A BIS Post a.k.a blogger in shags.
After the fireworks of the Sexual Offences Bill passes, the next bill to read carefully through is the fiscal management bill 2006 – a well meaning bill that will allow parliament greater scrutiny of the country's budget and spending operations through the creation of a budget office and a fiscal analysis & appropriations committee in parliament.
My main concern is a clause which requires the minister of finance to incorporate comments and recommendation of the committee in preparation of the budget which may amount to the formal introduction of pork politics to Kenya in which case bills will be held up at the whim of an MP so that a need of his constituents may be satisfied. i.e. extra unplanned projects are added to bills at the last minute so it may be passed . While the committee of 17 members has 8 government and 7 opposition representatives, parliamentarians always come together across party lines whenever their welfare is at stake as was demonstrated last week.
Saturday, April 29, 2006
Monday, April 24, 2006
misuse of dividends
One stumbling to wealth accumulation by local retail investors is in the way they use their dividends.
While some companies and cooperative societies pay healthy dividends each year (or even each quarter), many investors use the cash to meet a variety of expenses - foodstuffs, school fees, credit cards, gifts, holidays – all except reinvestment in shares.
Dividend reinvestment is key instrument of accelerating investor returns. Without it, one’s investment only grows as a stock price appreciates or as one directly increases their investments.
The lag in time between dividend announcement and payments is probably a factor. Dividends arrive long after they have been forgotten about and provide an unexpected cash bonus in the middle of the year - and end up being used to meet urgent household bills e.g. most NSE firms pay 3 months after announcement ( and KCB is 4 months this year).
The financial cost of dividend payments by cheques is also expensive for both the companies (e.g. KQ will mail out almost 80,000 cheques a year) and investors (bank charges to clear cheques).
The new CDS system can help solve this problem in that dividend payments can be credited to one’s account – and then can be reinvested later in same stock or other company at the advice of a stockbroker. However, there have been some payment errors, and many investors may still prefer to see and verify their dividend cheques and then bank them and use the cash as they see fit.
While some companies and cooperative societies pay healthy dividends each year (or even each quarter), many investors use the cash to meet a variety of expenses - foodstuffs, school fees, credit cards, gifts, holidays – all except reinvestment in shares.
Dividend reinvestment is key instrument of accelerating investor returns. Without it, one’s investment only grows as a stock price appreciates or as one directly increases their investments.
The lag in time between dividend announcement and payments is probably a factor. Dividends arrive long after they have been forgotten about and provide an unexpected cash bonus in the middle of the year - and end up being used to meet urgent household bills e.g. most NSE firms pay 3 months after announcement ( and KCB is 4 months this year).
The financial cost of dividend payments by cheques is also expensive for both the companies (e.g. KQ will mail out almost 80,000 cheques a year) and investors (bank charges to clear cheques).
The new CDS system can help solve this problem in that dividend payments can be credited to one’s account – and then can be reinvested later in same stock or other company at the advice of a stockbroker. However, there have been some payment errors, and many investors may still prefer to see and verify their dividend cheques and then bank them and use the cash as they see fit.
the world economy at large
New media
The Economist takes a look at the relevance of blogs and other new media in the world today.
Oil wars
There’s a war of words between oil companies and car manufacturers over who is less greedy. Here, in a third world country overrun by small-engined, used Toyota cars, I have to side with car companies.
Wrong kind of exports
Kenyan should be processing and adding value to her products and not celebrate the export of rawlivestock and fish.
On the other hand, exporting Mercedes and BMW cars to America tends to violate the spirit of the AGOA partnership.
The Economist takes a look at the relevance of blogs and other new media in the world today.
Oil wars
There’s a war of words between oil companies and car manufacturers over who is less greedy. Here, in a third world country overrun by small-engined, used Toyota cars, I have to side with car companies.
Wrong kind of exports
Kenyan should be processing and adding value to her products and not celebrate the export of rawlivestock and fish.
On the other hand, exporting Mercedes and BMW cars to America tends to violate the spirit of the AGOA partnership.
Saturday, April 22, 2006
Telkom's Revenge?
Small piece in the Thursday Daily Nation about how Telkom Kenya will soon introduce CDMA mobile landline phones (made by Huawei of China) and these will work within 120km of one's Nairobi home - and enable calls to be made to other landlines at about 4/= per minute, well below mobile rates of 20/=. So instead of carryting two phones (one safaricom, one celtel), some pople will carry one mobile, one landline and use whichever is appropriate or convenient
Thursday, April 20, 2006
A dollar a day Part II
Banks want my google $
Trying to find a bank that will process my ad sense $100 cheque (worth approx 7,100 shillings) at a reasonable price. So far the outlook is mixed with several banks offering to collect my Citibank cheque for between 1500 and 3,500 shillings! So am now looking at the smaller banks which may be cheaper or asking google to alter my payment method so that I can retain at least 90% of my blog earnings.
New Bank
Kenya’s next bank will be Family Finance Building Society and it will operate as Family Bank Ltd after June 2006.
More SMS Banking
KCB is the latest bank to introduce SMS banking. KCB connect will offer 13 different transactions via mobile phone including mini-statements, account balances, cheque book requests, stop payment instructions and airtime top up for 25 shillings per transaction.
Better late than never
Two weeks after the Marsabit air crash, the Kenya Civil Aviation Authority has announced a tender for the supply, installation and commissioning of an air traffic craft control tower complex for Lokichoggio which is one of the busiest small aircraft airports in Kenya. Deadline for applications is June 8.
Leave Safaricom alone
Safaricom has asked companies to stop making enquiries and applications for their lucrative dealership business licences until after April 2007.
