Africa has the lowest internet penetration rate globally, but some of the world’s tech giants think they may have touched a magic formula for the rollout of broadband on the continent.
The ‘white spaces’ technology being deployed by Microsoft could bring “almost 80 per cent of Kenya’s population online over the next three years,” according to Fernando de Sousa, who heads up the company’s 4Afrika initiative.
Bearing in mind that Kenya’s population has grown to just over 40m, that’s a fairly substantial number. Continue reading »
When it comes to interest rates, Kenya is hard to predict. Having cut interest rates from 18 per cent in mid-2012 in great chunks of 150, 200 and 350 basis points to 9.5 per cent, Tuesday’s central bank rate decision was something of a guessing game.
In the end, the bank cut by another 100bp to 8.5 per cent, having held at its previous meeting in March. Around half the analysts polled in advance by Reuters and Bloomberg had predicted a hold in rates. At least no-one was predicting a rise. Continue reading »
Less than two years after independence, South Sudan is attracting the attention of insurance companies in east Africa. And it’s not the region’s only new frontier. CIC Insurance Group of Kenya is ready to expand in the country and into neighbouring Uganda.
Next year, CIC has its sights on Tanzania and Malawi, Joel Gatune, the insurer’s finance and investments manager, tells beyondbrics. “For us, we believe sustained growth is in micro-insurance,” he says. “We’ve come up with a micro-insurance blueprint.” Continue reading »
Diplomatic relations between Kenya and the west took a pummelling over the course of the country’s presidential election, which saw Uhuru Kenyatta (left) – currently indicted by the International Criminal Court for inciting ethnic violence after the 2007 vote – edge his way to a first round win.
But with results in, will the diplomatic fallout be as bad as the rhetoric suggests? The answer is: probably not. Continue reading »
Kenya has led Africa’s innovative and revolutionary embrace of mobile telephones, and the country’s technology sector has grown faster than all others in east Africa’s regional economic hub. Bob Collymore, chief executive of Safaricom, parent company of the mobile payment system M-Pesa, talks to Katrina Manson, east Africa correspondent.
Uhuru Kenyatta has been declared the winner in Kenya’s tense presidential elections, but Raila Odinga, the prime minister is refusing to accept the results, reportKatrina Manson and William Wallis. The final tally put Mr Kenyatta 0.07 per cent above the threshold needed to prevent a run-off.
Diplomats and party officials waited for hours at the Independent Electoral and Boundaries Commission for a final declaration amid doubts over the final figures which even for much of the morning on the commission’s screens did not quite add up. Continue reading »
The race for Kenya’s presidency is heading to a nail-biting finish as the front-runner’s lead fades away and the votes counted show the decision going to a run-off for the first time since counting began four days ago.
With around 80 per cent of the constituencies declared, the early lead held by deputy prime minister Uhuru Kenyatta has fallen away, slipping just below the 50 per cent mark needed to secure an outright win. His rival, prime minister Raila Odinga, is trailing with 44 per cent of the vote but results trickling in from Odinga strongholds are closing the gap. With 20 per cent of ballot papers left to count, the outcome could go either way. Continue reading »
A failure of electronic vote counting systems has delayed the announcement of preliminary results for the Kenyan presidential elections and caused a sharp drop in the value of the shilling.
The Kenyan currency had strengthened over the past week and remained steady during the election. But in the face of uncertainty over the outcome of the vote on Wednesday it fell 1.5 per cent against the US dollar, reaching 86.75 by the end of the day. Continue reading »
Partial results in the Kenyan presidential election show Uhuru Kenyatta ahead with 53 per cent of the vote as of 22h00 in Kenya (19h00 GMT), with rival Raila Odinga on 42 per cent.
However, with many votes still to be counted and a final result from the electoral commission not due until Wednesday, the balance could still tip, and Odinga issued a message to supporters that many of his major strongholds had yet to be counted. Continue reading »
With polling stations for the Kenyan presidential and parliamentary elections kept open beyond the official closing time to accommodate queuing voters, reports suggest the day has passed off peacefully in the main, with no sign of a repeat of the widespread conflicts which led to over 1,000 deaths in the wake of the 2007 election.
Nineteen people are reported to have died in clashes between secessionists and police in the coastal city of Mombasa and nearby towns. But the violence appears to have been limited to isolated flash-points. Continue reading »