| Courts getting closer to people, says CJ Story by NATION Correspondent Publication Date: 1/17/2008 | |
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17 items tagged "Rant"
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17:17
Another "What The Fuzz" moment...
» Rants, Raves & Reviews -
Economic Losses Mount for Kenya
» Rants, Raves & Reviews In spite of various "all-is-normal" pronouncements by the (possibly illegitimate) government, Kenya has & will take a HUGE hit in 2008. I wonder if these "ivory-tower" mandarins, who get huge salaries no matter what, live in the same Kenya I do?
I can't go in much detail but I will highlight the major issues as I see them. Keep in mind Kenya is/was a US$12bn economy. KShs 780bn.
Tourism- Cancellation of charter flights. Loss of immediate tourism benefits esp at the Coast.
- Many charter firms will adopt a wait-and-see approach just as they did in 1997. Some may NEVER return. This is a long term loss.
- Hotels are almost empty. Whereas January sees 70%+ occupancy coz its winter in USA & Europe, the maximum seems to be 35% for "new" arrivals. Taking into account that some hotels have closed that means true occupancy (vs available beds) is closer to 20%.
- KQ loses traffic both local & European traffic. KQ has been growing rapidly since it was privatised. This may be its first year that it sees a drop in passenger & revenue growth. KQ - a Kenyan firm - contributes directly to Kenya by buying foods, blankets, services, etc from Kenyan manufacturers. Not to mention Kenyan staff.
- Many Game & National Parks are no-go areas for tourists. These include L. Nakuru National Park & Mt. Elgon National Park.
- Cancellation of conferences. Kenya was becoming a preferred destination for these regional conferences BUT there are other options e.g. Uganda which has recently built 1,000s of rooms for CHOGM.
- Kenya's #1 forex earner about to drop a few places. Estimated losses in 2008 will be KShs 60bn. 7.7% of Kenya's GDP.
- Loss/waste of produce destined for Europe during the holiday season. This produce rotted as it could not get to the airport.
- Penalties for missed or late deliveries by the exporters.
- Ethiopia & Uganda will "eat" Kenya's lunch as European importers diversify their suppliers. Long-term damage to Kenya.
- #2 forex earner with substantial effects on the economy in terms of jobs. Losses could be KShs 40bn (5.1%). The loss of jobs & services associated with horticulture will just add to the misery.
- 100s (if not 1,000s) of cars, matatus, lorries & buses were destroyed. In Kisumu an entire car dealership was destroyed. This reduces competition among transporters.
- Kenyans will have to pay more to transport goods & people to Rift Valley, Nyanza & Western province.
- Damaged roads - in addition to the pathetic roads we already have - coz of idiots who dug trenches across them or blocked them with debris.
- Knock-on effect on everything. Cost of commodities, services, etc will all go up fueling inflation.
- Phone firms have losts sales & equipment. Hopefully, they will upgrade their equipment soon.
- The port is congested. This affects exports from Kenya. Goods in transit to Uganda are also affected thus denying Kenyans income & jobs.
- Increase in cost of basic commodities. Some of these "costs" will not go down. Inflationary pressures can be felt all over.
- Increased government expenditure on providing aid & relief to displaced victims.
- kibz announced relief packages to businessmen. I am worried that the funds will be wasted by (1) incompetent government employees (2) corruption (3) selected beneficiaries aka tribalism.
- Kenya govt will see cessation of donor aid. Whereas the budget might not "use" donor aid in its calculations, many projects benefit from it. These are projects the government has either ignored or not interested in.
- Increased gov't borrowing from local markets will crowd out the private sector.
- Huge potential payouts by insurance firms will affect the balance sheets of these firms. Some will collapse.
- Exports to COMESA & E.Africa accounts for 35% of Kenya's exports. Larger than any other region.
- Uganda is working with Tanzania to set up an alternate route for fuel imports.
- Kenya has lost markets in Burundi, Zambia, Rwanda & Somalia to others. The S.Africans are moving in. They provide stability that Kenya does not.
- Local manufacturers are stuck with goods they can't sell esp to the "opposition" strongholds.
- Exports have slowed down to a trickle due to transport restrictions.
- Many firms are laying off workers. Some had started hiring last year in anticipation of increased business in 2008.
- Many firms have been severely affected by the slowdown & are in trouble with the banks. They can't service their loans.
- I expect some bankruptcies in 2008. A real pity.
