<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/ZCC42XEXUBJ3HISRP7XYZFWFXM-820x547.jpg" alt="" class="wp-image-510295" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/ZCC42XEXUBJ3HISRP7XYZFWFXM-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/ZCC42XEXUBJ3HISRP7XYZFWFXM-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/ZCC42XEXUBJ3HISRP7XYZFWFXM-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/ZCC42XEXUBJ3HISRP7XYZFWFXM-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/ZCC42XEXUBJ3HISRP7XYZFWFXM-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/ZCC42XEXUBJ3HISRP7XYZFWFXM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Smoke rises from inside a car, during an anti-government demonstration following nationwide deadly riots over tax hikes, within Pipeline estate, near the Jomo Kenyatta International airport (JKIA) in Nairobi, Kenya, July 23, 2024. REUTERS/Thomas Mukoya</figcaption></figure>



NAIROBI, July 23 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s police fired tear gas to prevent scuffles between groups of protesters and government supporters in the capital Nairobi on Tuesday, as youth-led demonstrations against alleged corruption and misgovernance dragged into their sixth week.



Protests, which began in opposition to tax hikes and climaxed in the storming of parliament, have continued despite President William Ruto abandoning the $2.7 billion finance bill in June.



At the time, he also fired almost all of his cabinet, although he retained many holdovers from the prior administration when he named part of his new line up last Friday. On Tuesday, Ruto announced further changes including swapping his defence and environment ministers.



For the first time since protests began on June 18, a group of government supporters, mostly on motorcycles, paraded through downtown Nairobi blowing whistles and plastic horns and carrying placards reading &#8220;We support the president&#8221; and &#8220;Enough is enough.&#8221;



&#8220;We will make sure that business must go back to normal in this city. We condemn the protests,&#8221; said one government supporter, who declined to give his name.



Police have said the protests, which have claimed at least 50 lives, have been infiltrated by criminal gangs.



Anti-government protesters chanted what has become their most defining mantra: &#8220;Ruto must go.&#8221;



&#8220;The police are only targeting us peaceful demonstrators, while hired goons, covered in masks on motorbikes with concealed number plates are moving in plain sight as the police just watch,&#8221; said one protester, who also declined to give a name.



<h2 class="wp-block-heading" id="h-airports-operate-normally">AIRPORTS OPERATE NORMALLY</h2>



In Pipeline Estate in Embakasi, a neighbourhood in the east of the city, men in army and air force fatigues assisted the police in running battles with groups of people, a Reuters journalist said.



It wasn&#8217;t clear if they were protesters or simply rioters, the journalist said. The police spokesperson, the commander of the Nairobi police force and the army spokesperson did not immediately respond to Reuters&#8217; requests for comment.



Having previously said he was listening to protesters&#8217; demands, Ruto struck a less conciliatory tone on Sunday, saying he would protect the peace and stability of the nation and deal firmly &#8220;with those who are engaged in mayhem, in anarchy.&#8221;



Leading activists in the otherwise leaderless protest movement called on people to &#8220;occupy&#8221; Nairobi&#8217;s main airports on Tuesday, but heavy police presence on surrounding roads prevented any serious disruption.



The airport&#8217;s operator asked passengers to arrive hours before flights because of enhanced security checks.



(Additional reporting by Humphrey Malalo; Writing by George Obulutsa and Hereward Holland; Editing by Duncan Miriri, Michael Perry and Sharon Singleton)

Demonstration following nationwide deadly riots over tax hikes and a controversial now-withdrawn finance bill, in Nairobi

Kenya police fire tear gas to stop scuffles between pro and anti-government groups

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1366" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-scaled.jpg" alt="" class="wp-image-510212" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-820x547.jpg 820w, 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" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><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, July 23 (Reuters) &#8211; The Ugandan shilling weakened slightly on Tuesday on the back of some demand for dollars from merchandise importers and commercial banks, traders said.



