<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-820x547.jpg" alt="" class="wp-image-510212" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A worker at a foreign exchange currency bureau counts 1000 Ugandan shilling banknotes in Kampala, Uganda, on Wednesday, Aug. 16, 2023. Uganda&#8217;s central bank said it stands ready to act if the World Bank&#8217;s decision to halt new funding over the country&#8217;s passage of anti-LGBTQ legislation impacts the currency further. Photographer: Luke Dray/Bloomberg via Getty Images</figcaption></figure>



KAMPALA, Sept 10 (Reuters) &#8211; The Ugandan shilling was a notch firmer on Tuesday, with appetite for hard currency muted across both commercial banks and merchandise importers, traders said.



At 0930 GMT commercial banks quoted the shilling at 3,710/3,720, compared to Monday&#8217;s close of 3,714/3,724.



(Reporting by Elias Biryabarema; Editing by Hereward Holland)

Ugandan Economy Following Rate Cut

Ugandan shilling trades slightly firmer on muted demand

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="425" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24.jpg" alt="" class="wp-image-498541" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24.jpg 720w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24-300x177.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24-152x90.jpg 152w" sizes="auto, (max-width: 720px) 100vw, 720px" /><figcaption class="wp-element-caption">Kenya shilling coins and notes are pictured inside a cashier&#8217;s booth at a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Sept 10 (Reuters) &#8211; The Kenyan shilling was broadly steady against the U.S. dollar on Tuesday, with the supply of foreign exchange matched by demand from all sectors in a muted session, traders said.



As of 0849 GMT, data from London Stock Exchange Group (LSEG) indicated the shilling trading at 128.30/129.30 to the dollar, slightly different from Monday&#8217;s close of 128.25/129.25.



&#8220;There&#8217;s not much activity happening. There&#8217;s just enough demand for the supply,&#8221; a trader at a commercial bank said.



The shilling has been relatively stable for several months, after a strong rally in the first half of 2024 as concerns eased that the East African country would default on a $2 billion Eurobond that matured in June.



(Reporting by Hereward Holland; Editing by Bate Felix)

ANCK25OQIFMHTJYACOM5XU5T24

Kenyan shilling broadly steady in balanced market

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="528" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AXA5KIAGZVICZP4VWXIIUYZFF4-820x528.jpg" alt="" class="wp-image-528940" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AXA5KIAGZVICZP4VWXIIUYZFF4-820x528.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AXA5KIAGZVICZP4VWXIIUYZFF4-300x193.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AXA5KIAGZVICZP4VWXIIUYZFF4-140x90.jpg 140w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AXA5KIAGZVICZP4VWXIIUYZFF4-768x494.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AXA5KIAGZVICZP4VWXIIUYZFF4-1536x989.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AXA5KIAGZVICZP4VWXIIUYZFF4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A Kenya Airports Authority worker inspects planes during an auction after previous owners abandoned them at the Jomo Kenyatta International Airport in Nairobi, Kenya, November 17, 2021. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Sept 10 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s high court has temporarily blocked a proposed deal for India&#8217;s Adani Group to lease the country&#8217;s main airport for 30 years in exchange for expanding it, court documents showed.



In a joint application, the Law Society of Kenya (LSK), the country&#8217;s main bar association, and the Kenya Human Rights Commission (KHRC) told the court on Monday that the country could independently raise the $1.85 billion required to upgrade the airport in the capital Nairobi.



LSK and KHRC said the alleged 30-year lease of Jomo Kenyatta International Airport (JKIA), East Africa&#8217;s largest aviation hub, was unaffordable, threatened job losses, was a fiscal risk and did not offer taxpayers value for money, court documents published by the KHRC on their website showed.



The high court granted the request for leave to file a judicial review to challenge the possible lease of JKIA to Adani, LSK President Faith Odhiambo wrote on the social media platform X late on Monday.



&#8220;The court has meanwhile issued a stay prohibiting any person from implementing or acting on the privately initiated Adani proposal over JKIA pending the conclusion of the court case,&#8221; Odhiambo said.



The Adani Group did not immediately respond to a Reuters request for comment.&nbsp;A spokesperson for the Kenya Airports Authority told Reuters: &#8220;We are not going to comment on matters in court.&#8221;



Last month, the Kenya Aviation Workers Union called for a strike over the proposed deal, saying that it would lead to job losses and bring in non-Kenyan workers.