- Idiots burned factories & equipment in tea-growing areas. The loss of exports will affect Kenya.
- Farms are laying off workers. They can't process the produce coz the factories are damaged.
- Crops are rotting since harvested crops can't be transported to the buyers. This is especially so in the Rift Valley region. Losses all around.
- I have discussed exports above.
- Dairy farmers are losing KShs millions DAILY since they can't get their milk to the processors. KCC's Eldoret plant remains closed.
- They pumped in huge amounts over the past 2 years. Some of them will stop. Why build a house in Eldoret if it can be destroyed?
- Many invested on the NSE. Why do so if the growth prospects are diminished?
- Media - Politics is emotive & the media is taking full advantage. I am sure sales of newspapers, radio & TV ads have gone up.
- Building suppliers will start benefiting from reconstruction but it will be a slow process.
- Some firms will come out stronger as they will consolidate market share. This is a blow to a market economy by stifling competition.
Overall... Kenya is in a funk. There is hope but in 2009 & beyond IF there is peace. It is difficult to say what teh real growth will be but probably around 5%. The loss of momentum will affect us far in the future.
Oh, and the bloody MPs, ministers, prez & cronies continue screwing us for more while the economy shrinks. - Cancellation of charter flights. Loss of immediate tourism benefits esp at the Coast.
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The new Kenya - A Police State
» Rants, Raves & Reviews
WTF...
I am ANGRY... MAD at the current state of affairs in my beloved Kenya...
Is Kenya reverting to a police state?- The Election Commission of Kenya bans access to all independent media houses except the government/state mouthpiece KBC when announcing the general election results.
- The ECK declares kibz as the winner... fine... that is their mandate but what is pissing me off is NOT Raila's "loss" but the "state of emergency" that has been declared in citoes like Kisumu soon thereafter!!! Nairobi has been under siege all evening.
- john "the home guard" michuki has clamped down on the independent media. Live broadcasts have been banned as has coverage of politics. BULLSHIT...
- The police, GSU & army are being deployed all over. The bloodshed has started as many opposition supporters have been killed already.
Apparently ODM has announced a rally at Uhuru Park to inaugurate Raila as the "People's President" & a "parallel government". Are these signs of a civil war?
I fear there will be more bloodshed. The police, GSU & army are being deployed all over. And they are killing people; mainly opposition supporters.
I hope that ODM is not encouraging violent acts by their supporters. As much as ODM protest sthe alleged rigging, it is WRONG for its supporters to burn houses, loot businesses & cause mayhem. Yesterday's scenes from Kisumu were not about a legitimate protest for the truth but mere thievery.
I can't believe kibz who is considered a gentleman is allowing his advisers to run roughshod over him & other Kenyans. How can kibz - a relatively well-educated urbane person - allow such barbaric acts?
Rumors are that Raila has been arrested by NSIS. Any solid confirmations?
No wonder African countries are often portrayed as being UNCIVILISED... I do not care to be politically correct... If this is how the government acts then YES, WE ARE UNCIVILISED... Just watch the news. That which gets past the censors. It would not surprise me if the police & GSU are in the middle of murdering 100s of Kenyans.- Is 2007's Kenya any better than 1992's Kenya?
- Is 2007's Kenya any better than mugabe's Zimbabwe?
I was HAPPY/ECSTATIC/JUBILANT that we had (relatively) peaceful polls on Thursday. I was PROUD to be Kenyan. The maturity we the world that we are a peaceful civilised country. It was a lie that lasted but a day. Now, I cannot say the same.
P.S. I have had trouble logging into certain political/newswebsites. I wonder if the Kenya gov't can cut off internet access to the world. To the experts out there, please advise if that is possible? -
Safaricom (maybe) coming...
» Rants, Raves & Reviews First... SafariCon stays true to its name... truth in advertising is unknown to them... Customer Service is unknown... more later...
Now to their proposed Offer For Sale - not an Initial Public Offering that would raise funds for the firm - that will provide the current gov't with funds.
Rumours have been flying back & forth but the total value of the Offer could run from KShs 35 Billion to 60 Billion. Of this amount, healthy chunk 20-35% may be reserved for "foreign" buyers. My gut feeling is that it will tend towards KShs 60bn with KShs 35bn earmarked for "retail" investors. The balance will go to SafCon employees, dealers, foreign buyers, etc!
