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3:53
Urban Inflation Index: March 2010
» bankelele Urban Inflation Index: March 2010
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17:15
A new constitution this year
» Kenya Imagine Even the most dyed-in-the-wool pessimist might now begin hoping that Kenya could have a new constitution before the year’s end. Op-ed pages in most Kenyan publications indicate a general enthusiasm for what has come our way from the latest Naivasha process, with some hailing it as modern and progressive.
More... . -
Addressing the Senate and Devolution
» Kenya Imagine If the Committee Of Experts has decided to eschew the Parliamentary Select Committee's (PSC) proposal on the makeup, role and functioning of the propose senate, as has been reported in the press, and has instead recommended an empowered senate with legislative powers and directly elected members, the question that presents itself is what will become of the PSC's proposal on devolution.
Read here, as Jones Mereu challenges the creation of a devolved county (unit) with only administrative powers. -
From Imperial President to King: a people betrayed
» Kenya Imagine Members of Parliament have betrayed the people of Kenya, particularly the majority poor and exploited and the struggle for a new progressive national constitution.
No wonder the majority of the MPs that are tampering with the constitution in Naivasha have never been involved in the struggle for democracy in the country. They were part of the dictatorship that was opposed to democratic reforms.
While patriots and progressive Kenyans were being persecuted by the Moi and Kenyatta regimes for struggling for liberation from dictatorship, those who are now purporting to decide about the constitution for Kenya were accumulating wealth through corrupt deals. The few of the MPs at Naivasha that were reformers yesterday have now turned into opportunists and traitors and are either silent or collude with those who are manufacturing the constitution which Kenyans should reject.
Social Democratic Party chair Mwandawiro Mghanga weighs in on the Naivasha Consensus. -
The Hoax that is the Naivasha Deal
» Kenya Imagine The Parliamentary Select Committee is finally showing its true colors. It has shown that it can bastardize the people’s document to suit the narrow whims of just a handful of people in Parliament. The deal reached by 26 MPs in Naivasha is a hoax that Kenyans must reject even at the risk of not having a new constitution.
Jerry Okungu is not happy by the PSC's recommended draft constitution. Read on. -
Part II: PSC Scores a Victory for a Rational and Progressive Kenyan Future
» Kenya Imagine The reformation of our culture of politics, explained in Part 1 of this essay to be as important as the reform of our political institutions entails an analysis of how each of our other choices for institutional organization would work to curb the vices and weaknesses of our present political culture.
In this spirit, if we take a look at the particular form of hybrid government that has been proposed by the Committee of Experts, can it be in doubt that it does little to reform our political culture?
Continue reading. -
Part I: PSC Scores a Victory for a Rational and Progressive Kenyan Future
» Kenya Imagine The decision of the Parliamentary Select Committee on the Constitution to adopt a purely presidential form of government for the revised draft constitution, while certainly coming as a surprise to most, must nonetheless be heralded as a very important step towards achieving transformational change in our political organization as a nation.
Continue... . -
Egypt vs Ghana 4-0
» Kenya Imagine Admittedly, this is more a wish for the Nations Cup Final than a rational guess. Ghana's defence against Nigeria today did give a good account of itself, and for a team as decimated of its top talents as The youthful Black Stars, getting this far is in itself no small feat.
Read more here. And we are accepting sports commentary. Email us: editor [at] kenyaimagine [dot] com
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3:06
Lunch!
» tHiNkEr'S rOoM Due to some misunderstanding over instructions to do with apples, under the influence of a snake, man and woman have been consigned to a lifetime of toil. This has changed from hard days of ploughing through soil at the field to hard days of ploughing through the in tray.
Whichever Good Book you follow, be it The Bible, The Quran, The Talmud or The Hobbit, all of them have some reference to man being compelled to work hard if he expected to eat.
In this regard, a powerful ally exists in the form of the good lady whose official job position and KPIs have some references to her making tea for the consumption of the general office populace. In Nairobi, any tea lady worth her salt will diversify her portfolio and in no time will have a thriving business supplying captains of industry and go-getters with biscuits, ground nuts, samosas, bread, cake and other assorted snacks.
But despite her best efforts, after 11 o’clock the effect of her wares begins to wear out, and the working nation becomes listless and distracted, feeling an acute sense of something missing amidships. This hollow feeling intensifies and at 12:30 the weakest in the herd mumble something about stepping out for a quiet smoke or stretch of the legs and this begins the stampede for afternoon sustenance, better known as lunch.
When it comes to lunch, the primary deciding factor is the fiscal resources that can be commanded. Most of us are surprised and horrified that after what seems like ten minutes since the salary appeared at the bank, extra month has been tacked on to the salary.
As a matter of fact, as a general rule, by the middle of the second week proprietors of eating establishments with brick walls and running water nervously lick their lips in apprehension as lunch hour approaches.
After zealously reducing one’s salary to manageable levels (too much unfortunately) the eating establishment of choice is rather off the beaten path, literally and otherwise. Invariably this is a building constructed with corrugated iron sheets smelling powerfully of smoke. From inside come the happy shouts of comrades exchanging stories and grunts of effort from others with no time for anything but their meal. From outside carbon credits are consumed ferociously using roaring firewood and charcoal fires.