At 0943 GMT commercial banks quoted the shilling at 3,692/3,702, compared with Monday&#8217;s closing rate of 3,688/3,698.



(Reporting by Elias Biryabarema; Editing by George Obulutsa)

Ugandan Economy Following Rate Cut

Ugandan shilling slightly weaker on importer FX demand

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1920" height="1280" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1.jpg" alt="" class="wp-image-510152" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/42CTWLL6LJPYDHMYIWIJ6ISWHI-1-1536x1024.jpg 1536w" sizes="auto, (max-width: 1920px) 100vw, 1920px" /><figcaption class="wp-element-caption">President William Kipchirchir Ruto of Kenya speaks during a plenary session of the Summit on peace in Ukraine, in Stansstad near Lucerne, Switzerland, June 16, 2024. URS FLUEELER/Pool via REUTERS/File Photo</figcaption></figure>



NAIROBI, July 23 (Reuters)&nbsp;&#8211;&nbsp;Kenya has submitted an economic repair plan to the International Monetary Fund and it expects the fund&#8217;s board to review it for approval at the end of August, the country&#8217;s chief minister told a parliamentary panel.



Kenya had to rapidly draw up new spending cuts after widespread youth-led protests against tax hikes previously put forward by President William Ruto&#8217;s government left at least 50 people dead.



Kenya&#8217;s chief minister Musalia Mudavadi said that the Treasury &#8220;has had a very robust engagement with the International Monetary Fund&#8221; despite the tax-hike setback.



&#8220;It is our desire and hope that Kenya&#8217;s proposition will receive favourable consideration so that we can move beyond the challenges that we are facing,&#8221; Mudavadi told the parliamentary budget committee in remarks seen by Reuters on Tuesday.



The IMF did not immediately comment. The East African nation has a $3.6 billion IMF programme, and the Fund had reached a staff level agreement on the seventh review of Kenya&#8217;s programme in early June.



But its board had not signed off on the review when Ruto scrapped the tax hikes that were a core part of its plan to meet IMF targets, and investors said the political turmoil would make getting IMF cash trickier.



Even at the review, Kenya had sought IMF waivers after failing to meet two targets on balancing the budget and tax collection.



Mudavadi said that under the revised spending plan for the 2024/25 financial year, the budget deficit is projected to rise to 4.2% of gross domestic product, up from 3.3% before the withdrawal of the finance bill.



&#8220;The revision to the deficit barely a week after the initial plan underlines the herculean task faced by the authorities to achieve their fiscal consolidation goals,&#8221; Ayodeji Dawodu, head of Africa research and strategy with boutique investment banking group BancTrust &amp; Co said in a note.



(Reporting by Duncan Miriri; Editing by Alison Williams, Libby George and Alexandra Hudson)

42CTWLL6LJPYDHMYIWIJ6ISWHI (1)

IMF to consider Kenya’s economic plan at end of August, chief minister says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1366" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Kenya-Shilling-banknotes-and-coins-scaled.jpg" alt="" class="wp-image-381494" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Kenya-Shilling-banknotes-and-coins-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Kenya-Shilling-banknotes-and-coins-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Kenya-Shilling-banknotes-and-coins-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Kenya-Shilling-banknotes-and-coins-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Kenya-Shilling-banknotes-and-coins-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Kenya-Shilling-banknotes-and-coins-1110x740.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Kenya-Shilling-banknotes-and-coins-696x464.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Kenya-Shilling-banknotes-and-coins-1068x712.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/Kenya-Shilling-banknotes-and-coins-1920x1280.jpg 1920w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Kenyan shilling banknotes and coins sit arranged at a market stall in Mombasa, Kenya, on Thursday, Nov. 23, 2017. The countrys Treasury has already cut this years growth target to 5 percent from 5.9 percent as the protracted election furor damped investment and a drought curbed farm output. Photographer: Luis Tato/Bloomberg</figcaption></figure>



NAIROBI, July 23 (Reuters) &#8211; Kenya&#8217;s shilling weakened against the dollar on Tuesday, traders said, weighed on by banks covering their positions.



