Kenya to buy Iran oil despite sanctions

(Reuters) Kenya has agreed to import four million tons of Iranian crude oil per year, a senior Kenyan energy official said on Monday.

Energy permanent Patrick Wanyoike, said that two government signed the memorandum of understanding on the oil last month. However, the permanent secretary did not disclose how many years the agreement covered.

Kenya has taken to deal in Iranian oil in spite of the European Union recently approval of an embargo on Iranian oil, which is to come into operation this month. The United States Congress is also expected to increase sanctions against Iran this July.

In other news: Indian carmaker Mahindra and Mahindra Limited has re-entered the Kenyan market through a Sh 500 million partnership with Simba Corporation after exiting over ten years ago.

Simba Colt Motors, a division of Simba Corporation will sell its range of utility vehicles and pick-ups in the Kenyan market.

World Bank ranks Kenya third on policy performance

World Bank has ranked Kenya as the third best policy performer out of 16 African countries on improvement of policies and institutions vital for development. Kenya was behind top performers Cape Verde (4.0) and Ghana after scoring 3.8 out of a possible 6.0 points in the 2011 assessment.

The ranking, which is part of the annual World Bank County Policy and Institutional Assessment (CPIA), is based on structural policies, economic management, policies of social inclusion and equity and public sector management and institutions.  

The major improvements were as a result of Kenya's debt management, regulatory, legal and infrastructural framework to support financial services. 

Mwelu to carry the Olympics torch

Award winning photographer Julius Mwelu Manyasi has been nominated to carry the Olympics torch on Thursday as it passes through Norwich.

He will now join the other inspirational Kenyan Olympic torchbearers who include Legendary Paul Tergat, Nakumatts Holding MD Atul Shah, Kenya National of Women with AIDS director Asunta Wagura, and 2010 CNN Heroes award nominee and Anti-Jigger Campaigner Cecilia Mwangi.

Born and bred in the slums of Mathare, Mwelu is founder and artistic director of the Mwelu Foundation. The foundation works to help youth in the slum realize their potential through photography and film production.

He currently works as a photographer for the UN humanitarian news agency IRIN based in Nairobi.

image credits: mwelu foundation

Nairobi Securities Exchange World’s Third best performer

Nairobi Securities Exchange (NSE) has been ranked as 2012 third best performers after being the worst performer in Sub-Saharan Africa last year. The Nairobi bourse, which is Africa’s fourth largest stock exchange in terms of trading volumes, was ranked behind the Venezuela and Egypt stock market.  

According to data compiled by Bloomberg – a global markets data service, the Nairobi Stock Exchange; 

All-Share Index (NSE ASI) has surged 24 per cent in 2012, the most after Venezuelan and Egyptian equities and pairing 34 per cent losses in 2011.

Read on http://www.businessweek.com/news/2012-06-27/kenya-stocks-lure-templeton-to-world-s-third-biggest-rally

Baaru and Otero triumph in Lewa

2012 Safaricom Lewa Marathon in the Lewa Wildlife Conservancy

Two debutants; Philemon Baaru and Gladys Otero Kerubo won this year’s 13th edition of Safaricom Lewa marathon. Baaru recorded his first win in 2:19:52 followed by Julius Ndoria while Daniel Mbogo came in third.

Gladys clocked 2:48:01 to emerge the winner in the women’s 42km marathon ahead of Beatrice Seronei and Monica Njeru who finished second and third respectively.

The other winners were:

21km Men’s half marathon

1.        James Muriithi 1:5:00
2.        Erick Ogato 1:06:19
3.        Stephen Ogaro 1:06:19

21km Women’s half marathon

1.        Catherine Kagweria 1:18:43
2.        Lekapana Peresi 1:18:59
3.        Miriam Naktari 1:22:52

5km boys

1.        Michael Korua 21:15
2.        Pasanjo Kitonga 21:31
3.        Kachumba Nangunye 21:32

5km girls

1.        Sissy Kendi 23:33
2.        Idah Kathambi 23:38
3.        Agnes Parkusaa 23:41

Safaricom in collaboration with the Tusk Trust organize Lewa marathon and has to date raised about $3.0 million. The amount has been used to finance education, community development, conservation programmes and health care in north Kenya.

Kenyans shine in Benin

Kenya has bagged five Gold medals in the ongoing 2012 African Senior athletics championships in Porto Novo, Benin.

In the 3000m steeplechase, it was an all East African podium finish with Abel Mutai winning the men’s 3000m steeplechase in 8:16.05, followed by fellow countryman Wilson KipKemboi  Maraba while Benjamin Kiplagat from Uganda finishing third.

Grace Wanjiru won the women’s 20km walking race while the men’s walking race went to compatriot David Kimutai.

In the women’s’ 1500m, it was Morocco’s Rabab Arafi taking title leaving Kenya’s Mary Kuria and compatriot Margaret Wangare to settle for second and third place respectively.

In the Men’s 400m, Vincent Kiilu Mumo could only manage to finish 5^th with Botswana’s Isaac Makwala winning in 42:25. 

Kenya opened its campaign on Thursday with Kenneth Kipkemoi leading a clean sweep in the men’s 10000m finals in Benin. Kipkemoi finished in a record time of 27:19.74 followed by Mark Kiptoo and Lewis Mosoti in 27:20.77 and 27:22.54 respectively.

In the women’s 5000m, Gladys Cherono bagged gold in 15:40.04 followed by compatriot Veronica Nyaruai and Ethiopia’s Teklezgi Gebreslase who came third.