Balance of Power: Kenya Shocker Could Reshape Political Landscape
Balance of Power: Kenya Shocker Could Reshape Political Landscape
(Bloomberg) -- Who said democracy in Africa is dead?
In a shock move this morning, Kenya's top court annulled elections last month that gave incumbent President Uhuru Kenyatta a second-term. Its decision to support the opposition's claim of ballot-rigging means a new vote must be held in East Africa's biggest economy in two months.
The ruling -- unprecedented in Africa -- sparked dancing in the streets in the capital, Nairobi, and in Kisumu, stronghold of opposition presidential candidate Raila Odinga.
It may be less welcomed by investors in Kenya, the world’s largest shipper of black tea and a regional hub for companies including Google and Coca Cola. The shilling, bonds and the stock market immediately dropped.
With violence having overshadowed five of the seven elections held since the advent of multiparty democracy in 1991, the ability to stage a peaceful (and credible) vote will be as keenly watched as the outcome.
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To contact the editor responsible for this story: Michael Winfrey at mwinfrey@bloomberg.net, Caroline Alexander