At the door there will be an ingenious arrangement consisting of a steel drum or barrel full of water suspended from a nail in the wall with a tap in the bottom. This novel arrangement serves as the plumbing for washing one’s hands.
The range of dishes lacks the variety to necessitate customer menus. The menu is therefore invariably written on a blackboard with the prices alongside. At a glance, the gourmet having effected an entry can adjust his tastes to his budget.
Among the choices are beef, chicken, liver and fish. The staple food, ugali, is the principal accompaniment. Generally, you can have your beef, chicken, liver or fish with anything, as long as it is ugali. I’m reminded of the time I asked a waitress for rice and she gave a gasp of surprise and retreated to consult with colleagues and ultimately with management.
Once you have reconciled the prices with the contents of your wallet, you shout your order to Maggie, the breathlessly enthusiastic waitress and take a free seat. You will find these places impossibly crowded, but there’s always a free seat somewhere. Generally, these establishments lack the office of the matire’d
Maggie will eventually appear with your meal, languidly arranging you vegetables with her bare hand as she approaches, hailing you with a happy shout. In a stroke of genius, to avoid the hassle of breakages, all the crockery and cutlery is stainless steel. She will deposit your meal on the table, sweep the leftovers from said table with bare hand onto a tray and move your plate in front of you, her thumb dipping into the stew in the process.
Those partial to fish will watch through the window as Omosh, the beefy man tasked with frying fish, goes about his work with gusto directly outside the establishment. Clad in vest, shorts and tyre sandals, the happy whistle of a man enjoying his work whooshing from his pursed lips, Omosh will twirl the fish slice like an orchestra conductor, sweat dripping off his face and arms and onto the soil and fish.
Omosh will then perform the task that he has been doing for eons and toss the ready fish through the window to be caught deftly by waiting waitresses on a steel plate. She will then grab a handful of vegetables from a large bowl, deftly deposit it next to the fish and then grab a dish of ugali and proceeded to a customer. Once in a while gravity may interfere with the system and a fish will come to earth. It’s best not to know where this fish ends up, but one is advised to keep both eyes open from order to delivery.
“Maggie”, I said to her one day. “There’s a fly in my soup”. Maggie laughed happily, clapped me heavily in the back leaving a large, oily and fishy hand print and departed, shaking her head and wagging her finger at me.
Needless to say the food is delicious. Gordon Ramsay and Jamie Oliver would have a rough time trying to appease us connoisseurs. You will lick your fingers, lick your lips and finally lick the bowl. Compliments to the chef are expressed by hailing Omosh loudly from his cooking station with thumbs up. Omosh will wipe his brow with the back of his hand and smile and as a bead of sweat drips from the tip of his nose into the sizzling oil, he will smile happily.
© M for tHiNkEr'S rOoM, 2010. | Permalink | 10 comments | Add to del.icio.us
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Interviews Volume I
» tHiNkEr'S rOoM Doing a straw poll with some of my peers in the industry, I discovered to my surprise that most of them approach the task of recruitment and interviews with horror. One of my colleagues actually grabbed the top of his head and gnashed his teeth as the word ‘interviews’ slipped from my lips.
I can’t entirely say that I blame them. Interviews in this day and age are a highly traumatic exercise for both interviewer and interviewee, as well as support personnel such as receptionists. It takes strong men and women of iron will and dispensation to carry out the interview process quarter after quarter and come away unscathed.
All of us have gone through the interview process.
It all begins with the hallowed document called the Curriculum Vitae. Like flies to week old beef, every office invariably finds itself flooded with these documents. Most are unsolicited. Secretaries watch the approaching mail room personnel with trepidation when they see several A4 envelopes in their possession.
They start off innocently enough. There is usually a cover letter introducing the author of the CV, and alerting the organization that due to some unfortunate oversight, they have yet to identify their acute need for the skills of the individual whose qualifications are attached. The letter reassuringly proceeds to let the reader know that it is not too late and the unfortunate state of affairs will shortly be corrected if the attached CV was perused and the author interviewed and recruited.
At this point the CV is detached and read.
This too starts off innocently, giving the name, contact details and some elementary qualifications and abilities, such as ‘reading, riting and rithmetic’. Just to make sure no assumptions are made, candidates also volunteer surprising details like binocular vision and opposable thumbs.
Next to The Lord of the Rings Trilogy and the assorted works of Enid Blyton, the qualifications and skill section make the CV one of the greatest pieces of fiction ever written. I keep a selection in a drawer for slow days when I need a light entertainment read. People can, and without shame, do say anything on their CVs. Modesty and reality somehow are relegated to the back burner after typing the phrase ‘Curriculum Vitae’.
I am reminded of one in which the author unblushingly mentioned being present at our independence celebrations in 1964. This fact however was incompatible with his stated date of birth on the attached copy of his ID card. If it was to be believed, he must have attended the celebrations as a vague idea in his prospective father’s head.
Authors generally give their actual qualifications and abilities a friendly nudge to stand out better in the spotlight. I have lost count of the number of self processed database administrators who subsequently displayed a spectacular ignorance of databases upon further prodding, or those proud of their 70 words per minute subsequently inquiring where the letter ‘x’ was on the keyboard.
