6 brokers on the
Watchlist according the Business Daily.
Bob Mathews - In trouble once. In trouble again?
Discount Securities - The owners tried to sell it at an inflated price but no-one bit at the time.
Reliable Securities - In the news before. Jos Konzolo was the former NSSF head honcho.
Crossfield - Securities - No idea.
Solid Securities - Now NIC Capital. An operational matter or a problem with the prior owners. NIC Bank has enough money to keep them in business. NIC owns 60% of SS but I expect an 'internal' Rights Issue will increase their stake.
Ngenye Kariuki & Co - A surprise on this list. It has been a 'steady' firm with a large retail base. The owner is a hands-on manager (unlike Nyaga Stockbrokers).
Does any one have more to add on these firms?
And a
new broker- Chartered Capital. Info from Bankelele.
I think the value of the 'licenses' will drop from the astronomical figures bid by Old Mutual (KShs 452mn) and Renaissance Capital (KShs 256mn). Rumours have it that there are another 4 new licenses waiting to be issued.