I think it is UNFAIR to sell part of SafCon to "foreigners" while Kenyans will be starved of shares. The mantra among the brokers is that Kenyans can't absorb 100% of SafCon. I say that is BULL****. After all it is mainly Kenyans (incl diaspora) & Kenyan residents who contributed to SafCon's success.
Considering the over-subscription for other shares e.g. Kenya Re-insurance & KenGen shows the capacity is there. KenGen raised KShs 27bn vs only KShs 8bn worth of shares offered for sale. All the GOK divestitures were oversubscribed including Mumias, albeit barely.
It is estimated there will be 1,000,000 CDS accounts opened by 24 Dec 2007 - elections be damned coz money beats politics! - & an average application of KShs 35,000 means a 100% subscription rate if the Offer is for KShs 35bn. SafCon has a huge reach all over the country & a low minimum application threshold will open the OFS up to many more Kenyans.
* Hundreds of thousands of Kenyans are prepared for SafCon's OFS with at least 10,000/- saved up.
* Tens of thousands of Kenyans have the "average" of 35,000/- saved up.
* Thousands of Kenyans have more than 100,000/- saved up.
* Hundreds have 10,000,000/- or more - going by Shareholder lists.
* Add the Kenyan Unit Trusts, Insurance Firms, Banks, etc who have 25,000,000/- & more to invest.
* 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" to Kenyans.
I think SafCon should favour Kenyan, then the Ugandans, then E. Africans... before the "foreigners"... -
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"!!!! -
More Corruption?
» Rants, Raves & Reviews 
Sometimes the unlikeliest sources uncover corruption!
Business Daily ran a story about the GOK moving towards issuing new driving licenses. I always wondered why GOK sticks with the old "booklet" system!
Now I know why!
The new cards are expected to save the State at least Sh100 per driver that is spent on printing of paper renewals every year. Philip Langat, a deputy secretary in the Ministry of Transport, says it costs Sh500 to produce one of the red booklets.
Yikes! We have thick textbooks that cost less to produce! We have micro-processors that cost less! We can buy SIM cards for less! We can buy 256 KB flash disks for less!
Or is someone skimming off the top?
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Why are we afraid of Egypt?
» Rants, Raves & Reviews Egypt has denied us (E.Africans) the use of water from Lake Victoria for decades.
Egypt builds a huge dam (which allows for loss of water by evaporation) but denies dams around rivers feeding Lake Victoria.
Egypt - mainly a desert country - has a jungle infantry battalion.
Egypt has "cheap" electricity & water by denying us the right to build hydroelectric dams & power plants. Uganda is allowed a dam because the water feeds the Nile.
Using COMESA, Egypt imports then re-exports sugar to Kenya at preferential tariffs.
Using COMESA, Egypt uses subsidies to export to E.African countries.
Screw the Egyptians. Let us do what is best for us.
What's the worst?- They stop buying Kenyan tea. There are other markets besides Egypt. As is, Kenyan tea is used for blending by India & Sri Lanka thus the Egyptians will still buy it!
- Stop KQ flying to Cairo. Well, more Kenyans visit Egypt as tourists than the other way round.
- They invade Kenya. Let them try! I have faith that Kenyans, Tanzanians & Ugandans will kick their arses back to the Red Sea.
Comesa warns Egypt on subsidiesBy Brian Adero
The Common Market for Eastern and Southern Africa (Comesa) secretariat has threatened legal action against Egypt over claims that it was unfairly subsidising its industries.
Secretary General, Mr Erastus Mwencha, says if accusations made by Kenyan industries are true, his office would take stern measures.
"We will act on the evidence brought," he said. "The issue of Egypt and the subsidy in today’s global talk are the core issues which need to be talked about. Comesa will take action against any member state found to be going against laid down rules. Under the World Trade Organisation, Kenya is at liberty to institute legal action in the event that there is proper evidence on the subsidies," he said.
He was responding to allegations by a director of Synresins Limited, Mr David Hutchison that Egypt was giving subsidies to a tune of $6 million a year to the energy sector to keep down costs of doing business.
Hutchison called upon the Comesa secretariat to put a tax on goods originating from Egypt.
"This issue of Egypt must be tackled by the Kenyan Government. The effect is gradually being felt by all industries in Kenya," he said.
"We have evidence to show that the Egyptian Government is subsidizing its energy and fuel sector by a factor of seven. Whilst kerosene is Sh55 per a litre in Nairobi, it is only the equivalent of Sh7 in Egypt."