Some authors are not shy to invent technologies and techniques as they breathlessly prepare their CVs. I like to think of myself as keeping current in the industry, but more often than not a prospective candidate modestly professes advanced skill in techniques and technologies that vendors have yet to invent and produce, let alone market.I recall with wonder telephoning one lady on the strength of her CV that informed me she was proficient in the use of Microsoft Windows 3000, an operating system I feel sure Microsoft themselves had not heard of. No, she assured me, there was no typing error. She has been using Windows 3000 for several years.
I have since learnt that whenever CVs are solicited in connection with a job opening, they are generally helpfully altered to make them more compatible with the requirements. I made this surprising revelation after I had advertised an opening on my team, and made a small typo in the advertisement. Out of the 14 or so CVs I received by lunch time, 5 of them had the same typo in the section for skills.
After the qualification and skills is a section where candidates articulate additional value that they will add to the organization.
The CV will invariably reassure the reader that the author is a team player, and works well under pressure. I have made a personal commitment to hire the candidate who states in black and white they are neither of the above.
Job applicants also have no doubt that they have good communication and interpersonal skills, and I am yet to come across any who feels otherwise.
And finally referees are put down. These are generally
• Principal of the last college they were in
• Lecturer at said college
• An uncle or aunt, preferably with a different surname from the applicant’sAfter digesting this, there comes the process of short listing and interviewing, which we will discuss another day.
© M for tHiNkEr'S rOoM, 2010. | Permalink | 7 comments | Add to del.icio.us
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Urban Inflation Index September 2009
» bankelele Urban Inflation Index September 2009 -
KPLC Kenya Power Rationing: Winners & Losers
» bankelele KPLC Kenya Power Rationing: Winners & Losers -
Real Estate Moment
» bankelele a series of real estate pieces
Real Estate Paradox: was with a real estate developer who’s looking to set up even more projects over the weekend; he talked about a paradox where real estate rental prices are dropping, while house prices continue to rise. Note: I’ve not seen signs of rental drops, but this probably applies to the developer’s current financial outlook when choosing to build for sale or to rent in Nairobi today
NSSF the Kenya National Social Security Fund NSSF continued a trend started last year of publishing their financial accounts. For the year to June 30 2008, they had of total assets of Kshs. 87.53 billion (~$1.1 billion), partially comprising 49% equity investments (43.7 billion), treasury bills & bonds (11.2 billion), and land & building 24% (20.97 billion) which was down from 29% the year before.
While NSSF’s investment income of Kshs. 5 billion was a 25% increase from the year before, poor returns in local shares at the Nairobi stock exchange have hit pension, fund, and insurance schemes leading them to seek greater returns and safety by investing in real estate. Yet the NSSF, because of its past association when it was a political cash cow and got saddled with unpalatable properties, is going against the popular grain, but has no choice even as it faces as long struggle to be viable safety net for retired workers.
Water shortage: dry water pipes in some Nairobi estates have been a pain to residents in some parts of town who have to buy water from vendors. Many construction sites even have to ferry in all the water they need by lorry seems to be a good business idea to have a water lorry now
Bricks & Banks: The new Equity Bank headquarters are now up in Upper Hill and UAP Insurance will soon be putting up a building in the area. On the Westland’s side its Southern Credit Bank and Standard Chartered Africa with new buildings about to be completed.
Cement & inflation: I’ve added retail cement prices to the inflation index starting with a 50 kilo bag of bamburi cement at 780 shillings (~$10).
S&L Gone: Savings & Loan is no more after KCB shareholders absorbed the subsidiary within the group structure as a cost saving measure. There was a nice (offline) article by Carol Musyoka in the Business Daily and she highlighted that S&L’s rapid growth was funded, not by deposits, but by funds drawn from parent KCB and wondered what return this was to KCB shareholders
Goodwill barrier: goodwill is a fee demanded by business owners from business tenants, shop owners etc. It’s a strange phenomenon; the fee, often as much a year’s rent, is paid before the building is even put up for the shop-tenant to secure space in the building. Another fee is paid each time a shop moves in or out of the building. This exorbitant business expense has put off many start ups and small business owners from renting or setting up shop in downtown Nairobi.
More articles on the goodwill phenomenon from Ghana, a Kenya forum and the Standard -
Kutwa Tuesday: From Stanchart to LPG
» bankelele stories found this week
Stanchart Bank:
Smaller profit - Standard Chartered is being much maligned for being the first bank to report a profit drop in 2008 of 4% to 4.7 billion shillings. ($59 million) (Increased 29% in 07). The bank which adopted a conservative approach compared to Barclays, KCB and Equity. Stanchart had asset growth of 9% to 99 billion (13% in 07), deposits up 4% to 77 billion and loans up 10% to 43 billion in 2008. Still their shareholders will get the highest dividend of any listed bank in 2008.
Here are some other performance comparisons of the main banks that have so far reported their 2008 results.
Goes for smaller customers - In a slight about turn, Stanchart has also launched a new low cost transactional account called Hifadhi, costs 2,000 to open, no ledger fees, or ‘cash handling fees’ with e-statements you only pay for transactions you incur, though its’ not as affordable as other 'cheap' bank accounts for small earners. Going for smaller customer has been a recurrent theme in 2008 with banks, insurance and investment companies lowering the minimum subscription amount. Examples are pepea from Barclays, Toboa from Old Mutual and even the Government of Kenya which lowered the minimum investment for GoK treasury bonds to just Kshs. 50,000 (~$625)
Bank briefs
- Stanchart get back to what they are good at – big corporate deals this one for Kengen
- Gulf African launches a shariah compliant mortgage scheme
- New bank branches: First Community bank now in Malindi, Ecobank in Kisii, while Family Bank re-opened in Githurai
- Another SMS sends Equity customers into bank panic withdrawals this time in Machakos.
