Kenyan made the
The
I am certain most of you will go out and buy Safaricom shares like crazy. But make sure that you remember to look in the mirror after applying for your shares. That is if you want to see a corrupt Kenyan Live (or livu as my Tanzanian brothers like to say) and at very close range.
And if you are against corruption then it is a good idea that you start your fight against the vice with the person you see in the mirror. That is one person who has the power to stop corruption dead in its’ tracks and what better place to start than to cause the Safaricom IPO to fall flat on its’ face.
In case you are able to sober up from your money-mania high for one minute, here are some 7 solid reasons why you should not even touch the Safaricom prospectus.
- Shares have to be purchased through stock brokers. Already two have gone bust, the latest being Nyaga Stock Brokers. Both collapses have had one thing in common; the stock brokers were trading in their client’s shares without the knowledge of the said clients. The hurred computerization of the NSE has made these games so easy, it is unbelievable and a big scandal on its’ own. And Safaricom will be the ideal share to play this game with, especially in the first few weeks of trading. Do you want to cheat yourself that only Nyaga Stock Brokers were playing the game of trading in client shares? In law two witnesses saying the same thing confirm a thing. In my book two brokers dealing in client shares confirms that this “disease” is rampant on the NSE. Right now there are 130,000 very upset Kenyans who may never recover their hard earned life savings which they handed over to Nyaga stock brokers in good faith. It is sheer madness that the government and Kenyans have ignored those 130,000 Kenyans in their greed to get to Safaricom shares. It is obvious that the thing to do would be to fix the rot within the NSE first before doing anything else, least of all launching the largest IPO in the history of Africa north of the
- By purchasing Safaricom shares you will be putting money into the pockets of the corrupt ghosts who own Mobitelea. We all know them.
- The entry of Safaricom shares in the NSE will affect all other shares currently there negatively, because of the sheer size of the offer. (Picture what happens in a village market when somebody floods the entire place with cheap but very sweet oranges. It will affect all other commodities in that market) The elite club within the NSE have already prepared for this and have carefully positioned themselves to make a killing as you struggle to make your few shillings from your few Safaricom shares. In other words you are being used as a pawn in other people’s schemes while cheating yourself that you are making a wise investment and that you will make a killing.
- Investing in the Safaricom shares is a statement from you that Turkwell Gorge was clean and so was Goldenberg and Anglo Leasing. Actually you will be saying that corruption is OK as long as you make something. Incidetally this is what got us into the crisis of last December in the first place. A sizeable number of Kenyans decided that it is OK to vote for corrupt governments and individuals as long as those people come from our tribe. In other words you are surely a tribalist if you buy Safaricom shares, because it is proof that you think very selfishly.
- Buying Safaricom shares will be a powerful vote against reform and against a new constitution from you. Thank you for voting, the government will happily hear you, because you will have spoken loudly and clearly.
- Those planning to get in quickly and then swiftly get rid of the shares soon after at a much higher price had better think twice. Do you think it will work with maybe a million other Kenyans planning to do exactly the same thing? People make money from stock exchanges by swimming in the opposite direction which is exactly the direction the fat cats will be swimming. I am talking about those guys Kenyans want to make even richer but already, to these guys, Kshs 10 million is loose pocket change.
- If you apply for those shares before the grand coalition government is in place, you will be making a very significant statement. Figure it our for yourself.
pastor chris, shares za safaricom mimi sinunui!!
ReplyDeleteRaila has not told us not to buy these shares. I trust his judgement more than anybody else. His silence regarding buying them means he is also buying. I don't want to let Mt. Kenya people be the only ones buying and benefiting from the stock market. So, if there is no guidance from ODM by tomorrow, I will be lining up to buy my own shares. Sorry Chris I have to disagree with you on this one.
ReplyDeleteIf the ordinary kenyans are not going to buy the shares, it will definately mean the capitalist sharks will have a field day.These kind of investors dont care about transparency you advocate in your article. Their bottom line is profit and safaricom is profitable company with high potential for growth.
ReplyDeleteIt is also expected the shares will be oversubcribed as has happened with past IPOs. Those who abstain will have no one to blame in future. Why dont we encourage small investors to try and close the gap between rich and poor
I believe what is on sale is government 25% of its 60% stake. I am not an expert in stock trading but i dont see how Mobitelea is going to pocket any money from IPO.
I was looking forward to buying these shares but something is very wrong with the whole IPO.
ReplyDeleteJust from last year
why the rush?
Why all the answered questions? why so much secrecy?
Who asked Kenyans and got feedback that they could only afford to buy 65% and 35% had to go to foreigners?
Who are the foreigners- Kimunya's , Martha's kids?
There are too many questions and the hurry in which the deal needs to be sealed is scary?
What dont we small people know?
I'm not so sure if Safaricom is such a good buy right now!!!
Poor Chris, you do remind me of John The Baptist preaching in the wilderness. I know your 'sermon' will definately fall mostly on deaf ears.
ReplyDeletePeople are so short sighted, almost blinded by pure greed. They don't care whether the ill gotten loot which will be made by Mobitelea will be used to finance a civil war in the future or not.
Although Chris' "I have a dream' speech is coming rather too late, he certainly needs applause for pouring out his heart and showing great love for the motherland. Kudos Chris! You really deserve a pat on the back. If you can convince even 2 people to boycott this IPO, you will have done your job!