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Healthcare (or lack thereof) in Kenya!
» Rants, Raves & Reviews A regular mwananchi dies due to the lack of basic drugs.
MPs & ministers in Kenya go abroad (& I am not talking of India) for taxpayer-funded treatment!
Nyachae in London for check-upBy Beauttah Omanga
Cabinet minister Mr Simeon Nyachae has flown to London for medical check-up.
A family member said the Roads minister left at the weekend, accompanied by close family members, for a routine check-up for injuries he sustained three years ago while exercising at his Nairobi home. When reached for comments by The Standard, the minister’s personal assistant, Mr Charles Birundu, confirmed the reports but did not divulge further information.
Nyachae was early this year quoted as saying that his doctors would determine his life in active politics. "I will go back to London in September for a final health checkup.
On whether I will be seeking to defend my Nyaribari Chache seat this year, depends on my doctors’ advice," he told a rally in Kisii last month.
One of the leading politicians in Nyanza Province, Nyachae is touted as a key player in President’s Kibaki re-election bid.
Already, there is anxiety among his supporters over his medical status.
"It is our prayer that Mzee is given a clean bill of health," said Kitutu Chache MP, Mr Jimmy Angwenyi.
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So how much moi and his cronies steal?
» Rants, Raves & Reviews We may never know the answer to the above question since there have been no serious attempts to find out the extent of corruption in & by the moi government.
The kibaki government has not made any serious efforts to find out the extent of the rot. John Githongo put it aptly when he gave the example of finding a skunk & keeping it!
Edward Clay was right. Many well-meaning Kenyans were upset at his words but they were either true or prophetic.
Here are a few links:
Guardian Newspaper
KCIG Blog
Wikileaks
Mars Group -
NSE is unfair to Francis Thuo customers!
» Rants, Raves & Reviews My primary source of information is from the Business Daily. I will revise the blog entry as as I receive more information. My comments are in RED.Cash payment to Francis Thuo investors explained 
Written by Geoffery Irungu 
Photo by: Frederick Onyango The Nairobi Stock Exchange blamed logistical issues for decisions to compensate investors of the collapsed Francis Thuo brokerage firm in cash rather than the equivalent value in shares.
30-August-2007: The Nairobi Stock Exchange yesterday blamed logistic difficulties for its decisions to compensate investors of the collapsed Francis Thuo and Partners Stockbrokers in cash rather than the equivalent value in shares.
Oh, please educate us... What were these "logistic difficulties"?
During a meeting with majority investors whose business was transacted through the collapsed firm, the NSE was put on the spot over how it picked on a day when the market was generally down as the value date for the compensation.
The meeting, which took place on Tuesday, saw the NSE admit that fraud was apparent in some cases where shares were sold by the firm without valid orders from investors.
If there was fraud why have no arrests or prosecutions taken place?
Why are the crooks being protected?
Who is shielding these crooks?
The criteria used to pay investors in cash at face value — with no interest or regard to the losses made during the seven months that the firm has been in business — had raised eyebrows soon after NSE announced August 17 as the value date.
The value date, if any, should be the date Francis Thuo & Partners shut down.
Mr Chris Mwebesa, the NSE Chief Executive, said the date was picked upon because that is the day when Renaissance Capital —which bought the Francis Thuo business for Sh251 million —paid their dues.
Well, since the NSE/CMA waited till it received KShs 251mn from the sale of the license then it reasons that the customers/creditors should receive a share of the EXCESS funds!!! Basically, the creditors "own" a company in bankruptcy. So the license (& monies from its disposal belong to the creditors!!!).
It was also the date the cheques were being written after the reconciliation of accounts relating to the investors through the insolvent broker.
He said 850 investors were involved and the payments were going on as scheduled from Monday and are set to be completed by this Friday.
Misunderstandings had arisen mainly because there were investors whose shares were sold by the collapsed firm without them having given sale orders.
There is no misunderstanding. I call it FRAUD. Simple as that! If I had shares held there simply because I need a CDS account does not mean I wanted to sell the shares. Replace the shares for shares!
The NSE boss said it would have been logistically difficult to start buying the shares again on behalf of the investors.
Nonsense! The NSE should give the customers/investors the option of receiving cash or shares. The NSE has a process of "buying-in" shares if not delivered by brokers. The NSE can buy these shares from the market & transfer them to the investors.