From the blogs
Siasa mbaya, maisha mbaya: Global economic slump aside, Nairobi’s Stock Exchange will not see a bull run until the country’s political problems are sorted out according to MainaT
The Sunday Nation broke a story of the old Embakasi airport been handed over to an unlicensed new airline, but airport analysis comes from one Coldtusker
Following in the success of the infrastructure bond (over-subscribed by 45%), the Kenya Government is offering another bond to supplement its budget deficit; this one is for 8.5 billion ($106 million). More details from Conceptadvisoryservices and the minimum investment is just 50,000 ($625).
Kenya Rugby Effects: Kenya had a wonderful run at the IRB World Cup in Dubai, and knocked out defending champions Fiji in the quarter finals. Here’s some rugby loss reactionfrom Fiji.
Elsewhere
Employees lose & lose - it’s been a bad week for employees as the Employment Act was set aside and the government shifted more of the pension burden to civil servants to contribute towards their own retirement funds.
Madaraka finalized - Madaraka Estate houses were finally sold, apparently ending a long long running saga between homeowners, the City Council and the National Housing Corporation who should really update their website.
Laptop mania - so many offers for laptops these days, new this week were
- Safaricom selling Macbook with broadband modem for 100,000 ($1,250)
- Acer A110 laptop on sale with open office for $230 - great for Kenyans new to mini laptop market
- Even my bank/broker (CFC) hawks Acer Aspire 4710 and has loans that work out to 5,500 ($70) per month
Is Grad School a Con? - Half the Sunday Nation advertisements were for colleges aiming at the recent high school graduates whose results were announced last week. Also growing are the numbers of universities and master programs, but this article argues against going to grad school to avoid the recession with the author pointing out that;
- Grad school pointlessly delays adulthood.
- PhD programs are pyramid schemes
- Business school is not going to help 90% of the people who go.
- Most jobs are better than they seem: You can learn from any job.
- Graduate school forces you to overinvest: It’s too high risk.
(found at chris blattman)
LPG Shocker - when to buy cooking gas last night. Found the cylinder, however it appears that there is now a valve that will be mandatory on all cylinders from April 2009 - it is a universal valve, that will enable consumers to buy LPG /cooking gas from any supplier e.g. Kenol., Total, NOCK - replacing cylinders from any of them, since they will now have a common head/valve. The move is supposed to break the monopoly of established companies e.g. if you had a Kenol gas cylinder, you could only replace it at Kenol when buying new gas, whereas if you wanted to switch to Shell gas, you’d have to buy a brand new cylinder.
new gas cap
The problem was that many Total stations did not have the valve. (I checked at three stations) and they all sent me to the place that has everything in Kenya - Nakumatt. Nakumatt also say they stock valves for all companies, but only had the generic caps to sell. It’s scary to use a generic caps, since there are many fires in Kenya caused by exploding/leaking cooking gas cylinders. Hope this turns out ok when April comes around and more consumers realize they have to buy caps which cost anywhere from 500 ($6.25) to 900 shillings each, another cost to the burdened urban consumer. It would also be nice if oil companies and/or the Government conducted some consumer awareness about this matter, not leaving it to Nakumatt and untrained Petrol attendants. -
Urban Inflation Index: March 2009
» bankelele Changes in the three months ago since my last review in December 2008 and also compared to February 2008, which was just over a year ago.
In 2009, oil prices and maize prices have become the national talk as scandals, shortages, and price hikes have plague these industries causing grave concern that the country could be destabilized.
With maize, a shortage of maize flour on supermarkets coupled with shady deals were highlighted in the media all leading to a motion of no confidence in Parliament against the Agriculture Minister in February 2009. it was shot down
In oil/petrol, the collapse of Triton petrol, a small politically-connected oil marketer had ripples across the industry. The firm appears to have made a big gamble and purchased and stored excessive stocks in the expectation that oil prices would remain high, but when they dropped, the firm imploded and the chief executive fled to India. It has become a monster scandal with staff losing their jobs, banks suing the government (through the oil storage and pipeline companies) and calls for another no confidence vote in Parliament, this time against the Energy Minister.
