Tuesday, 9 April 2013

Uhuru Kenyatta Sworn-in as Kenya’s Fourth President

Uhuru Kenyatta, son of Kenya’s first president, Jomo Kenyatta, pledged allegiance to the country as he was sworn in as the East African nation’s fourth president.

Kenyatta told thousands of people gathered at a stadium in the capital, Nairobi, that he’ll be “faithful and bear true allegiance to the republic of Kenya.” William Ruto, 46, was sworn in as deputy president.

The 51-year-old president-elect takes office while having to defend himself against charges of crimes against humanity for allegedly fueling ethnic violence that marred elections in 2007. He is scheduled to face trial at International Criminal Court in The Hague in July, while Ruto will face similar charges in May.

Kenyatta took 50.07 percent of ballots cast on March 4, enough to avoid a runoff with outgoing Prime Minister Raila Odinga. The president takes over from Mwai Kibaki who was first elected head of state in December 2002 and is retiring after his second five-year term.

The shilling, sub-Saharan Africa’s fifth-best performing currency this year, has strengthened 1.5 percent since the election, while the Nairobi Securities Exchange All-Share Index, the world’s fourth-best performer this year, has risen 13 percent, according to data compiled by Bloomberg.

Source: Bloomberg

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