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21:08 Dyer & Liar……
» Kenyanentrepreneur.com Reading the Nation’s business section can be trying sometimes. Witness the following headline: “Safaricom advisor to earn 5 cents pay”! But they don’t stop there: “Dyer & Blair will partner with Morgan Stanley & Co International PLC, Faida Securities, Ashbhu Securities Limited and Dyer & Blair Investment Bank in a deal where they will be expecting a [...]
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18:36
Katrina: Public housing residents also deserve to reach home
» Marian's Blog This action alert comes from the Advancement Project - advancementproject.org. See their documentary on their site, and sign the online petition for Senate bill 1668 - the Gulf Coast Recovery Bill of 2007 - expected to come to a vote...
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18:33
Graduation and Growing Up
» Startups in Kenya Most students think that graduation day is their day; the fruitful culmination of several months or years of study. In reality graduation is for the parents and guardians whose hopes and dreams are carried by their children. Graduation is the proof that their emotional and financial investment in their children's education has not been in vain. It's no surprise that "parents" always outnumber the graduands by 5 to 1 at any graduation ceremony.
Yesterday was a special day for me as I attended such a graduation. But I was not the one graduating, and nope, there is no Harry Jnr yet. Yesterday I was privileged to be the chief guest at Mwangaza College in Nakuru on the occasion of their 13th graduation ceremony.
I was invited to the graduation by Br. Brendan Foley, the current administrator of the college and my former high school headmaster. As chief guest I had to give an inspiring speech to the graduands.
I was invited six weeks in advance so I had enough time to prepare the speech; but the truth is an entreprenuer's mind is a fickle one, and mine more than most. Plus you add my self-confessed LMS nature and you should be able to vividly picture me mentally fine tuning my speech half an hour before I was set to speak.
Prepared speeches have never been my thing anyway and I love to speak without reference notes as it gives me the flexibility to change the speech to fit the mood. The other speakers were Bishop Peter Kairu of the Nakuru Diocese and Br. Brendan who both gave stirring motivational speeches so I decided to tell my story hoping that it would inspire the graduands.
The interesting thing was that as I told my story I also learnt something. In high school I was always up to no good fuelled by my highly profitable contraband foodstuffs business (I told you I'm an entreprenuer!) Eventually things got so bad that I quit the school and was faced with my first true 'adult' decision; to be or not to be? Up to that time in my life I never really had to face the long-term consequences of any decision I made. This time it was different - the choice I made would live with me forever and I would bear the failure or enjoy the success that followed. Eventually I did make that choice and I realise now that that is also the point I can say grew up.
The graduation was finished off by a fashion show from the fashion and design department. Nothing like young girls strutting their stuff to get the crowds swelling. Br. Brendan had told me the fashion show was the most popular part of the ceremony. I believed him; men, women and children were engrossed and entertained for close to two hours as design after design was catwalked on stage. As soon as the show ended the crowd practically vanished into thin air giving testimony to the fashion show's popularity.
As I drove back to the Nairobi I felt quite pleased with the day. Here's congratulating all Mwangaza graduands and hope I made entreprenuers out of some of you.
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15:32
NSE is unfair to Francis Thuo customers!
» Rants, Raves & Reviews My primary source of information is from the Business Daily. I will revise the blog entry as as I receive more information. My comments are in RED.Cash payment to Francis Thuo investors explained 
Written by Geoffery Irungu 
Photo by: Frederick Onyango The Nairobi Stock Exchange blamed logistical issues for decisions to compensate investors of the collapsed Francis Thuo brokerage firm in cash rather than the equivalent value in shares.
30-August-2007: The Nairobi Stock Exchange yesterday blamed logistic difficulties for its decisions to compensate investors of the collapsed Francis Thuo and Partners Stockbrokers in cash rather than the equivalent value in shares.
Oh, please educate us... What were these "logistic difficulties"?
During a meeting with majority investors whose business was transacted through the collapsed firm, the NSE was put on the spot over how it picked on a day when the market was generally down as the value date for the compensation.
The meeting, which took place on Tuesday, saw the NSE admit that fraud was apparent in some cases where shares were sold by the firm without valid orders from investors.
If there was fraud why have no arrests or prosecutions taken place?
Why are the crooks being protected?
Who is shielding these crooks?
The criteria used to pay investors in cash at face value — with no interest or regard to the losses made during the seven months that the firm has been in business — had raised eyebrows soon after NSE announced August 17 as the value date.
The value date, if any, should be the date Francis Thuo & Partners shut down.
Mr Chris Mwebesa, the NSE Chief Executive, said the date was picked upon because that is the day when Renaissance Capital —which bought the Francis Thuo business for Sh251 million —paid their dues.
Well, since the NSE/CMA waited till it received KShs 251mn from the sale of the license then it reasons that the customers/creditors should receive a share of the EXCESS funds!!! Basically, the creditors "own" a company in bankruptcy. So the license (& monies from its disposal belong to the creditors!!!).
It was also the date the cheques were being written after the reconciliation of accounts relating to the investors through the insolvent broker.
