These songs take me back to good days, and bad days alike. Enjoy!
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20:12
Songs I grew up to
» Learning to play
These songs take me back to good days, and bad days alike. Enjoy!
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16:42
Taking stock; look out for..
» Kenya Imagine In the first of a regular continuous look at the Nairobi Exchange, we review a few counters we think will see increased activity in the next week.
Read as kenyaImagine's GoldStandard reviews the following publicly traded companies:East Africa Cables, Kengen, Jubilee, Access Kenya, Sasini, Mumias Sugar Company, KCB, KPLC, Housing Finance, National Bank and ICDCI.
Read all about them here! -
Kenyan Newspaper Entrepreneur in the USA
» Kenya Imagine See how an Atlanta, GA (USA) based Kenyan entrepreneur took his business from a small two page newsletter into the largest newspaper serving Kenyans living in the States.
You may visit Kim Media Group's Kenya Empowerment News and see for self why it has risen to the top of America's Kenyan news!
Benin Mwangi interviews founder and president of Kim Media Group, Wilson Kimani Wanguhu.
Read more.
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12:41 It’s only Money That’s Stopping Me…
» Kenyanentrepreneur.com Last night I was on the phone with a customer service rep from Direct-tv. I was trying to order the international sports channel, Setanta. After my call went through, I was connected to some African-American rep who was clearly based in the south (based on the accent I detected). Anyway, the following is [...] -
12:36
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» Kenyanentrepreneur.com -
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» Kenyanentrepreneur.com
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10:17
THE MAKERERE REPORT
» assidous The commission that was appointed by Museveni to look at the fees hike at Makerere and other universities in Uganda is now out.
The commission unearthed corruption, embezzlement of funds, bad governance as well as commercilsation of education at East Africa’s premier education faculty now aged 85.
The 35pg dossier also cites lack of professionals to an extent that some faculties are managed by assistant lecturers instead of full professors. The report also adds that the accounting processes used are archaic creating loopholes for embezzlement. There was also a difference noted in the budget and the report figures that couldn’t be accounted for.
The institution also failed to account for all the monies generated as income to the university and also failed to explain the lack of professionals as well as the internal strife in the leadership ranks.
There is an urgent need to address the problems facing this institution and Museveni’s act is a step in the right direction.
Makerere has an alumnus that reads like who is who of East African leadership to world academia that should all rally around the university and support this sleeping giant.
It would be a terrible thing to waste.
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7:00
Atrocious Ads, SoFa King and Confounding Coincidences....
» My part of the world....... I was just reading Nation and Standard online and I realised that both sites have ad sense adverts on them. I find it strange that multi million dollar making media bodies should have such adverts on their site, there's no problem with the sites having ads on them but I though that they would co-ordinate and seek out advertisers themselves. Besides which those ads make the sites look cheap. Anyway it seems to work for them so I better get used to looking at those Google ads.
After reading M's latest post and the pic that came with it, I remembered this great skit on SNL! The dude who cracks me up is the son in the middle who looks like he is performing a Kamba traditional dance ( in true Acolyte style dissing Kenyan tribes one after the other!) It's Sofa King funny!
In other unrelated news, I was talking to a pal of my sister's who really likes white dudes and has been trying to hook up with one but things havent gone well whenever she tries. She was talking to my sis and telling her how she would love to be in Europe and how the men there treat black women better than the ones here, on the other hand I was talking to one of my pals in Europe who says she has developed a liking for the odieros here from when she was on vaction here last time. This whole situation just shows me that no matter the country or continent men/women are the same, the grass always seems greener on the other side till you step on it!
Oh before I forget! I do remember in my 7 things post I did mention why I dont get ecstatic when I meet other Kenyans. Let me give you a small illustration of how small the world is and how Kenyans are all over. The other day at work I met this chic I used to be in University with and her small sister who was a year behind us in Uni is in town too. Here is where it gets interesting, my sister had told me about how they got this new boss whom they all dislike (no not because she is Kenyan) and how her boss told her that she was in my alma mater (smart word of the day). Yes you guessed it, my pal's sis is my sister's boss! Small World isn't it?
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3:03
Eye on media
» bankelele There's a new magazine on the streets called ET - or Expression Today edited by David Makali that takes alook at happenings in the media industry.