It's so stupid and naive to think that this IPO is not tainted with corruption and irregularities. Personally I won't touch the shares with a barge pole. I would rather be seen dead than qeueing for those tainted shares.
Ironically, I saw a Matatu along Lang'ata Road this morning with a message written at the rear that..."Money is still the major issue!" I couldn't agree more!
M-Pesa.
Adding on to previous comments, its amazing that a majority of Kenyans would prefer to have all these questions answered or the IPO put on hold.
ReplyDeleteAt least 62% of NTV prime time viewers and 80% of KTN prime time viewers.
This i found somewhat disturbing, don't u think?
Thank you for saying it at last. I am with you on this Chris.
ReplyDeleteI am rating this as one of your TOP POST so far in 2008.
Safaricom’s role during the bungled elections; I may also add during the days when there was a media ban, this company Safaricom was used by Internal Security Minister John Njoroge Michuki to threaten Kenyans against communication amongst themselves...see my article then...
Safaricom Now Joins Partisan Politics
As I am writing this hundreds of innocent Kenyans are awaiting court charges of incitement to violence arising out of 'evidence' provided by Safaricom.
I am urging guys not just to ignore this IPO but also avoid using the Safaricom services and instead utilize Celtel which never experiences network jams nor breach customer confidentiality. Better still why not support Telkom Wireless (which luckily still remains a public corporation managed by very able Kenyans) and is offering cheap per minute tariffs plus free equipment??
Anon @12:56; the institution of ODM is bigger than Raila Odinga. ODM has spoken, the pentagon has spoken. Kimunya has spoken. Raila has NOT spoken, Kibaki has NOT spoken; what the hell, even Michael Joseph (Safaricom CEO) has NOT spoken. Like Chris says, figure it out for yourself.
Over subscribed? There's must be soooo much idle cash lying around in this great nation! I heard the "foreign investors" are actually Kenyans who have set up dummy offshore companies to milk Safcom for all it's worth. That they are Mt. Kenya Mafiosi to be precice! Some guys are just about to become even more stinking rich. No one cares in this dog eat dog society of ours. It's just about being rich, rich, rich and even more rich..at the expense of normal Kenyans who will be fighting for the crumbs! Why do Kenyans love being walked on sooo much kama carpet? shauri!
ReplyDeletePhil, this could be one of the "toppest" quotes this year...kudos!
ReplyDelete"..I am urging guys not just to ignore this IPO but also avoid using the Safaricom services and instead utilize Celtel which never experiences network jams nor breach customer confidentiality. Better still why not support Telkom Wireless (which luckily still remains a public corporation managed by very able Kenyans) and is offering cheap per minute tariffs plus free equipment??..."
M-Pesa
Anon at 1:09am these are some of the many ways that Mobitelea can make a killing from Safaricom shares at the expense of you and me;
ReplyDelete1. There is a possibility that some of the shares being offered to the public are from Mobitelea. I know the govt has denied this, but wait a minute is this the same govt that stole an election? Oh sure, they can be trusted... eh!!!
2. As a result of the public offer, if Kenyans let greed rule them and support it kabisa, the shares will probably be trading at Kshs 25 in a month or so. And so thanx to you wenye nchi, a fat cat who will have spent 100M on the share issue will sell and end up with 500M. Meaning that they can easily spare 100M for various activities against the interests of the Kenyan people like financing a private militia called Mungiki. And even after dropping that 100M, they will not feel a thing. Money earned easily is usually spent very carelessly. Remember that.
Another point. Assuming that Kenyans leave the so called "foreigners" to buy up everything, I don't see any regrets later. You are forgetting that real power is with the people of Kenya, they are the ones who make Safaricom profitable. I can assure you that those same "foreigners" will dump the shares pronto and at a price lower than the IPO one, if something small goes wrong. Get my drift?
Kenya belongs to the masses but the problem is that watu bado wajanita. Ama bado waja-get.
But soon and very soon...
P.S. My sincere apologies to all those young supus who have been promised a trip to Mombasa after the IPO. But I have a small ka-question for you... does your mum know who is taking you to Mombatha?
M-Pesa, Mrembo says no Chris says NO, Phil says No and i say NO way...So Chris has already gotten the pat in the back...Au sio
ReplyDeleteChris keep on keeping on, tuendelee na kazi, pls note sio hiyo kazi wanafikiria ya ulaghai, uwongo na ufisadi.....You know the whole thing reminds me of the story of Jezebel and Ahab in the Bible inspite of them having a whole kingdom they still went ahead and grabbed Naboth's vineyard...Ei kweli nchi ya kitu kidogo, the gava wants to grab even the little that i have!!!!
Chris i know this is on the wrong thread but i just have to release it here, since Uhuru decided to decongest town, my collegues who use outer ring road are fikaing job very late (mostly at 9:00am)coz most guys prefer outering road, juja road then town rather than Jogoo road.....Can they concentrate on one venture before they embark on the other, Kenya haitoroki it is still there, you dont have to mess people so that guys can see that you are working...Nimechoka, can Njoroge of Kabete hook me up with a visa so that i can also work hard in Nevada
Ivy
Porojo Na Ujanja
ReplyDeleteThat is the game in Kenya.
I thought initially of participating in Safaricom IPO, but I am moral and a sincere person.