He said 850 investors were involved and the payments were going on as scheduled from Monday and are set to be completed by this Friday.
Misunderstandings had arisen mainly because there were investors whose shares were sold by the collapsed firm without them having given sale orders.
There is no misunderstanding. I call it FRAUD. Simple as that! If I had shares held there simply because I need a CDS account does not mean I wanted to sell the shares. Replace the shares for shares!
The NSE boss said it would have been logistically difficult to start buying the shares again on behalf of the investors.
Nonsense! The NSE should give the customers/investors the option of receiving cash or shares. The NSE has a process of "buying-in" shares if not delivered by brokers. The NSE can buy these shares from the market & transfer them to the investors.
Mr Chandulal Shah, an investor at the NSE and also a consultant on investment matters, said that investors should have received shares instead of cash in cases where such shares had been ordered and paid for by the broker.
Damn straight! Mr. Shah is an experienced shareholder activist & is RIGHT!!!
Mr Shah said that those who had sold the shares of investors without their prior approval should be charged in court with fraud.
I see the hand of FT & Partners' friends in this matter!!!
Some members of the NSE are protecting one of their own including a silly suggestion that FT gets a "golden handshake" for committing fraud... WTF?
This may set a precedent where a thief caught in the act gets compensated for his "troubles" coz he was caught stealing! WTF (again)!
Although the money owed to investors was initially thought to be around Sh90 million it has since turned out that it is about Sh150 million. Mr Mwebesa said the bourse also has to compensate the investors for dividends and bonuses that had been dispatched to them through the stock broker.
Of course, investors should be compensated for bonuses & dividends!!! In fact, investors should demand interest on the cash & dividends!!!
The claims paid for included money that had been in the accounts of the investors, funds received from the sale of shares without authority and for shares sold but for which money had not been received by investors.
What about interest on the money? And at T-Bill rates!!!
Mr Mwebesa said those who had ordered for shares with the brokers but which had not been bought would receive the exact amount of cash they had given the broker.
What about interest on the money? And at T-Bill rates!!!
Controversy had arisen as to the criteria used to determine the August 17 as the date of reference when compensating investors as the stock market 20-share index had on that date lost nearly 70 points compared to the previous week, depicting a less attractive week to invest in the bourse.
Mr Mwebesa said the NSE had during the meeting asked investors to bear with them especially in view of the fact that the bourse had done everything possible to ensure that they did not lose any money.
Oh, please! What did the NSE do to protect the investors? The NSE was aware of the bounced cheques from FT & Co. The NSE knew that investors were not getting paid for shares sold!
The NSE abetted the fraud. As is the investors should have been compensated for the losses through fraud but neither the NSE nor CMA raised a finger to help them during the tough times! The NSE had the option to repay the claims of the investors through raising funds from their members but they did not!
He said that investors would ordinarily have been entitled to Sh50,000 maximum if the money had to be drawn from NSE’s Investor Compensation Fund. “The payments to investors are expected to maintain confidence in the stock market,” he said.
So the NSE is saying that to protect oneself against FRAUD, an investor should have no more than 50,000/- in a broker's account?
How can I have confidence in such a scenario?
I have a good mind to recommend ALL investors should hold certificates!!!
The SIPC in the USA insures investors for a minimum of $500,000 (KShs 33,000,000).
Finally... where is the CMA in all this????
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12:57
Don’t have KSH 1M? Use your vote!
» Mentalacrobatics There have been many bad ideas during this phoney war stage of the political battle in the race to Statehouse, many. Kalonzo trying to pull a fast one on the other ODM-K presidential aspirants, Jirongo believing Moi would back him for the presidency; young NARC-K politicians thinking the Wazees would let them run the show; Kibaki returning ministers tainted with corruption back into office; Martha Karua and everything she does; ODM going to a delegates convention without proper delegates etc.
However, the worst, absolutely worst idea ever, is this KSH 1 Million (USD 15,000.00) per plate lunch affair that Kibaki’s re-election team is planning for Saturday which is expected to attract 1,000 people. What were they drinking the day they came up with that idea? It is hard to think of a more stupid idea at this time in Kenyan politics? If that wasn’t enough, reports have also emerged of the purchase of nearly 200 four-wheel-drives, the formation of a 300-member team of co-ordinators each earning more than $1,000 a month, and the existence of an ICT team that will see the president’s re-election message flood mobile phones. The only conclusion I can come up with is that there is someone at the heart of the Kibaki camp deliberately sabotaging his re-election efforts and they are very good at it. It serves absolutely no purposes.
What about the money? Kibaki needs the money! Of course Kibaki needs the money. This is going to be the first campaign in Kenyan history where each serious presidential candidate (sit down Dr. Ojiambo) will spend at least KSH 1 billion in the run up to the election. No clever politician campaigns with his own money. So they have to raise money. But anybody who is willing to turn up to a KSH 1 million a plate lunch in support of Kibaki would have given him the money away. It is not like there are hundreds of undecided millionaires in Kenya who were swayed by the quality of warus on the Statehouse menu. So why have the lunch and make a public show of such gluttony? Why deliberately antagonise the 30+ million Kenyans who will never ever see KSH 1 million?
