A memorandum of understanding between the International Monetary Fund (IMF) and the government released on Monday showed the international lender has set a ceiling for CBK’s lending to the Treasury and banks at KES50 billion by end of December, from June’s level of KES 81.1 billion.

3. Kenya to Chair Key ICT Organisation

Kenya has been elected as the new chairperson of the Commonwealth Telecommunications Organisation for 2012-13 period. The elections took place during the 52nd CTO Council meeting on October 25 in Mauritius.

Also elected were Nigeria as the first Vice Chairperson and Trinidad and Tobago as the second Vice Chairperson. CTO is the oldest and largest Commonwealth organisation engaged in multilateral collaboration in IICT.

4. Global Firms Battle For Nairobi KES 24 Billion Rail Tender

Leading players in global infrastructure projects are jostling for a Sh24 billion Nairobi commuter rail improvement contract.

 5. USF Board to Be Named By December

The governing council for the Universal Service Fund is planned to be in place by the end of this year, Information and Communication minister Samuel Poghisio said yesterday. The minister said selection of the members has been completed and their names will be gazetted soon.

The USF is expected to see marginalised and low income areas get access to telecommunications services, with CCK licensees obligated to contribute 0.5 per cent of their annual turnover.

6. Kenya in Talks with Base, Goldplat on New Local Ownership Rules

Kenya’s Natural Resources Ministry said it has asked mining companies including Base Resources Ltd. (BSE) and Goldplat Plc (GDP) to submit proposals on how they will comply with local ownership rules introduced this month.

On Oct. 12 Kenya gazetted a law stating that all mineral rights should be 35 percent owned by Kenyan citizens. The amount of time that companies will be given to comply with the new legislation will be determined on a case-by- case basis, Ali Mohamed, permanent secretary in the ministry, said in a phone interview on Oct. 29.

7. East Africa Hobbled by Shortage of Skilled Oil Workers

 A shortage of trained oil and gas workers in East Africa is slowing development of new fields following a series of major discoveries and may force governments to relax rules requiring companies to employ local people.

Governments are now investing in programmes to train skilled oil and gas workers, but they are hampered by weak education systems and the high costs involved.

8. US Study Links Climate Change to Violence in East Africa

Hotter than normal temperatures raise the risk of violent conflict in East Africa, while increased rainfall makes such disturbances less likely, according to a new study conducted by the US National Academy of Sciences. For both climate variables, there is about a 30 per cent change in the likelihood of violence occurring in an affected area, the study finds.