Saturday, January 27, 2007

Recovery Week

Out of hospital and recovering this week and trying to catch up after two weeks away from a computer. Missed so much, mailboxes are full, have to send proper replies, and most of the news links are now out-dated and need to be refreshed.

It was a pleasant week, whose main difficulty was the passage to time. I read many books and consulted Dr. Hannibal Lecter who had spent 8 years in one room.

Describe a share investor
The Economist published a series on executive compensation and ran a quote from 17 years ago that can be used to accurately describe (we) investors who speculate on shares;

To a shareholder in a typical company, a share is little more than a betting slip. It is bought at what a shareholder thinks are good odds to provide winnings he hopes will be large.

The notion that he owns part of a company makes as much sense to him as it would for the average gambler to imagine he owns part of a horse running in a 2:30 race.

A title deed to a house tells someone what he knows instinctively - that he owns the place and must care for it. A share certificate tells him nothing more than that he has the right to a dividend and the chance to make some cash.


Tiomin sells out
Tiomin will sell ATW Venture Corp. a 50% interest in the Kenyan mineral sands for US$35 million to raise funds owing to cost escalations.

Githongo blog
He must be wondering what he has to do to get his point, but after putting up a blog he should be very careful

Stanbic Results
With over 1 billion shares on offer and despite the over-subscription, there’s won’t be too many complaints about allocation;
- Uganda nationals get full allocation up to 2.15 million shares
- Others (including Kenyans) get full allocation up to 109,500 shares (about 312,000 shillings)[But the stock exchange there trades for (I think) 3 days a week]

Sky please
After years of getting (and under appreciating) SKY news of Britain, the local STV channel has taken it down and replaced it with VOA TV. There’s no apparent reason why VOA should be broadcasting as there’s nothing I’ve seen that is newsworthy or worth tuning in for.

Opportunities

Jobs

International director of fund raising at AMREF. Details here and apply through olga@crsearchandselection.com by 9/2

Financial controller at Children’s International. Apply through KPMG at esd@kpmg.co.ke by 2/2

Senior project officers (2) at EADB Nairobi. Apply to the Kenya country manager at box 47685 by 16/2

Housing Finance: Manager [HR], assistant manager[legal], officer [insurance]. Apply to human.resources@housing.co.ke by 3/2

I&M Bank: Details here for Cashiers [Tellers], Liability Manager, Trade Finance Officer, and Relationship Manager [Assets].

Marshalls: General Manager (Tata), General Manager (KIA/Honda), Marketing Manager. Apply through Dagger Consultants at gd@africaonline.co.ke by 9/2

National Oil Corporation: Various jobs including customer service assistant, ICT manager and internal audit assistant. Apply to hr@nockenya.co.ke by 13/2

NIC Bank: Nakuru [business development manager, sales executives (2), branch advances officer, branch customer service officer], Mombasa [service delivery manager], Nairobi [Corporate relationship manager]. Apply to the Head of HR 44599-00100 Nairobi by 7/2

Finance manager at Sense International - Nairobi. Apply to info@senseint-ea.org by 2/2

Finance manager at Tearfund - Nairobi. Apply to internationaljob@tearfund.org by 31/1

Other

KCB is seeking new ATM machines to expand its network into the hundreds.

The Nairobi Stock Exchange will conduct a Market Index Review via a consultancy.

Associate consultants at the influential Steadman Group. Apply to md@steadman-group.com

12 comments:

MainaT said...

Good to see u bloggibng again Banks. Hope u are feeling better. Stay away from that nyama choma u hear!

MainaT said...

bloggibng=blogging

Was going to ask you-you mentioned a while back that DTK might be taking over Habib or merging as they call it.Any updates?
Tx

coldtusker said...

As MainaT keep away from the nyamachoma...

Glad to see your wit is back... ati... 8 yrs!

Hopefully, you can post more often as you get up-to-speed!

Acolyte said...

I hope you are now back to 100% as you read this! Good to have you back!

Anonymous said...

Actually checked this your blog everyday and was beginnng to wonder what had happened..great to have you back and sorry for your illness

mwasjd said...

Welcome back. It seems I'm not the only one who's disappointed by the change in STV from SKY to VOA. Sky was too pro english, but at least was interesting, up to date with breaking news + good sports highlights.

Anonymous said...

Happy New Year...Welcome back!

You were greatly missed.

Anonymous said...

Hey Banks,

Gr8 to have u back ... hope twasnt the RVF thingie ;)

VOA

egm said...

Good to see you back. Keep healthy!

Mitzy said...

The Ugandan Securities Exchange (USE) is open Mon-Fri, but official trading days for equities are Tuesday and Thursdays 10:00 to 12:00. The implementation of CDS is about 70% complete.

toiyoi said...

Banks: quick recovery
Banks or someone else assist here:
I recently went to buy from a hardware store and i noticed that there is a little black book that Mr shopkeeper enters my purchase in. Now this shop is computerised, and the billing system spits out my receipt in no time. Why is Mr muindi ( i notice mainly the Wahindis doing this-sorry) going through the pain of keeping two records of the transaction? Can anyone enlighten me? Which record does KRA know about?

Anonymous said...

toiyoi - Any decent accountant will tell you that during a change-over period, businesses are advised to keep 2 sets of accounts. The idea of running parallel systems is ensure data integrity. This could be for an entire financial year!

BTW, I would like to see KRA's accounts... do they publish their accounts?

I am curious whether the Gikomba dealer (let's call her Mrs. Mwafrika) issues you an ETR receipt. Let me know. Does KRA even know she has a business?

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