Folks,

This is one of the best news I have heard from Kenya over a long long period of time…Yes, my heart will rejoice, ……..Blessed are the poor, for the Kingdom of God is theirs……!!!

Cheers people…….God loves you all the times ……!……..God will never forsake you or turn his back against you……..He hears and answers your Prayers and cries……..

Lets keep the good fight with Faith and hope high for fair deal for common good of all….. all will be well in shared benefit with earned trust…….very important for a country to prosper……

Security was long overdue…May God continue to break the york and burden of sufferings and Bless you more in abudantly…….!

Once again, Cheers…..!!!

Judy Miriga
Diaspora Spokesperson
Executive Director
Confederation Council Foundation for Africa Inc.,
USA
http://socioeconomicforum50.blogspot.com

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Kenya: Country Sends Security Team to Migingo
Elisha Otieno
15 August 2011

Kenya finally moved on Monday to co-manage the disputed Migingo Island in Lake Victoria.

The country sent a team of about 40 armed security officers to guard the island alongside the Ugandan marine police.

This is the first time Kenya has taken such action since the ownership row broke out in 2004.

Kenya’s national flag will also fly on the island for the first time in the history of Migingo.

The move was part of a resolution by a joint ministerial committee that comprised Kenyan and Ugandan ministers.

The Kenyan team was represented by Internal Security Minister George Saitoti and Lands Minister James Orengo, among others, at a meeting held in Nairobi recently.

The team agreed to complete the stalled survey of the island in a bid to locate its boundary but in the meantime security forces from both countries are guarding the fish-rich island.

Nyatike district commissioner Alan Machari, who received the Kenyan officers en route to Migingo, said they had finalised arrangements for their accommodation on the rocky island.

“The officers drawn from both the regular and Administration police units have been trained on marine operations and are expected to stay there until the ownership row is sorted out by the higher authorities,” he said.

Although Uganda has only about 30 uniformed and plainclothes officers on the island who work in shifts, the Kenyan team is bigger in terms of numbers and equipment.

“As is the tradition, our flag will be hoisted in the camp where the officers will be staying and they will work with the Ugandan security forces,” the DC added.

Nyatike MP Edick Anyanga, who has been vocal on the need to send Kenyan officers, said the government had finally responded to the cries of Kenyan fishermen and traders who have been facing harassment from the neighbouring country’s security officers.

“What now remains is work by the survey team to resolve the row once and for all,” he said.

Business Daily (Nairobi)

Kenya: Mining Sector Marks a Year Without Chief
Muna Wahome
16 August 2011

Kenya has been issuing major mining concessions even as it marks a year without a substantive commissioner of mines and geology tomorrow.

Dr Bernard Rop was suspended over the controversy surrounding the push for mining licensing by Criss Cross Mining Ltd. He confirmed his sacking and plans to go to court over the matter.

At the same time, a cloud hangs over the acting commissioner of mines, Mr Moses Masibo, because the Kenya Anti-Corruption Commission (Kacc) has recommended he be charged with abuse of office together with the Environment PS, Mr Ali Mohammed.

The file on the matter was last month returned to the Kenya Anti-Corruption Authority (Kacc) for further investigation.

Among the recently issued permits was a commercial licence for Kilimapesa in Transmara District said to have the potential of yielding gold worth billions of shillings. Mr Masibo told the Business Daily the firm would soon bring in machinery for the job. Also in the works is mining of titanium in Kwale after the study was concluded.

Trouble at the ministry started late last year culminating in suspension of Dr Rop and subsequent licensing of Criss Cross’ application for prospecting in iron ore and manganese in Mutomo, Samburu and Kilifi.

The three applications were approved on September 3, 2010 but have since been revoked –after what Mr Masibo said was consultation with Kacc.

“We have been co-operating with Kacc and their intervention indeed came within the 30 days window granted for public scrutiny,” said Mr Masibo.

He has been acting since August 17, 2010.

