South Sudan awards gold, uranium mining contracts

(Reuters) - South Sudan has awarded two companies exploration licenses for gold and uranium in areas thought to be rich in minerals, an official from the semi-autonomous region said.

British/South African New Kush Exploration and Mining Company and the UK-listed Brinkley Mining Plc paid $5,000 for one-year exploration licenses in the area bordering Kenya.


Read more at Reuters Africa

Kenya economy seen growing 6.3pct in 2007 - government official

(Reuters) - Kenya's economy is seen growing 6.3 percent in 2007, up from 6.1 percent last year, according to first quarter statistics to be published soon, a senior government official said on Wednesday.

The government is keen to capitalise on improved economic performance as it seeks re-election at polls in December, reinforced by a central bank projection of 8 percent growth by 2008.


Read more at Reuters Africa

Kenya shilling flat vs dollar in quiet trade

(Reuters) - The Kenya shilling was unchanged against the dollar on Thursday and dealers said it would remain at the same levels until the end of the month.

At 1013 GMT, commercial banks quoted the local currency at 67.05/67.15 to the greenback unchanged from Wednesday's close.


Read more at Reuters Africa

Kenya says 06/07 tax revenues up by 20 pct

(Reuters) - Kenya's tax revenue in the 2006/07 fiscal year rose by 20 percent to 360.2 billion shillings, compared with the amount collected a year before, Kenya Revenue Authority (KRA) said on Wednesday.

The government had planned to collect 356.1 billion shillings in 2006/07.


Read more at Reuters Africa

Kenya tea production up 21 pct in May to 32 mln kg

(Reuters) - Kenya's tea output rose by 21 percent in May to 32 million kg compared with 26 million kg produced during the same period last year, due to improved weather, the Tea Board of Kenya said on Friday.

Production in April was 30.6 million kg.


Read more at Reuters Africa

Kenya to sell $150 mln eurobond in '08 fiscal year

(Reuters) - Kenya plans to issue a $150 million Eurobond in the 2008 fiscal year and expects to sell half its stake in mobile phone operator Safaricom by the end of calendar year 2007, a senior Treasury official said on Tuesday.

Joseph Kinyua, permanent secretary to the Treasury responsible for economic and financial policy, told Reuters: "We plan to sell a $150 million Eurobond in the course of fiscal year 2008."


Read more at Reuters Africa

China's Investment in Africa to Boost Shilling, Cedi, Standard Bank Says

(Bloomberg) -- Kenya's shilling and Ghana's cedi
will rise as China increases spending on oil fields, roads and
telephone networks in Africa to secure raw material supplies,
Standard Bank Group Ltd. said.

The shilling may appreciate 3 percent against the dollar by
year-end, said Francis Beddington, the London-based head of
Eastern Europe, Middle East and Africa research at Standard
Bank, Africa's largest by assets. He attended the Tunis-based
African Development Bank's annual meeting, held in China for the
first time last month to help attract funds to the continent.


Read more at Bloomberg Currencies News

Kenya Airways 2006/07 profit falls 15 pct

(Reuters) - Net profits at Kenya Airways fell 14.6 percent to 4.1 billion shillings last year because of high fuel prices and a strong local currency, the company said on Wednesday.

The airline, which lost a Boeing 737-800 in Cameroon in early May, when it crashed into a swamp and killed 114 people on board, said revenues rose 11.3 percent to 58.8 billion shillings in the year ended March 31 from 52.8 billion in the previous year.


Read more at Reuters Africa