changes in the last three months
Gotten cheaper
Fuel: A Litre of petrol fuel (at local petrol station) is now Kshs. 75 (~$4.2 per gallon) which is about 20% cheaper than it was 92.7 in December 2008. Shell Petroleum led the price drop, forcing other oil marketers to follow suit and probably did in Triton with their price cut in December 2008. Petrol was Kshs. 88 a year ago
Unchanged
Staple Food: Maize flour which is used to make Ugali that is eaten by a majority of Kenyans daily. A 2 kg. Unga pack at Uchumi today costs Kshs. 96, compared to Kshs. 97 in December 2008. However it cost just Kshs. 52 a year ago
Communications: Despite the presence of two additional phone companies, the mobile price war has cooled and calls cost about Kshs. 8 (~$0.10) per minute. With Zain, the price applies across all networks, but for Safaricom it's within their network only. New companies are offering gimmicks like Yu's Kshs. 0.50 per minute (after making calls for two minuets at Kshs.7.50). However other prices, notably in data and equipment (handset prices) have dropped. Safaricom modem’s cost less than ½ their introduction price, and features like Picture messaging (SMS) now costs Kshs 3.50 ($0.04) (it was introduced at 20) a year ago Safaricom calls were also about 8 shillings per minute
More Expensive
Electricity: my bill last month is Kshs 1,800 - slightly less than the bill a year ago. However by looking at the components that make up the bill - fixed charge is Kshs. 240 (was 175 a year ago), fuel cost adjustment is 427c per kwh (was 199c a year ago), forex adjustment was 63c per kwh (was 31c per kwh) - all causing my bill to cost about 70% higher than my approximate consumption a year ago. This is also a sore point with Kenyan manufacturers and industries who have complained (PDF) about the high tariffs even as Kenya power & lighting company announced improved profits for 2008.
Foreign Exchange: 1 US$ equals Kshs. 80.07, it was 79.08 in December 2008. Remittances to Kenya which have dropped every month since October 2008, are partly to blame. US$1 was 70.7 shillings a year ago
Entertainment: A bottle of Tusker beer (at local pub) is Kshs. 130 ($1.60) up from Kshs. 120 in December 2008. East African Breweries, Kenya's leading brewer, has complained about high input costs and new taxation, and for once their share price is almost as cheap as the recommended retail price of their main seller - a bottle of Tusker beer was 120 a year ago
Other food item: Sugar (2 kg. Mumias pack) is at 165, it was Kshs. 160 last December. 150 a year ago
EDIT: Also, more expensive is Housing - the rent was hiked 40% in January 2009; however that’s still about ½ what I’d be comfortable paying for a mortgage in the neighborhood.
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Cabinet Tales V
» tHiNkEr'S rOoM Kibaki: “Hizo mawezere wezere wezere wezere ….”
Karua: I beg your pardon?!
Kibaki: Bloody bure! I was just singing to myself
Mwakwere: Are you from Coast?
Marende: Order! Order! Any member can sing if he is feeling sufficiently philanthropic!
Kalonzo: It’s like I was telling my constituents the other day. A country is like an eighteen wheeled lorry painted green with “Rough Riders: Ride Or Die” painted on the rear windscreen with a colobus monkey, a banana and a rabbi in the front seat …
Charity: And?
Kalonzo: I forget at this point the point I was trying to make. But it was very important!
Mutula: Not as important as my proposal. I propose all roads be expanded as follows: One lane for the president, one for the prime minister, one for cabinet members, one for the police and fire brigade, one for left handed people, one for right handed people, one for people under 6 feet, one for people over six feet, one for people who watch Tyra and one for people who watch Oprah. I also propose that all roundabouts be expanded with smaller roundabouts being put inside the larger roundabouts.
Nyongo: (Sarcastically) Indeed.
Kimunya: If I may speak…
Ntimama: Quick! Someone please check that the chambers have not been sold to the Libyans!
Mwakwere: Are Libyans from Coast?
Bifwoli: Are we been served tea in this meeting?
Ruto: You and food!
Bifwoli: (Indignantly) Me? ME?! Look at you! You are covered by a very thin film of a powdery substance ….
Ruto: It is NOT maize flour! Besides, is it a crime to wallow, roll and swim in maize?
Bifwoli: Well ….
Kiraitu: Pff! Krrkmmzz. Grrggnnn
Bishop: Glowreh! Someone please help that Son of God from choking. Glowreh!
Karua: He’s not choking. He’s laughing
Nkaiserry: Is it just me or does someone here smell powerfully of diesel?
Kiraitu: Can you ngo srow on this matter. I don’t have anything to do with the fuel shortage
Sambili: Can we focus my friends. We have a crisis in Kenyan football.
Raila: You know, football is like a game of football.
Magara: Hear hear!
Poghisho: Focus everyone. Can we discuss the Hague?
Mwakwere: Bless you
Poghisho: But I’ve not sneezed
Mwakwere: Sorry. Go on
Pohgnisho: Should we support the Hague…
Mwakwere: Bless you! Is there a flu epidemic in the house?
(Ngilu whispers in his ear)
Mwakwere: Oh! The Hague! I get you, I get you. Is it in Coast?
Mungatana: Let us discuss critical issues affecting the country. Did you know that GTV folded last week and I had paid for 3 months in advance!
Raila: Who is Mungatana???
Ngilu: Can Saitoti have a written statement delivered to our offices by tomorrow on this matter?
Saitoti: There come a time! There come a time!
Nyongo: Tell it to the birds
Saitoti: Garment takes it very seriously…
Bishop: Government you mean
Saitoti:That’s what I said. Garment.
Mwiria: Can the Minister for Tourism explain why it cost the treasury 20 million for the President to go to the Mara? Outrageous!
Balala: The Honourable member is speaking from a position of disinformation. The president did not actually go to the Mara. We flew all the Rhinoceroses (or Rhinoceri if you prefer), Hippos (or hippi), Lions (or Lioni), buffalos (or buffali), Elephants (or Elephanti), impala (or impali), camels (cameli) and assorted birds TO the president. Mohammed and the mountain of you get me. Flights cost money, especially since some of us are storing fuel in a manner likely to suggest resale at a future date for an exaggerated markup. The flights are catered and you know how camels drink!
