Money Markets

Peaceful vote lifts investor confidence in the economy

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An IIEC official pours out cast ballot papers during a counting exercise at Railways Junior Club Polling Station in Eldoret North Constituency, August 4, 2010. JARED NYATAYA | NATION

An IIEC official pours out cast ballot papers during a counting exercise at Railways Junior Club Polling Station in Eldoret North Constituency, August 4, 2010. JARED NYATAYA | NATION 

By JIM ONYANGO and MWAURA KIMANI  (email the author)
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Posted  Thursday, August 5  2010 at  00:00

“To thrive, businesses need a situation where the judicial systems are effectively working and the credit environment is certain and political risks are minimal,” said Mr Ayeyemi.

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Kenya’s new constitution would also introduce a second chamber of parliament — 47 counties under a decentralised administration run by elected grassroots leaders — and a judiciary where judges are not appointed at the whims of the head of state.

Proponents of a new constitution argue that for the first time it introduces a sensible approach to land reform by stating that land acquired illegally can be repossessed.

But those against it say this will increase ethnic divisions and trigger chaos.

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