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/ 22 January 2009
While serious, Africa’s current economic situation is not as dire as it once might have been.
Foreign investors buying Kenya’s Safaricom stock will pay a 0,5 shilling premium per share over the five Kenya shillings that domestic investors will be paying, the government announced on Wednesday. The offering generated over ,25-billion in bids from established institutional investors, Kenya’s privatisation commission said.
Trade in Kenya’s foreign exchange and stock markets was slow and volumes thin on Friday, as fears of more post-election violence kept many dealers at home. ”There’s not much activity. Most players are out,” said Bank of Africa forex dealer Robert Gatobu. ”It’s a wait-and-see attitude with players waiting for the political climate to calm down.”
The Attorney General on Thursday called for an independent probe into Kenya’s election after a day of battles in Nairobi between police and demonstrators disputing the re-election of President Mwai Kibaki. The opposition called off a rally in a central park, saying it wanted to save lives, after a day of fighting during which police fired live rounds in the air.
Kenyan police fired tear gas and water cannon on Thursday at thousands of anti-government protesters chanting ”Peace” and singing the national anthem as they tried to march to a banned rally. Nairobi became a battleground as shots rang around, crowds ran to-and-fro, riot police thronged the streets and plumes of smoke rose.
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/ 20 December 2007
A Kenyan Court of Appeal dismissed a suit seeking to stop the flotation of the country’s leading mobile operator Safaricom on Thursday, clearing the way for the government to go ahead with the offer. Three opposition legislators had sought to block the country’s biggest initial public offering, saying it had not been done transparently.