Ruto: Exactly. In fact maize was served on that flight!
Balala: (Modestly) My ministry was also able to move a river and a small lake
Mwakwere: If I may ask a question…
Nyongo: (Irritably) Are you going to ask if Balala is from coast?
Mwakwere: No
Nyongo: Good
Mwakwere: Are hippos from coast?
Kiunjuri: If we might turn our attentions to the tisha strike.
Beth: The what?
Kiunjuri: The tisha strike.
Beth: What is that?
Kiunjuri: My esteemed colleague seems to be wallowing in a fetid morass or ignorance if she is unaware that those of the noble profession entrusted with imparting knowledge to our youngsters have downed their tools in a sustained campaign for improved remuneration. There is a tisha strike.
Wetangula: You people missed history being made! When i was in America ….
Bifwoli: Uuuuuuwi! Uuuuuuwi! Wetangula is a tiktater! Wetangula is a titkater!
Marende: Order! Order! If Wetangula is feeling sufficiently philanthropic to go to America
Mwiria: And watch the inauguration from the top of a tree ….
Wetangula: That is neither here nor there. The fact is I watched it live.
Magara:We need to investigate if the Obama inauguration was in fact live!
Namwamba: Lucy Kibaki is the director of Freddie Mac and Fannie Mae. And Enron. And BCCI. In fact it’s no coincidence if you take the fourth letter of Hitler and add U, C and Y. Try it! Shocking stuff! A scandal!
Kibaki: Bloody bure! I’m making some changes. From now on you call me either Mr President or The Emilio. In two weeks one of you will be fired.
Bifwoli: Where’s our usual cup of tea?
Ruto: I have made arrangements with … er … a catering company that will be providing us with maize porridge until the next election.
Uhuru: My colleagues, the economic crunch is getting biting. Nowadays I am forced to share the same car as my driver! Outrageous!
Kalonzo: Given that Button Moon is about to come on in the next half hour I beg of us to close this meeting and our allowances to be paid.© M for tHiNkEr'S rOoM, 2009. | Permalink | 30 comments | Add to del.icio.us
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Urban Inflation Index: December 2008
» bankelele Four months ago last review (should be a quarterly exercise going forward) . 2008 has been a year with high prices and cost of living factors in the news. From the post-election violence in January to the (then) world oil prices, the pinch has been felt in Kenya.
The Government has come under pressure, but without addressing of its own excesses (procurement, new offices & limousines, parliemantarians, councilors and judges who refuse to pay income tax), has likewise tried to run the screw on the corporate sector - resulting in efforts to reduce the price of petrol and now maize flour (staple food)
Gotten more expensive
Staple food: Maize flour which is used to make Ugali, that is eaten by a majority of Kenyans daily. A 2 kg. Unga pack at Uchumi today costs Kshs. 97 which is 1/3 more than the Kshs. 73 four months ago. Farming woes continue, the crop this year is bad and Unga who said that they ran out of flour, among other revelations at their AGM, also stated that the maize harvest in 2009 will be worse and high prices will continue. There have been allegations of dodgy imports and the Government is today trying to arm-twist the price of Unga down to Kshs. 55 (EDIT – the Government announced today that maize will cost Kshs. 72 in urban areas and Kshs. 52 in rural areas)
Other food item: Sugar (2 kg. Mumias pack) is at Kshs. 160, up from Kshs. 145 three months ago. For Mumias customers and shareholders, the price is even lower for other unbranded sugar(s) on shelves.
Foreign Exchange: 1 US$ equals Kshs. 79.08, (18% weaker) than the Kshs. 67.4 four months go. This is partly the strengthening of the dollar, partly outflows from Kenya (at the NSE) - and comes after the shilling (while strong) had cushioned some impact of high oil prices.
Gotten cheaper
Fuel: Litre of petrol fuel (at local petrol station) is now Kshs. 92.7 (~$5.40 gallon) which is about 10% cheaper than the Kshs. 101.50 seen last time. While that is still higher than it was at the beginning of the year, and oil prices are down over 60% from the record highs of mid-2008, it is remarkable that for once fuel prices have reduced. In the past they have merely stagnated and oil companies, not passed on savings to consumers, but the threat of the government to regulate the prices, and a sustained media campaign (web/radio) has resulted in a slight reduction in petrol prices. (EDIT – A leading oil marketer - Shell announced today that prices will drop by Kshs. 15)
Entertainment: Bottle of Tusker beer (at local pub) is Kshs. 120 down from Kshs. 130 (cheaper by 8% from four months ago). Don’t know if this is one pub decision or the competition from new Summit beet launched by Keroche in October 2008 - the first true local competitor since (South African) Castle folded shop about six years ago. How will EABL fight back, and do they have to? Keroche got off to a good start but there has been little post launch marketing.