Secondly, because of the nature of Kenyan politics, I can confidently predict that guest list will be dominated by members of one tribe. So after this lunch Kibaki will not only look greedy and completely out of touch, he will also look like the supreme tribalist, which is sad as the vast majority of Kikuyus will never see KSH 1 million in their lifetime. Wasn’t it that patriot Josiah Mwangi (JM) Kariuki (who happened to be Kikuyu) who warned Kenyatta decades ago about creating a country of 10 millionaires and 10 million beggars?
Thirdly, just how out of touch with the man on the street do you have to be to even suggest an idea like this to the president? And how out out touch do you have to be to accept the idea as good? doThis administration’s lack of realists would be comical if it were not so serious. It is easy to see now how these guys believed the draft constitution would sail through the referendum the day before the Kenyan voters told them where to stuff their draft. Just like that arrogant, self belief undid them then, it will undo them here. They basically do not care what anyone thinks and they think that is fine. They move from Ivory Tower to Ivory Tower and never take time to stop and listen.
Meanwhile back in the real world, at the same time as Kibaki and his friends are having their KSH 1 Million lunch, a bunch of us will be at Jeevanjee Gardens, snacks will be served to about 1000 people, although feel free to bring your own, KSH 1 million is purely optional
Karibu!Press release from the indefatigable MARS Group on behalf of the Kenyan Human Rights Network:
PRESS RELEASE ON 29TH AUGUST 2007 - A MILLION FOR LUNCH?OR ONE MILLION LUNCHES?
“Those with money have access to the president … those without have the votes to elect the president”
Civil Society, Nairobi KenyaThe Kenya Human Rights Commission (KHRC) has today (29th August 2007) given the OCS Central Police Station notice, under the Public Order Act, on behalf of the Kenya Human Rights Network (K-HURINET) of a public event to be held at Jeevanjee Gardens on Saturday the 1st of September 2007. KHRC has also obtained the necessary consents from the Nairobi City Council and the Friends of Jeevanjee Gardens.
The meeting shall be held from 10.00 am to 3.00 pm. Activities will include a public forum where snacks will be offered to an approximated 1000 people.
Please note that the function shall be preceded by a procession from the Globe Cinema Roundabout to the above mentioned venue. We shall assemble at the Globe Roundabout at 8.30 am and start the procession at 9.00 am
Mars Group Kenya
Media Laison for K-HURINET
Contact Jayne/Fiona
020 3533230
info [@] marskenya [dot] org© Mentalacrobatics for Mentalacrobatics, 2007. | Permalink | 15 comments
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12:41
Moi throws his lot in with Kibaki
» Kenya Imagine In an announcement yesterday that has been coming for months, former President Moi declared that he would be supporting the re-election bid of President Kibaki at the general elections later this year.
What do you think? Join the kenyaImagine discussion here.
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10:33
Republicans' Larry Craig vs. Oliver Thomas, New Orleans' ex-councilman
» Marian's Blog How many Republicans have heard of the "down-low"? They may be getting an unparallelled lesson from a U.S. senator, another member of the conservative flock. The "down-low" is a Black American cultural reference to the not-so-rare behavior or lifestyle in...
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9:58
Locking Out The World Too Late
» Cock And Bull Schools are now closed and the children are on their second term holidays. As a result, the neighborhood has become one large playground as children of primary school age gang into noisy troupes; bouncing objects off the walls, running with rapid noisy stamping feet, shrieking endlessly at the top of their lungs, and raising general mayhem. The house girls are up to their gills, with house work in addition to the task of monitoring who is where, doing what and with whom. However, one little girl is missing out on all the fun.
When you walk into the apartment compound from outside, you most probably will see a child - about 3 years old - waving at you from the other side of a window pane. That is her bedroom, and she spends many hours looking out, hoping to see someone she can communicate with. Of all the children in the neighborhood, she is one of the most lively, and is extremely friendly, always practicing her English speaking skills with anyone passing by. And it breaks my heart to hear her muffled voice through the window, and I wonder what she feels when she sees all the other children playing happily just outside her bedroom.
The reason why the small girl has to look through the window is because she is not allowed to go outside and interact with the other children. Her mother is the strict kind. She even makes the house girl wear a full uniform, a concept that is quite alien in this part of the world. The woman does not interact much with the neighbors and you might only see her when she makes the short trip from her apartment to the car or from the car to the apartment.
The small girl reminds me of children that were not allowed to come out and play with us when we were growing up. We always wondered why they were locked in, and thought they were different in a way we could not see. All the same we would talk to them at every opportunity, and feel sorry that they could not come out and play. I always wonder how they turned out later in life.
I suppose the reason why a parent would want to lock up a child in the house is to protect the little boy or girl. But from what? Right now, the only thing I can see the little girl being protected from is the world. The world of other children, and grown ups, and dirt, and animals, and open space. She is being protected from a world that she will have to blend into sooner or later.