Reality check
The Nation’s new Thursday personal finance magazine has a
bar tracker feature today showing that for a Kenyan who consumes 25 bottles of beer a week (IMHO low) this all adds up to spending 130,000 shillings a year.
Africa Business has published its rankings of the 1,000 largest companies in Africa. The list is dominated by South Africa, Northern African, mining and oil companies and the largest Kenya Company , East African Breweries, is ranked at number 76 - with a market value of $1.22 billion.
Wednesday, April 19, 2006
Politicians stalls bank reform process
According to Jaindi Kisero, the East African editor, the donor-funded restructuring of Kenyan government banks has ground to a halt and the consultants hired to advise the process remain idle.
Government influence and investment was supposed to be reduced/removed at four state-influenced commercial banks, namely, the National Bank of Kenya, the Kenya Commercial Bank, Consolidated Bank of Kenya and the Industrial Development Bank in the exercise which began in 2003.
The sticking point is that directors of these banks were to be drawn from the private sector and not be political appointees as was the case in the past. He also argues that any donor projects that conflict with interests of the Kenyan political class are doomed to fail.
Government influence and investment was supposed to be reduced/removed at four state-influenced commercial banks, namely, the National Bank of Kenya, the Kenya Commercial Bank, Consolidated Bank of Kenya and the Industrial Development Bank in the exercise which began in 2003.
The sticking point is that directors of these banks were to be drawn from the private sector and not be political appointees as was the case in the past. He also argues that any donor projects that conflict with interests of the Kenyan political class are doomed to fail.
Dumbestic tourist
Over the Easter weekend, I was reading a copy of Lonely Planet Kenya book. It's an excellent guide, but with a somewhat skewed view of Kenya. e.g. it begins with an abbreviated history of Kenya, which has several paragraphs on Richard Leakey, as politician, but no mention of Kenneth Matiba, and also shows that Chief Lenana's transfer of Masai Land was an okay thing to do.
But it is a revealing insight into Kenya, a country with so much diversity for tourists. There are so many place I have never been to - Lake Baringo, Magadi, Tana river, Marsabit, Gede, Baragoi (learnt that one from AfroM recent travels) and others.
I feel ashamed that whenever I want a holiday, it’s always Mombasa that I want visit again and again. I need to explore my horizons and check out other new places which foreign tourists travel thousands of miles to see and write about, besides shags. Starting with the official Kenya Tourism website.
But it is a revealing insight into Kenya, a country with so much diversity for tourists. There are so many place I have never been to - Lake Baringo, Magadi, Tana river, Marsabit, Gede, Baragoi (learnt that one from AfroM recent travels) and others.
I feel ashamed that whenever I want a holiday, it’s always Mombasa that I want visit again and again. I need to explore my horizons and check out other new places which foreign tourists travel thousands of miles to see and write about, besides shags. Starting with the official Kenya Tourism website.
Tuesday, April 18, 2006
Jobs with Emirates Airlines
Kenyans interested in working as cabin crew for Emirates Airlines are invited to apply online for consideration and interviews to be held in Nairobi on May 9 and 10. Some minimums include age 21, arm reach of 212 cm on tiptoes, KCSE D+ mean grade, fluency in English (& other useful language) and some previous service/hospitality industry experience would be an asset. Those selected will undergo training and be based in Dubai where they will earn starting salaries of $ 1,000 per month plus flying pay of $600 p.m.
Awaiting KQ
Kenya Airways financial year ended on March 31 and their final results for the year should be released within a few weeks. Going by their half year results the airline's revenue is likely to be above 50 billion shillings and pre tax profit may pass 7 billion. The airline is likely to follow the trend of several companies and double it’s dividend payment to shareholders to 2.50 shillings for the year.
Other Corporations
Jubilee Insurance pre tax profit was up from 359m to 471m and the company will pay a dividend of 4 shillings per share, up from 2.5 the year before.
Standard newspapers group published their half-year results showing turnover increased from 961m to 1,098m and pre-tax profit increased from 45m to 92m. Not this time, but the company hopes to resume paying dividends once its balance sheet restructuring is completed.
Other Business
Pre-shipment scandal: According to Africa Confidential, there was a 'deliberate and concerted effort' to award a US$10-million pre-shipment inspection contract in September 2005 to Switzerland's Société Générale de Surveillance and Britain's Intertek International.
Little help in corruption war: Also from Africa Confidential, there's diminishing Western support for the war on corruption in that US-based risk consultants Kroll Associates decided on April 3 to shut down their Africa practice because the company judged "Africa to be just too risky." The Kenya Government had, through John Githongo, previously hired Kroll to find billions of looted shillings stashed in foreign accounts.
Women to save the world economy?
The Economist argues that women are now the most powerful engine of global growth!
- The future of the world economy lies increasingly in female hands
- In rich countries, girls now do better at school than boys, and well over half of all university degrees are now being awarded to women.
- Almost everywhere, more women are employed and the percentage of men with jobs has fallen. In the emerging East Asian economies, for every 100 men in the labour force there are now 83 women, higher even than the average in OECD countries.
- Since 1970 women have filled two new jobs for every one taken by a man.
- Women make perhaps 80% of consumers' buying decisions—from health care and homes to furniture and food.
- In years to come better educated women will take more of the top jobs
- Researchers have also concluded that women make better investors than men
- In poor countries too, the under-utilisation of women stunts economic growth.
- There is strong evidence that educating girls boosts prosperity. - Countries with high female labour participation rates, such as Sweden, tend to have higher fertility rates than Germany, Italy and Japan, where fewer women work.
- The future of the world economy lies increasingly in female hands
- In rich countries, girls now do better at school than boys, and well over half of all university degrees are now being awarded to women.
- Almost everywhere, more women are employed and the percentage of men with jobs has fallen. In the emerging East Asian economies, for every 100 men in the labour force there are now 83 women, higher even than the average in OECD countries.
