Christian Whiton, principal at DC International Advisory, discusses U.S. President Barack Obama's historic visit to Kenya.» Read More
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.
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.
*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.
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.
*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.
NAIROBI, Oct 2- Kenya's central bank sought to absorb 7 billion shillings in excess liquidity through repurchase agreements, it said on Tuesday. The bank has persistently mopped up liquidity most of this year to support the shilling, which is 0.1 percent stronger than the dollar in the year-to-date.
NAIROBI, Oct 2- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. *UGANDA- Bank of Uganda releases its decision on the benchmark lending rate. *BOTSWANA- Bank of Botswana to auction its 14- day certificate Treasury bill.
NAIROBI, Oct 2- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. *BOTSWANA- Bank of Botswana to auction its 14- day certificate Treasury bill. Brent crude futures steadied near $112 a barrel on Tuesday as investors.
NAIROBI, Oct 1- The United States on Monday called on Rwanda to publicly denounce rebels who have seized swathes of eastern Congo in an appeal that highlighted its frustration over Kigali's alleged role in its neighbour's conflict.
This is the face of new, high-end hotels in Africa. International hotel developers are planning nearly 40,000 new rooms across Africa in the coming years. Travel and tourism in Africa generates about $164 billion a year, 9 percent of the continent's total GDP, said David Scowsill, president and chief executive of World Travel& Tourism Council.
NAIROBI, Oct 1- Kenya wants licensed oil and gas explorers to speed up their work to meet the terms of their contracts, and may invoke its right to cash in their guarantees if they fail to do so, a senior Ministry of Energy official said.
NAIROBI, Oct 1- Kenya's central bank said that its official usable foreign exchange reserves. fell to $5.163 billion in the week to Friday from $5.190 billion the previous week. Here are highlights from its latest weekly bulletin:.
NAIROBI, Oct 1- The Kenyan shilling. So more liquidity in the market, more spending, more importing, more pressure on the shilling, "said Peter Mutuku, a trader at Bank of Africa. GDP figures show that the economy is slowing down, so you will probably see the MPC trying to give some impetus to the economy, "said Chris Muiga, a trader at Kenya Commercial Bank.
NAIROBI, Oct 1- Kenya's central bank sought to absorb 12 billion shillings in excess liquidity through repurchase agreements, it said on Monday.
*If successful, would be Tullow's second oil discovery in Kenya. NAIROBI, Oct 1- British explorer Tullow Oil Plc and its Canadian partner Africa Oil Corp started drilling a third well in Kenya, extending a campaign to discover more reserves after finding oil in the east African country earlier this year.
*NAIROBI- Industry regulator Tea Board of Kenya releases performance report. global growth, with data from Japan to China underscoring sluggish business. weakness in China and Japan as well as persistent worries about the.
NAIROBI, Oct 1- Egypt's Citadel Capital could be an investor in Uganda's proposed $2.5 billion oil refinery project, the Egyptian private equity firm's managing director said.