The world cannot be shut out by a simple door. Especially not in this age when it has conspired with technology to make sure that it gets us even in the innermost corner. In Kenya today, with the parents away at work, the house girls busy with chores, there is only the TV to baby-sit children. But have you seen how violent the shows, how dirty the language, and how sexual the contents have become? And remember, it is just a matter of time before anyone – including kids - can access full internet on cheap portable devices. What then?
You must have seen adults and children jostle for positions in front of the TV to watch WWF wrestling - men using brute strength to bash one another on the head using steel chairs. Out of this scenario, I suppose what should concern anyone more is the joy that adults seem to derive from violent shows, vulgar language and obscene images on TV, as the children witness this glee and absorb all the behaviors like a sponge. If we don’t change our attitude towards violence on TV, how can we then be able to convince children that violence against another is wrong, yet they witness us enjoy watching it so much?
The fact is that parents should be concerned with protecting the children from that which is already inside the house, as much as that which is outside. That which is inside the house includes adults.
It might almost seem futile when we think about the difficulties that face us in raising children in the proper way. But over the ages, a mother’s Love or a father’s guidance or even any concerned adult’s positive mentorship have never failed to work miracles on growing children regardless of how precarious the situation was. These are still tools that we possess. Otherwise, forcefully keeping a child in the house is tantamount to closing the doors and windows to keep out odor, only to realize that the skunk is hiding under the bed, and the foul smell is coming from inside the house.
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9:56
When You Get To The Top
» Cock And Bull When people wish for fame and fortune, they never realize that the challenge is more in having than in not having. One person told a story about some people in his home town who had always been poor who suddenly struck oil in their back yard. It brought great riches. The father joined the country club and went in for golf. He was no longer young and the exercise was too much for him and he dropped dead on the links. This filled the whole family with fear. They all decided they might have heart trouble, so they all ended up in bed with trained nurses watching every heart beat.
Many people do not know what privacy is worth until they become famous. You just need to look at any tabloid to find out how people are obsessed with the lives of the rich and famous. When it comes to celebrities, anything – absolutely anything - is worth reporting about. Personal security also becomes a big concern. Can you imagine living the rest of your life not having to go anywhere without anyone to mind your security? No being able to do anything without wondering if anyone is snapping a photo from miles away using a high powered camera? Not being able to say a word without the fear of your comments appearing on the front page of a newspaper?
One of my friends who is well on the way to becoming rich and famous talks about how he learnt about the complications of sudden wealth at a young age. He grew up in the rural areas at the time when coffee growing was big business. When the money from the season’s coffee sales was paid, farmers would literally go crazy with their new found wealth. His neighbor was one of those people. Each time he got the lumpsome amount from the bank, he would buy a loaf of bread for each member of his big family (In those days, bread was highly valued and one ate as much as was available). With each person’s stomach full to bursting with a whole loaf of bread, he would grandly announce in Kikuyu, “Ũmũthĩ tũkũmĩa Mũrang’a!” That translated to, “Today, we will all go to the toilet in the town of Murang’a”
The reason why the whole family had to go to Murang’a Town is because with so much money at their disposal, they did not need to use a pit latrine like poor folks. Given that flush toilets were only available in Murang’a Town, the whole family would troop into a bus and make the 40 kilometers trip to town just to use the ‘rich people’s toilet’. The spending orgy would continue in town and when the money was finished, they would return home and continue using their pit latrine until the next season’s coffee payment. The short lived life of grandeur did not leave much money for school fees, and hence the children never had an education.
As children, it was such kind of bizarre incidents that used to make us chant loudly:
God made man,
Man made money,
Money made man mad!Fortunately that need not always be the case as proven by many people in the rich and famous bracket. A case in point is Mr. Warren Buffet. During the period when he was the second richest man in the world, he gave a rare public interview and revealed that he still lives in the same small 3-bedroom house that he bought after he got married 50 years ago. He said that he has everything he needs in that house and it does not have a wall or a fence. He drives his own car everywhere and does not have a driver or security people around him. He never travels by private jet, although he owns the world’s largest private jet company.
Warren Buffet does not carry a cell phone, nor has a computer on his desk. His advice to young people: “Stay away from credit cards and invest in yourself and remember: Money doesn’t create man but it is the man who created money.”
Despite his simplicity, Warren Buffet has donated $31 billion to charity.
The challenge of money is more in having than in not having. When a challenge is expected, it can never be a problem. When you get the good fortune of being rich and famous, let it be a blessing to you and to others.
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6:46
the installation & admin status dilemma
» Kikuyumoja's realm Just a short notice to those poor souls who are confronted with the scenario in which they are forced to run an executable file (*.exe) on their machine which requires an installation and don’t have administrator privileges in a Win NT/2K/XP/Vista environment - so an installation often isn’t possible.
I am currently working on a proposal that has to be changed and had to install a software which is the _only_ way to actually fill out the application form. Since I do not have any administrator privileges on the machine in our office, I pulled out the notebook with an open (~ as in “sudo root”) operating system and installed the required software on an external USB memory/flash stick, running the previously mentioned PortableApps suite.
This way, the installation is done directly on the external flash drive and may be used on any computer - which is of particular interest as the required printers often aren’t set up on all machines.
