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Kenyan money market liquidity rises on government payments

NAIROBI (Xinhua) -- Liquidity in Kenya’s money market improved this week after government paid various agencies for services rendered.

The boost in liquidity helped to push down trading between banks and thus the rate at which they borrow from each other money.

“The interbank market liquidity conditions improved supported by government payments. The average volumes traded declined to 90 million U.S. dollars from 114 million dollars the previous week,” said the Central Bank on Saturday.

The apex bank further said banks traded less because they had attained the average monthly cash reserve requirements threshold.

The weighted average interbank rate declined to 6.99 percent from 9 percent in the previous week.


Kenya warns bus firms against aiding aliens from Somalia

GARISSA (Xinhua) -- The Kenyan government has warned commuter bus companies and other transporters against aiding aliens from neighboring Somalia to make their way to Kenyan capital, Nairobi.

Northeastern Regional Commissioner Mohamed Birik told journalists in Garissa on Sunday that the government is closely monitoring the bus companies and the transporters with a view of taking stern measures against them.

Birik said it has been established that bus companies and transporters in the region play a significant role in the matters of transit of aliens.

“We want to ask all the bus companies not to engage in this illicit business of transporting aliens in this region. We know and understand that some of these aliens are indeed possibly members of the al-Shabab terror group,” Birik said.

The administrator said to curb the vice, the government will increase and enhance the road blocks and in particularly the Modigar and Tana Bridge.

Cases of human smuggling have been on the rise in the region with hundreds of young men from neighboring countries finding their way into South Africa through Kenya in search of employment.

The authorities said several aliens who find their way into the Kenyan police cells have tripled in the past few weeks over stretching the capacity of the cells in the East African nation. 


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