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22:18
From: Rants, Raves & Reviews
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OCHL has announced the Rights price at 14/- per share. I was expecting 10/- but the 14/- is a 30% discount to the current market price of 20/-.
The shares should trade Cum Rights for a few days until they trade Ex-rights but that need to be decided by the CMA, NSE & OCHL.
OCHL would raise a (gross) KShs 420mn if all the shares are taken up. The current "excess liquidity" on the NSE may bode well for them since the KenRe IPO was over-subscribed & the refunds should start flowing in soon.
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21:53
From: Rants, Raves & Reviews
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Considering Nakumatt's expansion plans across E&C Africa as well as its intention of going public in 2009... this seems an ideal opportunity to expand & gain instant market share in Uganda . Uchumi has one branch in Kampala but can ill-afford to expand further... After what seems to be another failed attempt to raise additional funds from existing shareholders, it may have to shut down OR find a strategic investor to turn it around. And just 10 years ago, Uchumi Supermarkets was one of Kenya's most profitable firms, under the then MD - Suresh Shah, paying hefty dividends... but it went downhill fast after chris kirubi & company took over... That opened the door for the rapid expansion of Nakumatt since many suppliers quit supplying Uchumi. Even though Uchumi has a branch in Kampala, the continuing inancial problems at home will affect them in Uganda... whereas Nakumatt is raring to expand in East Africa.
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19:49
From: Kenyanentrepreneur.com
Read This Entry & More At Kenyanentrepreneur.com
From the Standard:
“Chief Executive Officer Mr Michael Joseph on Friday contradicted the watchdog’s findings. “Safaricom has only two shareholders. These are Telkom Kenya and Vodafone Kenya Ltd. We do not know of any other shareholder”. Sure, Michael, sure (why does this dude keep messing with my intelligence?)
And where the heck are the The Guernsey [...]
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18:24
From: Afromusing
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MONEY
Last week i happened to catch a great report on NPR about Latin American immigrants preferring to move to Spain instead of the US. Why? Because…
Experts say one of the main reasons is the emergence of an entire industry of financial services catering to immigrants.
Ecuadorians are the biggest group of Latin Americans in Spain. And in Madrid and Barcelona, there are shops where they can pay for appliances and have them delivered to an address in Ecuador. One company is test-marketing ATMs that allow users to pay for grocery purchases, medical treatment or cell phones in Ecuador.
Lucia Jimenez recently visited a branch of Mundocredit, an immigrant bank set up by one of Spain’s largest banks. It offers no-commission money transfers and the option of getting a mortgage in Spain for a home in Latin America.
Jimenez said that she is thinking about getting life insurance that she can eventually take back to her native country, Paraguay.
I found this very instructive to Diaspora because remittances to developing countries are constituting a growing percentage of GDP, as evidenced by figures from around the world. Specifically about kenya, from Next billion, some stats
Kenyans in the diaspora are contributing an equivalent of 3.8 per cent of national income through remittances.
In the year 2004, for instance, Kenyans living and working abroad remitted about Ksh35 billion ($464 million), which overshadows the net foreign direct investment (FDI) of Ksh3.6 billion ($50.4 million), which accounted for 0.41 per cent of the country’s gross domestic product.
Point is, there is an opportunity to cater for immigrants in the financial services like the Spanish government is doing for the Ecuadorian immigrants. Its a powerful incentive to bank with a specific bank over another if a line of credit specifically for investment in one’s home country, and portable life insurance is available. There are myriad financial products for sending money but i am not aware of similar products for purchase of homes, cars etc in one’s home country. I have heard of people accessing the equity in their houses and using that to purchase homes in Kenya. I am not a finance wonk, but would appreciate input from those in the know.
COMMUNICATION
As noted by KP, Mama Mikes is running a campaign where you send airtime for $2.49 to Celtel, Safaricom and Telkom Wireless too. You can also pay for an electricity bill right on the website. It cost $9.99 - Decent price in my opinion.