Criss Cross had sought approvals despite what Dr Rop said at the time was information that its two directors were initially part of Merchant Mining Ltd that applied for same areas. The latter used a city law firm to protest against the application, leading to the suspension by Dr Rop.

Special permits

A meeting of the Prospecting and Mining Licensing Committee went ahead and included the firm in the discussion on whether to license or not. The licences included an exclusive prospecting licence and two special permits.

Kacc in its second quarter report on the allegations of “award of irregular concession/exploration licence to an unqualified company” cleared Justice PS Amina Mohamed–recently appointed deputy executive director of UNEP–of allegations of influencing approval of licensing.

Business Daily (Nairobi)

Kenya: Nation Eyes Billions in Gold Revenue From Narok Mines
Moses Michira
12 August 2011

Kenya will issue its first ever gold mining lease in October, opening the way for commercial exploitation of the precious metal whose price has peaked in recent weeks after turbulence rocked global financial markets.

Goldplat, one of the world’s biggest gold companies – which is also listed at the London Stock Exchange – will be awarded the lease to exploit the large gold deposits in the Lolgorien area of Narok County.

Public interrogation

The Commissioner of Mines, Mr Moses Masibo, told the Business Daily that the lease will be issued upon the expiry of the 90-days allowed for public interrogation. A notice of the planned issuance of the licence was published in June 2011.

“We will issue Goldplat a special mining lease in October as prescribed in the law to allow for commercial exploitation of gold at its Kilimapesa site to begin,” said Mr Masibo.

The three-month window is for the public to raise any objections to the firm’s activities in the specified location. “I do not anticipate any objection,” Mr Masibo said. “It is an exciting time for our economy to gain from the record prices.”

The value of gold from the Kilimapesa mines could top Sh60 billion a year in foreign currency at the prevailing prices or more if the surge in gold prices continues, placing the metal among the top revenue earners for Kenya.

The government will earn four per cent of the value of each export consignment in the form of royalties, in addition to corporate tax that is tied to the profits that Goldplat will make.

“The department will value each export consignment and grant an export licence, four per cent of which will be paid to the government as royalties,” said Mr Masibo. The law however leaves room for the Cabinet to change the applicable rate.

Last month, Goldplat chief executive Demetri Manolis told investors that the firm, which has been prospecting in Kenya for more than a decade, was headed for its first sale of the precious commodity.

“Completion of the elution plant at the Kilimapesa project in Kenya means we should be in a position to sell first product pretty soon – a milestone achievement,” said Mr Manolis. “With the Title Deed now issued, I am also pleased to report that we are now a short time away from being issued with the final Mining Lease that should trigger commencement of full production, with an initial target of 5,000oz (about 140 kg) of gold per annum.”

Issuance of the mining lease is expected to open Kenya to more applications, especially at this time when demand for gold is at an historic high.

Ali Mohammed, the Environment and Mineral Resources permanent secretary, said that quarterly reports submitted by prospecting firms point to even bigger gold deposits in Migori County compared to the Lolgorien area where the Kilimapesa project is situated.

He said the ministry was considering other applicants such as Red Rock Resources based at Macalder, Migori, for a commercial mining lease in the area that is largely dominated by artisanal miners.

“These deposits should enable us to export between two and 10 tonnes of gold every month after granting two commercial mining leases this year,” said Mr Mohammed, noting that acquisition of land titles was the most predominant issue for the applicants.

If Goldplat starts mining immediately, Kenya could benefit from the current windfall in the gold market where prices stand at Sh6 million a kilogramme.

The gold firm has brought in equipment to allow for the end-to-end processing of the precious metal in compliance with Kenya’s demands that the mineral be refined locally.

“My ministry is helping with the clearance of Goldplat’s refining equipment at the port of Mombasa,” Mr Mohammed said. The machinery should enable Kenya to export refined gold.

The ministry’s demands that only fully refined gold be exported was informed by the need to create employment locally and make valuation easy.

