<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 20 (Reuters) &#8211; Kenya&#8217;s shilling was unchanged on Friday, with dollar inflows from companies preparing to pay taxes matching foreign-currency demand from importers, traders said.



At 0752 GMT, commercial banks quoted the shilling at 128.50/129.50 per dollar, the same as Thursday&#8217;s closing rate.



(Reporting by George Obulutsa; Editing by Alexander Winning)

RLVCCF47LVIWPJR4O2PPITYMVI

Kenyan shilling stable as dollar supply matches importer demand

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1317" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/R5IFRXYGKRJAJJVUQVPJG5LLYI-scaled.jpg" alt="" class="wp-image-532488" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/R5IFRXYGKRJAJJVUQVPJG5LLYI-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/R5IFRXYGKRJAJJVUQVPJG5LLYI-300x193.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/R5IFRXYGKRJAJJVUQVPJG5LLYI-820x527.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/R5IFRXYGKRJAJJVUQVPJG5LLYI-140x90.jpg 140w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/R5IFRXYGKRJAJJVUQVPJG5LLYI-768x494.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/R5IFRXYGKRJAJJVUQVPJG5LLYI-1536x988.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: A man cycles past a chimney giving off emissions in an industrial area of Singapore January 5, 2016. REUTERS/Tim Wimborne/File Photo</figcaption></figure>



SINGAPORE, Sept 19 (Reuters)&nbsp;&#8211;&nbsp;Singapore&#8217;s low carbon, state-backed investment firm GenZero will collaborate with Rwanda on projects to generate carbon credits to offset emissions, it said on Thursday.



Countries such as Australia and Britain have ruled out the use of offsets, which have been widely criticised, to meet their net zero targets, but Singapore is relying on them because the city state lacks the space to build large-scale renewable projects.



The deal, signed by GenZero, the Rwanda Green Fund and carbon certification body Gold Standard that pledges to ensure project integrity, falls under Article 6 of the Paris Agreement on climate change.



The clause sets out ways for countries to meet climate targets by investing in low-carbon projects in other nations, either through bilateral arrangements or a yet-to-be finalised U.N. trading scheme.



&#8220;We will review potential projects with the Rwandan Green Fund and the Rwanda Environment Management Authority over the coming months, to determine their eligibility and suitability to be included in the collaboration,&#8221; Frederick Teo, chief executive of GenZero, an arm of the state investment fund Temasek, said.



&#8220;Projects can be nature-based solutions such as nature restoration, or technology-based solutions such as improved waste management.&#8221;



Though Article 6 negotiations are ongoing, Singapore has signed memoranda of understanding with Laos and the Philippines as well as legally binding &#8220;implementation agreements&#8221; with Ghana and Papua New Guinea.



Negotiations have also been completed on pacts with Bhutan, Paraguay and Vietnam, Ravi Menon, Singapore&#8217;s Ambassador for Climate Action, told a conference last week.



Singapore firms can offset up to 5% of taxable carbon emissions by buying credits through Article 6 deals.



Article 6 will be a priority during COP29 climate talks in Azerbaijan in November after negotiations on a final text broke down in Dubai last year.



Parties have struggled to reach consensus on how a U.N.-run carbon market should operate and some worry that bilateral agreements could impact national sovereignty.



(Reporting by David Stanway; editing by Barbara Lewis)

FILE PHOTO: A man cycles past a chimney giving off emissions in an industrial area of Singapore

Singapore’s GenZero to work with Rwanda on carbon offset projects

<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-1604532787-820x547.jpg" alt="" class="wp-image-506008" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-300x200.jpg 300w, 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, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><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, Sept 19 (Reuters) &#8211; The Ugandan shilling was firmer on Thursday, underpinned by inflows of dollars from commodity exporters and remittances, traders said.



At 0853 GMT, commercial banks quoted the shilling at 3,709/3,719, compared with Wednesday&#8217;s closing rate of 3,715/3,725.