- Since 1970 women have filled two new jobs for every one taken by a man.
- Women make perhaps 80% of consumers' buying decisions—from health care and homes to furniture and food.
- In years to come better educated women will take more of the top jobs
- Researchers have also concluded that women make better investors than men
- In poor countries too, the under-utilisation of women stunts economic growth.
- There is strong evidence that educating girls boosts prosperity. - Countries with high female labour participation rates, such as Sweden, tend to have higher fertility rates than Germany, Italy and Japan, where fewer women work.
Saturday, April 15, 2006
Ecofade
According the People newspaper, Econet wireless has lost its case against the Government of Kenya – which is now free to source and re-advertise for a new third mobile operator for the country.
Meanwhile the other two operators, Celtel and Safaricom, have both applied to the CCK for licenses to provide and operate international gateway telecommunication systems and services. They are likely to begin after June 2006.
Meanwhile the other two operators, Celtel and Safaricom, have both applied to the CCK for licenses to provide and operate international gateway telecommunication systems and services. They are likely to begin after June 2006.
Thursday, April 13, 2006
Point of Order
Hate to play the cynic in this tough week that Parliemnt has had, with the passing of several MP's, but here goes;
Parliament opened up its chambers to the media on Tuesday to show an abbreviated hearing where MP’s praised their departed colleagues and moved to adjourn sittings till after their funeral.
This brief window into Parliament procedures demonstrated again, as on all budget speech days, that it is already possible to broadcast parliamentary hearings – which have been promised numerous times.
And it did not require massive, expensive, renovation to achieve this. It’s just that MP’s only want coverage on their best days, not their worst. On Budget day, many of them can't even stay awake, and I'm sure they'd rather not have viewers see the empty hearings on other days with shouting matches, lack of quorum etc.
It is easy to broadcast footage from Marsabit or Garsen, weddings, church services, seminars, Goldenberg Hearings, bullfights in Western Kenya, etc. - so what’s so hard about giving TV crews (who foot their own bills) access to all parliamentary sessions? They are quite capable of taping sessions cheaply and will not intrude on the on-goings in the house. It would not be suprising if, even after the renovations, Paliament will still not allow television cameras in.
Wednesday, April 12, 2006
A seat at the high table
Local internet pioneer Ayisi Makatiani will step down as director of Barclays, the largest bank in Kenya, at the company’s AGM on April 28th at KICC, Nairobi. He joined the board in 2002, and in August last year was also elected to the Kenya Airways board and continues to run AMSCO BV.
He leaves one of the most progressive blue chip boards of directors at Barclays which now has 4 ladies among its 11 directors and is relatively youthful with only 3 members above the age of 50. This is refreshing since many boards of major Kenyan companies resemble old boys clubs with grey head retirees who sit on the crowded boards of numerous companies at the same time.
He leaves one of the most progressive blue chip boards of directors at Barclays which now has 4 ladies among its 11 directors and is relatively youthful with only 3 members above the age of 50. This is refreshing since many boards of major Kenyan companies resemble old boys clubs with grey head retirees who sit on the crowded boards of numerous companies at the same time.
Kengen be gone
Today is the closing day of the Kengen IPO period after which, hopefully the share market can go back to normal. Customer service has been poor, if not non-existsent - so a a poem
Kengen be gone
with stockbrokers who change rules
“who told you to write to Kengen IPO A/C?”
“says so on the application form”
“No that’s only for banker’s cheques”
“we are not accepting personal cheques even if you have an account with us”
e-mail’s unanswered
wrong shares bought
resulting in second and third visits to correct these matters
each taking a wasted hour to do anything
fighting for seats with Kenyans who feel too important to queue and demand instant service
because they are not new kengen riff raff
Dealing with kids who have been working for a month
on the basics of Kengen only
nothing beyond
but already over-whelmned
paperwork has piled up
some brokers now have night shifts
to process paperwork
One actually made a shocking move
and changed computer systems
in the middle of the IPO period
but balances did not reconcile
So, Kengen be gone
let's go back to normal
until Sarova, Equity and Scangroup
come calling for the masses again
Kengen be gone
with stockbrokers who change rules
“who told you to write to Kengen IPO A/C?”
“says so on the application form”
“No that’s only for banker’s cheques”
“we are not accepting personal cheques even if you have an account with us”
e-mail’s unanswered
wrong shares bought
resulting in second and third visits to correct these matters
each taking a wasted hour to do anything
fighting for seats with Kenyans who feel too important to queue and demand instant service
because they are not new kengen riff raff
Dealing with kids who have been working for a month
on the basics of Kengen only
nothing beyond
but already over-whelmned
paperwork has piled up
some brokers now have night shifts
to process paperwork
One actually made a shocking move
and changed computer systems
in the middle of the IPO period
but balances did not reconcile
So, Kengen be gone
let's go back to normal
until Sarova, Equity and Scangroup
come calling for the masses again
Bank & anti-corruption jobs
Various jobs at Investments & Mortgages (I&M) Bank (Details should be here soon) including;
- General manager finance & corporate planning
- Manager risk management
- Relationship officers/managers
- Manager liability management (Nairobi)
- Manager finance & administration
- Human resource officer
- Credit officers (Nairobi)
- Compliance & quality assurance officer
- Management trainees (people aged 22 – 25 who have studied abroad in the UK, New Zealand, Australia & Canada are encouraged to apply)
Apply to the group human resource manager at recruit@imbank.co.ke or p o box 30238-00100 Nairobi by April 25.
Web site officer at the Kenya Anti Corruption Commission who will be in charge of day to day management and maintenance of a their site. Apply to the director, KACC p o box 61130-00200 by April 25.