Moreover this investment might fail dearly, if in a few weeks the owners of the MOBITELEA will be known. I am sure they are murderers, corrupt and MUNGIKI financers. I have decided to boycott Safaricom by destroying my PIN CARD.
Friends DO YOU WANT REALLY TO FINANCE ELECTION CHEATERS AND MUNGIKI FINANCERS?
LET'S ALL BOYCOTT SAFARICOM!
Who would have guessed that Kenyans would be back back to the polls barely two and a half months after the stolen elections?
ReplyDeleteYes the Safaricom IPO is an important general election in Kenya.
You buy the shares, you have voted for corruption across the political divide (believe it or not some people in ODM will make a killing from this IPO).
You stay away from the shares and you will have made a crucial vote against corruption that will affect your great grand children for years to come.
I have already told you how I am voting.
The decision is really very simple. Whom do you love more? The motherland or the Kenya shilling?
Good luck in making the right decision for Kenya.
-Kumekucha- for the love of the motherland.
IPO SAFARICOM
ReplyDeleteYou remember BIWOTT and his bank?
That's how you will lose your money, if you subscribe.
Telkom stake has been constant at 60% but the Vodafone Plc stake appears to have gone from 40% to 30% and then to 35%. It’s Vodafone giving up its Shareholding and not Telkom. So no problem/loss to us Kenyans.
ReplyDeleteMeaning that if there any questions about the ‘new’ Shareholder, Vodafone Plc and Arun Sarin (CEO) may be a good place to start.
The other thing is that Safaricom is a Private Company i.e. pre-emption rights apply.5% of it is Carte Blanche to stick up Vodafone for a large sum.
Mobitelea Ventures is partially owned or is known(to Vodafone) and acts in concert with Vodafone Plc in regard to Safaricom.
Kenyans gave Vodafone 40% and Telkom 60% in 2000.It still stands like that today.The shareholding change involving Mobitelea most likely occurs in the books of the Vodafone subsidisary.But Vodafone then decided to give a 10% indirect stake in Safaricom to Mobitelea through a subsidiary company, then buy back 5% from Mobitelea.
Legally, i dont think anything illegal was done and there's nothing much we can do.Since Vodafone r the guys who reduced the stake we gave them not us(Kenyans).
But the issue of reserving 35% of the IPO to foreigners is in an absolutely bad taste.Safaricom has been built by local subscribers and it's only the local subsciber that is entitled to the IPO.Let the foreigners buy when it's finally floated on the stock exchange.
Oh, cut the crap! Please have ODM boycott safaricom and we are home and dry! We shall get what we apply for! For once in your life, can you engage a financial analyst so that your financial ignorance is not sooo blatantly obvious! Ati you will tell who to boycott? No politician can tell me where to invest or not to! Can you people make independent decisions. Ama hamna pesa????
ReplyDeleteKAZI IENDELEE!
ReplyDeleteThis means corrupt way of life to continue.
Take the Uhuru's measure to exclude matatus from Nairobi CBD as an example.
Michuki and Thuo are scared that Kenyans and ODM will boycott CITI HOPPA. Uhuru now comes to their rescue. He bans other vehicles and allows only CITI HOPPA and a few others to enter the CBD. People have no choice and are happy to board a HOPPA. Intelligent?
A similar action is being planned in the banking sector. All Banks will be taxed heavily, but only EQUITY BANK will be exempted from taxation. Result: All banks will transfer their activities in the CBD and settle in the remote surbubs.
Every customer will be happy to get a bank closer to him: THE EQUITY BANK.
The same thing will be repeated in the milk sector, hotel sector, etc.
Kazi iendelee. SAFARICOM IPO is just the beginning. You havent seen yet.
Good work keep the heat on and let's see whether the PNU decide that it is after all in their interests to find out who the shady owners of Mobiletea are, especially as the obvious accusation is going to be PNU are protecting Mt Kenya fat cats! These shares were talked about on Bloomberg a few months ago and Westerners were being encouraged to buy into them because quick profits are there for the picking. Expect to see further privatisations on Kenya's national assets as European investors strapped for profits push for more.
ReplyDeleteSomething very fishy is going on here and the more noise about how it is that Mobiletea came to own shares in Safaricom the better. Kenya has said No to a stolen election and no to general elite thievery is being expressed by the likes of Chris here.
THese shares are undervalued right now but will soon be unaffordable to the ordinary Kenyan. If Vodafone already owns 40% are Kenyans happy to see more of their national assets in the hands of foreigners who are unaccountable to the electorate?
For your information, according to todays paper nation pg 2, Raila is quoted saying that "Safaricom shares should be put on hold until a new govt is put formed. He also wants Mobitelea Ventures ghost owners be revealed.
ReplyDeleteMr Odinga took issue with Kimunya saying he did not support the IPO.
Odinga said.."Mr. Kimunya is acting as if I have apppointed him my spokesman...I have a number of very competent spokemen and he is definately not among them"
Sasa... Kama Raila amesema hapan.. basi sinunui.. but If you miss the IPO. ole wako.. you will live to regret.. ITS MUST BUY. ZAK
Please ODMers boycott this IPO, As far as i'm concerned this is the best news to have come from ODM. We do not need this IPO oversubscribed hence a boycott will make me and other Kenyans a happy lot.