- Nation: A look back at W. Kiboro’s tenure, the bungled staff retrenchment program that led to internet e-mail & rumours, how NMG got TV licence from a reluctant President Moi, challenges faced in launching the business daily and an indepth look at the problems they have faced with staff in Tanzania and a TV licence in Uganda
- Standard How KTN has slipped behind NTV in latest TV
rankings (from Steadman), why Katherine Kasavuli, Swaleh Mdoe, and Louis Otieno left and the staff revolt that followed, rumor of interest from Transcentury or foreign investors, a quote by Kwamchetsi Makokha on how the standard shareholders brought in dream team (including himself) to spruce it up for a sale. But once the paper was
turned round, they decided not to sell it anymore - and got rid of the dream team
got rid of the dream team.
- Royal media: management triumph over editorial desk has handciapped the Leader newspaper
- Kenya Times: Ruto takeover being rebuffed
- KISS newspaper - what it's outlook & potential
- KBC interference and cash flow problems
- Business magazine Market intelligence is no more
- Other media issues like poor staff pay at the Nation, how financial muscle (Uchumi, Samuel Gichuru & KCB) gets negative stories killed in the editorial room, and recap of the Artur raid saga.
It's a great read for 100/=
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2:50
The BBC World Service - Alan Johnson
» Mentalacrobatics I am a self confessed radio fan. Indeed the only thing I miss about the UK apart from the proper broadband bandwidth at affordable prices is BBC Radio 5 Live a talk radio station from the BBC that focused on news, politics and sport, yeah it’s like they built it for me. 5Live is not broadcast outside the UK unless you listen online so I’ve converted to the BBC World Service.
The BBC World Service is, in my opinion, Britain’s best export. It is certainly one of the widest exports, in every part of Kenya you can catch the BBC World Service on a local FM signal although some people seem to only tune in for the football updates! This is one of the reasons why the BBC World Service is not funded from the compulsory license fee that every British household pays but instead receives direct funding from the British government.
If you have ever lived in a war zone where news is restricted or indeed anywhere that has a less than independent media or a single media source you learn to appreciate it more. In Ethiopia in the 1980s everyone had one of those short wave radios where you can catch radio stations from around the world and everyone started their day with the BBC World Service. It was a routine, 6am switch on the World Service for the news. Then after that some would turn to hear what Voice of America, Deutsche Welle, Radio France Internationale or Portuguese news stations had to say, but you started with the BBC. You also hear of many resistance fighters/warlords/revolutionaries that refuse to speak to anyone apart from the BBC because they believe that only the BBC will report what they say accurately.
For a few years I used to call CNN’s Inside Africa programme “Inside South Africa”. It seemed like every other story was on South Africa. South Africa economy, South African art, South African music, it seemed like the rest of the continent got around 5 minutes. These days things are different although to be honest I have watched an episode of Inside Africa or indeed an hour of CNN since I moved back. When listening to the BBC World Service these days I am sometimes tempted to call it the BBC Nigeria and India and a little bit of the rest of the world Service. I have learnt more about Nigerian and India in the last 6 months than I have in the last 20 years. But since a lot of the comments and calls seem to come from those two countries I guess it is only fair. Which came first eh? The chicken or the egg?
Alan Graham Johnston is a BBC World Service journalist. He was born just down the road and across Mount Kilimanjaro in Lindi, Tanzania. He was kidnapped by an unknown group of gunmen in Gaza on March 12, 2007. Some feel that with all that is going on in Kenya and in Africa it can be hard to give a toss about some mzungu journalist that was captured gallivanting across the Middle East. I however appreciate the work these journalists do bring us stories from many different places. I also appreciate that this world is truly becoming a global village, and what would be the point of me having a blog if I did not engage with issues outside my daily routine and life? I also remember how bloggers and activists from all over the world rushed to help the Kenyan blogosphere publicize the attack on the Kenyan media by official thugs led by the so called Artur brothers. The Alan Johnson button will go up on my blog, I hope you put it up on yours too.
© Mentalacrobatics for Mentalacrobatics, 2007. | Permalink | 6 comments
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NIC Bank AGM
» bankelele The 2007 NIC Bank AGM was held on May 16 2007 at the Intercontinental Hotel
Who's the man?
The Chairman, Mr. JPM Ndegwa, was able to handle most questions and diffuse tense moments and awkward (not difficult) questions with careful answers and occasional jokes. He kept reminding shareholders to ask serious, not peripheral questions after the first question was – how can the deputy chairman, be older then the chairman? – answer was deputy is not my successor, he only chairs meeting when I'm away
Shareholder questions
AGM’s are quite routine except for shareholder interaction & questions or if there is special business to discuss, or multiple applicants for director seats such as as Kenya Airways or KCB
Dividends:
- Questions (Q) What are unclaimed? What happens to them? Answer (A) - These are cheques yet to be banked, but which NIC has to hold for about 12 in case shareholders or their dependants show up. However after the budget last year, unclaimed dividends will eventually be transferred to the CMA investor compensation fund.
