It said the lower rating resulted from the downgrade of the issuer rating of the Kenyan government given earlier this week. KCB Group said its rating had been affected by the sovereign downgrade but added that an upgrade would have a similar effect on the bank. Moody’s said that an erosion of financial metrics and […]
The Kenya shilling fell marginally against the United States dollar on Thursday as it continued with a downward trajectory amid rising demand for the greenback. The shilling traded at an average of 101.25 to the dollar, down from 101.20 in the previous session. The Central Bank of Kenya quoted the currency at 101.23 to the […]
China was the top country that advanced bilateral loans to Kenya in 2017, latest data from the Treasury shows. China gave Kenya Sh520 billion ($5,202.37 million) for the period ending December 2017. The Treasury data shows that China loans to the Kenyan government have been growing since December 2015 when it advanced the government a […]
Equity turnover at the Nairobi Securities Exchange (NSE) declined 51 percent on Thursday in a session dominated by local investors as foreigners kept off. Turnover stood at 3.6 million U.S. dollars on a volume of 11 million shares, down from 7.6 million dollars on 31 million shares on Wednesday. Local investors’ participation stood at 65 […]
Somalia’s port city of Kismayo is on the spot again over suspected illegal exports after a string of photos emerged on the social media showing truckloads of charcoal being loaded onto boats. Since Saturday, Somalia’s online media have been reporting that the port which was liberated by the Kenya Defence Forces in 2012 has now […]
South Sudan peace talks in the Ethiopian capital Addis Ababa show signs of progress after nearly two weeks marked by boycotts and walkouts. On Wednesday, the parties to the Igad-led negotiations agreed on the composition of a transitional government and security arrangements. According to the South Sudan ambassador to Ethiopia, James Morgan, the government has […]
South Sudanese government has rejected a demand by a coalition of opposition forces asking Juba to abandon continuing to be part, as a member-state, of the summits and meetings of the Intergovernmental Authority on Development (IGAD) which mediates the ongoing process to achieve peace in the country. Presidential adviser on security affairs told Sudan Tribune […]
For long, commercial bank lending rates have averaged at 21.37 percent, going as high as 23.13 percent in February 2017 and as low as 18.97 percent recorded in October 2017. The Central Bank Rate (CBR) fell drastically by over 20 percent to 9.5 percent from 12 percent recorded at the start of 2017 in a […]
Kenya has taken a 180-degree turn from a beacon of democratic hope for much of East Africa to being just one of the rest with fears that the region’s economic powerhouse is on the brink of plunging back to the “dark Moi era” or even worse. “Reset your TV sets 30 years back. It’s about […]
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