(Reporting by Elias Biryabarema; Editing by George Obulutsa)

Ugandan Economy Following Rate Cut

Ugandan shilling firms; commodity, remittance dollar flows help

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg" alt="" class="wp-image-519304" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller counts Kenya shilling notes inside the 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 19 (Reuters) &#8211; Kenya&#8217;s shilling was unchanged against the U.S. dollar on Thursday, data from the London Stock Exchange Group showed.



At 0748 GMT, the shilling traded at 128.50/129.50 per dollar, the same as Wednesday&#8217;s closing rate.



(Reporting by George Obulutsa; Editing by Alexander Winning)

LYEEWJTJKRPK3GJPCKWFP3EK7E

Kenyan shilling stable, LSEG data shows

<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 18 (Reuters) &#8211; The Ugandan shilling was marginally weaker on Wednesday, undercut by some appetite for hard currency from the manufacturing and energy sector, traders said.



At 1040 GMT commercial banks quoted the shilling at 3,715/3,725, compared to Tuesday&#8217;s close of 3,712/3,722.



(Reporting by Elias Biryabarema; Editing by Hereward Holland)

GettyImages-924883576-1

Ugandan shilling slightly weaker on importer demand

<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 18 (Reuters) &#8211; The Kenyan shilling fell against the dollar on Wednesday, data from the London Stock Exchange Group showed.



At 0747 GMT, the shilling traded at 129.05/125.25, compared with Tuesday&#8217;s closing rate of 128.50/129.50.



(Reporting by George Obulutsa; Editing by Bate Felix)

Kenya’s shilling eases versus dollar – LSEG data

<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 17 (Reuters) &#8211; The Kenyan shilling was unchanged on Tuesday as dollar inflows from the tourism sector balanced demand from the manufacturing sector, traders said.



Commercial banks quoted the shilling at 128.50/129.50 per dollar at 0741 GMT, the same as Tuesday&#8217;s closing rate.



(Reporting by George Obulutsa)

ANCK25OQIFMHTJYACOM5XU5T24

Kenyan shilling holds steady with tourism and manufacturing dollar inflows

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="514" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/4E5JLNLLANP4HIWTHREINONFZQ-820x514.jpg" alt="" class="wp-image-531665" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/4E5JLNLLANP4HIWTHREINONFZQ-820x514.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/4E5JLNLLANP4HIWTHREINONFZQ-300x188.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/4E5JLNLLANP4HIWTHREINONFZQ-144x90.jpg 144w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/4E5JLNLLANP4HIWTHREINONFZQ-768x482.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/4E5JLNLLANP4HIWTHREINONFZQ-1536x963.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/4E5JLNLLANP4HIWTHREINONFZQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A worker carries a bale of imported second-hand clothes past displayed apparel, amid the coronavirus disease (COVID-19) outbreak at the Gikomba market in Nairobi, Kenya September 18, 2020. REUTERS/Thomas Mukoya</figcaption></figure>



NAIROBI, Sept 17 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s finance ministry forecasts a fall in the budget deficit to 3.5% of gross domestic product (GDP) in the 2025/26 fiscal year that starts next July, from 4.3% of GDP in the current fiscal year, a draft budget document showed.



President William Ruto scrapped tax hikes worth more than 346 billion shillings ($2.7 billion) in June in the face of youth-led demonstrations that created the biggest crisis of his two-year-old presidency.



The tax hikes were meant to increase revenue this fiscal year, but the government opted for spending cuts and more borrowing after they were pulled.



The budget deficit is expected to drop further to 3.3% of GDP in the 2026/27 fiscal year, the finance ministry said in the draft budget outlook paper seen by Reuters on Tuesday.



($1 = 128.5000 Kenyan shillings)



(Reporting by George Obulutsa; Editing by Alexander Winning and Ros Russell)

The global aftermarket for second-hand apparel amid COVID-19 crisis

Kenya forecasts budget deficit will fall to 3.5% of GDP next fiscal year

<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 16 (Reuters) &#8211; The Ugandan shilling was stable on Monday, drawing some support from inflows of dollars from remittances, traders said.



At 0920 GMT commercial banks quoted the shilling at 3,710/3,720, the same level as Friday&#8217;s closing rate.



