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Business Kenya

  • NAIROBI, Oct 11- The Kenyan shilling fell marginally against the dollar on Thursday as it came under further pressure from importers in the telecoms and energy sectors buying the U.S. currency, traders said. was trading at 85.15/ 25 to the dollar at 0739 GMT, a touch weaker than Wednesday's close of 85.05/ 25..

  • NAIROBI, Oct 11- Kenya's central bank sought on Thursday to mop up 1.5 billion shillings in excess liquidity via repurchase agreements. The bank has persistently mopped up liquidity throughout much this year to support the shilling, which is 0.1 percent stronger than the dollar in the year-to-date.

  • NAIROBI, Oct 11- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. KENYA- Central Bank of Kenya to auction 91- day Treasury bills. MAURITIUS- Bank of Mauritius to auction 182- day Treasury bills worth a.

  • NAIROBI, Kenya-- Kenya's president vetoed a move by the country's parliament to award legislators bonuses of up to $110,000 at the end of their term next year. Kenya's 222 legislators currently make about $120,000 a year each. The minimum wage in Nairobi, the capital, is about $1,500 a year.

  • NAIROBI, Oct 10- The weighted average yield on Kenya's 182- day Treasury bill rose to 10.307 percent at the auction on Wednesday from 10.194 percent last week, the central bank said. The bank said it received bids worth 3.5 billion shillings for the 4 billion shillings it had offered, and accepted bids worth 3.34 billion shillings.

  • KIGALI, Oct 10- Rwanda's year-on-year urban inflation rate fell to 5.63 percent in September from 5.81 percent a month earlier on easing food and energy prices, the statistics office said on Wednesday.

  • NAIROBI, Oct 10- Kenyan lender NIC Bank has raised 2 billion shillings from an over-subscribed rights issue that will fund expansion and a new banking platform. The funds will be used to buy a new banking technology platform as well as set up new branches in Kenya and in neighbouring Tanzania and Uganda where it has operations.

  • NAIROBI, Oct 10- Kenya's central bank said on Wednesday it was in the repurchase agreements market to mop up 6.5 billion shillings in excess liquidity.

  • NAIROBI, Oct 10- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. NIGERIA- President Goodluck Jonathan is expected to deliver the 2013. KENYA- Central Bank of Kenya auctions 182- day Treasury bills.

  • *Lawmakers award themselves $110,000 end-of-term bonus. NAIROBI, Oct 9- Kenyan President Mwai Kibaki on Tuesday blocked $110,000 end-of-term bonuses members of parliament awarded themselves after protests and a public outcry at a time when the state has raised taxes to plug a hole in its finances.

  • 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.