CIVIC PARTICIPATION
If you aren’t checking mzalendo.com for information regarding your constituency, i am tempted to call you a bootleg Kenyan. I am just kidding of course, but seriously, there is lots of information there to stay informed even if you are miles away.
The Kenya Community Abroad issued a press release regarding the issue of Dual Citizenship and absentee voting, which you can read more about here. The world as we know (sorry to extend the much used cliche’) is increasingly flat. Dual citizenship and absentee voting IMO would be beneficial if not integral to Kenya. The inflow of remittance shouldn’t be the only welcome development, civic participation should be too. Mid last year I do recall Kalonzo Musyoka saying that if he were to become president of Kenya, that he would pass a presidential decree to allow for Dual citizenship. He even joked that if the Artur’s had Kenyan passports in addition to their Armenian ones, then really, isn’t it about time Kenyans got dual citizenship?
MUSIC, BOOKS AND ART.
There are still concerts happening around the US by African musicians, you can check if there is one near your city here. Ladysmith Black Mambazo is touring in September and Hugh Masekela’s remaining dates are:
Aug 31 2007 Tanglewood Festival, Lennox, Massachusetts
Sep 1 2007 Planet Arlington Festival, Arlington, Virginia
Sep 2 2007 African Festival of the Arts, Chicago, Illinois
Chris Abani, whose TED Talk is posted and highlighted by Hash, has several upcoming events in NY, Chicago, Vegas, DC, Minneapolis, Vermont, Miami etc. Check here if there is an event near you. I am hoping to read one of his books before i go for one of his events. His talk was very powerful. I recall just being transfixed by him when i listened to him in Arusha and again online. Particularly the part where he says that we as Africans need to explore what it really means to be African. I am simplifying a bit, but what i got from his talk is that we Africans also need to read our own literature in our exploration of who we are. I recall a post by David Seruyange about how some, if not most of us are mashups (David Seruyange has moved websites btw, so if you are a fan of his writing like I am, this is his new home), there is so much competing for our attention, but i think in order to be fully African (if there is such a thing) African arts, books and music help reconnect your being to that which is immutably you.
Move over Lion King! The Invincible Lions are the new game in town (scratch that…jungle).
Some great animations from Africa, click here for a post by Mweshi, highlighting some cool ones in the pipeline. I can’t wait to see these!
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14:17
From: Walk of Kings:
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You cant embrace the future and hold on to the past .A couple of months ago I started preparing for a move into a future I did not know. All I knew at the time was that my skills and potential were being wasted and I need a change . Through out 2006 I said the same thing over and over to myself but the thought of moving into something that was unknown kept me from making my move .
The funny thing is I have never made a move in my life that did not succeed .so it wasn’t the fear of failure that kept me from moving it was just the fear of the unknown and the comfort of my current position .Needless to say I kept putting off the move . I kept saying at the end of this month I will resign and move on .only to find myself coming up with a reason to stay . So while I was preparing for change and doing what I needed to do to prepare for the unknown I larked the guts to move . I set up all sorts of terms and condition to resign only to make more when those conditions were met . I will resign when I have x amount saved . When x amount was in the bank I would say I need another x amount . Funny enough the company got a new boss and soon layoffs were in the wax .First to go was my immediate boss who was the hiring manager .Then a few weeks later I was called into a meeting with senior management . Your position is being terminated ! You should have seen the smile on my face . Mentally and financially I was prepared but God had allowed circumstances and events to push me out into what I did not know .
Its been almost two months since that day . I am still job hunting but God has been taking care of me .My finances are still in very Good shape and my hopes are still high . Its funny how God watched while I larked the courage to lip .My faith would have been much stronger had I jumped and put my faith in God rather than being pushed . But I thank God because he is a God of wonder and second chances .When I needed a push He gave me a push .I can remember the faces on the people who let me Go the shock that I wasn’t angry , infact I was smiling because I knew God was up to something . Destiny was calling and fate was finally catching up with me .