Kenya&#8217;s government has said the airport is operating above capacity and needs modernising but that it is not for sale and that no decision has been made on whether to proceed with what it calls a proposed public-private partnership to upgrade the&nbsp;site.



It said in July that Adani&#8217;s offer was being reviewed. If a deal is agreed, the government said there would be safeguards to ensure Kenya&#8217;s national interests are protected.



(Reporting by Maria Ponnezhath in Bengaluru; Editing by Sherry Jacob-Phillips, Mrigank Dhaniwala, Michael Perry and Jason Neely)

A Kenya Airports Authority worker inspects planes during an auction after previous owners abandoned them at the Jomo Kenyatta International Airport in Nairobi

Kenyan court halts proposed Adani lease of country’s main airport

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="521" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-820x521.jpg" alt="" class="wp-image-516586" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-820x521.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-300x191.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-142x90.jpg 142w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-768x488.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-1536x976.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller handles U.S. dollar banknotes and Kenya shilling banknotes inside the cashier&#8217;s booth at a forex exchange bureau in downtown Nairobi, Kenya, February 16, 2024. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Sept 9 (Reuters) &#8211; Kenya&#8217;s shilling was unchanged against the dollar on Monday, although it was seen under pressure from renewed hard currency demand by manufacturers and fuel importers, traders said.



Commercial banks quoted the shilling at 128.25/129.25 per dollar at 0936 GMT, compared with Friday&#8217;s closing rate.



(Reporting by Hereward Holland; Editing by Bate Felix)

RLVCCF47LVIWPJR4O2PPITYMVI

Kenyan shilling unchanged versus dollar

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-820x547.jpg" alt="" class="wp-image-422955" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Uganda shillings. Uganda. (Photo by: Godong/Universal Images Group via Getty Images)</figcaption></figure>



KAMPALA, Sept 9 (Reuters) &#8211; The Ugandan shilling traded in the same position on Monday from the previous session as hard currency inflows from remittance provided some support, traders said.



At 0830 GMT commercial banks quoted the shilling at 3,710/3,720, compared to Friday&#8217;s close.



(Reporting by Elias Biryabarema; Editing by Hereward Holland)

GettyImages-924883576-1

Ugandan shilling flat as remittance inflows lend support

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1815421853-820x547.jpg" alt="" class="wp-image-510612" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1815421853-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1815421853-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1815421853-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1815421853-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1815421853-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1815421853-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">President of Kenya William Ruto during the United Nations Climate Change Conference COP28 High Level Segment meeting in Dubai, United Arab Emirates on December 1, 2023. (Photo by Jakub Porzycki/NurPhoto via Getty Images)</figcaption></figure>



NAIROBI, Sept 9 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s finance ministry will seek suggestions from the public on new legislation to boost revenue and tackle other challenges, Finance Minister John Mbadi said on Monday, after protesters forced the government to withdraw its financing law.



President William Ruto discarded tax hikes worth more than 346 billion shillings ($2.7 bln) in June after protests that killed more than 50 people.



The move left the heavily indebted government with a bigger budget deficit for this financial year, mounting pending bills, and a delay in funding from the International Monetary Fund.



&#8220;We are barely managing. This is not where we wanted to be, but we are here,&#8221; Mbadi told a budget preparation meeting. He was appointed from the opposition last month as Ruto sought to stabilise his government.



The minister initially said he would revive some tax hikes in the abandoned finance bill, before rowing back after a public outcry and threat of more protests.



&#8220;I will be issuing a circular tomorrow, inviting the public&#8217;s participation to submit proposals on some legislative reforms to improve our current economic situation,&#8221; he said.



Kenyans will have until Sept. 20 to submit views.



Mbadi said the country had no choice but to keep servicing its debt, which stands at above the optimum level recommended by the World Bank and the International Monetary Fund, after years&nbsp;of borrowing driven by&nbsp;infrastructure construction.



&#8220;We have no two ways about it. There is no debt restructuring in this country. We will not accept it. We will not do it. We will manage our debts and pay and remain afloat,&#8221; he said.



Once the situation improves, the government will consider tax cuts in the medium term, Mbadi said, including reducing the value added tax on goods and services to 14% from 16%, and slashing the corporate income tax by 500 basis points to 25%.



