Rosemary Muthoni

Oil Crude prices

Oil Prices Rise on Potential OPEC+ Supply Cuts; BP Shuts US Refinery Units

SINGAPORE: Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a U.S. refinery. Brent crude rose 45 cents, or 0.4per cent, to US$101.67 a barrel by 0630 GMT. U.S. West Texas Intermediate crude was up 32 cents, …

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Kenya to supply Uganda with power after floods shut the key plant.

Uganda will make an emergency purchase of power from neighboring Kenya to stabilize supply after floods forced the shutdown of its 183-megawatt Isimba plant last week. Energy Minister Ruth Nankabirwa Ssentamu said “Uganda will purchase 60 megawatts from Kenya and will restart an idled 50-megawatt thermal plant in Kampala. An additional 20 megawatts will be …

Kenya to supply Uganda with power after floods shut the key plant. Read More »

Kenya

Loan rates rise to 16% after interest controls were lifted.

In the second quarter of the year, more than half of commercial banks raised their lending rates to individuals and businesses, indicating an early impact of the Central Bank of Kenya’s(CBK) accelerated approvals of risk-based lending plans. According to the most recent bank loan and overdraft rate data published by the regulator, some lenders charged as …

Loan rates rise to 16% after interest controls were lifted. Read More »