Drowning in Safaricom juice
8-8-08 is supposed to be a good luck date or something. 2008 has been a rough year for most companies since January. The Safaricom IPO was supposed to be the savior for investors, but has instead become an albatross on the Nairobi Stock Exchange
Heres’ my portfolio that has changed May 2008
The stable
Diamond Trust ↓
KCB ↓
Scangroup ↓
Stanbic (UG)↔
Safaricom ↓
What’s changed?
In: Safaricom
Out: Express, Sameer, Total
Increase: KCB, Safaricom
Decrease: --
Dividends Paid: KCB, Stanbic, Diamond Trust, Total, Scangroup
Unexpected gains (none) /loses everything else
Outlook: Shifted focus to banking and communications, and got out of manufacturing related stocks as the political and oil shocks continue to be felt through the economy. No foreseeable changes till next quarter, but will look at Kenya Airways if it dips lower.