Oder gerne auch auf Deutsch: für das elektronische Antrags- und Angebots-System (easy) diverser Bundesministerien (BMBF, BMELV, BMFSFJ, BAMF, BMU, BMWi, etc.) setzt man das easy-Programm am Besten in Verbindung mit der PortableApps Suite auf einem externen Speicherstick ein, da nicht alle Bürorechner den Benutzern die zur Installation nötigen Administratorenrechte einräumen, und der Ausdruck von den “ungeschützten” Rechnern in der Praxis meist nicht möglich ist (z.B. eigenes Notebook in Verbindung mit dem Laserdrucker im Büro).
hope this helps!
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6:16
Mid Week Business
» KA-INVESTOR Privatization
Investment secretary Esther Koimett is at it again. This time she’s on privatizing Development Bank of Kenya (DBK) where the government owns 89.3% of the Bank through ICDC while Commonwealth Development Corporations of UK owns the rest. The bank which was almost merged with Housing Finance in 2005 is also being sort after by TransCentury. With an assets base of Ksh.3.9 billion Its Kenya's 34th largest bank although it has been face with reduced profitability over the years due to stiff competition from other banks.Safaricom IPO still on courseDespite the efforts to stop the Safaricom IPO firms have been awarded tenders to provide professional advisory services to the firm. Seemingly the zero bidders have been left out and the following consortiums won the tenders:
Lead transaction advisor - Dyer & Blair
Legal Advisory Services - Muriu Mungai
Receiving Bank - Citibank, Na
Reporting Accountant - Deloitte & Touche
Advertising - Redsky Kenya ltd
Share Registrar - Image Registrars
Kenya Re shares hit the NSE floor in a bang on Monday but things are not likely to be as previous IPO’s has the share price dropped sharply from ksh.16 to ksh.14.60 yesterday thanks to speculators {banking on the first-week-rise theory}. But the share still has a lot of potential that may see it rise above the 100% mark in the short term.Watch listAccording to smartbiz Africa NIC bank and Access Kenya are the stocks to watch, while Kakuzi, KQ and Mumias are the stocks to be cautious on coming next month.
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5:10
Will Moi's Second Project Work?
» You Missed This The First project, Uhuru Kenyatta failed miserably in 2002. Has the former president and self proclaimed professor of politics learnt anything?
archive
Former President Moi still does things the way he used to do them during the 24 years he ruled Kenya.
For instance we know that he made his mind a long time ago to back President Mwai Kibaki but yesterday he gave the impression that he had thought about the matter long and hard and really agonized before finally reaching a decision.
He however stressed that he would remain in Kanu and that he would be actively campaigning for the party in the run up to the forthcoming general elections. The former president who now walks with a distinct limp (although he has stubbornly refused to use a walking stick, at least in public) moves much more slowly these days and hardly looks like he is up to the task of indulging in a rigorous campaign, even if that campaign will only be within the borders of the expansive Rift Valley Province.
This morning all Kenyans newspapers are analyzing the impact of Moi's declaration of support for the incumbent. I have deliberately avoided reading any of them at least not before I write my own analysis of it. One of the reasons why Kumekucha is so popular is because we DO NOT recycle information from the daily newspapers like many other Kenyan blogs do and always like to give our own independent perspective.
Moi's move now clearly shows us what President Kibaki's game plan is. Although there are those in the opposition who see Kibaki as Moi's game plan and in fact his project in the upcoming elections, just like he had the Uhuru project in the run up to the 2002 elections...
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How To Make Serious Money Using Blogs Or Generate Plenty Of Traffic For Your Site. It Is So Easy, Expert Explains -
3,000 Metres Steeplechase Mystery Deepens
» You Missed This archive
No other sporting event in history has been so dominated by a single nation and Kenya stamped her authority and dominance in this event in Osaka yesterday with a stunning Kenya one, Kenya two, and Kenya three performance in a clean sweep of the gold, silver and bronze medals.
I could not contain my tears as the 3 smiling flag draped athletes did a lap of honor. It was all too much for me and I believe many Kenyans when the national anthem filled the stadium. For that brief magical moment no Kenyan would want to think of tribe or political inclination. Kenya was one nation, delighted and celebrating a stunning victory on a competitive world stage.
What is it with Kenyans and this race? Mention this event anywhere in the world and you will be told that it is the Kenyan race. Several research projects have been undertaken to try and unearth the mystery behind this dominance...
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How To Make Serious Money Using Blogs Or Generate Plenty Of Traffic For Your Site. It Is So Easy, Expert Explains -
First Lady Lucy Forces President Kibaki To Walk 3 Kilometers In The Heat And Humidity Of Mombasa
» You Missed This archive
The president had waved to the crowds at Mwembe Tayari and turned to go back into his presidential limousine. The door had even already been held open for him. Then suddenly first Lady Lucy blocked his path and gestured indicating that they take a walk. That walk in the blistering Mombasa heat and humidity ended up being a 3-kilometer trek to State House Mombasa. At one point, it was clear that the president—heavily dressed in his warm suit—was straining and pushing himself to the limits to keep walking.
