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21:44 Zimbabwe.com
» Kenyanentrepreneur.com The owner of this domain name has received a bid price for $130,000 dollars (if someone outbinds him or her, the domain name could sell for even higher). That is interesting to me because I didn’t think “African” names would sell for that much (for a variety of different reasons). However, I suppose the name of [...]
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17:48
this is what happens…
» Kikuyumoja's realm …when companies like Nokia purchase the accessories for their mobile phones in low-wage countries:
The integration of a very very very low quality “Lithium Battery” (Made in Indonesia) into the AD-43 control unit of their flagship model N95 that dies just after 4-5 months in use. And mind you: I haven’t even used it in power-user-mode, but instead only for about 8x / week, 25 minutes each.
There’s no way to open this headset without damaging it as the screw on the back is only accessible once the clip is removed. :-(
The control unit died last night after flashing the internal firmware of the phone to V20.0.015, so I initially thought there’s a connection between a (faulty) flashing process and the dead control unit. But no! Just a lousy battery which promoted the whole gadget to higher glory.
NOKIA! ==> There are alternatives available, such as the Renata CR2032:
…which costs a little bit more, but honestly: what’s better? Satisfied customers who will buy another Nokia phone - or unhappy customers who even dismantle the headset themselves because your totally unable customer service doesn’t even reply to e-mails?
Sorry for being a bit picky on this, but there sure is a reason why some batteries do cost 0,20 EUR and others 3,- EUR.
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14:55
Baby KP Update
» Kenyan Pundit Gabi_8.5 months Originally uploaded by ateka. She’s just turned nine months and is such a joy. She can wave goodbye and hello…it’s the cutest thing. FINALLY sleeping through the night…yes I endured 8.5 months of not having more than 4 hours of straight sleep. What did it in the end? Not sure. [...]
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14:04
Safcon "divestiture"... almost there... or not?
» Rants, Raves & Reviews First... SafCon stays true to its name... truth in advertising is unknown to them... Customer Service is unknown... more later...
Now to their Offer For Sale not an Initial Public Offering that would raise funds for the firm.
Rumours have been flying back & forth but the total value of the Offer could run from KShs 35 Billion to 60 Billion. In addition, a healthy chunk 20-35% may be reserved for "foreign" buyers.
I think it is UNFAIR to sell part of SafCon to foreign buyers while Kenyans will be starved. The mantra among the brokers is that Kenyans can't absorb 100% of SafCon. I say that is BULLSHIT.
Considering the over-subscription for other shares e.g. Kenya Re-insurance & KenGen shows the capacity is there. KenGen raised KShs 27bn vs KShs 8bn worth of shares offered for sale.
There will be an estimated 1,000,000 CDS accounts by 24 Dec 2007, elections be damned biashara iendelee, & an average application of KShs 35,000 means a 100% subscription rate.
* Hundreds of thousands of Kenyans are prepared for SafCon's OFS with at least 10,000/- to their name.
* Tens of thousands of Kenyans have the "average" of 35,000/-
* Thousands of Kenyans have more than 100,000/-
* Hundreds have 10,000,000/- or more.
* Add the Kenyan Unit Trusts, Insurance Firms, Banks, etc who have 10,000,000/- & more.
* Finally there are the E.African Investors who are treated as "locals". (Erm, unlike the Ugandans, the Tanzanians treat Kenyans as "foreign" investors, why do we allow them - Tanzanians - to participate as locals?)
Therefore, even if we had KShs 60bn worth of shares for sale... they would be sold, nay, over-subscribed if sold at the right "discount"!!!!
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9:32
Anniversary Redux
» bankelele Thanks for all the great comments on the 3rd anniversary post.
I’d also like to salute Kenyan Pundit, an inspiration to taking blogging mainstream, on her 4th anniversary (also the first blogger I met).
I’d also like to salute site sponsor Mama Mikes on their
new blog - hopefully that will spur more local companies to take up corporate blogging.
I’d also like to thank other financial bloggers who help share the burden of disseminating and discussing financial information as it occurs here – and these include Cold tusker, Fintrade Capital, Kenya Capital Investment Group, Nairobist, Odegle Nyang (who’s able to mix in political angles), Pesa Tu, Riba Capital, Aly Khan, Ka-Investor and Tannznia Common Cents to name a few.
Thank you for all the people who ay that they have been inspired to start blogging
You said, you said
- More AGM’s: absolutely! In fact anyone who goes to an AGM is welcome to submit a report here
- Monetization; absolutely, always on the look out for more sponsors. But this site will remain free. Even the WSJ and New York Times have realized that the free content is the way to go
- Background: white/ black does not matter. But I’ m shocked that there are people having trouble reading the white screen.