At 0801 GMT, the shilling traded at 131.50/132.50 per dollar, compared with Monday&#8217;s closing rate of 130.50/131.50.



The higher demand for dollars was driven by the need to support importers in sectors like manufacturing and energy, traders said.



Investors have also expressed concerns about political turmoil sparked by violent protests, which started last month, against a government plan to hike taxes.



(Reporting by George Obulutsa and Duncan Miriri)

General Economy As Kenya Faces Bleak 2018 Outlook In Vote Aftermath

Kenya’s shilling eases against the dollar on bank demand

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1241" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/CP5TTKOKHFOJDPSDGWT5QFQDP4-scaled.jpg" alt="" class="wp-image-510149" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/CP5TTKOKHFOJDPSDGWT5QFQDP4-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/CP5TTKOKHFOJDPSDGWT5QFQDP4-300x182.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/CP5TTKOKHFOJDPSDGWT5QFQDP4-820x497.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/CP5TTKOKHFOJDPSDGWT5QFQDP4-149x90.jpg 149w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/CP5TTKOKHFOJDPSDGWT5QFQDP4-768x465.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/CP5TTKOKHFOJDPSDGWT5QFQDP4-1536x931.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Uganda security forces patrol near the National Unity Platform (NUP) political party offices led by Robert Kyagulanyi, popularly known as Bobi Wine, ahead of anti-government protests at the Makerere Kavule, in the suburb of Kampala, Uganda July 22, 2024. REUTERS/Abubaker Lubowa</figcaption></figure>



KAMPALA, July 23 (Reuters)&nbsp;&#8211;&nbsp;Ugandan security forces detained a number of young people on Tuesday in downtown Kampala who were taking part in a banned rally against what the protesters say are rampant corruption and human rights abuses by the country&#8217;s rulers.



A Reuters witness saw the detentions being made, while a video posted by NTV Uganda on the X social media platform also showed a small group of young people being intercepted and detained by police while they were marching.



The protesters were holding placards and shouting slogans denouncing corruption. One wore a T-shirt bearing the words &#8220;Speaker Must Resign&#8221;.



A police spokesman was not immediately available to say how many people had been detained.



Authorities banned the planned protest, citing intelligence they said showed criminally-minded youths might hijack it in order to loot and vandalise.



Soldiers and police have been deployed around the parliament building and in the centre of the Ugandan capital with the aim of deterring any protesters.



All roads to the parliament were blocked off, with only lawmakers and other parliamentary staff having access, and NTV Uganda images showed military&nbsp;armoured personnel carriers&nbsp;patrolling the area.



Ugandans&nbsp;with businesses near parliament were experiencing difficulty getting to their premises.



&#8220;It&#8217;s like a war zone,&#8221; Edwin Mugisha, who works in Kampala, told Reuters,&nbsp;referring to the military&nbsp;patrols.



On Monday police sealed off the offices of Uganda&#8217;s biggest opposition party, accusing it of mobilising for the protests, and detained some party officials, including its lawmakers.



The party denied it was organising the march, but said it supported it.



Opposition leaders and rights activists say embezzlement and misuse of government funds are widespread in Uganda. They&nbsp;have long accused&nbsp;President Yoweri&nbsp;Museveni of failing to prosecute corrupt senior officials who are politically loyal or related to him.



Museveni has repeatedly denied condoning corruption and says whenever there is sufficient evidence,&nbsp;culprits&nbsp;including lawmakers and even ministers&nbsp;are prosecuted.



