Johannesburg — Kenya's biggest mobile operator wants to borrow between up to R 1.2 billion. It has picked Barclays Capital, Absa Bank and CFC Stanbic to arrange the issue.

Safaricom, which is partially held by Britain's Vodafone has had to contend with falling revenue per user as it has entered a price war with rivals such as France's Orange and Kuwait's Zain.

The Kenya Electricity Generating Company plans to raise R1.5 billion shillings in a bond whose first tranche will be sold this year. Funds raised will be used to set up thermal generators. KenGen is the country's biggest electricity producer. Most of its power is derived from hydrodams and a small percentage from geothermal wells. The rest is made by fuel-run turbines.

Barclays Bank Kenya has already launched a 5 billion shillings seven-year bond to support long-term lending.

Investors gave it 3 billion shillings in two tranches issued in June 2008 and October 2007.