Communications: Continues to get cheaper as two mobile phone companies have become operational in the last quarter of the year – Orange (France Telkom) and Yu (Essar/Econet). The tone was set by Zain’s successful Vuka tariff, priced at Kshs. 8 per minute to call any network. Market leader Safaricom responded with Jibambie (up to a 63% discount) which enabled their subscribers to make calls at prices ranging from Kshs. 8 down to Kshs. 3 per minute if they bought a bigger denomination airtime voucher. The battle for subscribers is shifting now from voice calls which have reached unprecedented lows to data and money transfer where Safaricom is effectively Kenya’s largest ISP and money wallet.
No change: Electricity: My November KPLC bill is still Kshs. 1,900, same as it was in August, with a fuel surcharge reduction yet to be effected. High electricity prices have been a major cause for concern among Kenyan companies leading to President Kibaki to call for a reduction in the taxes levied on petrol prices and electricity.
But: Related: Is the quality of official statistics inflation data in question?
EDIT - Challenged by inflation, but with a view to improving liquidity, the Central Bank of Kenya today lowered the CBR rate (implied base rate) from 9 to 8.5% and also lowered the bank minimum cash ratio from 6 % to 5% -
Real Estate Moment
» bankelele Real Estate Moment -
$10 hotel room
» bankelele $10 hotel room -
Real Estate Moment
» bankelele Real Estate Moment -
Electric Shock
» bankelele Electric Shock -
Nairobi Expense Account
» bankelele Finally have one full year of data on expenses incurred. As part of an experiment I have tried to quantify daily spending over the last 365 days (and categorized them as follows)
Rent 37%, Investments 9%, Education 9% (bound to go up each coming year), Being a good guy 8% (Gifts 4%, Family 3%, Charity 1%), Fuel 7% (offset by more public transport use), Drinks 7% (socializing & entertaining), Dining 5%, Groceries 4% (not my docket) Communications 3% (take that Michael Joseph), Transport 3% (reading novels in the matatu), Utilities 3% (cost may double this year), Furniture 3%, Recreation 2% (I can afford to play more golf and get a decent handicap), Newspapers 2% (keeping up with politics & finance), Clothing 2% (FYI: Dr. Manu Chandaria only has 7 suits), Repairs 2%, Parking 1%, Personal 1%, Electronics 1%. -
Urban Inflation Index
» bankelele a week early, with some changes
Tracking prices of some urban commodities compared to six months ago and a year ago
Fuel: Litre of petrol fuel (at local petrol station) is Kshs. 101.50 ~ $1.50 (up 15.3% in ½ year)
6 months ago: Kshs. 87.99, Year ago: Kshs. 80.79
despite record world oil prices, government joint tender system has cushioned some impact on the economy – even oil companies are not celebrating
Staple food: Maize flour (2 kg. Unga pack at Uchumi) is Kshs. 73 (up 40% in ½ year)
6 months ago Kshs. 52, Year ago Kshs. 50
farming woes continue, poor crop expected this year
Other food item: Sugar (2 kg. Mumias pack) at Uchumi is Kshs. 145 (down 3% in ½ year)
6 months ago: Kshs. 150, Year ago Kshs. 150 Kshs
new minister trying to clean up notorious sector
Entertainment: Bottle of Tusker beer (at local pub) is Kshs. 130 (up 8.3% in ½ year)
6 months ago; Kshs. 120, Year ago: Kshs. 100
agricultural input costs rising, but post-budget sin tax pushed prices up. You need this to network in Kenya, or switch to Alvaro?
Communications: mobile phone promotion
This month Safaricom has Ongea tariff which has phone calls priced Kshs. 10 per minute all day, while Celtel has a Kshs. 3 per minute tariff (and with a conditional ‘free’ call package thrown in). Safaricom is also promoting broadband hotspots for the entire Nairobi and Mombasa areas.
- Six months go: Safaricom had extended the hours for Kshs. 8 calls on Saasa tariff, while Celtel had Kshs. 4 per minute calls to 3 preferred numbers
- A year ago Safaricom had Super Tariffic tariff which has calls 38% cheaper and SMS 30% cheaper than the previous tariff
mobile communications one of the few things that are getting cheaper
Exchange rate
1 US$ equals Kshs. 67.4 (shilling has appreciated 4.7% in ½ year)
6 months ago: 70.7, Year ago: 66.5
strong , but now sliding, shilling has cushioned some impact of high oil prices, but exporters are complaining
Electricity cost
New addition
My electricity bill in July 2008 is Kshs. 1,860
A year ago was Kshs. 995
Consumption was the same, the culprit was fuel costs adjustment which added Kshs. 820(649c/kwh) to my bill compared to Kshs. 200 shillings (170c/kwh) a year ago as KPLC recently increased the electricity charges which could have some adverse effect on the economy later in the year – already big manufacturers are investing in power plants and alternative generation sources. -
12 Free Things in Nairobi
» bankelele 12 Free Things in Nairobi -
Urban inflation index
» bankelele back to normal
Compared to a year ago
This shows that not much changed for those in Nairobi able to travel around and shop properly at Uchumi that life is pretty normal as far as shopping is concerned.
Litre of petrol: 87.99 shillings (~$5.50 a gallon) and up 18% from a year ago (then 74.29) when you drive around Nairobi you can get prices from about 85 to 92 this week For petrol prices, I have been tracking a brand name station that tends to have slightly lower prices than may parts of the city where the price is at around 91 shillings. And these are expected to go up this year as are electricity bills which are already being billed at 12% higher for residential house. Energy Minister Kiraitu Murungi sounded out another warning yesterday to petrol companies to adjust the prices downwards when international oil prices drop – but the companies have, over the years ignored previous warnings from Ministers and government officials, and not passed on any savings to motorists.