(Reporting by Elias Biryabarema; Editing by George Obulutsa)

Ugandan shilling stable as remittance FX inflows lend support

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/09/6YWINGPVCBJ6LCCI4MJOOGWZ5I-scaled.jpg" alt="" class="wp-image-419784" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/09/6YWINGPVCBJ6LCCI4MJOOGWZ5I-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/6YWINGPVCBJ6LCCI4MJOOGWZ5I-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/6YWINGPVCBJ6LCCI4MJOOGWZ5I-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/6YWINGPVCBJ6LCCI4MJOOGWZ5I-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/6YWINGPVCBJ6LCCI4MJOOGWZ5I-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/6YWINGPVCBJ6LCCI4MJOOGWZ5I-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Kenya&#8217;s President-elect William Ruto speaks after the Supreme Court upheld his win in Nairobi, Kenya September 5, 2022. REUTERS/Monicah Mwangi</figcaption></figure>



NAIROBI, Sept 16 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s auditor general has started to examine the country&#8217;s debt to ascertain the amounts owed to various creditors, Finance Minister John Mbadi told Reuters on Monday.



The East African nation&#8217;s debt stands at 10.5 trillion shillings ($81.71 billion) but an audit of the borrowings was one of the key demands of anti-tax hike protesters that forced the government to abandon a number of planned tax increases in June.



The audit has already started, Mbadi said, but did not provide further details regarding the focus of the investigation or when a report is expected to be ready.



The auditor general is a constitutionally mandated independent office that is funded by the state.



During the height of the protests, President William Ruto appointed a committee to perform the audit. However, several appointees, including the head of the Law Society of Kenya, declined the appointments, saying the task should be carried out by the auditor general.



During his parliamentary vetting for the post, Mbadi had promised to ensure there is more &#8220;debt accountability&#8221; to help the public better understand the issue.



More than 50 people were killed in the protests, which forced President Ruto to abandon the government&#8217;s financing law.



It also led to a series of credit downgrades by the three main global ratings agencies.



A team from the International Monetary Fund is in the country on a fact-finding mission ahead of its board meeting to approve the latest review of Kenya&#8217;s programme and approve a disbursement of $600 million.



($1 = 128.5000 Kenyan shillings)



(Reporting by Duncan Miriri; Editing by Jacqueline Wong)

Kenya’s top court to deliver verdict on disputed presidential election

Kenya begins national debt audit, finance minister says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg" alt="" class="wp-image-519304" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller counts Kenya shilling notes inside the 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 16 (Reuters) &#8211; Kenya&#8217;s shilling was steady on Monday, and was expected to gain ground, bolstered by dollar inflows from tea exporters, traders said.



Commercial banks quoted the shilling at 128.50/129.50 per dollar at 0750 GMT, same as Friday&#8217;s closing rate.



(Reporting by George Obulutsa; Editing by Bate Felix)

Kenya’s shilling stable; tea sector FX inflows to boost

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="530" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-820x530.jpg" alt="" class="wp-image-433145" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-820x530.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-300x194.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-139x90.jpg 139w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-768x497.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-1536x994.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A general view shows the Central Bank of Kenya headquarters building along Haile Selassie Avenue in Nairobi, Kenya November 28, 2018. REUTERS/Njeri Mwangi/</figcaption></figure>



NAIROBI, Sept 16 (Reuters)&nbsp;&#8211;&nbsp;The Kenyan central bank&#8217;s Monetary Policy Committee will hold its rate-setting meeting on Oct. 8, the bank said on Monday.



At its last meeting in August, the bank cut its benchmark lending rate by 25 basis points to 12.75% from 13.00% previously.



(Reporting by George Obulutsa; Editing by Kim Coghill)

XRWAJLZOAVK3DL2J5JMRWBBQ6A

Kenya central bank to hold its next rate-setting meeting on Oct 8

<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-1604532787-820x547.jpg" alt="" class="wp-image-506008" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-300x200.jpg 300w, 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, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><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, Sept 13 (Reuters) &#8211; The Ugandan shilling was broadly stable on Friday with a slight bias on the stronger side, driven by scant appetite for hard currency, traders said.