ReplyDeleteBuying shares is about making an good investment decision NOT a political one though political stability is important for a good investiment enviroment.
ReplyDeleteThe NSE comprise big investors from all political parties. ODM pentagon members only said there were issues that need to ironed out. None of them said they were not going to buy the shares or asked the public not to participate. Am sure most politicians are definately going to buy the shares. They were just making a political statement just to appear to have public interest at heart.
We all know politicians cannot make sacrife if the deal is good and they going to make money. I dont believe them or follow them blindly and that is why I am going to buy my small shares.
Chris,
ReplyDeleteIf I may ask, isn't it more effective to bring this up to the attention of shareholders of Vodafone in the UK who I know will not entertain their company being associated with questionable dealings. What you need to do is simply write to BBC/ or sensationalist press like the sun or to UK parliament. I can assure you if the facts stand up to scrutiny, it will be a hell of a fight to continue to mask directors of Mobitelea(sp?).
My two cents worth...
Ei yawa, Anon 2:36 it is your money, go buy the safcom shares, hata zangu nimekuwachia, Mrembo, Phil, Chris pia zao unaweza kununua...Hatutaki, go and buy then in the next few months you would have made a kill you will sell to us who are fools and cannot engage financial analysts in any meanigful financial matters conversation. Goodness si u have the nerve just coz we refuse to be hoodwinked you call us ignorant..."then people call themselves "hardworking" pliz give us another one....haha a collegue is telling me vitu za ubwete..whatever that is .LOL
ReplyDeleteIvy
Hey kumekucha people, let me first say that I'm an ODM supporter, in fact I was an ODM polling agent in Dec. About the safcom IPO, I see no corruption in it and I think people are reading to much into it, as someone pointed out above, mobitelia has a 5% stake in vodafone kenya and not safaricom, in turn Vodafone (k) owns 40% safcom meaning that mobitelia technically has 5% in safcom.The safaricom vodafone deal was made during the Moi error, so if Mobitelia was given the initial 10% (which now reduced to 5%) as a bribe so as to buy stake in safaricom, then the most likely beneficiaries were moi's Kitchen cabinet, the Kalenjin Mafia, and not the mt kenya Mafia (but they could have eaten something small so that they don't expose mobitelia). What I'm saying is that the anger is being directed to the wrong place, it's going to be hard to proof that mobitelia was given a bribe to allow vodafone to invest in kenya, but incase vodafone is found guilty of bribing, then they should be refunded the money the spent to purchase the 40% of safaricom. that way, Mobitelia will have lost too. Everything said, I'm buying the shares.
ReplyDeleteIPO SAFARICOM
ReplyDeleteYou remember BIWOTT and his bank?
That's how you will lose your money, if you subscribe.
@ 2:08 AM
You are very right. I lost 20000/=Sh to Biwott, after his bank collapsed. That was my 10yr' savings. I wish I had known.
But now I know. I wouldnt make such a mistake again.
Solutionobjects what can i say...."All the best in your new venture....Kila na heri and i mean it. To all bloggers i am granting loans for all those who want to buy shares at zero percent intrest rate, wacheni hiyo ya Equity...You will pay me what you owe me once you make a kill!!!
ReplyDeleteFood for thought Solution object if there is really no corruption involved, why is it so hard to tell us who Mobitela is? what is so hard? Just naming names Aha only that naming names i can do it for them free of charge!!!! No cost incurred...Kumekucha/NCEC and other civil society keep the fire burning!!!
Ivy
Right Solutionobjects! The sale of Safaricom was made under a Moi cabinet but it is PNU that refuses to put on hold the sale until the shadowy Mobiletea owners are revealed. I say keep putting the heat on PNU to come clean until they crack under the strain. To go ahead with the sale even under this cloud is a sign that they are not acting in good faith.
ReplyDeleteSince you mention here Biwott and his bank - but then also talk about Dalmas Otieno and his Thabiti Fincance Corporation with Oyugi (later killed in the Ouko-aftermaths) which collapsed in the late 90's with thousands of Kenyans loosing their money.
ReplyDeleteThe same Dalmas Otieno who as Minister of Industry then cheated in the Molasses Plant revival telling Parliament that it was not a 'viable' project.
And - most ironically - he is now one of the main players in the Odinga-Team having all of the sudden a respected and trusted 'friend'.
Co-incident? I doubt.
Chris, you forgot to mention that Safaricom is under intense investigation of fraud in the UK.
ReplyDeleteChris,
ReplyDeleteI think the safaricom deal is done, no matter what level of noise is coming from Raila psychophants. By Raila psychophants i mean this....if Raila wakes up tomorrow and decides Safaricom is a good buy, these guys will be telling us what a great guy, leader, visionary, investor, brilliant, etc he is. He will be the hero of the IPO coz its success can be traced to what he said. They will then proceed to give us free advise as to what a great buy it is. Why your unsolicited investment and morals advise now?
The last minute opposition to the IPO is just coz ODM can't get their way in regard to the cabinet, period! Its basically a way of holding the gun on Kibaki to agree to their demands....blackmail. This is what they are good at. But this time they will not succeed. Kama hutaki kununua safaricom, usinunue. You dont have to present half-baked arguments as to why we should not.
1. The fact that a few banks have gone bust in the US/Europe as a result of the mortgage crisis does not mean all banks are suspect. I have been in the market for sometime and i know my broker is honest coz my CDS account is clean. No need for undue suspicion.
