Voting for the US presidential election is drawing to a close in a historic race pitting front runner candidates Donald Trump against Hillary Clinton . Security Advisory Services consultant Andrew J. Franklin explains the electoral process and the implications of the outcome on the African continent.
President Uhuru Kenyatta yesterday ignored forceful advice from Finance minister Henry Rotich and Central Bank Governor Patrick Njoroge and signed the mass-appeal law capping interest rates. He called banks insensitive.
Banks will record major profit declines and stock value depreciations this year should rates be capped or significantly cut because interest income accounts for the bulk of their revenues, analysts project.
To those who have witnessed the past upheavals that pass for Kenyan politics, last week’s events of politicians announcing the severing of links with sponsoring parties without actually doing so and claiming to have resigned from their positions without actually doing it, should not be difficult to read.