- General manager finance & corporate planning
- Manager risk management
- Relationship officers/managers
- Manager liability management (Nairobi)
- Manager finance & administration
- Human resource officer
- Credit officers (Nairobi)
- Compliance & quality assurance officer
- Management trainees (people aged 22 – 25 who have studied abroad in the UK, New Zealand, Australia & Canada are encouraged to apply)
Apply to the group human resource manager at recruit@imbank.co.ke or p o box 30238-00100 Nairobi by April 25.
Web site officer at the Kenya Anti Corruption Commission who will be in charge of day to day management and maintenance of a their site. Apply to the director, KACC p o box 61130-00200 by April 25.
Monday, April 10, 2006
a dollar a day
Have been running Google advertisements for a few months, and "earning" just under a dollar a day which is an international poverty line measure for individual income.
Over the weekend I received my first cheque from Google for $100 dollars (about 7,100 shillings). Not bad but it’s a start, because sometimes blogging is time consuming and it’s good to get some cash from some non-intrusive advertising.
Unfortunately Kenya is not one of the few countries that Google has selected to make payments in local currency. Am off now to look for a bank that will enable me to cash the cheque drawn in New York with a minimum of bank charges and fees.
Sad News
- Military Plane crash has kiled 4 MP's including assistant minister Mirugi Kariuki and former Foreign Affairs minister Bonaya Godana as well as at least 14 other people.
- Head of the Kenya Bureau of Standards (KBS) , Eng. Masila also passed away in a road accident over the weekend. He had steered his organization to enforce some stringent quality measures leading to higher quality of imports into the country.
NSE rumbles
Two stories in the East African today:
(i) The Transcentury Group, which recently acquired 4% of KPLC, is at an advanced stage to take over 25% of Housing Finance Company of Kenya. Two years ago they took over East African Cables and shareholders of that company saw their shares shoot from 10/- to over 160/- today.
(ii) Sameer Africa has sold its 10% in Uchumi, just three months after buying them from ICDCI and also resigned their position on the board. The Uchumi Board has since appointed Albert Ruruti, former KCB operations manager to the board and also as Chairman of the company.
Saturday, April 08, 2006
Anothder Saturday Post
Deidcated to AfroM who says I don't work on weekends
Banking
The Nation gives a peek at a damning report on the over-staffed and under-performing employees at the Central Bank of Kenya.
Charterhouse Bank management denied that they were involved in money laundering and claimed that accusations were meant to distract from the problems at the Central Bank.
Auditors of the collapsed Trust Bank will be sued for fraud by the former depositors.
An IFC report on the Ugandan banking sector.
Ex-Im Trade
The Ministry of Trade & Industry has published handbook on importing and exporting in Kenya.
Kenya Airways
- The airline is offering Mombasa residents cheap ticketsto fill seats, likely to be empty over the Easter weekend. There are so many coast holiday packages between the airline and Mombasa hotels resulting in full flights, and probably requiring extra & larger aircraft, to Mombasa before Easter and from Mombasa after Easter. So the airline is selling seats for 2,500 shillings (about ½ price) to Nairobi before Easter and to Mombasa after Easter
- The airline also offers automatic 10% discount for tickets booked thought is website (by passing travel agents & their commissions)
- KQ will codeshare with Korean Air on the Seoul - Bangkok - Nairobi route effective April 20. (From African Flyer)
E-govt
Parliament will unveil a new website next Thursday, minus 7 MP bio’s.
Sports
ABM AMRO economists make predictions about the World Cup showing Brazil are likely to win, but an Italian win would be best for the world economy.
Mining
Tiomin will buy a 20% Net Profit Interest Royalty ("NPI Royalty") that Pangea Goldfields holds on the mineral sands exploration licences of Kwale, Kilifi, Vipingo, and Mambrui in Kenya.
Communications
The Communications Commission of Kenya (CCK) will simplify the license process by combining three different licenses: VSAT, internet backbone & gateway, and public data network operator (PDNO) & international data gateway into one data carrier network operator (DCNO).
Banking
The Nation gives a peek at a damning report on the over-staffed and under-performing employees at the Central Bank of Kenya.
Charterhouse Bank management denied that they were involved in money laundering and claimed that accusations were meant to distract from the problems at the Central Bank.
Auditors of the collapsed Trust Bank will be sued for fraud by the former depositors.
An IFC report on the Ugandan banking sector.
Ex-Im Trade
The Ministry of Trade & Industry has published handbook on importing and exporting in Kenya.
Kenya Airways
- The airline is offering Mombasa residents cheap ticketsto fill seats, likely to be empty over the Easter weekend. There are so many coast holiday packages between the airline and Mombasa hotels resulting in full flights, and probably requiring extra & larger aircraft, to Mombasa before Easter and from Mombasa after Easter. So the airline is selling seats for 2,500 shillings (about ½ price) to Nairobi before Easter and to Mombasa after Easter
- The airline also offers automatic 10% discount for tickets booked thought is website (by passing travel agents & their commissions)
- KQ will codeshare with Korean Air on the Seoul - Bangkok - Nairobi route effective April 20. (From African Flyer)
E-govt
Parliament will unveil a new website next Thursday, minus 7 MP bio’s.
Sports
ABM AMRO economists make predictions about the World Cup showing Brazil are likely to win, but an Italian win would be best for the world economy.
Mining
Tiomin will buy a 20% Net Profit Interest Royalty ("NPI Royalty") that Pangea Goldfields holds on the mineral sands exploration licences of Kwale, Kilifi, Vipingo, and Mambrui in Kenya.
Communications
The Communications Commission of Kenya (CCK) will simplify the license process by combining three different licenses: VSAT, internet backbone & gateway, and public data network operator (PDNO) & international data gateway into one data carrier network operator (DCNO).