2. Mobitelea IS NOT a shareholder in Safaricom. Actually the deal between vodafone and Mobitelea happened when NDP was cohabiting with KANU. NDP made the deal simple. What the Mobitelea guys have beaten you and me on is strategy. What is the colour of the money currently in your pocket? Where did it come from? Should a saved person buy EABL? You see, it all depends on your perception about money.
3. On the impact on the Safaricom shares on the market, you are spot on. This is the advise i have also been giving. Don't sell your current holding to buy safaricom. Look for other sources. You will be the winner. BUT i don't think anybody is being cheated out of anything.
4. Safaricom has been operating as a private company for so long. Can it's success be attributed to Turkwel Gorge, Goldenberg and Anglo-Leasing corruption? Are the 10 million subscribers related to this corruption? I think your argument here is far fetched and really targeted at the very ignorant.
5. Buying Safaricom is voting against a new constitution...? My argument above applies here.
6. Again kudos for the advice. Investing in shares is a long-term return investment. Do not get in with a view of a quick buck. Importantly, DO NOT BORROW to buy shares as the advertised returns are not guaranteed...see Kengen, Eveready, etc.
7. If you buy the shares before the cabinet is named, you will be making one statement... YOU WANT TO MOVE ON!
But will Kumekucha post this?
JEFF
When reading the today's comments, I went into the archives of Kumekucha and I found an article right at the start - on May 17, 2005, Kumekucha published it under the title 'We must face the root of Kenya's problems or all will be lost' .....
ReplyDeleteI suggest to all of you to read this - go to the archives on the right-hand side and press May 2005 .....
And just in case you ask: I am not Chris or Kumekucha - so hold your breath and read what was written 3 years ago here on this blog.
Chris,
ReplyDeleteIs it possible for you to compile a list of the top 50 wealthiest Kenyans???
Tutanunua hata mkizima taa. Its ma private investment n i wont let siasa ingilia ma bizna.
ReplyDeleteHere is a list (unconfirmed) of richest Kenyans:
ReplyDelete1).Philip Ndegwa family [ICEA, AM bank, Lions of Kenya insurance,Unga group, Riverside park estate,NIC bank,Mitchell Colts, Mackenzie Kenya,East kenya bottlers,Kenya national mills, Howse N Mcgeorge)
2).Manu Chandaria :EA match co, Kaluworks and the 2billion dollaz a year mabati.
3). Simeon Nyachea ( Kabansora, Prime bank
4) Anoop Vohra(Sarova Hotels/Athi river mining co [cement N minerals] / the Avenue Park estate
5). Kentan Somaia (UTC group of hotels)
6). 'sir' Charles Njonjo: (CFC bank, CMC, an 200 hao estate in Kitasuru- lakeside I think, it's right next to Kibaki's estate, Car & General, shares in BA, Barclays Bank & Standard Bank, Brooke Bond, Alico Insurance, Ibonia farms)
7).Chris Kirubi : International Life House, capital fm, DHL Kenya, Haco ind.[think bic biro pens,Gillett razor blades etc], Nai. bldg's, Uchumi shares......
8). Chief Samuel Koriata (The largest land owner in Kenya)
09) Duncan Ndegwa [Unga group, real estate]
[10]. Stanley 'Don King' Githunguri [Lilian towers, tassia coffee estate]
11] Gethere wa Mbugwa family (property in Nai & Mombasa)
[12] Da Gama Rose [computer applications/ grand total of 20 companies]
13] Laxmanbhai Raghvani (contractor))
[14] Naushad Merali :The Sameer czar N probably the richest Kenyan. Kencell, Firestone, Sameer ind. park, Ever-ready Battaries, Equatorial finance co., First Americn bank, Sasini tea & coffee, Ryce motors, Commercial bank of Africa, Marshalls etc etc......
14] The Ramji Shah & Jadavji Rughani family of Sarit Center and text book center
[15] Wilfred Murungi (Mastermind tobacco)
16] John Michuki [Windor hotel]
[17] Mike Maina (Arch Marble N pelican paints)
18] Adbul Jaffer
[19] Mohamed Zubedi
20] Jimmah Mbaru [Jimba group of companies]
[21] SK Macharia [royal card, ribshack, citizen group, AA (kenya)]
22] Lalit Pandit [EABS with assets of 10 billion built Akiba estate
N Fedha'the little lavington',EABS towers N Westminister House in Nai.,Akiba bank 2billion in assest N Mercantile life and General Assurance co.]
[23] Nicholas Biwott ( Lima ltd, yaya centre, Kengeles, construction, property ie he built Nairobi Dam estate, HZ construction, H young)
24] Hayer Bishan singh
[25] Baba Moi & Sons (Kenya) Limited. (half of kenya!. 2 many 2 mention)
26] Tahir Said Sheik
[27] Hosea Kiplagat
28] Mulji Devaj brothers
[29] Ephraim Maina (Kirinyaga construction Ltd)
30] HJ Paunrana Family (Athi river mining company)
[31] Mohamed said Bawazir
32] Nginyo Kariuki (Nginyo towers, hotel)
[33] 'Kinuthia young-trader' [Manga hotels, Hillock inn]
34] Maganlal Chandaria [not related to Manu] : comcraft ind. and madhupaper.