Mr Chandulal Shah, an investor at the NSE and also a consultant on investment matters, said that investors should have received shares instead of cash in cases where such shares had been ordered and paid for by the broker.
Damn straight! Mr. Shah is an experienced shareholder activist & is RIGHT!!!
Mr Shah said that those who had sold the shares of investors without their prior approval should be charged in court with fraud.
I see the hand of FT & Partners' friends in this matter!!!
Some members of the NSE are protecting one of their own including a silly suggestion that FT gets a "golden handshake" for committing fraud... WTF?
This may set a precedent where a thief caught in the act gets compensated for his "troubles" coz he was caught stealing! WTF (again)!
Although the money owed to investors was initially thought to be around Sh90 million it has since turned out that it is about Sh150 million. Mr Mwebesa said the bourse also has to compensate the investors for dividends and bonuses that had been dispatched to them through the stock broker.
Of course, investors should be compensated for bonuses & dividends!!! In fact, investors should demand interest on the cash & dividends!!!
The claims paid for included money that had been in the accounts of the investors, funds received from the sale of shares without authority and for shares sold but for which money had not been received by investors.
What about interest on the money? And at T-Bill rates!!!
Mr Mwebesa said those who had ordered for shares with the brokers but which had not been bought would receive the exact amount of cash they had given the broker.
What about interest on the money? And at T-Bill rates!!!
Controversy had arisen as to the criteria used to determine the August 17 as the date of reference when compensating investors as the stock market 20-share index had on that date lost nearly 70 points compared to the previous week, depicting a less attractive week to invest in the bourse.
Mr Mwebesa said the NSE had during the meeting asked investors to bear with them especially in view of the fact that the bourse had done everything possible to ensure that they did not lose any money.
Oh, please! What did the NSE do to protect the investors? The NSE was aware of the bounced cheques from FT & Co. The NSE knew that investors were not getting paid for shares sold!
The NSE abetted the fraud. As is the investors should have been compensated for the losses through fraud but neither the NSE nor CMA raised a finger to help them during the tough times! The NSE had the option to repay the claims of the investors through raising funds from their members but they did not!
He said that investors would ordinarily have been entitled to Sh50,000 maximum if the money had to be drawn from NSE’s Investor Compensation Fund. “The payments to investors are expected to maintain confidence in the stock market,” he said.
So the NSE is saying that to protect oneself against FRAUD, an investor should have no more than 50,000/- in a broker's account?
How can I have confidence in such a scenario?
I have a good mind to recommend ALL investors should hold certificates!!!
The SIPC in the USA insures investors for a minimum of $500,000 (KShs 33,000,000).
Finally... where is the CMA in all this???? -
Safaricom - 10% (not 5%) was stolen!
» Rants, Raves & Reviews
Mobitelea, a subsidiary of Thieves, Inc
The crescendo over the, mobitelea stolen indirect 5% ownership in Safaricom, is rising. What many commentators are missing is that it was 10% (not 5%) that was stolen from every Kenyan Man, Woman & Child.
mobitelea - often referred to as moi biwott telecoms of east africa - had stolen 10% but sold 5% in 2002 to its partners in bribery, vodafone, when moi's proxy was going to lose the elections.
The way I figure it out is that Vodafone bought 40% of Safaricom from GOK but had to cough up 10% to mobitelea as "grease" money. A pity but vivendi had to cut a deal with naushad merali (the ty"con") for the 2nd license.
Suggested remedy for the Public & Vodafone?
Well, vodafone should return the 5% to the GOK (to be sold as part of the IPO) for what they paid & a "fair" return. I can't blame them for buying what seemed a bargain. As part of coming clean, they should sell the 5% back to GOK at a discounted price to current market value.
The monies paid by Vodafone to mobitelea should be recovered from mobitelea by the GOK & vodafone.
Thhe 5% that originally "belonged" to mobitelea but then sold by mobitelea to Vodafone.
What of the 5% that still "belongs" to mobitelea?
daniel moi & biwott will support kibaki in the 2007 elections as long as this thievery is kept under wraps!
We need to go after these crooks & retrieve the stolen 5%. As well as any dividends made to them! The 5% are stolen goods!
FOLLOW THE MONEY... -
Why JKIA needs a 2nd runway...
» Rants, Raves & Reviews Sigh... I feel sorry for KQ among other airlines that suffer do to the stupidity reigning at JKIA...