(Writing by Elias Biryabarema; Editing by George Obulutsa, Clarence Fernandez and Gareth Jones)

Police and troops block Ugandan opposition NUP’s headquarters ahead of protest, in Kampala

Heavy security patrols in Uganda’s capital ahead of planned protest

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1367" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-2161691446-scaled.jpg" alt="" class="wp-image-510146" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-2161691446-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-2161691446-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-2161691446-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-2161691446-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-2161691446-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-2161691446-1536x1025.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">NAIROBI, KENYA &#8211; JULY 16: Demonstrators opposed to the &#8220;Finance Bill 2024&#8221;, which proposes a tax bill, march towards the parliament building to protest against the government in Nairobi, Kenya on July 16, 2024. The Kenyan Parliament passed the Finance Bill 2024 last month, with 204 members voting in favor and 105 against. (Photo by Gerald Anderson/Anadolu via Getty Images)</figcaption></figure>



NAIROBI, July 23 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s police has asked protesters to avoid marching to the capital&#8217;s main airport and its environs, while the airport&#8217;s operator has asked passengers to arrive hours before flights due to enhanced security checks.



Youth-led protests across Kenya against proposed tax hikes have continued even after President William Ruto withdrew the legislation in late June and fired almost all of his cabinet. He named part of his new cabinet on Friday, mostly retaining holdovers from the cabinet he had sacked.



Some protesters had mobilised to march to the airport, prompting the police warning.



Activists say they want Ruto to resign and are calling for reforms to clean up corruption and address poor governance and service delivery at national and regional governments.



Protesters should avoid going into restricted areas, including airports, Douglas Kanja, acting police inspector general, said in a statement late on Monday.



Airport operator Kenya Airports Authority advised passengers using the Jomo Kenyatta International Airport to arrive earlier than usual.



Police have in the past said the protests, which have claimed at least 50 lives since erupting nearly a month ago, had been infiltrated by criminal gangs.



The marches began peacefully but later turned violent.



Some demonstrators briefly stormed parliament on June 25, and the police opened fire.



(Writing by George Obulutsa; Editing by Duncan Miriri and Michael Perry)

Demonstration against tax bill in Kenya

Kenya police warn against protests at capital’s main airport

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-scaled.jpg" alt="" class="wp-image-493552" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: Tanzania&#8217;s President Samia Suluhu Hassan speaks with U.S. Vice President Kamala Harris (not pictured) during a meeting inside the Eisenhower Executive Office Building at the White House in Washington, U.S., April 15, 2022. REUTERS/Elizabeth Frantz/File Photo</figcaption></figure>



DAR ES SALAAM, July 22 (Reuters)&nbsp;&#8211;&nbsp;Tanzania&#8217;s President Samia Suluhu Hassan has fired two senior members of government including the foreign minister in a mini-cabinet reshuffle, her office said.



The changes came as Hassan seeks to regain trust from foreign powers over a programme of economic and political reforms, including easing restrictions on opposition parties and media, that some critics had seen as faltering.



The presidency announced late on Sunday that Hassan terminated the appointments of the minister of foreign affairs and East Africa cooperation, January Makamba, and the minister of information, communication and information technology, Nape Nnauye.



They are influential figures in the ruling party, Chama cha Mapinduzi (CCM).



No reason was given for their removal. Makamba and Nnauye did not immediately respond to requests for comment.



The dismissal of Nnauye comes a week after comments he made surfaced in a video, saying elections results would depend on who counts votes and announces the results.



Nnauye later apologised, saying it was a joke, but activists and some social media users said the statement undermined Hassan&#8217;s push to improve democracy.



Hassan appointed Mahmoud Thabit Kombo as new foreign affairs minister and Jerry Silaa as minister of information, communication and information technology.



Before Kombo&#8217;s appointment, he was Tanzania&#8217;s ambassador to Italy while Silaa was the minister of lands, housing and human settlements development. Two more ministers and deputy ministers were also appointed, the presidency said.



In power since 2021, Hassan&#8217;s government has won praise for rolling back her predecessor&#8217;s crackdowns on the opposition and civil rights groups. But arrests last year of a lawyer and an opposition politician have raised questions over her government&#8217;s human rights record.