Anyway You cant have what you want in life ,If you hold on to the past you are tired of . You might not get the chance I got when I was pushed to the unknown . You only live once take a risk and let God work it out .
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13:26
From: Me, Life & Everything
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Rendezvous: 2126hrs
Prolixity: Short
Mood: Drooling..still
Whereabouts: Home
Echelon: III
Track: Welcome to Detroit - Trick Trick feat. Eminem.
…on a well spent Sunday spent following the house mates in the Big Brother house, with sisters who made a quick job of my ‘fro as demonstrated at the end of this post. Those who like me were awaiting the shower videos, [...]
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11:58
From: You Missed This
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archiveI have just had a rather fascinating discussion with a Kenyan who hails from Nyeri. He got very upset when I jokingly declared that folks in Nyeri must be having it good just now. The stories he told me shocked me and I half suspected that they may not all be truthful, although deep inside I suspect it is all true. There was a time not too long ago when Nyeri was the bread basket of Central province. Folks were doing very well in this town. Now what has happened in the rest of the country has not spared Nyeri. People are desperate and ordinary folks are sleeping hungry. The rich tycoons in Nyeri are getting richer by the day, but the ordinary folks are getting poorer by the minute. Little wonder that the political temperatures in the place are extremely high as was witnessed by recent Narc-Kenya branch elections. Read more
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11:57
From: You Missed This
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archiveThe commercial pressures our press are experiencing just now with the rapidly diminishing disposable income around these days, was clearly evident in today’s newspaper. Yesterday there was a very serious landslide somewhere in Western province where some people have estimated the death toll to be over 50 people. The main newspapers ignored mostly ignored this big news on their front pages. The simple reason being (terrible as it is) it just won’t sell newspapers. Read full story of mudslide... Read more
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11:54
From: You Missed This
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archiveGuest post By Jerry Okungu Maputo, Mozambique Jim Hayo has been my good friend for many years. He is fun to be with particularly when one feels a bit under the weather. In his moments of excitement Jim Hayo can be extremely funny and entertaining. A few years ago, soon after the 2002 elections, I met Hayo and a few of my friends at a night spot. True to his character, he took the center stage to give us a few sideshows besides what took us there. He started talking about life after death. He also intimated to us that he was a firm believer in reincarnation. Fortunately, the four of us around his table were all Luos therefore we easily followed the sequence of his jokes. Hayo confessed to us that he was a very happy man. He was happy because he had come to terms with the reality of his condition! We got a little concerned and uneasy! What condition was he talking about? Did he have the big one? Two ladies sitting next to us were even more agitated. We held our breath. Read more
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9:00
From: tHiNkEr'S rOoM
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Old Is Gold ... Just be blueif you need to.A beautiful rainbowfor you to knowis not complete without the blue. Just be blueas you sit in your room.You need to knowthat beyond your doorI'm sitting there just thinking of you. Just be blueas you ponder anew.I’ve come to see,that to ...
