A Sigh of Relief?
The Kenyan Wall Street
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Hello there ????
It's Brian from The Kenyan Wall Street.
In today's edition of ‘The Daily Brief’, Kenya's credit health, according to Fitch, remains stable but risks persist…
Moreover, the state is under fire over costly electricity connections – particularly in villages and poor regions of Kenya.?
This and more stories in this edition…
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Fitch Ratings : How is Kenya's Credit outlook??
A week ago, the African Union (AU) was unhappy with Moody's credit-rating on Kenya. The agency revised Kenya’s outlook to “positive” from “negative” and the continental body reported that last year's rating could have been erroneous. And now the second rating agency has released its perceptions on Kenya's credit health.? Global credit ratings agency Fitch Ratings has maintained Kenya’s sovereign rating at “B-” with a Stable Outlook, citing solid growth prospects and a stronger monetary policy. And as Zainab Hafsah explains in this article, outlook remains bleak due to high debt costs, weak governance and a large informal sector that limits government revenue collection.?
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Discrimination in Electricity Connections?
Potential power customers have raised issues with KPLC connection charges, which are sometimes billed at over KSh 2 million, especially where they are located far from existing infrastructure such as transformers. But the government denies such a reality, saying that the Rural Electrification and Renewable Energy Corporation (REREC) and Kenya Power (KPLC) do not discriminate against anyone who needs power connections. The cost, according to Energy CS, Opiyo Wandayi is determined by distance from the existing transformer. Fred Obura explains more in this article…
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