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Vol 49 No 6

Published 14th March 2008


Kenya

Second honeymoon for the money men

Following the political deal this month, Kenyans are hoping for another deal to restart the economy. Conservative estimates put the cost of the post-election crisis at around US$1.5 billion and the loss of more than 1,000 lives. Yet the effects of more than 300,000 people chased from their homes and the disruptions to subsistence and export crop farming will hit the economy for months to come

This month, Kenya's economy faces it first big post-election test when the successful mobile telephone operator Safaricom lists on the Nairobi Stock Exchange (NSE). According to the ever bullish Finance Minister Amos Kimunya, the initial public offering (IPO) for Safaricom (valued at around US$3.5 billion) will be launched on 26 March and eager Kenyan investors will queue in their thousands to buy shares in one of Africa's most successful companies.

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