NewsEast & Horn Africa

Sun,28Aug2016

East & Horn Africa

Kenya: Lending rate cap hits shares again, sparks growth fears

Photo©Thomas Mukoya/ReutersKenyan bank shares plunged for a second day on Friday after President Uhuru Kenyatta sought to boost the economy by capping lending rates and analysts said his attempt to encourage lending may prove counterproductive.

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Decriminalizing of drugs, the only pathway

Marijuana sits in a bowl from which it is packaged and sold to customers, at The Station, a medical and retail cannabis dispensary, in Boulder, Colo., Thursday, Aug. 11, 2016. Brennan Linsley/AP/SIPADrug trafficking and the black market are, to a large extent, a direct consequence of the international drug control system and the national laws that are derived therefrom.

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Banking: Kenyan president approves law capping commercial bank lending rates

Kenya's President Uhuru Kenyatta. Photo©Noor Khamis/ReutersKenya's President Uhuru Kenyatta signed into law on Wednesday a bill capping commercial bank lending rates, saying banks had in the past failed to live up to pledges to lower their rates when parliament tried to introduce caps.

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Investors dump shares of Nigerian banks after foreign exchange trade suspension

Photo©Victor R. Caivano/AP/SIPAInvestors sold shares in Nigerian banks on Wednesday, a day after the central bank suspended nine lenders from foreign exchange transactions for failing to remit money owed to the government.

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Oil & Gas: Kenya finalises agreement for development of crude oil pipeline

Photo©Sue Ogrocki/AP/SIPAKenya has finalised an agreement with oil explorer Tullow Oil and its partners Africa Oil and A.P. Moller-Maersk for the development of a crude oil pipeline, as it bids to become an oil exporter, the president's office said.

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Riek Machar, South Sudan opposition leader in Khartoum for medical treatment

South Sudan opposition leader Riek Machar. Photo©Mulugeta Ayene/AP/SIPASouth Sudan opposition leader, Riek Machar, is in Khartoum for medical treatment, Sudan's Information Minister Ahmed Bilal Osman told the state news agency SUNA on Tuesday.

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