[35] Jerad Kagwana [the Mall, communication centre]
36] Munish Shah [Village market/ kingsway motors/ car tires/ Charterhouse bank]
37] Karanja Kabage [insurance/ KBS]
38] Haban Singh
[39] Philip wahome [Silver Springs hotel, Green hills hotel,Dreams 90,Cafe-D-Paris N real estate, continental bank]
40] Terry Childs (Brookside schools)
[41] Micheal Somen of Hutching Biemer.
[42] Udi Gechaga [Masharik Motors]
[43] Shaukat Noorani [Glory hotels, driving sch. etc]
[44] SS Metha (Construction tycoon)
[45] Nemubhai Shah [Nakumatt supermakets]
[46] Pius Ngugi [Amazon motors'vovlo',Norwich Union bldg., Stedler Pencile Kenya, Kenya nuts company, Thika coffe mills,]
[47] Wilson kipkoti [prudencial bank, standard assurance co.,hotel Sirikwa]
48] Ruben Block (Block family)
49] Kenyatta family.... (thru ENK Holding they own brookside dairy, the 1 billion heritage hotels group, presitige air, Village market, Commercial bank of Africa, pepponi sch., second largest land owners in Kenya, buildings in Nai & Mombasa)
50] Chief Lerionka ole Ntutu (another large scale land owner)
51] David Bowen (Kenya Charity sweepstake)
52] Andrew Muthama [minerals'jemstones']
53] Mulu Mutisya family [half of Ukambani land and every thing that's sold there]
54] Matu wamae [Ngong hills hotel, sera coating, dunlop kenya, coffee plantations]
55] Basil Critico ( land scale land owner)
56} John Kariuki N his brother James Kanyotu [the ex-special branch boss] [have interest in Sarova hotels, Kuni kenya, commercial bank of africa, firestone]
57] MA Bayusuf brothers [fleet of Haulage trucks]
58] Lord Cole (Africa Air Rescue)
59] Salim Alibhai (Salodin paints, Silentnight & Kenya orchards)
60] Davidson Kuguru (Kuguru Food company)
61] Martin Dunford [carni/ Termarid group]
62] Samuel Gichuru
63] Harbinder Seti
64] D*cky Evans (Homegrown)
65] Swale Nguru (mombasa largest prime land owner and easily the most richest man in costo)
66] Chuta's behind horticulture company KHT
67] Vora family (Sarova Hotels)
68] Sunil Behal
69] Edwin Yinda [Hardrock cafes/ shipping magnet/ insurance]
70] Gideon Toroitich (Moi's Nephew Agricultural finance Corporation)
71] The Akasha family (madawa ya kulevia)
72] Humphrey Kariuki [hotel Diplomat/green corner/ property]
73] Abdul Karium Popat [Simba colt motors/ Imperial bank/ 20th. century]
74] Kibathi family (sagret hotels)
75] Kenneth Matiba ( Alliance hotels, Hillcrest schools, College house)
76] John Harun Mwau (kidogo questionable dealer N wheeler)
77] Ngenga Karume: Cianda house., tusker house, coffee plantation,real estate, cianda flowers, clayworks, Jacaranda hotels[mayfair,molo highland inn etc],united finance ltd.......
78] The Kunyiha family {Coopers Kenya Ltd.]
79) Julius Gechau (interest in DT Dobie, Hillcrest group of Schs.)
80) PK Jani ( CFC Bank & heritage insurance)
81) Joshua Kulie (moi's business manager)
90) Kimani wa mbagi (Kenyatta's business manager) -(Agip house & property)
91) The Kantari Family (Prime Bank)
92). The shah family (I&M bank)
93). GK Kirima (property, half of riva rolly)
94). Joe Wanjui ( UAP Insurance, hotels, horticulture)
95). Samuel Gichuru ( KBS, chaka place,
96). Eric Kotut (Goldenberg money)
97). Chamanlal Kamanis: (kamson body builders & anglo licensing)
98). Kamlesh Pattni: (chief architect of goldenberg, Grand regency, Safariland, duty free kenya)
99). George Saitoti: (Goldenberg money, Sulmac, Property in Kileleshwa & Nyali)
100) Mohammed Sajjad (mombasa commodity trader)
Those who advocate abstaining from buying the Safaricom shares are engaged in siaza cha mifuko mitupu. They should keep their unsolicited poverty-inducing advice to themselves. Their ignorance is such that they don't understand that they are overreaching by applying fish-market analysis to the stock market. It is like a poor man telling a rich man how to handle money and investments. Ati Raila amezema hii na hii. Mutakufa maskini hahehahe mukifuata binadamu mwingine namna hii bila cost-benefit analysis!!!
ReplyDeleteAnd us Kikuyu's will continue getting rich as you continue with your propaganda junkie over here ..Kazi Iendelee
ReplyDeleteAnd the rest if Kenya will continue to get rich and tbhen 5 years later blame it all on Kikuyu for stealing and making you poor. Nitanunua shares zangu. Keep on spreading propaganda and you will die poor. Wacha sisi wakikuyu tununue kwani? I bet Raila has his squared away as you continue with your propaganda junkie you call a blog
ReplyDeletehis must be joke - don't tell me you are rating the Mois (father, sons etc.) amongst these crooks who have robbed Kenya of Billions of Dollars (yes, Dollars, not Shillings).......