- Job postings: will continue. They have been useful to some, but not to others
- M I hear you on your points.
- More writing on economics and inflation local development, other African countries, entrepreneurship - Yes
- Politics? No, I’d rather not, there’s enough elsewhere
- Partnerships with other bloggers? Women perspectives? I’d appreciate AGM reports, and any other posts of note for republishing. It’s amazing who know more about economics than you do and where you can learn more from unexpected sources. E.g. talking to Binyavanga Wainaina in Arusha I was amazed by his views on the work ethics and entreprenual potential of the Chinese companies and Eritrean nationals. He should write more on economic issues along with literature!
Any other suggestions, e-mail is on the about page -
External relations & Diaspora issues
» bankelele Safaricom IPO
It appears 35% of the shares on offer may be reserved for foreigners, but they may have to pay more per share than local investors or other East African nationals.
IPO please: The necessity of a Safaricom IPO – IMF says Kenya is not paying developemtn debts
No vote
Kenyans abroad always demand the right to vote from any government in power, but without much success. The logistics are not that difficult to manage as other countries are showing;
- About two months ago, a notice appeared in the nation inviting citizens of Botswana wishing to vote in the national elections to come and register at their Nairobi high commission (Gigiri) over a three week period.
- And now the Russia federation has invited its citizens who wish to vote in the state duma elections to come and cast their vote at the Nairobi Russian embassy (Kilimani) all day on December 2 (Sunday) – and all they need are their passports!
– So maybe one day the Electoral Commission of Kenya will be able to assist the Diaspora vote
Diplomatic pass
And just this week the Kenya government has waived entry fees for spouses and children of diplomats working with the US Embassy in Kenya. Hope this is reciprocated by the US.
Strong Shilling
The dollar is the dollar and it has sunk across the board and will continue for the foreseeable future. But the Kenya shilling which is up 12.8% against the dollar is up against almost all major currencies. Using the handy CBK exchange rate tool shows the shilling up 6.6% against the pound 1.2% against the Euro, 12.8 against the (Dubai) Dirham and 6.7% up against the Yen. The shilling is also 5% up against China currency (this year) which was not even tracked by CBK a year ago. In Africa, it is up 10.9% against the SA Rand, and 8.1% & 4.3% against the Ug and Tz shillings respectively.
The impact of a strong shilling can be debated, but is there anything that can be done about it, short of cracking down on the Diaspora, (going back to currency controls) or slowing the economy?
The Central Bank has already taken a beating for the shilling.
Opportunities
most from the daily papers this week
- Africa development bank: portfolio officer, private sector development, chief communication specialist (external relations &comms), ombudsperson, senior investment officer (investments & trading room – treasury), principal (infrastructure, regional integration & trade), principal trade regulation officer (infrastructure, regional integration & trade). Apply to recruit@afdb.org, by 30/11
- Africa online: group head of HR, group head of marketing. Apply to jobs@biz-deas.biz by 7/12
- Consumers insight: associate research director, senior research manager senior research executive, HR manager, front office coordinator jobs@ciafrica.com by 30/11
- Gro FIN – SME finance: business development managers in Kenya Uganda Tanzania. Apply to hr@grofin.com by 3/12
- Hashi empex: supply & planning manager, transport & logistic mgr, sales & marketing mgr, operations mgr. apply to hr@hashiempex.com by 7/12
- Housing finance: service delivery manager, credit risk officer. Apply to esd@deloitte.co.ke
- K-Rep bank: finance manager, regional manger (coast, nyanza, western, eastern, Nairobi provinces), monitoring & evaluation officer, microfinance officer intern. Apply by 7/12 though snail mail
- KTN on-screen talent search. Email screen1@eastandard.net
- Kenya film corporation : Internal auditor, communications officer, legal officer. Apply to info@filmingkenya.com by 30/11
- Business development manager at nation media group apply to bdm@nation.co.ke by 30/11
- NOCK: fuel business cared coordinator, alternative business executive. Apply to hr@nockenya.co.ke by 13/12
- Financial advisors at Winton investment services. Apply to jobs@wintoninvestments.com
tenders
- Resellers at Africa online resellers
- Malta Guinness business distributors for east Africa breweries d/l is 20/12- International tender from Kenya Pipeline Company and Kenya petroleum refineries ltd for an LPG import, handling, import, storage bottling facility. d/l is 21/1
- International tender for modernization of number plates by the Kenya Government (Office of the Vice president and Ministry of Home Affairs) d/l is 21/12
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8:46
I am rated…
» Me, Life & Everything Rendezvous: 1746hrs Prolixity: Short Mood: Disappointed Whereabouts: Work Echelon: IX Track: For Tania Maria, Michel Camilo Thanks to Udi’s post on the same i plugged in my URL as requested and i am proud to announce that: You may bring all your children, grandchildren, illegitimate children, nephews, nieces, among others to read this blog. Sisters, brothers, uncles and others, not so much. Shortly [...]