First Lady Lucy on the other hand looked like she was enjoying herself immensely.
The problem with the first couple is that prior to the president being elected president the first lady took no interest whatsoever in her husband's political activities. Everybody knew that it was the president's other wife, Mary Wambui who was politically active. But when President Kibaki was swept into power, she suddenly became a domineering presence on the scene and everybody was forced to suddenly adjust drastically to accommodate her. Those who did not adjust quickly enough like one Matere Keriri quickly found themselves thrown very far away from their close proximity to the president. Everybody knows that you do not under any circumstances contradict the first lady.
That is why, although it was not...
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How To Make Serious Money Using Blogs Or Generate Plenty Of Traffic For Your Site. It Is So Easy, Expert Explains -
Can A Man Live On Oranges Alone?
» You Missed This archive
Guest post by Michael Too
Living on oranges alone
Yes! Kenya as a nation is back to its highes heats in Politics.
We have President Kibaki in power, struggling to retain leadership. Behind him is a self proclaimed professor of politics, Mr. Moi (Read 24 years in power), emerging strongly and drumming support for an unnamed party and condenming ODM. On the other hand Mr. Raila and his allies are moving swiftly to every part and corner of this great nation trying to pasuade Kenyans with oranges that under his leadership, things will be fine, very fine, finer than before. Unlike during the referamdum, where we got full oranges, this time, we are getting half if not split oranges.
Where did Robert Go?
Kenya lost a big brother named Roba (Hon. Robert Ouko). The only professor in politics will not like this mentioned. It was always na hiyo ni maendeleo even if a cabinet minister goes mising for several days. We lost an inteligent Mboya in almost a similar way Roba left us. Bishop Muge, Mr. Seronei name it-this list is endless. When former Baba wa Taifa goes round telling us to vote so and so and not so and so, in other words, he is reminding us of all unmentionale things that happened during his era Kwa hivyo afyate mdomo wake na aendelee kujienjoy kwa retirement.
Story ya mamluki?
Given a chance, i'm quite sure Mr. Agwambo will vivvidly address this matter perfectly well if he
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Amendment of Retirement Benefits Act – Open letter to Hon. Paul Muite
» You Missed This archive
James W. Wang’ondu Nganga
P.O. Box 536
Njoro – 20107
Kenya
28/08/2007
Amendment of Retirement Benefits Act – Open letter to Hon. Paul Muite
Dear Mheshimiwa Paul Muite
This letter serves to remind you about your commitment to move an amendment to the Retirement Benefits Act to enable those of us who retired on or after 1st January 2006 to draw the balance of our pensions, and not therefore have to wait until we reach the age of 55 years.
I am one of several affected by the law enacted by former finance minister David Mwiraria and was therefore very excited to read about your proposal to move for an amendment to the Act because I am in dire straits like many others. Both my matatus are grounded and my wife, two school going sons and myself are now heavily relying on our two daughters based in Denmark.
This is not fair on the two young ladies who are in their early twenties.
I am to blame to a very big extent because of silly investment blunders I made in the...
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dorothyduncan
» Mentalacrobatics I love African outfits. I love the bright colours, the fabric, and the unapologetic joy that our clothes scream. It is impossible to wear a fantastic African outfit and feel depressed or low for very long. One look in a mirror and culture picks you right up.
All this makes me excited about the launch of dorothyduncan a business that sells a dare to live attitude and lifestyle though unique and exclusive pieces by independent fashion designers from various parts of the world. Co-founded by Kenyan Dorothy Ghettuba and Mandy Duncan from Guyana, dorthyduncan’s clothes are fantastic.
Equally important is that dorothyduncan seems focused and committed to the simultaneous pursuit of return on investment in three areas - financial, social and environmental, the triple bottom line. It is no longer acceptable to make money at the expense of the community and the planet.
dorothyduncan are currently featuring the Kenyan based design house Kimila Afrika who specialize in making outstandingly beautiful and comfortable Afro-Urban pieces with bold prints and bright colors from the leso/kanga fabric. The challenge for many African designers is the logistics that comes along with selling their clothes. There are limitations like shipping, payments methods etc but dorothyduncan is bridging that gap by being a one-stop shop of African designers.
They are out to build a company and build their community through that company. Social entrepreneurship at dorothyduncan through fashion! (They are also bloggers and members of KBW which makes them amongst my most favourite people!)
Have a look at dorothyduncan and let them know what you think.
© Mentalacrobatics for Mentalacrobatics, 2007. | Permalink | One comment
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3:43
Things To Thinketh About
» Cock And Bull I have two people who owe me money. One owes me just a few hundred shillings while the other one owes me several thousands. Last month, I decided to claim my dues. I started by visiting the one with the lesser amount at his work place. When I arrived, he was having a lunch of githeri (boiled maize and beans). When I asked him about my money he said, “I do not have your money now. Look! I cannot even afford to eat meat with my githeri.” He said while poking his food with a spoon. We agreed that he would have my money ready when I went back after two days.
Next, I picked up the phone and called the person who owed me several thousand shillings. He said, “I would have paid your money, but I had to buy some supplies for my business which cost me over one hundred thousand shillings.” We agreed that he would call me as soon as he had my money.
