[kictanet] Bloggers and Social Media are not to blame for the Chase Bank crisis

Sun Apr 10 13:43:41 EAT 2016

Social media can't be to blame and the attempts to blame it on bloggers is
wrong. Good news spreads fast, but bad news spreads like wildfire.

The failures of regulation shouldn't be visited upon 3rd parties who shared
critical information (read irregularities) the regulators/insiders knew
about but were keeping under the carpet. It's ridiculous that a blogger was
arrested even before the guys who brought the bank down were, who I hear
are still enjoying their loans.

Those who were able to get their funds out are thanking social media as now
they would have had to wait till who knows when to access their funds. Keep
tweeting, blogging and sharing. That's what social media and freedom of
expression is all about.

Victor
On 10 Apr 2016 10:30, "Ali Hussein via kictanet" <
kictanet at lists.kictanet.or.ke> wrote:

> Hi All
>
> Social Media/Blogging per se isn't to blame. Its some of the irresponsible
> behaviour of some of us that are to blame. Let me enumerate:-
>
> 1. The new openness that has been brought about by citizen journalism has
> obvious and major implications on our society.
>
> a) Citizens need to take their new found power with the seriousness it
> deserves - reminds me of the old adage - With Power comes great
> responsibility.
>
> So before you make that tweet, retweet, post, blog, forward (with the
> cynical ender - *forwarded as received*) weigh your options and consider
> the ramifications. Is it for the greater good? Is it for some macho reason
> of 'being the first to tweet it', have you in anyway verified the
> information? Is it of import to society?
>
> b) For governments the world over and Kenya's in particular - Don't kill a
> mosquito with a hammer. Hauling someone to jail because they shared
> something to do with an industry that is now seen with the same eyes of
> impunity that we see politicians is the height of impunity itself. Get on
> with the program. Embrace the new world because I have news for you - It
> ain't going anywhere.
>
> For a hint of what you should do follow the example of one, Ezekiel Mutua,
> who has learnt very fast that to engage in the platform of Public opinion
> you must use and muster the same tools your detractors are using.
>
> In shot Mr. Big Shot Politician or Civil Servant:-
>
> Don't enter a Hackathon with an IBM Typewriter. Hutatoboa daddy..(You
> won't get anywhere).
>
> 3. To the CBK appointed Receiver Managers (as they are the ones in the
> spot light right about now) I have some advise for you:-
>
> Convince us that you are not parachuting in like a vulture to finish off
> the carcass. Chase Bank had arguable the best CRM system & execution in the
> banking sector. When you were switching off the core banking and ERP system
> you should have left the CRM System and Customer Service team well alone.
> Make those work to calm customers instead of switching off everything..
>
> We all have a responsibility here to ensure this new dispensation works
> for all of us otherwise I fear that David Ndii will eventually be proven
> right - This Nationhood experiment is a disaster.
>
>
> *Ali Hussein*
>
> *Principal*
>
> *Hussein & Associates*
>
>
>
> Tel: +254 713 601113
>
> Twitter: @AliHKassim
>
> Skype: abu-jomo
>
> LinkedIn: http://ke.linkedin.com/in/alihkassim
> <http://ke.linkedin.com/in/alihkassim>
>
>
>
> Any information of a personal nature expressed in this email are purely
> mine and do not necessarily reflect the official positions of the
> organizations that I work with.
>
>
>
> *Ali Hussein*
> *Principal*
> *Hussein & Associates*
> +254 0713 601113 / 0770906375
>
> Twitter: @AliHKassim
>
> Skype: abu-jomo
>
> LinkedIn: http://ke.linkedin.com/in/alihkassim
>
>
> "Discovery consists in seeing what everyone else has seen and thinking
> what no one else has thought".  ~ Albert Szent-Györgyi
>
> Sent from my iPad
> On Sat, Apr 9, 2016 at 11:21 PM, Grace Mutung'u (Bomu) via kictanet <
> kictanet at lists.kictanet.or.ke> wrote:
>
>> Thank you Wamathai. We expect that there shall be more focus on the role
>> of social media in governance and freedom of expression vis a vis public
>> interest in the coming days.
>> Hope there can be some direction on how to treat this issue with fairness
>> to all and with regard to the Constitution.
>> Regards,
>> Tarehe 9 Apr 2016 13:27, "James Wamathai via kictanet" <
>> kictanet at lists.kictanet.or.ke> aliandika:
>>
>>>
>>> http://www.blog.bake.co.ke/2016/04/09/bloggers-and-social-media-are-not-to-blame-for-the-chase-bank-crisis/
>>>
>>> "The continuous and sustained efforts to blame bloggers for the
>>> financial turmoil at Chase Bank cannot continue unabated. A statement from
>>> the Central Bank of Kenya (CBK) blamed bloggers stating “Chase Bank Limited
>>> experienced liquidity difficulties, following inaccurate social media
>>> reports and the stepping aside of two of its directors.”
>>>
>>> Nothing can be further from the truth. Chase Bank was put under
>>> receivership on 7th April, 2016 for liquidity challenges due to lack of
>>> integrity by the management. None of the top directors; the Chairman and
>>> the Chief Executive are bloggers. No blogger or social media user was the
>>> recipient of the huge loans the directors and staff of the bank gave
>>> themselves, against banking regulations."
>>>
>>>
>>>
>>>
>>>
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>>
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>> The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform
>> for people and institutions interested and involved in ICT policy and
>> regulation. The network aims to act as a catalyst for reform in the ICT
>> sector in support of the national aim of ICT enabled growth and development.
>>
>> KICTANetiquette : Adhere to the same standards of acceptable behaviors
>> online that you follow in real life: respect people's times and bandwidth,
>> share knowledge, don't flame or abuse or personalize, respect privacy, do
>> not spam, do not market your wares or qualifications.
>>
>
>
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>
> The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform
> for people and institutions interested and involved in ICT policy and
> regulation. The network aims to act as a catalyst for reform in the ICT
> sector in support of the national aim of ICT enabled growth and development.
>
> KICTANetiquette : Adhere to the same standards of acceptable behaviors
> online that you follow in real life: respect people's times and bandwidth,
> share knowledge, don't flame or abuse or personalize, respect privacy, do
> not spam, do not market your wares or qualifications.
>
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