Business Kenya

  • NAIROBI, Oct 9- Kenyans spent more time surfing the Internet on their cell phones in the second quarter of this year from a year ago in east Africa's biggest economy, the regulator said on Tuesday. Kenya's top telecoms operator Safaricom, which commands a 70 percent market share, plans to expand its fibre-optic cable and support a rising customer base.

  • NAIROBI, Oct 9- More than a hundred Kenyans marched through Nairobi on Tuesday to protest against the huge end-of-term bonuses that legislators have awarded themselves at a time when the state is short of funds and considering tax rises.

  • NAIROBI, Oct 9- Emerging markets private equity firm Actis has raised $278 million for investment in African real estate to ride a housing boom fuelled by a growing middle class.

  • Oct 09- In a new report, Fitch Ratings says that the high credit growth in sub-Saharan Africa rated countries primarily reflects the expansion of the financial sector from a low starting point in a context of rapid economic development. This mitigates financial and macroeconomic risks that are often associated with high credit expansion.

  • NAIROBI, Oct 9- The Kenyan shilling. But we expect inflows from the tea sector later today and tomorrow to help the shilling, "said Dickson Magecha, a trader at Standard Chartered Bank. The average price of top grade tea firmed for the third week in a row to $4.20 per kg at auction last week, up from $4.15 per kg previously.

  • NAIROBI, Oct 9- Kenya's central bank sought on Tuesday to mop up 8.5 billion shillings in excess liquidity using repurchase agreements, the bank said.

  • NAIROBI, Oct 9- 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 is due to auction 14- day Treasury bills. *South Africa's local government workers' union said on Monday it would.

  • Investors Should Look to Frontier Africa

    Larry Seruma, Managing Principal, Nile Capital Management says frontier African countries like Nigeria & Kenya are performing well due to strong foreign and domestic investment.

  • *Barclays Bank drag down main stocks index. NAIROBI, Oct 8- Dollar demand from banks and importers pushed the Kenyan shilling. We've also seen some importers buying too, "said Peter Mutuku, a trader at Bank of Africa.

  • LAGOS, Nigeria-- The United Kingdom's business secretary said Monday that a bill to overhaul Nigeria's oil industry should be focused on what helps the West African nation, rather than what benefits the foreign oil companies working there.

  • NAIROBI, Oct 8- Kenya's central bank said that its official usable foreign exchange reserves. to $5.159 billion in the week to Friday from $5.163 billion the previous week. Here are highlights from its latest weekly bulletin:.

  • NAIROBI, Oct 8- Kenya's central bank said on Monday it was in the repurchase agreements market to mop up 7 billion shillings in excess liquidity. The central bank has been actively soaking up liquidity using repos most of this year, stabilising the shilling after a dramatic slide last year that caused the central bank to adopt a tight monetary policy stance.

  • NAIROBI, Oct 8- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. *The rules of the game in South Africa's labour market have changed and. wildcat strikers at mining giant Anglo American Platinum.

  • MOGADISHU, Somalia-- Somalia's president has appointed a new prime minister, a businessman who worked as a government economist in the 1980 s. Abdi Farah Shirdon was named prime minister on Saturday. Shirdon studied economics at Somalia National University in the 1970 s.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.