(Reporting by Nuzulack Dausen; Editing by George Obulutsa and Andrew Cawthorne)

FILE PHOTO: U.S. Vice President Kamala Harris meets with Tanzania’s President Samia Suluhu Hassan inside the Eisenhower Executive Office Building at the White House in Washington

Tanzania’s president dismisses foreign, information ministers

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1366" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-scaled.jpg" alt="" class="wp-image-506008" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-1536x1025.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Ugandan shilling and US dollars in the draw at a foreign exchange currency bureau 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, July 22 (Reuters) &#8211; The Ugandan shilling was flat on Monday, drawing some support from subdued importer demand for dollars, traders said.



At 0900 GMT, commercial banks quoted the shilling at 3,690/3,700, unchanged from Friday&#8217;s closing rate.



(Reporting by Elias Biryabarema; Editing by George Obulutsa)

Ugandan shilling flat; importer FX demand low

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1200" height="628" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY.jpg" alt="" class="wp-image-506011" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY.jpg 1200w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-768x402.jpg 768w" sizes="auto, (max-width: 1200px) 100vw, 1200px" /><figcaption class="wp-element-caption">A teller serves a client with Kenya shilling notes at the cashier&#8217;s booth of a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, July 22 (Reuters) &#8211; Kenya&#8217;s shilling edged down on Monday due to increased demand for dollars from the manufacturing sector and general goods importers, traders said.



At 0857 GMT, commercial banks quoted the shilling at 130.75/131.75 per dollar, compared with Friday&#8217;s closing rate of 130.50/131.50.



(Reporting by George Obulutsa; Editing by Duncan Miriri)

HCVRNAVJRJMOJBUK4XOB7PEJGY

Kenyan shilling inches down due to increased importer FX demand

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1311" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-scaled.jpg" alt="" class="wp-image-509343" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-300x192.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-820x525.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-141x90.jpg 141w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-768x492.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-1536x983.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: Kenya&#8217;s President William Ruto addresses delegates after signing the Independent Electoral and Boundaries Commission Amendment Bill 2024, backed by the National Dialogue Committee (NADCO), at the Kenyatta International Conference Centre in Nairobi, Kenya July 9, 2024. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, July 19 (Reuters) &#8211; Kenyan President William Ruto on Friday mostly named holdovers from the cabinet he sacked last week to a new government meant to respond to the grievances of young protesters.



In a televised address, Ruto announced 11 appointments &#8211; six from the previous cabinet&nbsp;&#8211;&nbsp;with others to follow soon.



The mass firing last week was a concession to demands from youth-led protests that had already forced him to withdraw $2.7 billion in proposed tax hikes amid the biggest crisis of his two-year presidency.



The protests have resulted in more than 50 deaths since mid-June, and many demonstrators are now calling for Ruto to resign. Large protests took place again this week despite the president&#8217;s concessions.



Ruto re-appointed the ministers of interior, defence, environment and lands and changed the portfolios of two other ministers.



The appointee to be education minister, Julius Migos Ogamba, was the running mate of the outgoing education minister, Ezekiel Machogu, when Machogu stood unsuccessfully for governor of Kisii County in 2022, local media reports showed.



The nominees to be ministers of health, information, agriculture, water and education did not appear to have political backgrounds.



&#8220;I will be issuing next week a clear roadmap on the assignment that the new cabinet is going to have, with clear timelines and deliverables,&#8221; Ruto said.



The protests have left Ruto caught between pressure from lenders to pay down high debts and a public reeling from high living costs. The government has proposed austerity measures to narrow the deficit caused by shelving the proposed tax raises.



Kenyan media outlets had earlier reported that some members of the political opposition were likely to be named to Ruto&#8217;s new cabinet.



Activists behind the protests, which have no official leader and reject the entire political class as corrupt, have opposed the idea of a unity government.



They said a deal between rival coalitions would only perpetuate a tradition in Kenyan politics of leaders co-opting the opposition with jobs and perks while the population sees no benefits.



