The reaction of government hardliners to the dust ODM has kicked up concerning the Safaricom IPO is really fascinating. As I write this, I am still gaping in wonder.
Prof Peter Anyang Nyong'o: Why he causes so much fear within PNU
I had braced myself to see the entire PNU force coming out with both guns blazing. Woi! Nothing of the sort has happened as I write this. Instead what we have seen is a very polite and humble Amos Kimunya speaking with great restraint and respect to the PM emphasizing to the press that he did speak to Raila Odinga about the IPO and Raila Odinga indeed supported it, just last week. The truth is that neither Raila Odinga nor the ODM are on record has having denied Amos Kimunya’s well publicized statement at the time to the effect that they had met and discussed the IPO with the ODM leader. In fact Kimunya added a rider, to the effect that Hon Raila wanted to purchase the shares on the spot, if it were possible. That silence to Kimunya’s significant utterances must now be interpreted as accent on the side of Raila Odinga and ODM. Let us be serious here, folks. Please.
Interestingly in reply to one question today Kimunya said that ODM should be considered separately to the Prime Minister designate. Implying that Raila Odinga still supports the controversial Safaricom IPO.
The other government bureaucrats quickly fell on this administrations favorite “whipping boy.” They say, the law gives them no power to halt an IPO in progress. That one really made me laugh. I wondered why the same law does not stop the same government from banning matatus from the Central Business district and causing so much chaos as well as suffering to ordinary Kenyans as they blunder around for a solution. Can you imagine Uhuru Kenyatta saying; “The law does not allow me to stop any vehicle from coming into the CBD”? Interestingly, the latest drama in this CBD circus is the fact that although buses are supposed to ferry people from Muthurwa to town it takes ages because
PNU are saying that they have no way of stopping the IPO from happening even if they wanted to and whose fault is it? Why, the law of course!!
So why is it that that I sense desperation here? Why is it that I even sense fear? Fear that the lucrative (for a few) IPO may actually be halted. Nay I sense panic. And why, I pray to ask, has this Safaricom IPO been speeded up at such breakneck speed? Approvals and hurdles have been cleared in record time and it is scheduled to launch this Friday.
This thing reminds me of my days as an employee when people in the office used to stop everything to help speed up the accounts department and the endless procedures so that the salary cheques could be send out early. This is further evidence even for those who have a terrible cold and have lost their sence of smell, that there is a terrible odor coming out of this Safaricom IPO. All Kenyans of goodwill should stay clear of the thing. Anybody who cares about