($1 = 128.2500 Kenyan shillings)



(Reporting by Duncan Miriri; editing by George Obulutsa and Andrew Cawthorne)

COP28 In Dubai High Level Segment

Kenya asks public for help with economic fix laws after protests

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="485" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LYNXMPED080GF.jpg" alt="" class="wp-image-527491" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LYNXMPED080GF.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LYNXMPED080GF-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LYNXMPED080GF-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">A utility pole supporting wires for electricity distribution is seen in Nairobi, Kenya, November 11, 2015. REUTERS/Siegfried Modola</figcaption></figure>



NAIROBI, Sept 6 (Reuters)&nbsp;&#8211;&nbsp;A power outage hit most parts of Kenya on Friday, Kenya Power&nbsp;KPLC.NR&nbsp;said, the second major blackout in a week.



The national distributor did not give any details on the cause. Large areas were affected, apart from parts of the North Rift and Western regions, it said in a statement.



Kenya has suffered a number of blackouts over the past year including one that lasted for several hours on the evening of Friday last week.



One that Kenya Power said was caused by a system disturbance affected most of the country in May.



In August last year, the transport minister apologised after another widespread blackout plunged Nairobi&#8217;s main airport into darkness.



(Reporting by George Obulutsa and Humphrey Malalo; Editing by Andrew Heavens)

LYNXMPED080GF

Power blackout hits most of Kenya, utility says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="550" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NAE5BQB57NNCZEMRT4TCKAKPXA-820x550.jpg" alt="" class="wp-image-527482" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NAE5BQB57NNCZEMRT4TCKAKPXA-820x550.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NAE5BQB57NNCZEMRT4TCKAKPXA-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NAE5BQB57NNCZEMRT4TCKAKPXA-134x90.jpg 134w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NAE5BQB57NNCZEMRT4TCKAKPXA-768x515.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NAE5BQB57NNCZEMRT4TCKAKPXA-1536x1030.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NAE5BQB57NNCZEMRT4TCKAKPXA-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: People gather as volunteers search to retrieve the bodies of residents killed by a landslide due to heavy rainfall in a landfill known as Kiteezi that serves as garbage dumping site, in the Lusanja village, outside Kampala, Uganda August 10, 2024. REUTERS/Abubaker Lubowa//File Photo</figcaption></figure>



KAMPALA, Sept 5 (Reuters)&nbsp;&#8211;&nbsp;The World Bank and French Development Agency (AFD) have given Uganda more than $600 million to fund infrastructure development and manage waste in the capital Kampala, the government and World Bank said on Thursday.



Ugandans have complained about waste management and the poor state of the roads in Kampala, which suffers chronic underfunding from the central government.



Last month a garbage landslide at a landfill site on Kampala&#8217;s outskirts buried houses as residents slept, killing at least 35 people.



A total of $566 million worth in funding, much of it credit, will come from the World Bank, and $42.7 million will be provided by ADF, the statements said.



&#8220;Rapid urban expansion has exposed significant gaps in infrastructure&#8221; the World Bank said.



Last year, the World Bank said it would stop lending to Uganda after the east African country passed a harsh anti-gay law.



In an emailed response to a Reuters&#8217; query the World Bank said the ban was still in effect but that the latest credit extended to Uganda was approved before the ban.



(Reporting by Elias Biryabarema; Editing by Hereward Holland and Barbara Lewis)

FILE PHOTO: Aftermath of a landslide due to heavy rainfall, in Kampala

World Bank, French Development Agency give Uganda aid of over $600 mln

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="551" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WH675YVHBZPIZNYJUJB4CMI73E-1-820x551.jpg" alt="" class="wp-image-526756" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WH675YVHBZPIZNYJUJB4CMI73E-1-820x551.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WH675YVHBZPIZNYJUJB4CMI73E-1-300x202.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WH675YVHBZPIZNYJUJB4CMI73E-1-134x90.jpg 134w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WH675YVHBZPIZNYJUJB4CMI73E-1-768x516.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WH675YVHBZPIZNYJUJB4CMI73E-1-1536x1032.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WH675YVHBZPIZNYJUJB4CMI73E-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A view shows a toll station on the Expressway undertaken by the China Road and Bridge Corporation (CRBC) on a public-private partnership (PPP) basis, in Nairobi, Kenya May 8, 2022. REUTERS/Thomas Mukoya</figcaption></figure>



NAIROBI, Sept 4 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s private sector activity picked up in August as firms recovered from disruption caused by anti-government protests the previous month, a survey showed on Wednesday.



