[kictanet] [kicktanet] Key ICT Sector Takeaways from 2016/17 Kenya Budget

[Joseph Mucheru]

John,

We spent 2/- (two kenya shillings) to get an extra 10% shareholding and 40%
of the debt TKL owes. Whether TKL is able to recover remains to be seen (Am
optimistic it will and so are Helios). Key point is we have given the
company a chance to improve its fortunes. You are right we should be
divesting but not a loss.

thanks

On Sun, Jun 12, 2016 at 11:00 PM, John Kieti <jkieti at gmail.com> wrote:

> Good summary Martin and thanks CS for clarification.
>
> I may have missed the news so am wondering if anyone can explain the move
> by Government to invest further in Telkom Kenya. I thought we were
> divesting from Telcos so the increased cash outlay to Telkom Kenya came as
> a surprise.
>
> Best.
>
> On Sun, Jun 12, 2016 at 4:33 PM, Joseph Mucheru via kictanet <
> kictanet at lists.kictanet.or.ke> wrote:
>
>> Hi Martin,
>>
>> I have two clarifications for you.
>>
>> 1: Laptop project got the full allocation, we used some of the 17bn this
>> financial year (15/16) hence the balance in 16/17 is less.
>>
>> 2: We bought an extra 10% shareholding in TKL for Kes 1/- and further we
>> bought 40% of the debt TKL owed orange (about Kes 30bn) for another kes
>> 1/-. Meaning in the TKL balance sheet, they owe GoK about 12bn. 40% of the
>> 30bn shareholder loan. Balance is owed to Jamuhuru Holdings which is 100%
>> owned by Helios Fund III
>>
>> Thanks
>> On Jun 10, 2016 8:19 AM, "Martin Gicheru via kictanet" <
>> kictanet at lists.kictanet.or.ke> wrote:
>>
>> What does the 2016 Kenya budget have for the ICT sector? Here is what we
>> picked
>> <http://www.techweez.com/2016/06/09/ict-sector-kenya-201617-budget/>.
>>
>> Regards,
>> Martin Gicheru
>>
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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.
>>
>
>
>
> --
>
> John Kieti
> Phone: +254-735-764242 // +254-722-764242
> Twitter: @johnKieti // Skype:  jkieti
> Blog: gmeltdown.com <http://www.gmeltdown.com> // LinkedIn:
> https://ke.linkedin.com/in/*kieti* <https://ke.linkedin.com/in/kieti>
>
> The ordinary just won't do
>



-- 
Joseph Mucheru M.B.S
+254722522135
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