(Reporting by Aaron Ross, George Obulutsa, Humphrey Malalo in Nairobi, Tannur Anders in JohannesburgWriting by Aaron Ross Editing by Bate Felix)

Kenya’s President William Ruto signs the Independent Electoral and Boundaries Commission Amendment Bill 2024, in Nairobi

Kenya’s Ruto retains former ministers in new cabinet appointments

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-scaled.jpg" alt="" class="wp-image-422955" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-scaled.jpg 2048w, 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-924883576-1-820x547.jpg 820w, 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" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Uganda shillings. Uganda. (Photo by: Godong/Universal Images Group via Getty Images)</figcaption></figure>



KAMPALA, July 19 (Reuters) &#8211; The Ugandan shilling inched lower on Friday on the back of elevated demand for hard currency from players in the interbank market, traders said.



At 0906 GMT commercial banks quoted the shilling at 3,690/3,700, compared to Thursday&#8217;s close of 3,685/3,695.



(Reporting by Elias Biryabarema; Editing by Hereward Holland)

GettyImages-924883576-1

Ugandan shilling inches lower on interbank FX demand

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="485" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/CORIUWLHAJI4LNBBJBT32ZAVTI.jpg" alt="" class="wp-image-422769" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/CORIUWLHAJI4LNBBJBT32ZAVTI.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/CORIUWLHAJI4LNBBJBT32ZAVTI-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/CORIUWLHAJI4LNBBJBT32ZAVTI-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">Kenya Central Bank Governor Patrick Njoroge displays Kenyan shilling bank notes during a news conference at the Central Bank in Nairobi, Kenya, June 3, 2019. REUTERS/Baz Ratner</figcaption></figure>



NAIROBI, July 19 (Reuters) &#8211; Kenya&#8217;s shilling was stable on Friday but faced pressure from interbank foreign currency demand amid thin supply, traders said.



At 0717 GMT, commercial banks quoted the shilling at 131.00/132.00 per dollar, the same as Thursday&#8217;s close.



&#8220;We haven&#8217;t received demands from oil marketers. It&#8217;s mostly from the interbank space,&#8221; said one trader at a commercial bank.



(Reporting by Hereward Holland; Editing by Bate Felix)

Kenya Central Bank Governor Patrick Njoroge displays the newly designed Kenyan shilling bank notes during a news conference at the Central Bank in Nairobi

Kenyan shilling stable, pressured by interbank FX demand

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="536" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/KCD5AG3PPBMM3P4T4YY7RIKCA4-820x536.jpg" alt="" class="wp-image-508945" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/KCD5AG3PPBMM3P4T4YY7RIKCA4-820x536.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/KCD5AG3PPBMM3P4T4YY7RIKCA4-300x196.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/KCD5AG3PPBMM3P4T4YY7RIKCA4-138x90.jpg 138w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/KCD5AG3PPBMM3P4T4YY7RIKCA4-768x502.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/KCD5AG3PPBMM3P4T4YY7RIKCA4-1536x1004.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/KCD5AG3PPBMM3P4T4YY7RIKCA4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Rwanda&#8217;s incumbent President and presidential candidate for the Rwandan Patriotic Front (RPF) Paul Kagame prepares to cast his ballot during the Presidential election at the SOS Kinyinya polling centre in Kigali, Rwanda July 15, 2024. REUTERS/Jean Bizimana/File Photo</figcaption></figure>



KIGALI, July 18 (Reuters)&nbsp;&#8211;&nbsp;Rwanda&#8217;s President Paul Kagame has been re-elected with 99.18% of the vote, the National Electoral Commission said on Thursday, extending his near quarter-century in office.



The two men standing against him &#8211; Frank Habineza from the Democratic Green Party and independent Philippe Mpayimana &#8211; both conceded defeat in Monday&#8217;s election, which rights groups say was marred by a crack-down on journalists, the opposition and civil society groups. A government spokesperson repeatedly rejected such criticism during the election period.