The Stanbic Bank Kenya Purchasing Managers&#8217; Index rose to 50.6 in August from 43.1 a month earlier. Readings below 50.0 signal a contraction in activity, while those above 50.0 indicate expansion.



&#8220;The Stanbic Bank Kenya PMI indicated a mild recovery in business conditions during August as the impact of protests faded, allowing firms to broadly resume normal operations,&#8221; Stanbic Bank Kenya said in comments accompanying the survey.



The July figure was a drop from 47.2 in June and reflected the effects of protests against the government during both months which disrupted some business activity.



In June, President William Ruto discarded the government&#8217;s finance bill for the year, which contained tax hikes worth 346 billion shillings ($2.69 billion), following deadly street protests.



&#8220;Output increased across three of the five broad sectors covered by the survey, with renewed growth in services, wholesale &amp; retail and construction,&#8221; Stanbic Bank Kenya said.



&#8220;By contrast, there were declines in activity across manufacturing and agriculture.&#8221;



The survey painted a gloomy outlook, with most of those polled expressing pessimism over economic prospects for the next 12 months, and only 5% of companies saying they expected growth.



&#8220;Business expectations worsened in August, implying firms as less hopeful about output over the next 12 months,&#8221; Christopher Legilisho, an economist at Stanbic Bank, said.



(Reporting by George Obulutsa; Editing by Christina Fincher)

FILE PHOTO: Shadow of Kenya’s borrowing binge to hang over next president

Kenya private sector activity picks up in August, PMI shows

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="521" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-820x521.jpg" alt="" class="wp-image-516586" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-820x521.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-300x191.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-142x90.jpg 142w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-768x488.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-1536x976.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller handles U.S. dollar banknotes and Kenya shilling banknotes inside the cashier&#8217;s booth at a forex exchange bureau in downtown Nairobi, Kenya, February 16, 2024. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Sept 4 (Reuters) &#8211; Kenya&#8217;s shilling firmed slightly against the dollar on Wednesday, LSEG data showed.



At 0720 GMT, the shilling traded at 128.25/129.25 to the U.S. currency, compared with Tuesday&#8217;s closing rate of 128.50/129.50.



Traders had said earlier this week that the shilling was expected to gain ground, helped by dollar inflows from the agriculture and tourism sectors.



(Reporting by George Obulutsa; Editing by Alexander Winning)

Kenyan shilling gains ground against the dollar – LSEG data

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-820x547.jpg" alt="" class="wp-image-510212" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A worker at a foreign exchange currency bureau counts 1000 Ugandan shilling banknotes in Kampala, Uganda, on Wednesday, Aug. 16, 2023. Uganda&#8217;s central bank said it stands ready to act if the World Bank&#8217;s decision to halt new funding over the country&#8217;s passage of anti-LGBTQ legislation impacts the currency further. Photographer: Luke Dray/Bloomberg via Getty Images</figcaption></figure>



KAMPALA, Sept 3 (Reuters) &#8211; The Ugandan shilling was broadly stable on Tuesday, although it was expected to weaken due to increased demand for dollars from general merchandise importers, traders said.



At 0740 GMT, commercial banks quoted the shilling at 3,720/3,730, compared with Monday&#8217;s closing rate of 3,718/3,728.



(Reporting by Elias Biryabarema; Editing by George Obulutsa)

Ugandan shilling broadly stable, to ease due to importer FX demand

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="425" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24.jpg" alt="" class="wp-image-498541" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24.jpg 720w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24-300x177.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24-152x90.jpg 152w" sizes="auto, (max-width: 720px) 100vw, 720px" /><figcaption class="wp-element-caption">Kenya shilling coins and notes are pictured inside a cashier&#8217;s booth at a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Sept 3 (Reuters) &#8211; Kenya&#8217;s shilling was unchanged on Tuesday, and traders said it was expected to strengthen, helped by tea export dollar inflows.



At 0731 GMT, commercial banks quoted the shilling at 128.25/129.25 per dollar, the same level as Monday&#8217;s closing.