He has not called yet and so I still don’t have the money. As for the man with the several hundred shillings, I went back several times to the same sob story and still haven’t received my money yet.
Apart from the money that is due to me, what else interests me so much about these two people is how each one of them present themselves when confronted with financial difficulties.
Note that the person who owed me the small amount said that he couldn’t pay because he lacked money. He even went a step ahead to prove to me how the lack of money is affecting him by coming up with a ‘poor me’ story each time. Incidentally the man works at a parking lot at the most affluent section of town, surrounded by some of the most formidable vehicles in town. He does not even have a phone where I can call him and that is why I had to walk to his place of work each time. This reminds me of what Charles Fillmore wrote about what is commonly referred to as the ‘scarcity mentality’:
“There is no scarcity of the air you breathe. There is plenty of air, all you will ever need, but if you close your lungs and refuse to breathe, you will not get it and may suffocate for lack of air. When you recognize the presence of abundance of air and open your lungs to breathe it deeply, you get a larger inspiration. This is exactly what you should do with your mind in regard to substance. There is an all-sufficiency of all things, just as there is an all-sufficiency of air. The only lack is our own lack of appropriation.”
On the other hand, the person who owes me a lot claimed that he could not pay because he had used money. He even had the audacity to tell me that he spent over one hundred thousand shillings; an amount much more than what he owed me. Even though he did not have my ‘small’ money, he was able to hold on to the idea of ‘big’ money. Concerning ‘Abundance mentality’, Wallace D. Wattles wrote:
“To look upon the appearances of poverty will produce corresponding forms in your own mind, unless you hold to the truth that there is no poverty; there is only abundance. To think riches when in the midst of appearances of poverty, requires power; but he who acquires this power becomes a MASTER MIND. He can conquer fate; he can have what he wants. This power can only be acquired by getting hold of the basic fact that every thought held becomes a form, and that man can impress his thoughts to take form and become visible things. When we realize this, we lose all doubt and fear, for we know that we can create what we want to create; we can get what we want to have, and can become what we want to be.”
I suppose all this can be summed up into the popular saying: “As a man thinketh in his heart so is he”. I might not have my money back yet, but I sure do have things to thinketh about!
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3:42
The Curtain Arab’s Lesson
» Cock And Bull If you lived in Nairobi’s Eastlands in the 1980s, you might have seen an Arab who rode a motor bike into the residential areas selling curtains. His merchandise was usually secured to the back of his motor bike and he would peddle it from house to house. Whenever we would come from school, the blue motor bike would be standing unattended at the beginning of the rows of houses in our estate. The Arab would be making his sale.
Each time, we would admire the shiny bike, and try once again to come up with a plan on how to cause the Arab to fall off his bike. We figured that that would give us a good laugh, and so the planning was taken with a lot of seriousness. Of all the plans that we came up with, the one that was most likely to succeed was if we could pour some oil or any other slippery substance at the corner where the Arab maneuvered his motor bike into the estate. We figured that while making the corner, he would slide and fall and we would be nearby to laugh our heads off. We never managed to get the slippery substance with which to bring the Arab down, and I moved from the estate with a lifelong reminder and a lesson, rather than a laugh at the expense of the Arab.
There also happened to be another motor bike in the estate. This one was broken down and could not start, and so the owner had parked it in his garage. When we came from school, we would retract the old motor bike from the garage and ride around the estate parking lot, before discreetly returning it before the owner arrived from work. Each boy would take his turn in mounting the bike and would be pushed and then when enough momentum had gathered, left to steer the bike until it ran out of steam and came to a stop, or the brakes were applied.
It was in one of my turns that the brakes refused to work. When I came to the end of the parking lot, I was forced to steer the motor bike onto some loose soil to avoid hitting the raised curb. When the motor bike’s wheels made contact with the loose gravel, I knew I was in trouble since the bike started skidding, and within a few moments, I was on the ground with one foot pinned under the heavy machine. I was crying from the sharp pain on my ankle while all the other boys were howling in laughter. The injury was not so serious, but it left a scar that I can see even today.
I am not sure if it is the same guy, but I recently say an Arab with the same kind of bike with curtains strapped at the back wearing the same no-nonsense demeanor that the Arab from the 1980s used to wear. And as I watched him drive by from a distance, I recalled a verse from the Bible that says:
He who digs a pit will fall into it, and a stone will come back upon he who starts rolling it. (Proverbs 26:27)
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If I were a headline writer
» Mentalacrobatics Tedious, Tiresome, Terrible, Tormented Toro Backs Baks
(Inspired by one of the best headlines of all time.)
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Mother Theresa an Atheist?
» Kenya Imagine A few days ago, a book revealing that Mother Theresa was shaky on her belief has just been released. From her letters:"I call, I cling, I want ... and there is no One to answer ... no One on Whom I can cling ... no, No One. Alone ... Where is my Faith ... even deep down right in there is nothing, but emptiness & darkness ... My God ... how painful is this unknown pain ... I have no Faith ... I dare not utter the words & thoughts that crowd in my heart ... & make me suffer untold agony.