Friday, April 07, 2006
April 7 Opportunities
Jobs
Beta health care
- area manager pharmaceuticals
- medical sales representatives
- veterinary sales representatives
- production supervisor (1)
Apply to jameskin@betacare.co.ke by April 12
Finance manager Coca Cola in Kisii. Apply to jobs@afr.ko.com by April 21.
procurement managers at East African Breweries
- marketing & growth support
- services/fleet/IS/logistics
- packaging & raw materials
Apply to hrrecruitment@eabl.com by April 21
Kenya Commercial Bank
- manager assets, personal banking
- manager liabilities, personal banking
- manager sales, personal banking
- retail manager
- manager, business banking
- business banker
- acquiring and supper manager
- manager customer care
- card product sales manager
Apply to the divisional director HR P O Box 48400-00100 by 24th April
Kenya Institute of Management
- assistant director member services
- assistant director branch services
- manager executive recruitment & selection
- public relations officer
Apply to kim@kim.ac.ke by April 18
Kenya Investment Authority formerly the investment promotion centre (IPC)
- managing director
- general manager investment promotion
- general manager investor services
- general manager research, policy advocacy and planning
- general manager legal & corporate affairs
- general manger finance & administration
Apply through Ernst & Young executive selection division at eyrecruit@ke.ey.com by 28 April. Applicants for all positions are expected to have master’s degrees and at least 10 years experience, 5 at senior management level.
Professionals at Kenya Police; details on all jobs here at the new Kenya Police website.
- pilots
- lawyers
- doctors (pathologists, psychiatrist, veterinary doctors)
- engineers (mechanical, electrical, civil, structural, telecommunication, computer)
- psychologists/counsellors
- educationists
- public relation practitioner
- criminologists
- forensic investigators
Managing director at Marshalls EA. Apply to marshallsmd@careerconnections.co.ke by April 25.
Customer care representatives at Safaricom as well as other jobs; details on all jobs here;
Other open positions include
- senior in-house counsel – commercial
- senior in-house counsel – property & general advisory
- transmission support engineer
- performance engineer
- SSS support engineer
- senior engineer – implementation & optimisation
- CNP&E engineer – design
- engineer – implementation & optimisation
- principal engineer roaming, IN-VAS interface & equipment power
scholarships
Japanese Government scholarships; Apply by May 11 and more details here.
- research student scholarships
- college of technology scholarships
- professional training college scholarships
Beta health care
- area manager pharmaceuticals
- medical sales representatives
- veterinary sales representatives
- production supervisor (1)
Apply to jameskin@betacare.co.ke by April 12
Finance manager Coca Cola in Kisii. Apply to jobs@afr.ko.com by April 21.
procurement managers at East African Breweries
- marketing & growth support
- services/fleet/IS/logistics
- packaging & raw materials
Apply to hrrecruitment@eabl.com by April 21
Kenya Commercial Bank
- manager assets, personal banking
- manager liabilities, personal banking
- manager sales, personal banking
- retail manager
- manager, business banking
- business banker
- acquiring and supper manager
- manager customer care
- card product sales manager
Apply to the divisional director HR P O Box 48400-00100 by 24th April
Kenya Institute of Management
- assistant director member services
- assistant director branch services
- manager executive recruitment & selection
- public relations officer
Apply to kim@kim.ac.ke by April 18
Kenya Investment Authority formerly the investment promotion centre (IPC)
- managing director
- general manager investment promotion
- general manager investor services
- general manager research, policy advocacy and planning
- general manager legal & corporate affairs
- general manger finance & administration
Apply through Ernst & Young executive selection division at eyrecruit@ke.ey.com by 28 April. Applicants for all positions are expected to have master’s degrees and at least 10 years experience, 5 at senior management level.
Professionals at Kenya Police; details on all jobs here at the new Kenya Police website.
- pilots
- lawyers
- doctors (pathologists, psychiatrist, veterinary doctors)
- engineers (mechanical, electrical, civil, structural, telecommunication, computer)
- psychologists/counsellors
- educationists
- public relation practitioner
- criminologists
- forensic investigators
Managing director at Marshalls EA. Apply to marshallsmd@careerconnections.co.ke by April 25.
Customer care representatives at Safaricom as well as other jobs; details on all jobs here;
Other open positions include
- senior in-house counsel – commercial
- senior in-house counsel – property & general advisory
- transmission support engineer
- performance engineer
- SSS support engineer
- senior engineer – implementation & optimisation
- CNP&E engineer – design
- engineer – implementation & optimisation
- principal engineer roaming, IN-VAS interface & equipment power
scholarships
Japanese Government scholarships; Apply by May 11 and more details here.
- research student scholarships
- college of technology scholarships
- professional training college scholarships
Wednesday, April 05, 2006
Lunch with R & G
Yesterday I attended a corporate function (center picture) in Karen. I arrived late, and just as the vice president’s motorcade was leaving. After watching bodyguards jump into moving cars, Raila Odinga pulled Uhuru Kenyatta aside for a brief chat. They talked alone for a few minutes before Uhuru’s Mercedes pull up and he also left (did not know that the leader of official position uses a GK car) . Raila also entered an SUV and drove off, waving to the small crowd though his open window.
Later we walked to the Horseman restaurant for lunch to end the event we were surprised to find that all the politicians had also come for the lunch as well, and we seated at a corner table. As I sat there, I thought about the last time I had been this close to, and can claim to have had a lunch with, Raila.
It was in December 2004, also in Karen, the day Raila’s daughter Rosemary, got married in a huge wedding for the ages. It was huge with pomp, bling, money spent well – expensive but tastefully, and was attended by President Kibaki, former president Moi and thousands of others.
