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Sep 27, 2011

Kenyan Nobel winner Maathai, savior of trees, dies

NAIROBI (Reuters) – Wangari Maathai, the first African woman to win the Nobel Peace Prize for her campaigns to save Kenyan forests, died in hospital on Sunday after a long struggle with ovarian cancer.

Maathai, 71, founded the Green Belt Movement in 1977 to plant trees to prevent environmental and social conditions deteriorating and hurting poor people, especially women, living in rural Kenya.

Sep 26, 2011

Kenya Nobel laureate Maathai dies in hospital: group

NAIROBI (Reuters) – Kenyan Nobel Peace Prize winner and environmentalist Wangari Maathai has died in hospital where she was undergoing treatment for cancer, her organization the Green Belt Movement said on Monday.

Maathai, who won the 2004 Nobel Prize, was the founder of Green Belt Movement, a civil and women rights activist and also served as a Member of Parliament.

Sep 7, 2011

Kosmos to list in Ghana by end of year-regulator

NAIROBI, Sept 7 (Reuters) – Kosmos Energy , which
plans to list in Ghana to raise some $50 million for development
in the West African country, is on track to join the bourse by
the end of the year, Ghana’s capital markets regulator said on
Wednesday.

Kosmos, backed by private equity firms Blackstone Group
and Warburg Pincus , has a 23.49 percent stake in
the Jubilee offshore oilfield, operated by Tullow Oil
and holding as much as 2 billion barrels of light crude.

Sep 5, 2011

Kenya interbank rates fall, stocks down

NAIROBI, Sept 5 (Reuters) – The Kenyan shilling eased
against the dollar on Monday on the back of increased investor
risk aversion to emerging market assets, while interbank rates
continued to fall.

Central bank data published on Monday showed weighted
average interbank rates fell by half last week to 14.1 percent
on Friday after the bank changed the formula it uses to
calculate its discount window rate to see off a severe liquidity
crunch.

Aug 26, 2011

Kenya’s Mumias Sugar FY pretax rises 21 pct

NAIROBI, Aug 26 (Reuters) – Kenya’s biggest sugar producer,
Mumias Sugar , posted a 21-percent rise in full-year
pretax profit on Friday to 2.65 billion shillings ($28.6
million) and said plans to diversify further from sugar
production would lift growth.

The miller said earnings per share rose to 1.26 shillings
from 1.03 shillings previously. It proposed a dividend of 0.50
shillings per share for the full year, up from 0.40 shillings.

Jul 28, 2011

KCB H1 pretax up, liquidity a concern

NAIROBI, July 28 (Reuters) – Kenya Commercial Bank
said a boom in business loans and mortgages lifted first-half
profit by more than a third and pledged to relieve pressure on a
liquidity ratio close to the legal minimum.

KCB, Kenya’s largest bank by assets, said pretax profit for
the six months to June rose to 5.74 billion shillings ($63.18
million) compared with the same period last year after its net
interest income rose by a fifth to 10.53 billion shillings.

Jul 28, 2011

Hold-UPDATE 2-KCB H1 pretax up, liquidity a concern

NAIROBI, July 28 (Reuters) – Kenya Commercial Bank
said a boom in business loans and mortgages lifted first-half
profit by more than a third and pledged to relieve pressure on a
liquidity ratio close to the legal minimum.

KCB, Kenya’s largest bank by assets, said pretax profit for
the six months to June rose to 5.74 billion shillings ($63.18
million) compared with the same period last year after its net
interest income rose by a fifth to 10.53 billion shillings.

Jul 26, 2011

Number of Kenyans in need of food aid to jump: U.N.

By George Obulutsa and Katy Migiro

(Reuters) – The number of Kenyans who will need food aid due to drought will rise to 3.5 million by September, the United Nations said Tuesday, while European officials warned such crises would flare up again unless more money was directed at prevention efforts.

Some 11.6 million people are going hungry in the “triangle of death” that straddles Kenya, Somalia and Ethiopia, with pockets of famine existing in rebel-controlled southern Somalia, adding pressure on donors to respond to the hunger crisis.

Jun 28, 2011

U.N. court refers genocide case to Rwanda

NAIROBI (Reuters) – A U.N. Court trying the masterminds of Rwanda’s 1994 genocide said on Tuesday it had for the first time referred one of its cases to be tried in Rwanda itself.

Rwanda has in the past unsuccessfully sought to have the court hand it some of the cases. In 2007, Rwanda’s parliament scrapped the death penalty for genocide suspects who are either being held in Tanzania or at large elsewhere abroad and has introduced legal reforms required by the court.

Jun 27, 2011

Kenya approves bourse listing of investment firms

NAIROBI, June 27 (Reuters) – Kenya’s capital markets
regulator said it had approved the listing of investment firm
British American Kenya, paving the way for an initial public
offering (IPO) of 650 million shares.

The Capital Markets Authority (CMA) said it had also
approved fellow investment firm TransCentury to list on the
Nairobi Stock Exchange (NSE).