ReplyDeleteThis list is done by some PNU-Associates - no doubt about that.
anon 9:18
ReplyDeletewhere are charles rubia, mwai kibaki, mwangi migwii and a few others. this is higly informative, thank you very much, can you expand the list to go up to 200 or maybe 300. i suspect after that everybody else is just a poor kenyan. interestingly or perhaps not so surprising, more than 50% of these chaps have been named in scandal after scandal. is there any way kenyans can gang up against these fellows and chase them from Kenya together with their families and close down their businesses after all they cannot be more than 1000. (the number of people who lost their lives in post election violence).
Chris banaa,
ReplyDeleteMoi inherited Kabarnet Gardens from the govt,how come issues like these has never been addressed???
Why should a tax payer be burden by someone who's getting 2Million a month???this is totally absured.Ati the fact that Moi never used the State house made him get a hand shake(Kabarnet House).I am so pissed off,no individual will or shall be given something that belongs to kenyens irrigardless of his status.Man!!!! we kenyans have been taken for granted for a long time.
Dispite the millions these people STOLE/STEAL and still they are not contented SHAME ON YOU LEADERS,THIS SHOWS HOW SELFISH YOU PEOPLE ARE.
Chris this is just how I take my anger out please address such issues.kenyans need to know and take actions.
u still moderating? Funda hii
ReplyDeleteBOYCOTT THIS IPO! IT IS COMPLETELY WRONG AND FULL OF CORRUPTION, WITCHRAFT AND EVIL SPIRITS.
ReplyDeleteEVEN ANYANG NYONGO - A WHOLE PFROFESSOR WHO HAS READ EVERY BOOK IN KENYA UNTIL FINIS - HE SAYS IT IS EVIL.
EVEN THE SPIRITS SAY MOBITELEA IS EATING THE IPO. WHAT IS THIS IPO ANYWAY? EVERY CITIZEN SHOULD BE GIVEN THE IPO - WHY IS MOBITELEA EATING ALONE?
THEY HAVE HIRED A POWERFUL SOCERER TO PUT ALL SHARES ON THE INTERNET. HOW CAN AN IPO BE APPLIED ONLINE? IT HAS NEVER HAPPENED IN KENYA. THEREFORE IT MUST BE CORRUPTION AND WICHRAFT.
WATAWEKA 10 BILLION SHARES KWA COMPUTA NAMNA GANI? ITATOSHA KWELI? IKO UCHAWI! SIAMINI. KWANI SHARE MOJA INA KILO NGAPI? KOMPUTA ITAKUWA KUBWA KULIKO NYUMBA KUBWA?
IF IPO PROCEEDS, WE WILL NOT SEND OUR CHILDREN TO SCHOOL! THESE SCHOOLS ARE FULL OF PNU EVIL WITCHCRAFT. NYONGO WENT TO SCHOOL AND FINIS AND CONTINUE AND FINIS AGAIN. HE HAS READ FOR ALL MY CHILDREN SO WHY PAY SKULL FEES TO PNU AND MOBITELEA? EVIL!
BOYCOTT!!! WE WILL GET CIVIL SERVICE JOBS FOR FREE - NO QUALIFICASON NEEDED. KILA MTU ATAPATA KAZI. EVEN RENT HAKUTAKUWA. TUTAKULA SISI SOTE!
KWANINI MOBITELEA ANAKULA PEKE YAKE? MOBITELEA IS RIGGING THE IPO JUST LIKE PNU STOLE THE ELECTIONS. THEY WILL STEAL THE IPO. ALREADY IPO BALLOT BOXES HAVE BEEN MOBILIZED UNDER COVER OF DARKNESS TO VARIOUS STATSIONS IN CENTRAL KENYA. RIGGING!
WHO IS MOBITELA ANYWAY AND WHY IS HE EATING THE IPO? WE SHALL TAKE TO THE STREETS AGAINST HIM IF HE CONTINUES. OUR NEXT IPO FOR SAFARICOM IN 2012 WILL BE BOUGHT FROM USA. T WILL BE BIGGER THAN THIS ONE AND WILL HAVE MEDIATORS TO PREVENT RIGGING.
BOYCOTT!
That is how people loose out on investment and later blame those who invested for their woes. Many people will listen to you Chris at their own peril. Your analysis is more political than it is business. It shows a lack of understanding of how the share market works. The word risible aptly describes the effect your reason number three for not buying the shares invites.
ReplyDeleteI would advise against buying safaricom shares but not for the reasons you have offered (just political propaganda). Thereare financial reasons why that share would not be productive in the short term
kumekucha?? have you heard?? or is it true that PNU went broke and has promised creditors payment after the sale of safricom shares??
ReplyDeleteisn't this the most corrupt regime ever in place?? how dare??? Kenyans should boycott!!!!!!
kenyans? are you reading what i'm reading on other blogs between the line?? payments to the mungiki maniac beheading gang promised by PNU?? this is very scary!! ama?? PNU now should be forced to stop this sale until kenyans are told who mobitelea are!! for all we know they might be the mungiki war lords and this is the worst thing any kenyan wants to support!!! enough is enough let as all stop this sale us kenyans!!!!
ReplyDeletewhere there is smoke!!!there is usually fire
and kumukucha please post my thread this time!! this is a serious matter!!
