Plan by Kenya to buy back $1.4 billion of international bond eases investor jitters it might default
The pressure on the Kenyan government’s finances has forced it to try to squeeze every shilling it can from taxpayers, angering voters who had supported the current government on the premise it would lower the cost of living.
Central Bank of Kenya buys dollars to slow down strengthening of the shilling against hard currencies
The government also sold a 70 billion shilling infrastructure bond, receiving over 288 billion shillings of bids, a 412 per cent subscription rate, with strong offshore investor participation. The Kenyan shilling extended gains on Wednesday, hitting its strongest in more than three months as confidence the government would pay off a Eurobond maturing in June buoyed investor appetite.
Rhinos are returned to a plateau in central Kenya, decades after poachers wiped them out
The successful move of 21 eastern black rhinos to a new home will give them space to breed and could help increase the population of the critically endangered animals. It was Kenya’s biggest rhino relocation ever.
Long orphaned, sorghum farming makes grand return to western Kenya as indigenous crops reclaim niche
Sorghum is Africa’s second most important cereal because it is the primary source of daily calories for approximately 300 million people. However, the crop had vanished from Kenyan farms as a result of large-scale maize farming in areas that traditionally grew sorghum and its ‘sister’ crop, millet.
Commecial fish farming becomes key investment area as blue economy takes root in rural Kenya
County industrialisation and trade executive Kassim Were says successful implementation of the programme that targets 7,000 fish ponds that will supply five tonnes of fish per day will further diversify the local economy that hitherto depends on sugarcane, maize and dairy farming. However, continued subdivision of agricultural land into smallholdings has rendered available land for farming uneconomical for commercial production of the two crops and livestock keeping, hence the steep decline in output.
Massachusetts murder suspect Kevin Kangethe rearrested in Kenya after a week on the run
Kangethe was arrested in Embulbul, Kajiado County on the outskirts of Kenya’s capital city on Tuesday evening as he sought refuge at one of his relatives’ homes, Nairobi police boss Adamson Bungei said.
Dire straits: Kenya’s double-digit debt costs sign of the tough times, Nigeria and South Africa hit too
Six of the 15 countries that issued bonds with coupons at or above 9.5 per cent after 2008 have since defaulted, analysts at Morgan Stanley have pointed out – Venezuela, Lebanon, Mozambique, Suriname, Ukraine, Ghana and Ecuador.
Unhappy Kenya media giants preparing to take government to court over advertising revenue
The Daily Nation, the Standard, and Mediamax’s People Daily, which had previously co-distributed MyGov, all bid for the new contract, quoting prices between two to three times higher, according to a government source.
Human-wildlife conflict in focus as hyena kills one, injures two people outside university in Kenya
Hyena attacks have become increasingly frequent on the outskirts of Nairobi, prompting KWS to release guidelines on how to react when confronted by the animals. “If faced with a hyena, do not move away until it does and continue facing its direction. Be loud, look aggressive and appear frightening to deter the hyena,” the KWS advises.
Why Kenyan President Ruto’s copy-and-paste Singaporean low-cost housing model faces resistance from taxpayers, courts
The history of affordable housing in Singapore is – too – replete with instances of colonial government involvement. However, the policies were modified to align with the programme with rapid economic growth that resulted in a rapidly rising housing demand powered by booming economy and sharp rise in labour-force from foreign countries.
