- Market report: Storm of disappointing developments keep investors cautious
- AFSIC – Investing in Africa – more than just a conference
- AFSIC interview with Chris Chijiutomi, MD & Head of Africa, British International Investment
- 18th Edition Connected Banking Summit – Innovation & Excellence Awards - West Africa 2024.
- AFSIC - 5 Weeks to Go - Join our Africa Country Investment Summits
Kenya President Vows Unity as He Begins Disputed Second Term
NAIROBI (Capital Markets in Africa) – Kenyan President Uhuru Kenyatta vowed to unite his country as he was sworn in for a second term amid opposition protests, capping months of electoral uncertainty that unnerved investors in East Africa’s biggest economy.
Opposition leader Raila Odinga, who has vowed not to recognize Kenyatta’s victory in an October election rerun, boycotted Tuesday’s ceremony in the capital, Nairobi and said he’ll be sworn-in as Kenya’s leader by supporters next month. Police fired teargas to disperse his supporters as he addressed a rally in the east of the city shortly after Kenyatta spoke.
Kenyatta faces the challenge of bringing together a nation so politically divided that some are advocating independence for areas that support the opposition. Kenya, the world’s largest shipper of black tea and a regional hub for companies including Alphabet Inc. and Coca-Cola Co., also needs to reinvigorate economic growth that’s forecast to slow to 5 percent from 5.8 percent last year and cut unemployment affecting more than a third of the workforce.
“I undertake today to be the custodian of the dreams of all Kenyans and to be the keeper of the aspirations of those who voted for me and those who did not,” Kenyatta, 56, said. “I will be president of all. I will devote my time and energy to build bridges to unite and bring prosperity to all Kenyans.”
‘Turbulent’ Times
Kenyatta may face a “turbulent” term with the opposition likely to ratchet up their claims he lacks legitimacy and increase demands for the secession of western and coastal regions, said Maina Kiai, the co-director of Inform Action, a Nairobi-based human-rights organization.
The swearing-in ceremony, attended by foreign leaders including Rwandan President Paul Kagame and Ethiopian Prime Minister Hailemariam Desalegn, comes after the Supreme Court upheld Kenyatta’s victory in the Oct. 26 rerun. The court had set a precedent for Africa by overturning the president’s initial win in an Aug. 8 vote, saying electoral authorities failed to disprove the opposition’s claim of rigging.
‘Sham’ Election
Odinga has denounced Kenyatta’s victory as “a sham.” He withdrew from the race and urged a boycott after the Supreme Court court rejected petitions challenging the validity of the rerun, in which Kenyatta got 98 percent of the ballots.
The National Super Alliance has vowed to convene a so-called People’s Assembly next month, part of a three-pronged strategy to demand fresh elections. It’s also embarked on a civic action campaign and urged supporters to boycott products and services offered by companies including Safaricom Ltd., East Africa’s biggest mobile operator, and Brookside Dairies Ltd., which is part-owned by the Kenyatta family.
“However serious our grievances may be, the law must reign supreme,” he said. “The law should be the refuge for every Kenyan and none of us should break outside the law or constitutional order whatever our grievances or protestations.”
Source: Bloomberg Business News