(Reporting by George Obulutsa; Editing by)

Kenyan shilling stable, agriculture exports boost eyed

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="529" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/UM66JBLQ7VPINAMXMHYRISRV7U-820x529.jpg" alt="" class="wp-image-526339" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/UM66JBLQ7VPINAMXMHYRISRV7U-820x529.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/UM66JBLQ7VPINAMXMHYRISRV7U-300x193.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/UM66JBLQ7VPINAMXMHYRISRV7U-140x90.jpg 140w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/UM66JBLQ7VPINAMXMHYRISRV7U-768x495.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/UM66JBLQ7VPINAMXMHYRISRV7U-1536x990.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/UM66JBLQ7VPINAMXMHYRISRV7U-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: An Ethiopian Airlines Boeing 787-9 Dreamliner plane is seen at the Asmara International Airport in Asmara, Eritrea July 18, 2018. REUTERS/Tiksa Negeri/File Photo</figcaption></figure>



ADDIS ABABA, Sept 3 (Reuters)&nbsp;&#8211;&nbsp;Ethiopia&#8217;s state-owned carrier Ethiopian Airlines&nbsp;said it&nbsp;has suspended flights to neighbouring Eritrea, citing unspecified difficult operating conditions.



Eritrea had previously said it would suspend all Ethiopian Airlines flights at the end of this month.



Flights from Ethiopia to Eritrea had resumed in 2018 after two decades, following a peace deal and resumption of diplomatic relations between the two neighbours that earned Ethiopia&#8217;s Prime Minister Abiy Ahmed a Nobel peace prize a year later.



Five diplomats told Reuters the suspension was a tangible signal that the relationship between Asmara and Addis had soured significantly, but said the risk of conflict resuming was unlikely for now.



The two countries had previously severed ties in 1998, when a two-year war between the two nations started over their disputed border.



Eritrea fought alongside Ethiopia in a war that erupted in November 2020 against regional forces from&nbsp;Ethiopia&#8217;s Tigray region, but relations soured once again after Asmara was excluded from the peace talks that ended that conflict two years later, and because some of its troops remain in Tigray.



&#8220;Ethiopian Airlines regrets to inform its valued customers travelling to/from Asmara that it has suspended its flights to Asmara effective Sept.3 &#8230; due to very difficult operating conditions it has encountered in Eritrea that are beyond its control,&#8221; Ethiopian Airlines said in a statement late on Monday.



The airline said it would try to rebook affected passengers on other airlines at no additional cost or offer refunds, but did not give more details on the conditions it was referring to



Eritrea Information Minister Yemane Gebremeskel did not immediately respond to a request for comment.



Ethiopian Airlines is ranked the largest in Africa by revenue and profit by the global industry body International Air Transport Association.



(Reporting by Dawit Endeshaw in Addis Ababa and Giulia Paravicini in Nairobi; Writing by George Obulutsa; Editing by Lincoln Feast.)

An Ethiopian Airlines Boeing 787 plane is seen at the Asmara International Airport in Asmara

Ethiopian Airlines says it has stopped flights to Eritrea

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1920" height="1280" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/MLMMPYYK3JO6FGC6TA5OERDDR4.jpg" alt="" class="wp-image-525041" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/MLMMPYYK3JO6FGC6TA5OERDDR4.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/MLMMPYYK3JO6FGC6TA5OERDDR4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/MLMMPYYK3JO6FGC6TA5OERDDR4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/MLMMPYYK3JO6FGC6TA5OERDDR4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/MLMMPYYK3JO6FGC6TA5OERDDR4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/MLMMPYYK3JO6FGC6TA5OERDDR4-1536x1024.jpg 1536w" sizes="auto, (max-width: 1920px) 100vw, 1920px" /><figcaption class="wp-element-caption">A customer stands in front of the bread section at a supermarket in Nairobi, Kenya May 8, 2017. Picture taken May 8, 2017. REUTERS/Baz Ratner/File Photo</figcaption></figure>



NAIROBI, Aug 30 (Reuters) &#8211; Kenya&#8217;s inflation edged up to 4.4% year-on-year in August from 4.3% in July, data from the statistics office showed on Friday.



On a month-on-month basis inflation was flat at 0.0% from -0.2% in July, the Kenya National Bureau of Statistics said in a statement.



The Kenyan government targets an inflation rate of between 2.5% and 7.5% in the medium term.



Kenya&#8217;s central bank cut its benchmark lending rate by 25 basis points earlier this month, saying there was scope to ease policy gradually as inflation had fallen below the midpoint of its target range.