The deal could come in handy for the local currency, which has been under pressure in recent months depreciating to record lows of Sh95 against the dollar.

Last year, Kenya earned Sh6.2 billion from the sale of two tonnes of gold, three times higher than the year before, an indication of the how fast the commodity is gaining prominence as an export commodity.

Sharp increases in the price of gold since last year have heightened exploration activities in areas such Turkana, Samburu and Kitui, according to Mr Masibo.

The Environment Ministry is also preparing to issue commercial exploitation licences to firms prospecting for other minerals such as iron ore and manganese.

Gold traded in the global market on Thursday at a record Sh6 million per kilogramme ($1800 an ounce), more than 60 per cent and about 30 per cent higher than January 2010 and January 2011 respectively.

Concern over the Eurozone’s debt crisis coupled with Monday’s downgrade of the US credit ratings by Standard and Poors have spurred a rally in gold valuations as investors take off to safer instruments.

Commercial exploitation of gold offers Kenya a much needed fresh foreign exchange stream as depressed consumption of traditional exports threatens the country’s revenue base.

Mr Masibo said that the draft Mining Bill has outlined the revenue sharing arrangement between the national and county governments on an 80:20 basis to allow for the economy-wide reach of the proceeds.

Bigger concerns that cloud the prospects lie on how accurately Goldpalt, or any other lessee, would report their production to enable the government value the royalties.

Kenya to Award Mining Permit to Goldplat in October, Business Daily Says

By Eric Ombok – Aug 11, 2011 11:55 PM ET

Kenya plans to award its first ever gold-mining license in October to Goldplat Plc (GDP), Business Daily reported, citing Commissioner of Mines Moses Masibo.

The permit will allow the London-listed company to exploit gold deposits estimated to be worth 60 billion shillings ($642 million) a year in the Kilimapesa area of Narok County, south of the capital, Nairobi, the newspaper said. Kenya’s government will earn 4 percent of the value of gold exported, it said.

The license is being awarded in October to allow a 90-day period for members of the public to lodge any objections, the newspaper said.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net

Kenya Invites Stanbic, Old Mutual to Help Boost Returns From Pension Fund

By Sarah McGregor – Aug 11, 2011 9:49 AM ET

Kenya’s National Social Security Fund, which has 110 billion shillings ($1.2 billion) in assets, said it signed up Stanbic Investment Management, Old Mutual Plc and four other companies to boost returns on investments.

The state-run pension company has also hired Genesis Investment Management, Co-op Trust Investment Services, PineBridge Investments and ICEA Asset Management, according to a statement handed to reporters today in the capital, Nairobi. Transactions will be handled by two custodians, Kenya Commercial Bank Ltd. (KNCB) and Standard Chartered Bank Ltd., it said.

The move will “guarantee the best return on investment,” Alex Kazongo, the fund’s managing trustee, told reporters today in Nairobi, saying the fund is aiming for profits that are 4 percentage points above the annual rate of inflation, which was 15.5 percent in July.

The managers have control over investments in stocks and government securities, which currently represent about two- thirds of the fund’s investments or as much as 65 billion shillings, Chairman Adan Mohamed said at the same event.

Real estate assets make up the balance of the fund’s investments and it will continue to manage those internally, Mohamed said.

Membership of the fund is compulsory for all employees in East Africa’s largest economy. The contribution for each member is 400 shillings a month, of which employers pay half. There were 2.1 million salaried workers in Kenya as of the end of last year, according to the country’s statistics office.

Kenya’s main stock index dropped 19 percent this year amid rising inflation that pushed investors toward fixed-income securities with better returns. Stocks are still a valuable, long-term investment for the fund, which is the biggest investor in the Nairobi Stock Exchange, Kazongo said.

“Ours is a long-term investment, so we’re not worried about the short term because we plan to be here for the next 1,000 years or more,” Kazongo said in an interview.

To contact the reporter on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net.