Apparently, the JKIA management (what qualifications does muhohohoho have to be running the KAA???) believes one runway is enough... whereas for safety & efficiency there need to be be at least 2 runways!!!
Another plane burst its tires on the runway... I would like to know the cause (debris on the runway?)... and the airport was shut down. Again!!!
The other day the airport was closed down for 2 days since there were no landing lights!!!
A 2nd runway would allow flights to land & leave even if one runway is damaged or closed for maintenance or due to a crash/accident.
JKIA was built to handle 2mn passengers but handles over 4.4mn passengers. With the rapid growth of KQ & increased local airlines/flights as well as additional international airlines flying into nairobi, there is a need for increased capacity for the aircraft. -
Injustice in Kenya... Truth is stranger than fiction
» Rants, Raves & Reviews I have linked to www.vituvingisana.blogspot.com for this article... sad... real sad...
Is this what our country is coming to?
What was the point of "independence"? -
Where is the (Kenyan) Guy Fawkes?
» Rants, Raves & Reviews So the MPs who earn 120 times Kenya's Per Capita Income... want more money! I can't say I am surprised... just disappointed...
So the KRA taxes the poor mwanachi who makes 80,000/-... these bastards (the MPs) wants an additional 6.3 million !
Perhaps we will be saved by a Kenyan Guy Fawkes who will blow up the current parliamentarians... (Sorry about the violent thoughts but the recent proposal goes against the rules of justice & is immoral)
Perhaps, I should stop my whining & try to join the gravy train! So good people... please vote :
COLDTUSKER for MP (constituency to be decided later) -
Can you smell a rat? (Kenya Re OFS)
» Rants, Raves & Reviews It is a foregone conclusion (unless something drastic happens) that the KenRe OFS (not IPO folks... even if the Business Daily calls it that but Business Journalism in Kenya is a whole new animal...) will be successful...
Nevertheless, the deception by the GOK is not a good sign of things to come... The GOK knew that Mumias 1H 2006-7 was relatively poor but they hid that crucial information until AFTER the OFS was over. The share price plunged to around 25/- in the aftermath.
So there is a forensic report that is being "hidden" from the public... WHY?
Kimunya claims that a copy was given to the Transaction Advisers but we are buying the shares. Shouldn't we know about the shenanigans?
From the Business Daily 19 July 2007: Mr Kimunya, however, maintained that the report had been given to all transaction advisors who had used its insights to structure the deal. “I am assured that necessary accounting provisions and adjustments have been made in the Reporting Accountants’ Report,” said the minister.
Why haven't the criminal suits against the crooks (ex-CEO & CFO) been fast-tracked since this is important to the confidence in the firm?
My advice is to wait till the last moment before purchasing shares in the OFS.- In case a major earthquake hits Nairobi where most of Kenya Re's assets are located i.e. buildings.
- In case some other lawsuit/evidence surfaces regarding corruption at Kenya Re.
- Try and gauge the level of interest thus applying for enough shares without locking up too much monies in the OFS since I expect a heavy refund.
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21:51
Vanity all vanity
» KenyanMusings This is a vanity post. If you came here looking for insights……go somewhere else. Not here.
Me and my Chap! OVER. Finished. Finito.
So anyway, I came home from a trip…….I have been up and about, losing stuff, travelling, then my sister was ill for a while in hospital and her hubby was away so I moved into hers to be around my nephew whose idea of dinner is cereal, sprite and playstation. Special.
Straight on to the vanity then.
Anyway, I came back from a trip and the chap picks me up and we went straight to the club where his friend was having a party.
34 years old….bleuurghhh, fossils all of you. Fekking pensioners, check into an old people’s home.
Anyway, my feet really swell when I travel, so I am always in sandals. (ughhh, pan to the head, why now)? And I was in slacks. Ughness. You will know in a minute why I mention this.I hasten to add, that my hair was bogus. Bogus. That’s all you need to know.
So, we get to the club, halafu, midway, this mama shows up. No names, but she is a famous Kenyan, hot like whuot and all that…smh, I only see her in the papers. So, ala! She is hugging my chap and going “ uhhhh, its great to see you, how have you been….you look good bla”. The usual you know.A little later the chap introduced me to her like “This is my girlfriend KM’ Tihi. She was nice you know, but in retrospect I remember the look she gave me. Like a “now you which garden did they dig you from and which cat dragged you in here?”