KUMEKUCHA?? HEY WHY HAVEN'T POSTED MY POST ON CREDITORS BEING PAID BY THE SALE OF SAFARICOM IPO'S??? OR IS IT BECAUSE YOU ARE AWARE THAT IT IS A FACT FROM YOUR PNU SOURCES THAT YOU KEEP ON REFEREEING TO??
ReplyDeleteME THINKS THAT THE TRUTH SCARE YOU?? OR THE PNU MAKE YOU SHIVER?
BUT IT IS TRUE WHETHER YOU LIKE IT OR NOT GO ASK THE OTHER CREDITORS!!THIS IS WHAT THEY WERE TOLD AT LEAST SOME OF THEM - TO WAIT FOR THE SAFARICOM SHARES TO BE SOLD- AS YOU CAN SEE THAT IS HOW SURE THE FINANCE MINISTER WAS THEN- PLEASE GO BACK TO YOUR LOCAL PAPERS THAT REPORTED THE CREDITORS AND THE NAIROBI BRANCH PNU OFFICES?? AND IT WILL GIVE YOU THE DATE WHEN THIS CREDITORS WERE PROMISED !!
Iam a generaly optimistic person and have always had hope that one day we will get the right leader and transform kenya into what it ought to be after 45 years of independence.Today iam in the brink of giving up on kenya , matter of fact i have.We are a nation of beggers , our president rides in the fanciest cars going to meet world bank officials on a begging mission , we send our VP with a group of grown men in tailored suits on a begging mission, corruption is an industry or economic sector if you will.If we are not begging the wazungu to throw us some change we are begging them to visit our country and spend some change and when we are not doing neither of the two we are begging them to allow us in to their countries, what a shame.Are we really free, recently Raila and kibaki were asking the western world for 31billion yet tommorow we have an IPO worth 50 billion, shame on you kenyans iam done and moving to tanzania.
ReplyDeleteChris,
ReplyDeleteIt's thumbs up to you for being couragious enough to give that information. I believe that is the positive way forward, giving people information so that they make informed decisions so that in the end they do not say "but i didnt know that." At least we knew the probable benefits of buying the shares i.e. assuming the whole exercise was above board (which ibelieve is not the case). And now you have balanced that with what is/would go wrong.
Now the ball is in our (individual Kenyans) court, let us each make the decision to buy or not and be ready to take personal responsibility for our choice. Obviously, am taking the risk of buying.
Gentleman
You are wrong in telling Kenyans not to invest in this IPO.
ReplyDeleteFirst, your analysis is completely flawed and although you may have a grasp of Kenyan politics, your are way above your head when it comes to business and economics.
1. Just because a bank has collapsed, you don't tell people not to bank and keep money under their mattresses until Central bank improved their regulation of banks. What you should tell them to do is to be careful with which banks to use and look at management,financial strength etc This applies to Brokers too.
2.We don't know who Mobitelea is but the last time I checked, it is the GOK shares that are for sale and not Vodafone/Mobitelea. Whether we invest in Safaricom or not, Mobitelea shares keep appreciating as we use Safaricom services. Maybe you should be telling us not to use their services. Short sighted of course because this is a good buy and will give good returns and it is a 'holier-than-thou' position and ironical to have a Safaricom line and not buy their shares( Invest in a product you use)
Need I go on?
Please stick to politics
By the way, i fully agree that all those buying Safaricom shares as the excercise is currently running are corrupt. But i have never bought the argument that our political leaders are the only ones corrupt. Dont we fish them out of the population every five years? I believe they are very representative of the whole population. If you dont believe me, wait for a month or so to hear the numbers of Kenyans who will have applied for Safaricom shares, even though we all know that the whole exercise is very questionable.
ReplyDeleteIt is issues such as this IPO that our leaders are faced with time and again, and that as we have seen with this IPO, are usually very tempting that have driven one a politician to engage in a corrupt deal. Many of us have been lucky to not have been presented with a chance to reveal who we really are, unlike the politicians who are in the limelight. Now a chance has knocked on your door.
Am in no way condoning corruption (but am buying the shares) but mine is to send a wake up call to ODM and any other common man watch-person wanna-be out there to be on higher alert. If ODM and co had remained steadfast in opposing the IPO then it would not have taken place before the contencious issues are resolved. Truth, however, is that they dropped their guard for a week or so and within that time everything had been completed to proceed with the flawed sale.
Am not trying to pass the buck but some of these things can only be sorted out at that higher level, not at mwananchi's. But this is not to say that mwananchi is powerless, if you get the drift.
Am buying the shares out of a personal decision, but i feel that ODM failed by not remaining steadfast on lobbying and advocating for postponment of the IPO. And, no, am not absolving PNU of wrongdoing, it is only that i didnt expect any "rightdoing" from their part.
Gentleman
There is something that i have always been afraid of and it seem to be happening,the idea that luhyas will start following everything that Raila says just like our brothers the luos do, you see now people are being told not to buy safaricom shares,then 10 years down the line they will start crying of historical injustice just like the land issue in rift valley,does it realy mean that if akikuyu take aloan and buy land from somewhere in rift valley it is aform of injustice,though our brothers the kikuyus you need to style up abit and understant we live in one country that we should share just copy us the luhyas,by the way iam one, all in all people shoud buy shares do not follow politicians who will always preffer us to be poor so as to bribe easly
ReplyDelete