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8:17
End Month Randomness!!!
» My Life is...Mochalicious! Yep……the countdown to Christmas is here. I have been browsing the net for the usual stuff……to put together my wishlist for the season. Its long…..and I am still working on it, so come 1st Dec, it will be up here for those who are in a giving mood this season. Finally, The Apprentice has reached Africa. I [...]
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7:31
Opposition Parties Blocked From Holding Any Political Rallies In The City
» You Missed This 
Between now and the election, only PNU will be able to hold political rallies in Nairobi city and all opposition parties have been effectively locked out. This has simply been accomplished by PNU booking all major venues back to back between now and the December 27th 2007 polls.
This includes Uhuru Park, Nyayo Stadium, Kasarani Stadium etc.
There is of course nothing illegal about this since any Kenyan is free to book any facilities they so wish as long as they can meet the financial obligations involved. So is it a case of PNU outsmarting all the other political parties, or have they shot themselves in the foot. Only time and the results of the December 27th general elections will be able to answer that question conclusively. -
What Our Luo Brothers Need To Know Urgently
» You Missed This I have just completed weeks of a most fascinating research I have been undertaking. It has involved consultations with many of my contacts in the Luo community as well as research on the web.
My personal belief is that what I have unearthed is extremely fascinating and could hold the key to Kenyans understanding what is one of the most misunderstood communities in the country today.
However in making the series of posts that you are about to read I am not naïve and am well aware of the fact that many of our readers are not interested in spiritual matters and have very little knowledge of it and yet whether we are ignorant of it or not, it usually affects our lives in such a devastating and permanent way.
My strong advice is that those of our readers who will not dare delve as deep as we are about to do here should just ignore these posts and move on. There is plenty of other political news and information in the rest of this blog to keep you occupied, entertained and intrigued.
So that you may all understand my reason for undertaking this strange piece if research in the first place, let me start by pointing out that there are those who are convinced (including this blogger) that there has been divine...
Read more
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6:51
THE CRADLE OF MANKIND; EAST AFRICA
» Kenyanpoet THE CRADLE OF MANKIND; EAST AFRICA
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5:16
Customer Deposits & CMA Perks
» KA-INVESTOR Of late, many banks have been publishing their Q3 results, which among other things indicate very impressive results. My main point of interest has been the growth in customer deposits graph that more often appears on the right side of the financial statements. Today I was looking at the Family bank results and I could not help noticing the upwards trend of their graphs. Most of them look like this:
Where has all these deposits come from? Ok you can say that many more Kenyans have bank accounts now days than they used to before. On the contrary, the number of banks has increased too. Banks such as equity, family bank and the recent entry of Islamic banks should have taken care of these extra deposits from former non-bankers. Even with increased remittance from abroad at least some bank will be showing decreased deposits as clients move from a bank they perceive to be expensive to the cheaper ones.
I’m not sure how they count their customer deposits but the vague idea I have is that they count the amount a customer has in his account at the time of making the balance sheet. I hope the deposit is not arrived at by counting the number of times customers deposit money in their account because this will not reflect the correct position of the accounts. What I mean is, if I deposit Ksh10,000 today and withdraw Ksh.10,000 tomorrow then bank the same amount the next day it would be wrong to say I deposited Ksh.20,000 in two days. In this case, if I do this the whole months it will indicate that I have deposited at least Ksh120,000 in that months. What is the case here?
Other issues:
Is Jimnah Mbaru insane or something? How can he open his mouth after attending a Ksh.1 millio-a-plate dinner to say that CMA staffs need huge pay hikes so as to retain quality staff? How can we pay the CMA chairperson Ksh.3 million per months for not doing anything other than what the government should be doing? For one thing, I believe the CMA is not big enough to warrant such kind of salary. Citing the Kenya anti corruption boss as an example was worst thing he did. KACA is a political post that I strongly believe should be done away with as the organ does nothing, and I hope CMA is not trying to emulate them. CMA need to do exemplary work first before asking for bigger pay. What would be the difference between CMA and Parliament if all they both do is pay themselves well while doing nothing?
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END OF YEAR ART SALE! @ The GoDown Art Center
» Kenyanpoet END OF YEAR ART SALE! @ The GoDown Art Center
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