Oda Gasinzigwa, chairperson of the National Electoral Commission, told a news conference that voter turnout was 98.20% of the nine million registered voters.



The final election results are due to be announced no later than July 27, she said.



Kagame, who got more than 93% of the vote in the last three elections, has won praise from Western and regional leaders for helping to end the 1994 genocide in Rwanda and rebuilding the country into an attractive destination for investment and aid.



His reputation has been damaged, however, by accusations of abuses at home and supporting rebels in neighbouring Democratic Republic of Congo &#8211; allegations he has repeatedly denied.



The electoral commission barred eight other candidates, including Kagame&#8217;s most vocal critics, from running, citing a range of reasons including missing and incomplete registration documents.



(Writing by George Obulutsa; Editing by Peter Graff and Mark Potter)

Rwanda President Paul Kagame votes during the presidential election in Kigali

Rwanda’s President Kagame re-elected in a landslide

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1351" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/VK3RAQB775NTBEED5CNFMICK3A-scaled.jpg" alt="" class="wp-image-508890" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/VK3RAQB775NTBEED5CNFMICK3A-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/VK3RAQB775NTBEED5CNFMICK3A-300x198.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/VK3RAQB775NTBEED5CNFMICK3A-820x541.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/VK3RAQB775NTBEED5CNFMICK3A-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/VK3RAQB775NTBEED5CNFMICK3A-768x507.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/VK3RAQB775NTBEED5CNFMICK3A-1536x1014.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Riot police officers walk to disperse protestors during an anti-government demonstration, following nationwide deadly riots over tax hikes and a controversial now-withdrawn finance bill, in Nairobi, Kenya, July 16. REUTERS/John Muchucha</figcaption></figure>



NAIROBI, July 18 (Reuters) &#8211; Kenya&#8217;s government on Thursday ratcheted up its appeal for weeks of protests to stop as police banned demonstrations in the heart of the capital Nairobi, saying they had been infiltrated by criminal gangs.



Some activists called for people to gather on Thursday with camping gear to &#8220;occupy&#8221; Uhuru Park adjacent to the city centre, amid a heavy police presence across Nairobi.



At least 50 people have been killed in the youth-led protests against proposed tax hikes that broke out across Kenya a month ago and have continued even after President William Ruto withdrew the legislation and fired almost all of his cabinet.



Activists say they want Ruto to resign and are calling for reforms to clean up corruption and address poor governance.



The country has lost approximately 6 billion Kenyan shillings ($46 million) as a result of the demonstrations, government spokesperson Isaac Mwaura said, without explaining how he arrived at that figure.



&#8220;The president and the government at large (have) heard you loud and clear and we are ready to act on your concerns,&#8221; Mwaura said in a televised statement.



The protests, which have been organised online without the apparent support of opposition political figures, have created the biggest crisis of Ruto&#8217;s two years in power.



&#8220;We have credible intelligence that organised criminal groups are planning to take advantage of the ongoing protests to execute their attacks, including looting,&#8221; chief of police Douglas Kanja Kiricho said in a statement late on Wednesday.



&#8220;No demonstrations will be permitted in the Nairobi Central Business District and its surroundings until further notice to ensure public safety.&#8221;



<h2 class="wp-block-heading" id="h-broad-based-government">BROAD-BASED GOVERNMENT</h2>



In his latest concession, Ruto last week pledged to set up a broad-based government, but the opposition coalition on Wednesday rejected the idea, calling instead for a constitutional convention.



The rallies began peacefully but later turned violent.



Some demonstrators briefly stormed parliament on June 25, and the police opened fire.



Ruto&#8217;s office planned &#8220;multi-sectoral&#8221; talks for this week to address the protesters&#8217; grievances, but by Thursday there was no sign they had begun.



Most of the leading figures behind the protests have rejected the invitation, instead calling for immediate action on issues such as corruption.



&#8220;(The police and president Ruto) have no power to suspend rights guaranteed by the constitution,&#8221; activist Boniface Mwangi wrote on the social media platform X in response to the protest ban.