That day, I was very surprised to see John Githongo for the first (and only time) time in my life, as he walked in with President Kibaki’s entourage of the day.
Reading the Githongo diaries, we know now that it was a momentous day for Githongo as he had just before wedding, given the president another explosive briefing on the still underground Anglo Leasing scandal. And just over a month later, he was gone, resigned and in exile from the Kenya government.
And there they were that day celebrating with Raila the man who sways & seduces people, politicians and voters - and who has been a critical ally turned lethal foe for both presidents Moi and Kibaki. Rails was also a man who Kibaki’s people had been uncomfortable with almost to the point of obsession. The Githongo diaries are peppered with utterances where Kiraitu Murungi and other officials told Githongo that Anglo leasing funds were to be used to fight Raila at Bomas, their fears Raila knew all about Anglo Leasing was, that they needed Anglo leasing funds to build up a war chest to strengthen the president and contain Raila.
Fast forward to yesterday, many months later, when I also attened aKwani poetry slam in the evening. IMHO, the best reading was given by one Muki Garang who gave some nice def poetry performances. He also wore a t-shirt with John Githongo’s portrait.
John Githongo, who is alive, has joined a select list of people immortalized by young revolutionaries - such as Che Guevara, Bob Marley, John Lennon, Malcolm X, Mahatma Gandhi, even 2Pac. Most of them died before their time, often at the hands of others. Yesterday was also the date when another icon, Martin Luther King was assassinated in 1968. He is not a t-shirt icon like the others, but he is recognized in a greater way with monuments, a holiday and is credited with the legacy of spearheading the drive to ending separation in America.
But sometimes when you reach a summit, the only place you can go is down - and the years have not being kind to some people e.g. Michael Jackson, Jesse Jackson and now Whitney Houston - who would all be called icons today if they had left the scene in the late 80's with their reputations intact. People would be talking about them in legendary status, wearing their t-shirts, and own tons of their memorabilia.
John Githongo deserves more than a t-shirt as recognition item - which is why he needs to keep evolving and adapting like Raila has done. Maybe Githongo should apply to become the next head of Transparency International in Germany or the USA or come back and be the next head of Kenya Anti-Corruption Commission. He has to keep plugging away, not just commenting.
Tuesday, April 04, 2006
All Banks in 2005
Bank assets, and pre-tax profits (in millions of Kenya shillings)
1. Barclays 104,522 (5,401). i.e. The number one Bank in Kenya had 105 billion shillings ($1.45 billion) in assets and 5.4 billion shillings ($75 million) in profits at the end of December 2005.
2. Kenya Commercial 74,338 (1,909)
3. Standard Chartered 72,969 (3,500)
4. Cooperative 51,835 (706)
5. National Bank of Kenya 32,584 (859)
6. Citibank 30,928 (1,285)
7. Commercial Bank of Africa 29,667 (556 corrected)
8. CFC 20,893 (418)
9. NIC 20,631 (403)
10. I&M 18,046 (489)
11. Diamond Trust 16,234 (363 corrected)
12. Stanbic 14,997 (440)
13. Equity 11,457 (501)
14. Housing Finance 9,903 (102)
15. Baroda 9,265 (238)
16. EABS 8,856 (7)
17. Imperial 7,773 (305)
18. Bank of India 7,206 (80)
19. Prime 7,153 (125)
20. Fina 6,216 (95)
21. Bank of Africa 5,349 (7)
22. ABC Bank 5,144 (123)
23. Giro 4,905 (-6)
24. Habib AG Zurich 4,743 (147)
25. Guardian 4,451 (56)
26. Charterhouse 4,221 (122)
27. Southern Credit 4,221 (31)
28. Victoria 4,212 (123)
29. Middle East 4,051 (115)
30. K-Rep 3,781 (48)
31. Equatorial 3,671 (109)
32. Family Finance 3,285 (94) *
33. Consolidated 2,909 (-13)
34. Habib Bank 2,890 (21)
35. Credit 2,798(90)
36. Development Bank of Kenya 2,745 (166)
37. Chase 2,601 (61)
38. Transnational 2,024 (59)
39. Fidelity 1,666 (23)
40. Paramount Universal 1,490 (16)
41. Oriental 1,376 (-86)
42. Dubai 1,153 (29)
43. City Finance 510 (-47)
* will become a full commercial bank in July 2006.
1. Barclays 104,522 (5,401). i.e. The number one Bank in Kenya had 105 billion shillings ($1.45 billion) in assets and 5.4 billion shillings ($75 million) in profits at the end of December 2005.
2. Kenya Commercial 74,338 (1,909)
3. Standard Chartered 72,969 (3,500)
4. Cooperative 51,835 (706)
5. National Bank of Kenya 32,584 (859)
6. Citibank 30,928 (1,285)
7. Commercial Bank of Africa 29,667 (556 corrected)
8. CFC 20,893 (418)
9. NIC 20,631 (403)
10. I&M 18,046 (489)
11. Diamond Trust 16,234 (363 corrected)
12. Stanbic 14,997 (440)
13. Equity 11,457 (501)
14. Housing Finance 9,903 (102)
15. Baroda 9,265 (238)
16. EABS 8,856 (7)
17. Imperial 7,773 (305)
18. Bank of India 7,206 (80)
19. Prime 7,153 (125)
20. Fina 6,216 (95)
21. Bank of Africa 5,349 (7)
22. ABC Bank 5,144 (123)
23. Giro 4,905 (-6)
24. Habib AG Zurich 4,743 (147)
25. Guardian 4,451 (56)
26. Charterhouse 4,221 (122)
27. Southern Credit 4,221 (31)
28. Victoria 4,212 (123)
29. Middle East 4,051 (115)
30. K-Rep 3,781 (48)
31. Equatorial 3,671 (109)
32. Family Finance 3,285 (94) *
33. Consolidated 2,909 (-13)
34. Habib Bank 2,890 (21)
35. Credit 2,798(90)
36. Development Bank of Kenya 2,745 (166)
37. Chase 2,601 (61)
38. Transnational 2,024 (59)
39. Fidelity 1,666 (23)
40. Paramount Universal 1,490 (16)
41. Oriental 1,376 (-86)
42. Dubai 1,153 (29)
43. City Finance 510 (-47)
* will become a full commercial bank in July 2006.
