[kictanet] Discipline & Ethics - Re: Legislation and Regulationfore-Commerce in Ken

[Brian Munyao Longwe]

Bill,

V good points.let me ask you how much of the 280 billion that was  
oversubscribed for Safaricom was local, Kenyan money? Can Kenyans  
afford to invest (and therefore control) businesses both in and out of  
Kenya? Yes! But do they? No!

Everybody goes running after the Safaricoms when the "outsiders" are  
investing (and taking bigger risk) in tomorrows Unilever.

I know of deals that are being closed right now worth several million  
dollars with "foreign" investors for businesss that have been round  
the block locally several times and couldn't even get the time of day  
from some of our local financiers.

I say its time for us to put *our* money where our mouth is.

Al's point is unshakeable, if you own it you control it. Let us find  
out ways in which we can own without undermining or destroying our  
markets (e.g Mugabe)

Brian

Sent from my iPhone

On 14 Jul 2008, at 8:36 PM, "Bill Kagai" <billkagai at gmail.com> wrote:

> On Mon, Jul 14, 2008 at 7:57 PM, <alkags at alkags.com> wrote:
> I wonder if protectionist policies would enhance our global  
> competitiveness as a country in the larger scheme of things?
>
> Alkags,
> I have written too much (today), but kindly indulge me with this one  
> last post I could not resist because it harbours on what I do for a  
> living - information vending ;-)
>
> You know about Unilver Tea. Basic stats look like this...and another  
> reason why you should subscribe to MediaCorp services
>
> NSE Sector
>
> Agricultural
>
>
>
>
>
> Company
>
> Unilever Tea
>
>
>
>
>
> Code
>
> UNLV
>
>
>
>
>
> Year Of
>
> 1925
>
>
>
>
>
> Year of Listing
>
> 1972
>
>
>
>
>
> Issued Shares
>
> 48,875,000.00
>
>
>
>
>
> Share Float
>
> 11
>
>
>
>
>
>
>
>
>
>
>
>
>
> All Time Low
>
> 36.00
>
>
>
>
>
> All Time High
>
> 130.00
>
>
>
>
>
> Market Capitalisation (Million)
>
> 2.26B
>
>
>
>
>
> Par Value
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> Top 10 Shareholders
>
> Name
>
> %
>
>
> Shareholder1
>
> Brooke Bond Group Ltd. -
>
> 88.23
>
>
> Shareholder2
>
> Board of Trustees Of NSSF
>
> 2.94
>
>
>
> Shareholder3
>
> KCB Staff Pension
>
> 0.52
>
>
>
> Shareholder4
>
> UAP Provincial Insurance
>
> 0.33
>
>
>
> Shareholder5
>
> Old mutual life Ass
>
> 0.29
>
>
>
> Shareholder6
>
> BBK Nominees
>
> 0.27
>
>
>
> Shareholder7
>
> Co-op Bank Kenya
>
> 0.22
>
>
>
> Shareholder8
>
> BBK Nominees
>
> 0.22
>
>
>
> Shareholder9
>
> xxxx
>
>
>
>
>
> Shareholder10
>
> Ins Co. of East    Africa
>
> 0.17
>
>
>
>
>
>
>
>
>
>
>
> Top10Total Shares
>
>
>
> 93.37
>
>
>
>
>
>
>
>
>
>
>
> Profit Before Tax (Year)
>
> [Million]
>
> Profit After Tax (Year)
>
> [Million]
>
> 2000
>
> 410.00
>
> 2000
>
> 450.00
>
> 2001
>
> 420.00
>
> 2001
>
> 220.00
>
> 2002
>
> 415.00
>
> 2002
>
> 130.00
>
> 2003
>
> 400.00
>
> 2003
>
> 60.00
>
> 2004
>
> 450.00
>
> 2004
>
> 370.00
>
> 2005
>
> 100.00
>
> 2005
>
> 70.00
>
> 2006
>
> 100.00
>
> 2006
>
> 60.00
>
> 2007
>
>
>
> 2007
>
>
>
>
>
>
>
>
>
>
>
> Earning Per Share
>
> Kshs
>
> Dividend PayOut
>
> Kshs
>
> 2000
>
> 9.20
>
> 2000
>
> 6.00
>
> 2001
>
> 4.60
>
> 2001
>
> 2.00
>
> 2002
>
> 2.50
>
> 2002
>
> 2.50
>
> 2003
>
> 1.30
>
> 2003
>
> 6.00
>
> 2004
>
> 7.40
>
> 2004
>
> 8.00
>
> 2005
>
> 1.40
>
> 2005
>
> 2.00
>
> 2006
>
> 1.10
>
> 2006
>
> 2.00
>
> 2007
>
>
>
> 2007
>
>
>
> P/E Ratio
>
>
>
>
>
>
>
> Bankers
>
> Barclay bank of Kenya,Citibank NA,Cooperative Bank
>
> Registrars
>
> Cooperative Bank Registrars
>
>
>
>
>
>
> My point
> Foreigners hold 88% of the company and thus in a position to make  
> board decisions regardless of the African investors thinking after  
> all..they holding only 12%. Some investors bought into this company  
> at more than kshs 100 and when it ceased trading, shares were moving  
> in the 40-45 range. The shares will be called back because the  
> foreigners agenda is different and there intention is not to make  
> money for the local investors. [Country of origin and Fair trade  
> issues]. The local investors including NSSF, KCB pensioners and many  
> more Wanjikus have been screwed.
>
> RVR is coming next.
>
> Joe is therefore really not far from the point...if Unilever lesson  
> is anything to go by. We need a unified approach ...If you want to  
> do business in Kenya...get Kenyan partner...is simply not enough...
>
> We need to get Kenyans in decision making positions also.
>
> PS. Regarding Flo's kind request to facilitate...
> Ownership of the process is what is critical. Locals should not only  
> drive but own and ultimately be responsible for the direction they  
> take. You have done well...but maybe...as Frank Sinatra would  
> sing...its time for MY WAY.
>
> Ciao,
> Bill
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