So many unanswered questions live within me afraid to uncover them ... because of the blasphemy ... If there be God ... please forgive me ... When I try to raise my thoughts to Heaven there is such convicting emptiness that those very thoughts return like sharp knives & hurt my very soul. I am told God loves me ... and yet the reality of darkness & coldness & emptiness is so great that nothing touches my soul."
Read more from Tim Norwood. -
Laurels for the Hardy
» Kenya Imagine Perhaps you have heard that Kenyan athletes are competing in Osaka. Once again, many of them are winning the races in true Kenyan style.
Here's to the medallists, to the steeplechasers; and to Janeth Kipkosgei who shut up those commentators who thought her tactics poor, showed that Kenyan women can do just as well and who will inspire me to go jogging again.
Read here as Annette Keino watches the games from a distance. -
My Social Dilemma
» Kenya Imagine Annette Keino writes on social networks, such as Facebook, MySpace, Hi5 and Beebo. She assesses their relevance in society today.
I love my Facebook, and the little conveniences it brings me. But, I am also alive to the fact that meaningful engagement with others, in these times when social bonds are breaking is more important than ever before. As we tackle societies mounting problems, especially the terror of climate change and increasing global poverty, it will be crucial that we get away from behind our computer screens, take of our earphones and engage with the world about us. It will be a dark day when our friends and emotions are options we can pick of a menu on the internet.
Read more here. -
What's in a name?
» Kenya Imagine Atandi Anyona on the worth of a name.
Oh Child of the continent, these cannot be your names! I say these cannot be your names! I know your names, I know our names and these cannot be our names! They cannot be your names. I know the sound of your names. I know the rhythms that turn your tongues and I know the beats that move your hearts. These things have shown me the voice in which your names should sound.
Read more here.
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0:32
Black Maria Strippa @ The Kenya National Theatre
» Kenyanpoet Black Maria Strippa @ The Kenya National Theatre
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0:02
SAFARICOM-THE LAST WORD
» assidous I blogged on this issue last November.I notice its been the top content on this blog ever since.It never leaves the top 10 list.After many comments on my blog i.e. Patriotic Kenyan,Gathara and many others, i give you my final thoughts on it in a Q & A format.
How many shareholders does Safaricom K Ltd have?
Two,-Telkom(K) Ltd(60% of Safaricom) and Vodafone (K) Ltd(40% of Safaricom).
What about Mobitelea?
Mobitelea is a shareholder in Vodafone(K) Ltd which is a Private Limited Company.
What about Mobitelea's stake in Safaricom?
Its an Indirect stake, Mobitelea owns 12.5% of Vodafone(K) Ltd while Vodafone Plc holds 87.5% of Vodafone(K) Ltd.Vodafone(K) Ltd main asset is the 40% shares in Safaricom(K) Ltd.
If you take 12.5% of 40% you get the 5% indirect stake Mobitelea has in Safaricom.
How was business was done in the Third World during the 20th Century?
In those days there were no worldwide Mergers and Acquisitions firms,lawyers or clients to perform proper due dilligence and show you the ropes.Think Morgan Stanley,Citibank,PWC and lately Rennaissance.Most firms were based in the WEst and 1 or 2 Asian Capitals i.e. HongKong and Tokyo.Mumbai was the name of some exotic perfume.
If you wanted to take over a local firm or go into a joint Venture with a Third World Government,you allied yourself with a local political operative and he did the 'due dilligence' opened the right doors and he got a stake in the new firm as his Partnership contribution.
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If you doubt me just look at the list of top civil servants and politicians of the 1960s Kenya and compare that with their business interests.
Why the IPO must go own
The Safaricom IPO will ignite significant foreign interest that will grow our markets and put Kenya in focus of all the top markets.The market Growth will create more jobs for everyone and grow the economy.
If we stop the IPO we can get back Mobitelea's stake
Ha, Not a chance the Mobitelea stake is parked in a private company Vodafone(K) Ltd.Government cant interfere with private property that is unconstitutional
Let me put the point across using a story:
There was once an old mzee who had 10 acres of land.He sold 4 acres to his Best Friend.The Best Friend then sold 1 Acre to a stranger the Mzee didn't like.The Mzee wanted that particular 1 Acre(that was sold to the stranger back).Do you think he got it back?
This is unfair Mobitelea's owners are getting away with free money
Life is unfair that why some people have first class degrees and are clerks while others have Certificates and are millionaires.Thats the case whether in USA or Kenya.
Apparently,this is the crux of Muthoni Wanyeki's Article in this week's East African.I respect Muthoni and she is one of the people i admire but i doubt her capacity to look at the big economic picture.
This is the best time to list Safaricom, you can never wait for the best time to do something..that time may never come.
What about the Privatization Act 2005?
It gives the Minister of Finance the power to Gazette it and decide when it shall come into effect.By the way Laws are never applied RETROSPECTIVELY.Do you know who the Minister of Finance is? i rest my case
The post above is by pesa tu and blogged here by assidous. I must give it to him, he has the real final word on the ownership controversy.