My god! Physically, the woman be flawless!! Makeup and weave in place, nails, skin, hair…halafu she had time to go dress up so I mean, she beat me to all vanities like heels and nice clothes and bag. Which sucks! I overhauled my wardrobe only a month ago, so I have cool things to wear dammit!
I shoulda gone home and powdered my stupid nose angalau!!!
Anyway, around ish Friday, I remembered and asked the chap “Oh, BTW, how do you know (hot mama herein known as heffer)”.
Soooo,, very nonchalantly, chap goes eti…erm, “we had a thing like 4 years ago”. Whuoooooooot? Auuuuiiii, a certain pain seared through my body and I felt my self combust.Whaaaat? A thing? WTF is a thing!?
Look, I know stuff about my chap that erm, I have had strangers walk to me and tell me. "Oh, that chap in a bad boy!".....then, "that chap is pussy whipped". How special. What can I say, Erm, rest assured I will not be asking you to dry my tears when he breaks my *whimper* fragile little heart. I have dated bad boys all my life. Why stop now? There is the thrill of 'breaking' them and of course, if they screw you over before you do *drat! don't you hate it when that happens!*, then tough luck, kwani what are the girls for?So me, aiii, ninyamaze nife….I started prying. “why did you break up?” “who dumped who?” LOL, you have to forgive me, at the mention of ‘thing’, I left my pride at the door.
So, the chap looks at me like he so knows he just opened a pandoras box.
Tihii no lies, but in my head, images those fekking red carpet and how beautiful people attract each other to propagate beautiful offspring and ensure continuity…killing me. Chap goes eti…..mwehehe “we were not clicking”. Let me ask...is that what they train you in 'how to effin trick your woman school?'
I throw him a that does not qualify as an answer look, so, Smh, I never said he is not smooth, he pulls me to his lap and goes eti ‘It was not even a relationship. We hang out for about 2 months” Ermmm, 2 months, Good ‘un. Feeble consolation there!? As in like that is a short time? What U be smoking chap?
Haiya, so me, I pried…and pried, and the chap was giving me politically correct answers Lol, like “we could not connect intellectually”, the chemistry was off” Rubbish! Rubbish!
So, I decided, ah, wtf, KM, go on, ask. So I asked *yes, I know, Hangs head in absolute shame* If erm, he told her he loves her or they had nicknames for each other. Weeeeeeaaaaaakkk!! I know!Mwehehehehe, because he is special like that, he said eti “KM it was 2 bloody months! I don’t even know her middle name”. LoL. Dead horse. Sasa now what does a midlle name have to do with it?
Oh Lwad! I tortured myself you know? I bet he used to wear his thick black sweater..luuuuush, and she her perfect clothes, and they would walk holding hands and kissing kissing, and and *sniff*, I bet he would put his arms around her and go “ this is my girlfriend” , then they would make each other laugh in their perfect little world, and she knew which deo he uses and his favorite food*dies* Halafu, I bet her pancakes were ready in the middle and he did not have to come help her mix the batter. *scratches head, takes a swig of muratina*. I wonder if he would suck her toes and and touch her oh-so-perfect face kila saa. Ugh!
You know how you meet people your chap dated and you look and go “feh! She has nuthin on me that”. I bet that’s what the heffer thought. OF ME.
Anyway, so I was retrospecting on things, like when I tell the chap he looks good and he pinches my cheek and goes “you are not too bad yourself pumpkin”…..I know why. Not too bad. That’s what I am. Not too bad. Like I have seen better kind of 'not bad'
Or, when he says “hi beautiful”, in his head it goes, ‘hi beautiful………..NOOOT” Think Borat. Vagine hanging like sleeve of a wizard. Lol, specialness that Borat.Or “KM you are 1 million women rolled into one” Rubbbish! All of it Rubbish!!
In short, really, my self confidence has shot to absolute shiet.
I know, I know, I mean, I have so much more going for me….NOOOT, but for once I’m like how now?Tyra Banks to Lucy Kibaki, LOL, how now? Kwani you have a deathwish?
So anyway, a while later I got ejected from his lap and he went like “Si even you you dated the chap who used to (insert shit-pales-in-comparison-activity like being the behind the scenes intern in Dunia wiki Hii). Weaaaaak! and yes, yes, I know the people at Dunia wiki Hii are human...just saying.
