Safaricom Ltd.’s purchase of Essar Telecom Kenya Ltd.’s assets may help address demands that the company improve its network before being granted a new license, said analysts including Evelyne Wanjiku at Genghis Capital Ltd.
Tanzania’s energy regulator said it’s considering expressions of interest by two companies to each build a 200-megawatt gas-fired power plant that will help reduce an energy deficit in the East African nation.
Kenyan President Uhuru Kenyatta is struggling to meet economic growth targets a year after his election victory as he focuses on fighting charges from the International Criminal Court that link him to violence that left more than 1,100 people dead after a 2007 vote.
Kenya Commercial Bank Ltd., the East African nation’s biggest lender by market value, said full-year profit grew 18 percent after it reduced interest expenses by a third and regional operations contributed more.
Co-operative Bank of Kenya Ltd., the nation’s fifth-biggest lender by market value, climbed to the highest level in three weeks on bets that income from loans improved last year and operations were more efficient.