Kenyan President Uhuru Kenyatta said cuts to the government wage bill and other austerity measures will free up funds for projects that will spur economic growth such as building a railway and more roads.
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.
The Nairobi Securities Exchange plans to start trading derivatives and real estate investment funds this year as sub-Saharan Africa’s third-biggest bourse targets a fourfold rise in its market capitalization by 2023.
Kenyan central bank Governor Njuguna Ndung’u may be suspended should he be charged with abuse of office and will be unable to resume his post until the case is settled, the Ethics and Anti-Corruption Commission said.
The prosecution at the International Criminal Court accused the Kenyan government of withholding evidence that could help convict the East African nation’s president on crimes against humanity charges.
Kenya, East Africa’s largest economy, requested an “insurance-type” credit facility from the International Monetary Fund to expand its buffers against shocks in the vulnerable economy, President Uhuru Kenyatta said.