(Reporting by George Obulutsa and Hereward Holland; Editing by Alexander Winning)

MLMMPYYK3JO6FGC6TA5OERDDR4

Kenya’s inflation rises slightly to 4.4% yr/yr in August

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-820x547.jpg" alt="" class="wp-image-510212" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A worker at a foreign exchange currency bureau counts 1000 Ugandan shilling banknotes in Kampala, Uganda, on Wednesday, Aug. 16, 2023. Uganda&#8217;s central bank said it stands ready to act if the World Bank&#8217;s decision to halt new funding over the country&#8217;s passage of anti-LGBTQ legislation impacts the currency further. Photographer: Luke Dray/Bloomberg via Getty Images</figcaption></figure>



KAMPALA, Aug 30 (Reuters) &#8211; The Ugandan shilling was flat on Friday, due to low dollar supply and demand, traders said.



At 1036 GMT, commercial banks quoted the shilling at 3,710/3,720, the same level as Thursday&#8217;s closing rate.



(Reporting by Elias Biryabarema; Editing by George Obulutsa)

Ugandan shilling flat amid thin activity

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="521" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-820x521.jpg" alt="" class="wp-image-516586" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-820x521.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-300x191.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-142x90.jpg 142w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-768x488.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-1536x976.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller handles U.S. dollar banknotes and Kenya shilling banknotes inside the cashier&#8217;s booth at a forex exchange bureau in downtown Nairobi, Kenya, February 16, 2024. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Aug 30 (Reuters) &#8211; The Kenyan shilling was unchanged on Friday, with little market activity, traders said.



At 0823 GMT, LSEG data showed the shilling at 128.25/129.25 to the U.S. dollar, the same as at the close of Thursday&#8217;s session.



&#8220;We&#8217;re not seeing any interest on either side. No major tickets on bids or offers,&#8221; one trader said.



(Reporting by Hereward Holland; Editing by Alexander Winning)

Kenyan shilling unchanged in quiet market, traders say

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING.jpg" alt="" class="wp-image-524644" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING-768x512.jpg 768w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Uganda shillings. Uganda. (Photo by: Godong/Universal Images Group via Getty Images)</figcaption></figure>



KAMPALA, Aug 29 (Reuters)&nbsp;&#8211;&nbsp;The Ugandan shilling&nbsp;UGX=&nbsp;was little-changed on Thursday, with some inflows of dollars from offshore investors who participated in this week&#8217;s Treasury auction giving support, traders said.



At 1046 GMT, commercial banks quoted the shilling at 3,710/3,720, compared with Wednesday&#8217;s closing rate of 3,712/3,722.



(Reporting by Elias Biryabarema;Editing by George Obulutsa)

East Africa

Ugandan shilling trades slightly firmer on muted demand

Kenyan shilling broadly steady in balanced market

Kenyan court halts proposed Adani lease of country’s main airport

Kenyan shilling unchanged versus dollar

Ugandan shilling flat as remittance inflows lend support

Kenya asks public for help with economic fix laws after protests

Power blackout hits most of Kenya, utility says

World Bank, French Development Agency give Uganda aid of over $600 mln

Kenya private sector activity picks up in August, PMI shows

Kenyan shilling gains ground against the dollar – LSEG data

Ugandan shilling broadly stable, to ease due to importer FX demand

Kenyan shilling stable, agriculture exports boost eyed

Ethiopian Airlines says it has stopped flights to Eritrea

Kenya’s inflation rises slightly to 4.4% yr/yr in August

Ugandan shilling flat amid thin activity

Kenyan shilling unchanged in quiet market, traders say

Ugandan shilling steady, offshore investor FX flows offer support

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East Africa

Ugandan shilling trades slightly firmer on muted demand

Kenyan shilling broadly steady in balanced market

Kenyan court halts proposed Adani lease of country’s main airport

Kenyan shilling unchanged versus dollar

Ugandan shilling flat as remittance inflows lend support

Kenya asks public for help with economic fix laws after protests

Power blackout hits most of Kenya, utility says

World Bank, French Development Agency give Uganda aid of over $600 mln

Kenya private sector activity picks up in August, PMI shows

Kenyan shilling gains ground against the dollar – LSEG data

Ugandan shilling broadly stable, to ease due to importer FX demand

Kenyan shilling stable, agriculture exports boost eyed

Ethiopian Airlines says it has stopped flights to Eritrea

Kenya’s inflation rises slightly to 4.4% yr/yr in August

Ugandan shilling flat amid thin activity

Kenyan shilling unchanged in quiet market, traders say

Ugandan shilling steady, offshore investor FX flows offer support

News Tips

Advertise With Us

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