the EastAfrican wrote:Kenya’s Treasury has deleted from its revised budget estimates a provision for Ksh5 billion ($51 million) it would have made from selling its rights in National Bank of Kenya and Mumias Sugar Company, a move that could delay plans by the two firms to raise additional capital.
The government had initially opted not to take up additional shares in the bank and sugar miller, and factored the Ksh5 billion ($51 million) it would have made as a result of the decision into financing part of the budget deficit estimated at Ksh566.95 billion ($5.78 billion) in the 2015/2016 fiscal year.
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