Maize meal ugali (2 kg. unga) 52 shillings (50 a year ago)
Sugar (2 kg. Mumias pack) 150 shillings (no change from a year ago)
Fresh food prices have gone up also. Milk and bread have increased by a few shillings depending on where you shop. The prices of vegetables have gone up, some even up to 4X what they were before the election, but vegetable prices are seasonal and once supplies and fresh harvest kick in, the prices should adjust downwards.
Tusker beer: 120 shillings at local pub - up 20% (from 100 a year ago)
some pubs experienced shortages in the post-election period until the only beer they were left with was Guinness
(Safaricom) Mobile phone promotion: a year ago Safaricom had introduced Saasa - with 8 shillings per minute calls during off peak hours. This year they have extended the hours that off-peak applies, while rival Celtel has lowered the bar with 4 shilling per minute calls to 3 preferred numbers
What i really want from mobile company is for one tariff to focus on cheap data charges – SMS, Internet browsing – while voice can remain expensive
US Dollar exchange rate: 70.7 shilling to the dollar - unchanged (was 69.97 a year ago). But this is abnormal as it does not capture the the strength of the Kenya shilling which had appreciated to about 63 just before the election – from December it has lost 10% against the dollar and 17% against the Euro (overall it is 15% weaker against the Euro a year ago. -
Urban inflation index
» bankelele August 07 – changes from 6 months ago
- Litre of fuel Kshs. 80.79 ~ $1.21 (up 8.75%)
- Maize meal (2 kg. Unga) 50 shillings (no change)
- Sugar (2 kg. Mumias pack) 150 shillings (no change)
- Tusker beer: 100 shillings at local (no change)
- Safaricom promotion: Then: was Saasa - with 8 shillings per minute calls during off peak hour. Now is new shape of Safaricom including a new Super Tariffic tariff which has calls 38% cheaper and SMS 30% cheaper than the previous Tariffic tariff
- US Dollar exchange rate: Kshs. 66.50 (5% weaker against the shilling)
- Plastics items are not being tracked, but milk and bread have gone up since the budget speech read in June.
Personal expenses
I tried using various online services to track expenses, but eventually fell back to Microsoft Excel and built a tracker that fit my needs. For July 2007;
- Rent 30% (high, but it’s safe and close to town)
- Charity 14% (one time event)
- Electronics 11% (new phone, but do I say)
- Fuel 8% (lower than expected, but my daily commute is short)
- Drinks 6% (Rather low, so should not feel guilty)
- Relatives 6% (unavoidable, non recurring expense)
- Investments 5% (should be higher, but there’s nothing promising till end of August)
- Dining 5%
- Parking 4% (take that Mr. Mayor)
- Newspaper 2% (rather high)
- Gift 2% (for every time I visit someone’s’ house)
- Utilities 2% (electricity & water)
- Communications 2% (mostly Safaricom)
- Groceries 2%
- Personal 1%
sports
- I love the new G TV advertisement which compares the three English premiership soccer packages
Get 3 games a month for 0 shillings i.e. Nation TV (NTV)
Get 6 games a month for $70 ~ i.e. DSTV
Or 32 games a month for Kshs 2,750 (i.e. GTV)
but this weekend, Supersport will show opening matches of the big four teams Liverpool, Arsenal, Chelsea, and Manchester Utd
-With all the fallout from the Hungarian Grand Prix, it should be pointed out (to non-F1 fans) that Hamilton started the fracas on Saturday when he deliberately ignored a direct order from Ron Dennis (team Boss) to let Alonso past on the track during the early stages of qualifying three.
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The Changing Face of Government
» Kenya Imagine 
The first time, Bitange Ndemo, Information and Communication PS responded to an article I had sent to the KICTANet mailing list, I could not believe it. I thought someone else was doing it on his behalf.After all, we are used to government officers who are such strident followers of protocol that even responding to straight forward questions is a problem. Clarifying issues is for them, a tortuous task from hell. So, for me to read from a Permanent Secretary explaining how I had left out vital points or misconstrued facts was amazing. He did not condemn, only clarified. He also encouraged dialogue, invited list members to ask, and he answered promptly.
Rebecca Wanjiku impressed by PS Ndemo's accessibility to wananchi. Read the rest here.
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The Standard: Outlandish Everyday!
» Kenya Imagine Every time a Kenyan journalist spends a stint in police detention, the whole of Nairobi goes crazy.
Fellow newsmen and women rush to Ground Zero to show solidarity. Human rights organizations and other groups come out of the woodwork, for a chance to exhibit what they claim is their undaunted support and commitment to the cause of democracy. Politicians, some with questionable human rights records, abandon their activities and run to the police station for the photo opportunity. The more dramatic they act, the higher the likelihood of their pictures ending up on the front page. They scream at and scold police officers, who in most cases are only following orders. They kick the gates open in clear violation of the protocol they demand the government use in summoning the press. They try any and everything that would earn them notoriety in the press - anything.
Edwin Okong'o criticizes the Standard Newspapers, on what he cites as irresponsible journalism.
