NewsEast & Horn Africa

Sun,25Sep2016

East & Horn Africa

Kenya's cap on rates may hit commercial bank lending, central bank governor says

Kenya Central Bank Governor Patrick Njoroge in his office. Photo: Thomas Mukoya/ReutersKenya's commercial banks may stop extending loans to borrowers deemed higher risk after the government capped commercial lending rates and the central bank cut the benchmark interest rate, the central bank governor said Wednesday.

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Kenya's TransCentury tries to steady the ship

Kenyan industry secretary Julius Korir visits East Africa Cables' refurbished Nairobi copper production plant. Photo: Jennipher WachieBuffeted by the high cost of borrowing and some strategic missteps, Kenyan infrastructure company and cable manufacturer TransCentury is in the midst of a crisis.

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South Sudan rebel leader should not return, US says

South Sudan's rebel leader Riek Machar. Photo: Mulugeta Ayene/AP/SIPASouth Sudan opposition leader Riek Machar should not return to Juba and resume his post as vice-president of the country, the US special envoy to the country has said.

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More than just pipe dreams: Mozambique’s gas may power its expansion

A pipeline runs through the Pande-Temane gas field in Mozambique. Photo: Graham KietzmannIt is tempting to see the oil price crash as denting hopes for economic growth, especially for energy exporters. But for gas producers, there may be a silver lining, with lower prices creating an opportunity to use natural gas for power generation and other projects. The future of Southern Africa’s gas market, for example, could lie along a 2,600km pipeline linking the gas fields of Mozambique to South Africa’s Gauteng Province. The African Renaissance Gas Pipeline (ARGP) is the biggest planned gas project on the continent and is set to link Mozambique’s 180 trillion cubic feet (tcf) of re­ serves with consumers at home and in South Africa.

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Kenya steps closer to new container terminal at Mombasa port

Norwegian flagged Hoegh Autoliners cargo ship at the port of Mombasa, in Kenya. Photo: AP/SIPAKenya on Saturday inaugurated the first part of a new container terminal at Mombasa which is expected to boost by 50% the volume of cargo handled by East Africa's largest seaport.

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Facebook chief courts Africa's politicians, entrepreneurs and developers in first trip

Mark Zuckerberg, Facebook's chief executive officer, poses with Kenyan tech entrepreneurs in Nairobi's iHub. Photo: FacebookFacebook's chief executive officer Mark Zuckerberg is wrapping up his first trip to sub-Saharan Africa.

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