running high.

Mar 9, 2011

Kenyan inflation seen accelerating on oil prices, weak shilling

NAIROBI, March 9 (Reuters) – Kenyan inflation is set to
accelerate in coming months on the back of rising oil and food
prices, putting further pressure on consumers, and is leading to
calls for the central bank to act to shore up the country’s
record low exchange rate.

The surge in prices, and the shilling’s KES= fall to
record lows this week, threaten to dent the country’s growth
prospects.

Mar 7, 2011

Kenya’s 2010 tourism earnings up, sees rosy 2011

NAIROBI, March 7 (Reuters) – Kenya’s tourism earnings hit a
record in 2010, driven by more high-end visitors and the country
forecast it would rake in even more this year by increasing
marketing and taking advantage of unrest in North Africa.

Tourism Minister Najib Balala said the country would need to
spend more on marketing to promote its beaches and game safaris,
but would also need to reduce political infighting, which was
souring Kenya’s image.

Mar 7, 2011

StanChart Kenya FY profit up, politics a worry

NAIROBI, March 7 (Reuters) – Standard Chartered Bank Kenya
(SCBK.NR: Quote, Profile, Research) posted much slower full-year pretax profit growth than
local rivals and warned political uncertainty and high oil
prices posed a challenge to expansion.

The bank, among the top five by assets in east Africa’s
biggest economy, recorded a 14 percent increase in pretax profit
for 2010 and said it would focus on high-end customers by
expanding its Priority Banking service.

Mar 7, 2011

StanChart Kenya FY profit up, politics a worry

NAIROBI, March 7 (Reuters) – Standard Chartered Bank Kenya
(SCBK.NR: Quote, Profile, Research, Stock Buzz) posted much slower full-year pretax profit growth than
local rivals and warned political uncertainty and high oil
prices posed a challenge to expansion.

The bank, among the top five by assets in east Africa’s
biggest economy, recorded a 14 percent increase in pretax profit
for 2010 and said it would focus on high-end customers by
expanding its Priority Banking service.

Feb 28, 2011

Kenya’s Equity Bank to expand after profit surge

NAIROBI, Feb 28 (Reuters) – Kenya’s Equity Bank’s (EQTY.NR: Quote, Profile, Research)
2010 pretax profit surged on higher customer deposits and it
expects more growth this year from mobile phone banking and
regional expansion, its chief executive said on Monday.

Ranked Kenya’s biggest bank by depositors, Equity focuses on
services for the poor in east Africa’s largest economy. It plans
to enter Tanzania by April while stepping up its presence in
Rwanda.

Dec 18, 2010

Kenyans want ICC suspects out of public office: poll

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.