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7:35
From: Bizmambo
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Mature business owners - entrepreneurs in the 40+, 50+ and 60s age group – are in a prime position to start up on their own after retirement from their mainstream career. Great ideas from experienced minds may be flowing, but without a good business plan format any new venture is much more likely to fail. Transforming your vision into reality begins with writing a small business plan, outlining your structure, costs and staffing, and making sure that your new business has the best chance of success from the outset! Writing a small business plan – tip #1. Outline your structure. Begin with the simplest ideas, using your existing knowledge and strengths, and start to build up your business plan format with the basics first. Think about how you want your new venture to run, how much time you’ll be able to commit, and what you ultimately want to achieve. Using a business start up kit is an excellent solution for new mature entrepreneurs. Writing a small business plan – tip #2. Investment and capital. Consider the financial side of your new business, how much money you personally have to start up with, and if you’ll require investment from elsewhere – banks or other lenders, venture capital, small business loans or even family and friends. When you’re looking at how to format a business plan, the financial side of your new enterprise is all too important, so making sure that you have the capital and investments in place from the beginning is an essential part of writing a small business plan. Writing a small business plan – tip #3. Running costs. Now that you’ve sorted out the initial capital, think about the day-to-day costs of running your new business. As well as the obvious overheads – materials, staffing costs and transport - remember to include the smaller items such as paper and envelopes, ink for your printer, telephone calls, internet and website charges in your business plan format. Writing a small business plan – tip #4. Staffing. No matter how large or small your new venture will be, you’re likely to need help with setting up or running your business, and this should be reflected in your business plan format. Consider the possibility that you’ll need to employ a few people, or if you’re working on your own, whether you’ll require to outsource some of your tasks, for example web design or copywriting. Writing a small business plan – tip #5. Operations, sales and marketing. A business start up kit for the home office could be a good choice when you’re moving into a new business after retiring. Planning the day to day running of your business, marketing and selling your product are all necessary components when writing a small business plan, so you’ll need good software to help you keep on track. Writing a small business plan – tip #6. Time. As a mature entrepreneur, you will no doubt have built up various skills over the years, which you will find invaluable when starting your own business. Keep in mind though; you want your business to work for you, not the other way round. Your business plan format should include the ability to automate and delegate tasks to streamline your business, giving you free time to enjoy the benefits of having your own company. Writing a small business plan – tip #7. Organization and vision. A key element when writing a small business plan is to ensure that the components of your business are neat and tidy. This includes files, documents, spreadsheets and software applications. Your business plan format must be adaptable, allowing you to change and grow your business in the future. After retirement from a regular job, forming your own business can be an extremely rewarding experience. Starting out in the right way when writing a small business plan will not only save you time and money, but will give your new business the best opportunity for success in the future!
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3:52
From: Cock And Bull
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“Everyone who has ever taken a shower has had an idea. It’s the person who gets out of the shower, dries off, and does something about it that makes a difference.”
- Nolan Bushnell
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3:41
From: Cock And Bull
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My auntie sounded distraught when she told me that her only daughter had gone back to the man who made her pregnant. This would have been good news were it not for the fact that the man was already married and that my auntie considered him to be one of those people often labeled as ‘no good’. The girl in her early twenties walked away from a well paying job in order to be near the man. When her parents asked her what she would like them to do for her, she simply said, “Just give my man time and he will get himself together!” They had hoped she would talk about a business, or something that would help her take care of her young baby. They think their daughter is just a silly girl making a stupid choice.
That got me thinking about people and the things that they choose. It is often surprising what others will choose. I know a woman who does not mind her husband having extra marital relationships simply because it makes her feel number 1 by virtue of being his legally married wife. Many women would not even imagine that such an arrangement is possible. Despite many men complaining about their commanding wives, some actually like it because it is that which keeps them on the move. Without their wives to tell them what to do, they just might end up lying on the couch for most of the rest of their lives. And yet, for some men it is the exact opposite since they have to be the ones to tell their wives what to do all the time.
I imagine that the reason why people will seek out some circumstances that we might consider unsuitable by our standards is because those circumstances take care of their need, some of which might be unconscious. Being that we might not see the need, we assume that they do not know what they are doing. And that would only be because we do not know these people well enough. So, instead of finding out the reasons why they made the choice, we take it upon ourselves to choose for them. In order for us to choose for those people, we first have to make them drop their choices through pleading, bribing and even force.
The issue of choice extends beyond an individual, for a society collectively chooses something others might consider bizarre. Take for example when people choose a leader that we consider to be a dictator. We might say, “No! There is no place for dictatorship in today’s world!” We will then mobilize our troops and dispose of the dictator and replace him or her with our own political appointee. But is that what those people need? Perhaps historical or cultural needs make it desirable to have that kind of a leader.