Monday, April 03, 2006
Top Bank Rankings for 2005
Assets (in millions of Kenya shillings)
Barclays 104,522
Kenya Commercial 74,338
Standard Chartered 72,969
Cooperative 51,835
National Bank of Kenya 32,584
Citibank Kenya 30,928
Commercial Bank of Africa 29,667
CFC 20,893
NIC 20,631
Investment & Mortgages 18,046
Customer deposits
Barclays 81,800
Kenya Commercial 59,954
Standard Chartered 59,683
Cooperative 43,370
National Bank of Kenya 25,252
Commercial Bank of Africa 25,088
Citibank Kenya 22,697
NIC 16,575
CFC 15,301
Investment & Mortgages 14,799
Loans
Barclays 65,562
Standard Chartered 34,042
Kenya Commercial 32,849
Cooperative 29,089
National Bank of Kenya 24,213
NIC 14,127
CFC 11,662
Commercial Bank of Africa 11,589
Investment & Mortgages 11,087
Diamond Trust 10,318
Pre-tax profit
Barclays 5,401
Standard Chartered 3,500
Kenya Commercial 1,909
Commercial Bank of Africa 1,294
Citibank Kenya 1,285
National Bank of Kenya 859
Cooperative 706
Equity 501
Investment & Mortgages 489
Standard Bank of South Africa (Stanbic) 440
Return on assets
Development Bank of Kenya 6.05%
Barclays 5.17%
Standard Chartered 4.80%
Equity 4.37%
Commercial Bank of Africa 4.36%
Citibank Kenya 4.15%
Imperial 3.92%
Credit 3.22%
Habib AG Zurich 3.10%
Equatorial 2.97%
Non interest income to total income
Oriental (formerly Delphis) 85.96%
Family Finance 59.44%
Equity 51.97%
Consolidated 50.24%
Cooperative 47.88%
Commercial Bank of Africa 47.37%
Kenya Commercial 46.12%
Citibank Kenya 44.05%
EABS 42.70%
Barclays 41.10%
Investor gains
(Returns to shareholders of financial institutions/companies listed on the NSE, combining share prices at the beginning, and end, of 2005 and adjusted to reflect dividend payments – but does not include share price movements during 2006).
Pan Africa Insurance 91.43%
Kenya Commercial 77.27%
Housing Finance 59.20%
National Bank of Kenya 52.41%
Jubilee Insurance 46.12%
Barclays 38.50%
CFC 29.03%
ICDCI 25.83%
Standard Chartered 17.62%
Diamond Trust 12.11%
NIC 6.00%
Barclays 104,522
Kenya Commercial 74,338
Standard Chartered 72,969
Cooperative 51,835
National Bank of Kenya 32,584
Citibank Kenya 30,928
Commercial Bank of Africa 29,667
CFC 20,893
NIC 20,631
Investment & Mortgages 18,046
Customer deposits
Barclays 81,800
Kenya Commercial 59,954
Standard Chartered 59,683
Cooperative 43,370
National Bank of Kenya 25,252
Commercial Bank of Africa 25,088
Citibank Kenya 22,697
NIC 16,575
CFC 15,301
Investment & Mortgages 14,799
Loans
Barclays 65,562
Standard Chartered 34,042
Kenya Commercial 32,849
Cooperative 29,089
National Bank of Kenya 24,213
NIC 14,127
CFC 11,662
Commercial Bank of Africa 11,589
Investment & Mortgages 11,087
Diamond Trust 10,318
Pre-tax profit
Barclays 5,401
Standard Chartered 3,500
Kenya Commercial 1,909
Commercial Bank of Africa 1,294
Citibank Kenya 1,285
National Bank of Kenya 859
Cooperative 706
Equity 501
Investment & Mortgages 489
Standard Bank of South Africa (Stanbic) 440
Return on assets
Development Bank of Kenya 6.05%
Barclays 5.17%
Standard Chartered 4.80%
Equity 4.37%
Commercial Bank of Africa 4.36%
Citibank Kenya 4.15%
Imperial 3.92%
Credit 3.22%
Habib AG Zurich 3.10%
Equatorial 2.97%
Non interest income to total income
Oriental (formerly Delphis) 85.96%
Family Finance 59.44%
Equity 51.97%
Consolidated 50.24%
Cooperative 47.88%
Commercial Bank of Africa 47.37%
Kenya Commercial 46.12%
Citibank Kenya 44.05%
EABS 42.70%
Barclays 41.10%
Investor gains
(Returns to shareholders of financial institutions/companies listed on the NSE, combining share prices at the beginning, and end, of 2005 and adjusted to reflect dividend payments – but does not include share price movements during 2006).
Pan Africa Insurance 91.43%
Kenya Commercial 77.27%
Housing Finance 59.20%
National Bank of Kenya 52.41%
Jubilee Insurance 46.12%
Barclays 38.50%
CFC 29.03%
ICDCI 25.83%
Standard Chartered 17.62%
Diamond Trust 12.11%
NIC 6.00%
Sports wrap: seeking new Choices
formula one
choices does not roar anymore
Kac-choi or Choices on Baricho road used to be a destination of choice for grand prix races. It was one of the few places that would show a race early in the morning (e.g. Australia, Japan, China races) or even if Man U and Arsenal were playing at the same time.
