Monday, October 17, 2005


WC to Malindi
Newly crowned F1 champion Fernando Alonso and his Renault team will return visit to Kenya in December. This has become an annual event that involves team building and physical training at the Malindi estate of the team principal Flavio Briatore.

TV debate
The Media Owners Association has convened a debate on the proposed draft constitution which will be broadcast on most of the major television and radio stations on Tuesday October 18th at 7:30 PM. Members of the Cabinet from both fruit camps will answer questions sent ahead by members of the public via e-mail. In the countdown to the 2002 general elections attempts were made to have a televised debate featuring the presidential candidates, but which didn't take place since the big two candidates, Uhuru Kenyatta and Mwai Kibaki, never committed.

good week for investors
Last week saw the completion of a successful rights issue by Uchumi, confirmation of the Kengen IPO for 2006, and partial privatization of the management of the Kenya & Uganda railways by a South African firm after an extensive bidding process. Meanwhile right issues have emerged as the preferred investment vehicle for privatizing state companies as they enable firms to raise new capital, gain new shareholding & management and reduce government ownership – since the government opts not to take up its allocated rights – this happened at KCB, Uchumi, and next at KPLC.

paint obsession
The Nairobi City Council wants the City to look good but only in terms of appearance. They have issued a notice to building owners who don’t paint their dilapidated buildings - which the council considers to be a nuisance – or they will be fined 1,500 shillings per day and charged in court under the publish health act. There are so many old buildings crumbling on the inside and with cracked sidewalks on the outside, that paint is the least of their problems. The Council has also take to painting road markings, while not really bothering with potholes or pavements.

debt relief
The Kenya Planters Coffee Union (KPCU) has again extended its debt moratorium window, this time by 3 months to December 31. This is a waiver on all interest above 18% on coffee farmers debts accrued between 1992 and 2001. Enquiries can be made to the firms’ lawyers.


Jay said...

Isn't that band-aid approach annoying!!! The day Alfie Mutua declared that they were going to make Naqi a first class city, and then proceeded to paint a road marking on a pot-hole I would have smacked him if he was anywhere near me. What is wrong with these people!!!!

Adrian said...

congrats to fernando and renault for their well-deserved titles!
next year is going to be tougher...

bankelele said...

ms k: it's amazing that painting a road/building is given more priority over security, hawkers, road repair, garbage collection, parking shortages and hawkers.

adrian: next year should be interesting. we'll see if Renault can retaing the title - note that like the ferrari/mclaren duels of years past, their ultra-reliability and consistenet scoring enabled them to finish ahead of faster mclarens.

Sam Oendo said...

Briatore's house rocks! Next year McLaren wins. I predicted Renault this year, and I predict McLaren next year. Nimesema.


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