Just look at what is going on in Mogadishu. Just a few months ago, Somalia had suddenly become quiet after years of strife. A group calling itself Islamic Courts Union (ICU) had moved into the capital and managed to drive out all the warlords that had caused mayhem in the country for years. However, the ICU was not good enough since the ‘free world’ considered the leaders to be unsuitable since they allegedly sponsor terrorism. After using a neighboring country’s army to drive out the ICU, and installing a government that does not have popular support from the people in Somalia, the country is in an even worse shape that it was before the Ismalists took over.
How can we encourage people to use democracy, and yet refuse to recognize the leaders they choose simply because they do not agree with us on some issues? Isn’t that what happened when the Palestinians decided to vote in the hard-line Hamas party in government at the expense of a more liberal but corrupt Fatah party?
People will always have an excuse to justify choosing for others. My auntie said, “If it were not for the little baby, I would not care if my daughter went to live with that man or not!” Weapons of mass destruction, terrorism, dictatorship, babies, axis of evil: people will always have an excuse to justify choosing for others.
Whether in a group or as individuals, people have a right to choose. The reason is because there is a good reason for people to choose what they do and if we knew them better, perhaps we might understand. And even when the people have not chosen in a way we might consider acceptable, it does not mean that they will accept our mission of mercy to save them. Iraq is a case in point. The facts on the ground show that Iraqis were better off under Saddam Hussein than they are under American occupation. They had chosen to accept Saddam’s rule, just as they have chosen to reject the US solution.
It might be argued that we choose for others because we care. However caring would require understanding in order to help with a choice, rather than prescribe a choice for another. Consider this: Whether we are right or wrong, how does it feel when another person interferes with our right to choose? Shouldn’t we also respect the right of others to choose?
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3:31
From: Cock And Bull
Read This Entry & More At Cock And Bull
When I wrote yesterday that I did not know why little children have to die, I didn’t know that the thought would come back to me in the form of a memory of a long past event I had almost forgotten. The memory came when I was told that an old woman called Easter was buried yesterday at her home which is located near my upcountry home. That is when I remembered the day Easter saved my older sister from certain death in 1982.
At that time, my older sister was 12 years old. That morning, she left home by herself and decided to walk by a nearby river. Being epileptic, she got a seizure and fell unconscious inside the river. Easter happened to be working in a nearby field and rushed towards my sister when she realized what had happened. Fortunately, she was quick enough to fish her from the water before she drowned. My sister was unconscious for a long time, and at the hospital, I remember being very scared especially when my exasperated mother wondering loudly if she was going to live. She finally gained consciousness late in the evening and we all breathed a sigh of relief.
In one day, how does God decide who lives and who doesn’t. Picture an unconscious girl falling into a river in an epileptic fit and being pulled out before she could drown. Picture a perfectly healthy boy falling inside a hole and drowning before anyone can save him. How does God decide?
My sister has been epileptic since we were little children, and has survived many catastrophes that would easily befall a person with her condition. One of the secret worries that my parents have always had is about her well being when they are no longer available to look out for her. Would she get someone to marry her? Would she be capable of having children of her own? Well, she is not married yet, but has a beautiful 4 year old daughter of her own. God has continuously showered her with grace beyond anything we could ever have imagined.
She is now the only sister I have left after the older one passed away ten years ago, after a very short period of illness. It was very unbelievable especially since she was doing a good job as a nurse, had settled into marriage with a supportive husband, and already had a young son. I remember that on the day that she died, my mother wailed bitterly and questioned God, asking him why my sister had to die.
As human beings, we seem to think that we know who has a right to live and who deserves to die. For example, when a criminal takes the life of an innocent person, we condemn the bad person to die for killing the good person. When countries quarrel, the citizens of one country are armed and ordered to kill the citizens of another country. People even kill others because they disagree with their idea of what God should be or should not be. But God does not seem to follow our logic in deciding who dies and who lives.
Life is God’s to take, for He is the giver of life. We do not know the reason why He has kept us alive and taken so many others before us. That we are alive today, with all our imperfections is a mystery that we should always marvel about. There is a purpose to each and every person’s life. Let us not take our lives for granted. Let us not take other people’s lives for granted.
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