But after fiascos in the last two races, they seem to have lost interest in racing and its fans. Yesterday they couldn’t get the picture on, and kept a group of us waiting for half an hour while some patrons watched rugby (live from Hong Kong). They didn’t try to find the race channel till after 7 a.m when the race started, and they did not have that channel! We missed the start, which is an important part of all left and then all left and drove to GP Karting (at the Carnivore) to watch the rest of the race. I was surprised to find the place open, but they had some morning kart races organized by Kenya motorsports foundation.
For the last race, the picture went off at Choices at the start of the race, as it did in some other locations. It may not have been their fault, but they may need to upgrade their dish to get a more reliable feed. I will not visit them for races and will in future go to GP Karting or Soho’s which I was told guarantees to show a grand prix race, anytime of the day or night.
Alonso = Chelsea
Fernando Alonso won his second race of the season, giving his Renault team a hat trick of wins to start the season. Alonso is now truly on his way to replacing Michael Schumacher as ‘the Man in F1’ – as he now attracts equal measure of admiration and hate. He combines the confidence and arrogance of Senna and Schumacher (what’s that ridiculous ‘bunny ears’ celebration about?) out of the cockpit with mature and calculated driving on the track – making him a consistent and predictable (or boring) winner as Chelsea. The remarkable thing is that he is at Renault who are beating bigger budget teams (Ferrari, Mclaren, Toyota, BMW) – but has already signed to drive for Mclaren in 2007.
soccer
Manchester won against Bolton while Chelsea had a draw leaving a 7 point gap between them. Could history repeat itself as it did three years ago when Arsenal, who enjoyed a comfortable lead at the top of the table, slumped at the end of the season allowing Man U to overtake them to the title?
boxing
Congestina Achieng lost her fight to an American challenger on Saturday, disappointing many of her fans who expected her to stage another knock out performance of her opponent who instead jabbed her way to a points win of Congestina. Her fighting style reminds me of Mike Tyson in the later stage of his boxing career where he ferociously (his words) punched to knock out his opponents early in the fight, but did not appear to have the stamina or strategy to fight and win a longer bout. In her last fight, Congestina struggled to a points win and hopefully this experience will be good her and she will now work with her managers and trainers to improve.
choices does not roar anymore
Kac-choi or Choices on Baricho road used to be a destination of choice for grand prix races. It was one of the few places that would show a race early in the morning (e.g. Australia, Japan, China races) or even if Man U and Arsenal were playing at the same time.
But after fiascos in the last two races, they seem to have lost interest in racing and its fans. Yesterday they couldn’t get the picture on, and kept a group of us waiting for half an hour while some patrons watched rugby (live from Hong Kong). They didn’t try to find the race channel till after 7 a.m when the race started, and they did not have that channel! We missed the start, which is an important part of all left and then all left and drove to GP Karting (at the Carnivore) to watch the rest of the race. I was surprised to find the place open, but they had some morning kart races organized by Kenya motorsports foundation.
For the last race, the picture went off at Choices at the start of the race, as it did in some other locations. It may not have been their fault, but they may need to upgrade their dish to get a more reliable feed. I will not visit them for races and will in future go to GP Karting or Soho’s which I was told guarantees to show a grand prix race, anytime of the day or night.
Alonso = Chelsea
Fernando Alonso won his second race of the season, giving his Renault team a hat trick of wins to start the season. Alonso is now truly on his way to replacing Michael Schumacher as ‘the Man in F1’ – as he now attracts equal measure of admiration and hate. He combines the confidence and arrogance of Senna and Schumacher (what’s that ridiculous ‘bunny ears’ celebration about?) out of the cockpit with mature and calculated driving on the track – making him a consistent and predictable (or boring) winner as Chelsea. The remarkable thing is that he is at Renault who are beating bigger budget teams (Ferrari, Mclaren, Toyota, BMW) – but has already signed to drive for Mclaren in 2007.
soccer
Manchester won against Bolton while Chelsea had a draw leaving a 7 point gap between them. Could history repeat itself as it did three years ago when Arsenal, who enjoyed a comfortable lead at the top of the table, slumped at the end of the season allowing Man U to overtake them to the title?
boxing
Congestina Achieng lost her fight to an American challenger on Saturday, disappointing many of her fans who expected her to stage another knock out performance of her opponent who instead jabbed her way to a points win of Congestina. Her fighting style reminds me of Mike Tyson in the later stage of his boxing career where he ferociously (his words) punched to knock out his opponents early in the fight, but did not appear to have the stamina or strategy to fight and win a longer bout. In her last fight, Congestina struggled to a points win and hopefully this experience will be good her and she will now work with her managers and trainers to improve.
Saturday, April 01, 2006
NCC loses
The Nairobi City Council has lost a long-running case regarding its controversial land rates increase in a case of concerned citizens saying enough – is – enough.
This is not likely to mean much since:
- Nothing in our courts is ever final, and endless appeals can follow.
- City council is known to ignore court orders and will probably do the same in this case
- Many residents have already paid and will continue to pay, fearing retaliation from council workers.
- Case not well known.
- Still WECareAboutNairobiDOIT did a great job. Next up, is a section of the business community challenging electronic tax registers.
This is not likely to mean much since:
- Nothing in our courts is ever final, and endless appeals can follow.
- City council is known to ignore court orders and will probably do the same in this case
- Many residents have already paid and will continue to pay, fearing retaliation from council workers.
- Case not well known.
- Still WECareAboutNairobiDOIT did a great job. Next up, is a section of the business community challenging electronic tax registers.
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