Here's what you need to know about emerging markets this week, from the WSJ
News and analysis on the frontier markets
Kenya’s supreme court on Friday annulled the country’s recent presidential election and called for a new poll to be held within 60 days. In a surprise ruling that plunged one of Africa’s top economies into a new period of uncertainty the bench ruled in favor of the petition filed by opposition candidate Raila Odinga, who claimed the electoral commission’s IT system had been hacked to manipulate the results. Kenya’s election commission had declared incumbent President Uhuru Kenyatta the winner of the poll, which was held peacefully and lauded by international observers. Kevin Daly, a portfolio manager at Aberdeen Standard Investments, told the Journal that the decision could raise tensions in Kenya: “The ruling in Kenya is definitely a victory for the independence of the judiciary but it does strike a match pretty close to the tinderbox,” he noted.
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