“I can’t believe you are actually reacting to something that happened almost half a decade ago” I was 29, what did I know about women?” Good ‘un. I’ll tell you what you knew….did it have to be her!!! HER!!!!?So, I called my friend and told her you know, that stuff, and she laughed like this loud looooong laugh and went “ngai Kamum! What’s he doing with you?”
Great. Just effin great!!I also ranted and raved to others until I got a “I have met her. She’s a tad ovverated”. Lol, A tad. There's another good 'un.
Bless.Contary to what this post will have you thinking, I’m not one to be bothered by looks, *sniggers* I would not say I look like an absolute shoe you know, but put me next to the heffer and intense, very intense surgery is my only way out. Plus, dare I mention the limb elongation vile I’m like 3 inches tall. Fekking midget.
Anyway, after thinking about it, Saturday Night when my baby left for a trip, I filed for a breakup…via text.
I hear its bad manners but argh, who will explain again now. Then I switched off my phone and got a “Quit playing KM” voice mail.I know, I am overreacting but *shrugs*, mwehehe, we all have skeletons in our closet…tihiii, my chap has heffer.
Halafu do you think it helps that my face has freckles from zits I irritated like last year, ok, week, year, who the fuck’s counting!!!. Mwehe, disaster is what.
I refuse to date a chap who dated that woman. Vain? Kwani is this that village thing where eti the chap marries the fuglee cos she has a nice heart? Rubbish! Halafu that being with somenone because they have a great personality is bull right now since some chap I used to see erm, attacked my personality. He had the nerve to accuse me of **rolls eyes** “you played me and you were very good at it” There’s another one full of rubbish! Whuot? Wow! For a minute there I had forgotten the pain I felt when he twisted the serrated knife he had firmly lodged in my back. Ngutness me!
His nerve leaves me stupefied to date. What can I say? Its like those pickpockets who steal your bag, theeen start screaming thief. AT YOU. Before you know it, you are a tyre rim and you are being doused in paraffin for your final destination. Special.So Smh, si now I have taken the walking papers. I thought I found perfection until I discovered what it dated! Wacha tu! Sniff. I will;
-Enroll to extreme makeover
-Practise posing for the camera…Lol, weaaaaak!!!
-Up heels to 7 oinches or see about limb elongation
- Get weave/wig *dies* Auuuuuiii, me in a weave. Nice. The damn guy cannot even stand weaves, well, he went livid when I took out my locs ala!…wtf! Well, that’s what they all say until the weave comes on Tyra or Shakira or Beyonce or (insert preference)!!!
So today erm, I * hides face* I googled her. Yes, I did. Then I started googling her with variations including my chap, you know like “heffer chap relationship” or “heffer chap in love” and in an insane moment "heffer broke up chap" Nuthin!!
Pathetic innit? I know. Here I cannot be helped. Go on, save yourselves. Let me stew in this misery.
Shame, I so dig him. Shame, I he does me too.
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Updates on the Service Industry...
» Rants, Raves & Reviews The "medical spa" industry in Kenya can get a huge boost by marketing Kenya as a "haven"... We can & need to move up the food chain from primarily "wildlife" tourism to more...
Why doesn't Kenya Airways (or some other airline) target Japan as a source for high-spending tourists! In spite of recent weaknesses in Japan's economy, the Japanese remain avid high-spending travelers! If this route is considered "unprofitable" the Kenya government should try to provide "benefits" for this sector. I do not support subsidies but surely how about a discount on landing fees, fuel tax breaks & offering Japanese language courses in Kenyan universities?
Back to reality... All we have on our front pages is violence at the Coastal areas... violence in the Mt. Elgon area! Tourists from some countries e.g. Japan tend to prefer "safe" locations. Though these clashes do not affect most touristy areas, the "exposure" can be scary!
If we do not clamp down hard on insecurity & land rights... we can't project an image of safety for tourism. Violence can happen anywhere, anytime e.g. the Virginia Tech shooting but violence should not be a constant as seems the case in Kenya!
There have been killings & arson aplenty in the Banana Hill area...
While all this is going on, the Kenya Police spend valuable resources questioning The Standard about some story on the artur brothers while Kenyans are murdered in cold blood...
Sigh...
On a lighter note... I am surprised that Kenya doesn't have a condom factory... esp with Kenyans professing to be (very) sexually active... or that's what one would think listening to the guys at any drinking joint in Kenya... I wonder what flavours... My favourite is Passion... yes, pun intended...