NAIROBI, June 2 – Kenya will raise its public spending for the 2011/12 fiscal year to 1.155 trillion shillings, the government said on Thursday.
Category: business
S.Africa Q1 GDP beats forecasts, manufacturing shines
JOHANNESBURG, May 31 – South Africa’s economy posted surprisingly strong quarterly growth of 4.8 percent in the first three months of this year due to a surge in manufacturing output, suggesting the recovery is gaining momentum.
Kenyan shilling slides vs dollar, liquidity eyed
NAIROBI, June 2 – Kenya’s shilling slipped against the dollar on Thursday after the country’s central bank bought $4 million, but traders said commercial banks would likely cut long dollar positions, providing upside for the local currency.
Kenya raises rates, bank reserve ratio
NAIROBI, May 31 – Kenya raised its benchmark lending rate by a smaller-than-expected 25 basis points on Tuesday but also raised the amount of deposits banks must hold with the central bank in a bid to tame double-digit inflation.
S.Africa approves Wal-Mart with token conditions
JOHANNESBURG, May 31 – South Africa approved Wal-Mart’s $2.4 billion bid for control of retailer Massmart with minimal conditions on Tuesday, giving the world’s top retailer a big boost in its plan to expand in fast-growing Africa.
African business agenda – 6-9 June
Monday June 6 African Development Bank releases latest African Economic Outlook (0800 GMT) Zimbabwe Electoral Commission due to hold press conference that may shed light on whether elections can and will be held this year, as President Robert Mugabe’s ZANU-PF party wants.
A long way to run for frontier African yields
AFRICA MONEY-A long way to run for frontier African yields By Ed Cropley, African Investment Correspondent JOHANNESBURG, May 26 – Kenyan debt yields have spiked sharply higher across the curve in the past week but they remain way below inflation, suggesting foreigners are going to be staying well clear for the time being.
Kenya, Uganda shillings set to gain
NAIROBI, May 26 – Kenya’s shilling is likely to strengthen next week away from record lows against the dollar, while foreign investor interest in a debt issue in neighbouring Uganda should also help to boost the currency there.
Ghana to issue three-year bond in June
ACCRA, May 26 – The Bank of Ghana will issue a three-year bond worth 300 million cedis on June 2, the central bank said on Thursday.
Kenya shilling slips as c.bank buys euros
NAIROBI, May 27 – The Kenyan shilling weakened against the dollar on Friday after the central bank said it was in the market to buy 4 million euros to build up foreign currency reserves.