- Earnings per share growing, but dividend per share still a huge way behind. A – Growth in dividends is prudential, NIC can't pay out 100% of earnings as dividends, and it also has to build up reserves.
- Q; Too many taxes on dividends A - Take it up with the government
- Q; Shareholders without bank accounts have trouble cashing cheques A – Chairman said it’s high time everyone got a bank account, and stop carrying cash around which is dangerous
- Q; shareholder who has bought shares several time gets 3 invitations to AGM and 3 small dividend cheques (and has to pay for each to clear) A - Chairman said he should check that all the shares were immobilized in the same CDS account which should consolidate all the shares
- Q; Why no bonus shares? A - Bonus shares do not increase shareholder wealth, only divide it more times. But it’s popular now, so they may consider it. But for now, if you want more shares, buy more
- Q; Why give t-shirts, don’t want them and want more shares instead A - Chairman answered it was a gift/token of appreciation to those who show up to do the business of the AGM. Added that it was actually a nice pullover, which he would appreciate over the next year (unlike dividend which is only used once)
NPA Q - NPA’s up over the last 5 years, what is the bank doing about them? A - NPA's are actually down over last 5 years. These are actually prudent provisions by NIC rather than lost money which the bank goes after aggressively. In fact since year end (2006) statement were published and 1st quarter (2007) results published last year, this figure has reduced by another 300 million shillings
Growth plans to sustain profit.? A - New NIC capital division will engage in commercial paper and bond activity which does not require lending. Also careful expansion into new branches. Nakuru branch was opened to support extensive asset finance business in the region. Also new branches at Westlands and the Junction (Dagoretti) are already profitable
Costs Q - Staff costs up significantly but staff numbers relatively unchanged A - new mangers hired to lead the bank into new business. This has been successful as NIC has grown 4 fold in last 5 years. Also union demands have meant bank increase staff salaries
CSR: Q - the bank's corporate social responsibility (CSR) projects seem to benefit only whites (mzungus as seen by the picture in the annual report A - that is not correct projects benefit all Kenyans. The bank has focused on the environment and education which benefit all Kenyans
Why not support AIDS war? A – Bank has supported Nyumbani Home and has a staff HIV policy but focus this year is on environment and education
Hot button issue
Q - Management of the Bank not representative of Kenya as they all come from one region and the wealth needs to be spread around the country got some generous applause A – This is a company not a political forum. All managers are hired on merit. The CEO position was widely advertised (nationally & internationally) – they got the best man, and the results speak for themselves. Resources (dividends) will go to the areas of people who buy shares in the company got even greater applause
AGM Goodies: NIC half-sweater, Intercontinental lunch box (one rib, chicken drumstick, soda, spring roll, mini pizza, samosa, apple, cake slice)
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0:45
Acclaimed Author David Fick speaks with Benin Mwangi
» Startups in Kenya I enjoyed reading Benin Mwangi's interview of David S. Fick, an American Entrepreneur who writes about the opportunities in Africa for entrepreneurship. The interview reveals David's insight into entrepreneurship in Africa: opportunities, success stories, and challenges.
Here is an excerpt from the interview:What inspired you to become an author and begin writing about Africa’s entrepreneurs?
My wife and I were guests of the people of Kenya, Tanzania, and Ethiopia for two weeks in August 2000. We found ourselves impressed by the beauty of Africa and the hospitality of its people. The Ethiopia of 2000 reminded me of South Korea as it was in 1962 and 1963 when I had the pleasure of serving in Korea as a lieutenant with the U.S. Army’s Transportation Corps. Our suppliers were from the private sector in South Korea, and it was the local entrepreneurs who became the engines of growth for the future development of South Korea. Having graduated from the Wharton School at the University of Pennsylvania in Philadelphia in 1961 and having spent my business career (1964–1988) as an entrepreneur in Kansas, I found myself becoming interested in the opportunities for entrepreneurs in Africa. Upon returning to the United States, I began researching for this study. In my search for successful entrepreneurs in Africa, I became aware of the opportunities and roadblocks that the cultural, economic, social, political, and physical environments provide in Africa. This newfound awareness has led me to search for actual or proposed projects and policy changes that are or could be of great benefit for the people of Africa and the entrepreneurial environment.
You can read the full interview here: [beninmwangi.com]
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