At 0923 GMT commercial banks quoted the shilling at 3,710/3,720, little-changed from Thursday&#8217;s close of 3,712/3,722.



(Reporting by Elias Biryabarema; Editing by Aaron Ross)

Ugandan shilling stable on scant hard currency 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 13 (Reuters) &#8211; The Kenyan shilling edged lower against the dollar on Friday, according to data from the London Stock Exchange Group (LSEG), though it remained within a stable range seen over the past month.



LSEG data, as of 0854 GMT on Friday, showed the Kenyan shilling trading at 128.50/129.50 to the dollar, a slight dip from Thursday&#8217;s closing rate of 128.30/129.30.



Traders forecast the shilling to remain stabile in the upcoming week, following its strong rally earlier this year. The rally was attributed to easing concerns over a potential default by the East African nation on a $2 billion Eurobond due in June.



(Reporting by Hereward Holland; Editing by Bate Felix)

Kenyan shilling inches lower versus dollar, LSEG data shows

<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/F4TO3YKQWNK6NCNXZJUQ2UEGC4-820x547.jpg" alt="" class="wp-image-423316" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A man walks past the International Monetary Fund (IMF) logo at its headquarters in Washington, U.S., May 10, 2018. REUTERS/Yuri Gripas/</figcaption></figure>



NAIROBI, Sept 13 (Reuters)&nbsp;&#8211;&nbsp;A team of staff from the International Monetary Fund is visiting Kenya on a fact-finding trip, the IMF said late on Thursday, part of efforts to craft a way forward in the wake of deadly protests that scuppered the government&#8217;s planned tax hikes.



President William Ruto abandoned this year&#8217;s finance bill in June, leaving the heavily indebted government with a bigger budget deficit for this financial year, mounting unpaid bills, and a delay in disbursement of IMF funding.



&#8220;This is a fact-finding mission and is part of our ongoing and constructive dialogue with the Kenyan authorities to find a balanced path forward,&#8221; Julie Kozack, the head of communications for the IMF, told a news briefing.



She did not provide more details, saying further updates will be given when the team completes its mission.



Kenya agreed a four-year loan with the IMF in 2021, and signed up for additional lending to support climate change measures in May 2023, taking its total IMF loan access to $3.6 billion.



The IMF requires regular reviews of reforms &#8211; in Kenya&#8217;s case every six months &#8211; before it releases tranches of funding.



Kenya reached a staff level agreement with the IMF in June on the seventh review of its programme, but the protest and ensuing withdrawal of the finance bill put a sign-off by the fund&#8217;s executive board, and subsequent payout, on hold.



Kenyan government officials have previously said they expect the IMF board to consider approving the disbursement of a $600 million tranche later this month, but no date has been set for a meeting to discuss this.



(Reporting by Duncan Miriri; Editing by Karin Strohecker and Christina Fincher)

FILE PHOTO: Man walks past the IMF logo at HQ in Washington

IMF staff in Kenya for fact-finding mission after protests

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg" alt="" class="wp-image-519304" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller counts Kenya shilling notes inside the 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 12 (Reuters) &#8211; The Kenyan shilling was flat on Thursday despite a slight pickup in foreign-currency demand, and traders said it was expected to remain in a tight range.



As of 0857 GMT, LSEG data showed the shilling at 128.50/129.50 to the dollar, the same as Wednesday&#8217;s closing level.



&#8220;We&#8217;re seeing some increased (dollar) demand from oils and corporates, but generally we&#8217;re stuck within a range. &#8230; It&#8217;s likely to stay that way for the next few days,&#8221; one trader said.



(Reporting by Hereward Holland; Editing by Alexander Winning)

Kenyan shilling stable and seen staying that way, traders say

<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 12 (Reuters) &#8211; The Ugandan shilling was little-changed on Thursday, but was under a little pressure from an uptick in appetite for hard currency by firms in the manufacturing and energy sectors, traders said.



At 0840 GMT commercial banks quoted the shilling at 3,715/3,725, compared to Wednesday&#8217;s close of 3,713/3,723.



(Reporting by Elias Biryabarema; Editing by Hereward Holland)

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