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Business Kenya

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  • NAIROBI, Oct 5- Kenya's stock market edged higher for the third day in a row on Friday, boosted by a jump in shares of Equity Bank. Equity Bank, Kenya's biggest bank by customer numbers, rose 2.2 percent to 23.50 shillings per share, cheered by the appointment of a new chief operating officer and a group finance director on Thursday.

  • *Govt faces 40 bln shilling funding shortfall. NAIROBI, Oct 5- Kenya has approved new taxes targeting oil and mining firms and mobile phone-based money transfer services to help plug a growing funding gap, though the move could potentially scare off foreign investors.

  • Kenya cbank says in repo market for $82.4 mln Friday, 5 Oct 2012 | 4:47 AM ET

    NAIROBI, Oct 5- Kenya's central bank said on Friday it planned to absorb 7 billion shillings in excess liquidity from the money markets through repurchase agreements. The bank has persistently mopped up liquidity most of this year to support the shilling. The local currency has gained 0.3 percent against the dollar in the year-to-date.

  • Kenya shilling flat against dlr, tea to support Friday, 5 Oct 2012 | 4:22 AM ET

    NAIROBI, Oct 5- The Kenyan shilling. AT 0715 GMT, commercial banks posted the shilling at 84.85/ 85.05 per dollar, unchanged from Thursday's close. The only major news will be the Monetary Policy Committee meeting and we might see on the shilling towards the decision, "said Julius Kiriinya, a trader at African Banking Corporation.

  • African Markets - Factors to watch on Oct 5 Friday, 5 Oct 2012 | 1:18 AM ET

    NAIROBI, Oct 5- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. *MAURITIUS- Mauritius releases inflation data for September. *MAURITIUS- Bank of Mauritius auctions 364- day Treasury bills worth a.

  • UPDATE 1-Kenyan shares edge up, Equity Bank jumps Thursday, 4 Oct 2012 | 11:32 AM ET

    NAIROBI, Oct 4- Kenya's stock market inched up on Thursday, driven by a jump in shares of Equity Bank. Equity Bank, Kenya's biggest bank in terms of the number of account holders and one of the most frequently traded shares on the bourse, rose 2.2 percent to finish at 23 shillings per share, after the bank named a new chief operating officer and a group finance director.

  • Kenya's 91-day T-bill yields rise to 8.439 pct Thursday, 4 Oct 2012 | 10:26 AM ET

    NAIROBI, Oct 4- The weighted average yield on benchmark Kenyan 91- day Treasury bills rose to 8.439 percent at an undersubscribed auction on Thursday from 8.093 percent last week, the central bank said. The central bank received 2.5 billion shillings in bids for the 4 billion shillings worth of three-month paper on offer and accepted 2.03 billion shillings.

  • NAIROBI, Oct 4- The Kenyan shilling. At 0730 GMT, the shilling was at 84.85./ 85.05, barely changed from Wednesday's close of 84.85/ 95.. "We are expecting it to firm a bit since we saw interest rates rise yesterday," said Solomon Alubala, head of treasury at Co-operative Bank.

  • Kenya cbank says in repo market to mop up $59 mln Thursday, 4 Oct 2012 | 4:37 AM ET

    NAIROBI, Oct 4- Kenya's central bank said on Thursday it intended to absorb 5 billion shillings in excess liquidity from the money markets through repurchase agreements. The bank has persistently mopped up liquidity most of this year to support the shilling, which is 0.2 percent stronger than the dollar in the year-to-date.

  • Kenya cbank offers 2-yr T-bond for sale in Oct Thursday, 4 Oct 2012 | 4:17 AM ET

    NAIROBI, Oct 4- The Central Bank of Kenya said on Thursday it was offering a two-year Treasury bond worth up to 12 billion shillings for sale this month. The re-opened bond is on sale until Oct.23 and will be auctioned a day later, with its proceeds being used for budgetary support.

  • African Markets - Factors to watch on Oct 4 Thursday, 4 Oct 2012 | 1:03 AM ET

    *NIGERIA- Nigeria's cabinet expected to deliver the government's 2013. *ZAMBIA- Bank of Zambia auctions Treasury bills of various maturities. MAURITIUS- Bank of Mauritius auctions 273- day Treasury bills worth a.

  • Kenya's 182-, 364-day T-bills yields rise at auction Wednesday, 3 Oct 2012 | 10:36 AM ET

    NAIROBI, Oct 3- The weighted average yield on Kenya's 364- day Treasury bills rose to 10.570 percent at an undersubscribed auction on Wednesday from 10.336 percent at the previous auction on August 29, the central bank said.

  • Canada's Simba Energy to drill for oil in Kenya in 2013 Wednesday, 3 Oct 2012 | 9:49 AM ET

    NAIROBI, Oct 3- Pan-African oil& gas explorer Simba Energy is to drill its first well in northeast Kenya in 2013, a company executive said on Wednesday, the latest effort by an energy firm to find oil in the east African nation.

  • Uganda's central bank lowered its key lending rate. The auction will give us a clear direction of the shilling, "said Seif Kiwanuka, head of treasury at Diamond Trust Bank. "We saw some profit taking from banks after the rate cut at below 2,570," said Faisal Bukenya, head of market making at Barclays Bank.

  • Kenya cbank says in repo market for $94 mln Wednesday, 3 Oct 2012 | 4:44 AM ET

    NAIROBI, Oct 3- Kenya's central bank said on Wednesday it intended to absorb 8 billion shillings in excess liquidity in the money markets through repurchase agreements. The bank has persistently mopped up liquidity most of this year to support the shilling, which is 0.3 percent stronger than the dollar in the year-to-date.

  • African Markets - Factors to watch on Oct 3 Wednesday, 3 Oct 2012 | 1:03 AM ET

    *TANZANIA- Bank of Tanzania to auction a 10- year fixed rate Treasury bond. *KENYA- The Nairobi Securities Exchange and FTSE International launch the. *KENYA- Central Bank of Kenya auctions 364- day and 182- day Treasury bills.

  • Kenya: Doctors strike over poor health care Wednesday, 3 Oct 2012 | 12:03 AM ET

    NAIROBI, Kenya-- Doctors in Kenya's public hospitals on Wednesday spent their 17th day on strike to protest the dilapidated state of public health care. Emergency rooms in some of Kenya's public hospitals frequently don't have gloves or medicine, and power outages sometimes force doctors to use the light from their phones to complete a procedure.

  • LONDON, Oct 2- Somalia, hoping to share in East Africa's oil and gas boom, has invited back international oil companies that held exploration licences before civil war broke out two decades ago, an adviser to the government said.

  • UPDATE 1-Tea sales buoy Kenyan shilling, stocks dip Tuesday, 2 Oct 2012 | 11:33 AM ET

    *Nation Media shares the biggest faller. "Tea was the main driving factor," said Chris Muiga, a senior trader at Kenya Commercial Bank. During Tuesday's session, the central bank also offered to mop up 7 billion shillings in excess liquidity and received bids worth 9 billion shillings, accepting bids totalling 8.05 billion shillings.

  • DAR ES SALAAM, Oct 2- Tanzania needs to limit power outages if it wants to maintain buoyant growth this year and next, the International Monetary Fund mission to Tanzania said on Tuesday, urging the government to come up with a viable plan for the sector.