The Communications Authority of Kenya (CA), a regulatory body, has cautioned the media against &#8220;perpetuating&#8221; violence in their coverage of the protests, &#8220;which could potentially cause widespread civil unrest in the country&#8221;.



Some outlets have &#8220;compromised objectivity and balance in the reporting of crime, security operations and/or crisis situations,&#8221; CA chief David Mugonyi wrote in a July 17 letter to a media executive seen by Reuters.



($1 = 130.0000 Kenyan shillings)



(Reporting by Hereward Holland; Additional reporting by Humphrey Malalo; Editing by Michael Perry Ros Russell and Andrew Cawthorne)

Anti-government demonstration following nationwide deadly riots over tax hikes and a controversial now-withdrawn finance bill in Nairobi

Kenya bans protests in central Nairobi, blames criminal infiltration

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-scaled.jpg" alt="" class="wp-image-422955" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-scaled.jpg 2048w, 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-924883576-1-820x547.jpg 820w, 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" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Uganda shillings. Uganda. (Photo by: Godong/Universal Images Group via Getty Images)</figcaption></figure>



KAMPALA, July 18 (Reuters) &#8211; The Ugandan shilling was firmer on Thursday, helped by a slowdown in appetite for hard currency from both commercial banks and merchandise importers, traders said.



At 0830 GMT commercial banks quoted the shilling at 3,685/3,695, compared to Wednesday&#8217;s close of 3,690/3,700.



(Reporting by Elias Biryabarema; Editing by Hereward Holland)

Ugandan shilling firms on thin bank, importer FX appetite

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-scaled.jpg" alt="" class="wp-image-422955" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-scaled.jpg 2048w, 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-924883576-1-820x547.jpg 820w, 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" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Uganda shillings. Uganda. (Photo by: Godong/Universal Images Group via Getty Images)</figcaption></figure>



KAMPALA, July 17 (Reuters) &#8211; The Ugandan shilling was weaker on Wednesday, undermined by an uptick in demand for dollars from merchandise importers, traders said.



At 1045 GMT, commercial banks quoted the shilling at 3,695/3,705, compared with Tuesday&#8217;s closing rate of 3,688/3,698 levels.



(Reporting by Elias Biryabarema; Editing by George Obulutsa)

Ugandan shilling weaker on uptick in importer dollar demand

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-820x429.jpg" alt="" class="wp-image-506011" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY.jpg 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller serves a client with Kenya shilling notes at the cashier&#8217;s booth of a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, July 17 (Reuters) &#8211; Kenya&#8217;s shilling was stable on Wednesday as foreign exchange inflows from tea exports matched dollar demand, traders said.



At 0737 GMT, commercial banks quoted the shilling at 129.50/130.50 per dollar, the same as Tuesday&#8217;s close.



(Reporting by Hereward Holland; Editing by Alexander Winning)

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East Africa

Kenya police fire tear gas to stop scuffles between pro and anti-government groups

Ugandan shilling slightly weaker on importer FX demand

IMF to consider Kenya’s economic plan at end of August, chief minister says

Kenya’s shilling eases against the dollar on bank demand

Heavy security patrols in Uganda’s capital ahead of planned protest

Kenya police warn against protests at capital’s main airport

Tanzania’s president dismisses foreign, information ministers

Ugandan shilling flat; importer FX demand low

Kenyan shilling inches down due to increased importer FX demand

Kenya’s Ruto retains former ministers in new cabinet appointments

Ugandan shilling inches lower on interbank FX demand

Kenyan shilling stable, pressured by interbank FX demand

Rwanda’s President Kagame re-elected in a landslide

Kenya bans protests in central Nairobi, blames criminal infiltration

Ugandan shilling firms on thin bank, importer FX appetite

Ugandan shilling weaker on uptick in importer dollar demand

Kenyan shilling stable as FX inflows from tea exports match demand

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