<div dir="ltr"><div>Ali,</div><div><br></div><div>This...</div><div><br></div><div>"The auditor, in a report tabled in the National Assembly last week, said
 the agency's liabilities of Sh1.6 billion exceed its Sh386 million 
assets..."<br><br></div><div>What a difference a couple of years makes :-(</div><div><br></div><div>Rgds<br></div></div><div class="gmail_extra"><br><div class="gmail_quote">On Mon, Oct 22, 2018 at 10:44 AM, Admin CampusCiti via kictanet <span dir="ltr"><<a href="mailto:kictanet@lists.kictanet.or.ke" target="_blank">kictanet@lists.kictanet.or.ke</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div dir="auto">I’m curious to understand this insolvency conclusion.<div><br><div>Just picked up this explanation of insolvency from Wikipedia.</div><div><br></div><div><p style="margin:0.5em 0px 1em;padding:0px;border:0px;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none"><span style="background-color:rgba(255,255,255,0)"><b style="margin:0px;padding:0px;border:0px;font-style:inherit;font-variant-caps:inherit;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">Insolvency</b> is the state of being unable to pay the money owed, by a person or company, on time; those in a state of insolvency are said to be <span style="margin:0px;padding:0px;border:0px;font-style:italic;font-variant-caps:inherit;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">insolvent</span>. There are two forms: cash-flow insolvency and balance-sheet insolvency.</span></p><p style="margin:0.5em 0px 1em;padding:0px;border:0px;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none"><span style="background-color:rgba(255,255,255,0)"><b style="margin:0px;padding:0px;border:0px;font-style:inherit;font-variant-caps:inherit;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">Cash-flow insolvency</b> is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty.</span></p><p style="margin:0.5em 0px 1em;padding:0px;border:0px;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none"><span style="background-color:rgba(255,255,255,0)"><b style="margin:0px;padding:0px;border:0px;font-style:inherit;font-variant-caps:inherit;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">Balance-sheet insolvency</b> is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy.</span></p><p style="margin:0.5em 0px 1em;padding:0px;border:0px;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none"><span style="background-color:rgba(255,255,255,0)">A company that is balance-sheet insolvent may still have enough cash to pay its next bill on time. However, most laws will not let the company pay that bill unless it will directly help all their creditors. For example, an insolvent farmer may be allowed to hire people to help harvest the crop, because <span style="margin:0px;padding:0px;border:0px;font-style:italic;font-variant-caps:inherit;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">not</span> harvesting and selling the crop would be even <span style="margin:0px;padding:0px;border:0px;font-style:italic;font-variant-caps:inherit;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">worse</span> for his creditors.</span></p><p style="margin:0.5em 0px 1em;padding:0px;border:0px;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">I suggest that we don’t consume news that is shallow and half baked. This is a critical government agency and sensationalism does no one any favors. The editors have a fiduciary responsibility to expound and give us an in-depth expose of what the auditor’s report actually says and an interpretation of what it means. </p><div>My two cents.</div><br><div id="m_596299892920926635AppleMailSignature" dir="ltr"><div><span><b>Ali Hussein</b></span></div><div><br></div><div style="font-family:Helvetica;font-size:medium">+254 0713 601113 </div><div style="font-family:Helvetica;font-size:medium"><br></div><div><p style="margin:0in 0in 0pt"><span style="background-color:rgba(255,255,255,0)">Twitter: @AliHKassim</span></p><span style="background-color:rgba(255,255,255,0)"><font></font></span><p style="margin:0in 0in 0pt"><span style="background-color:rgba(255,255,255,0)">Skype: abu-jomo</span></p><p style="margin:0in 0in 0pt"><span style="background-color:rgba(255,255,255,0)">LinkedIn: <a href="http://ke.linkedin.com/in/alihkassim" target="_blank">http://ke.linkedin.<wbr>com/in/alihkassim</a><a href="http://ke.linkedin.com/in/alihkassim" target="_blank"><span style="text-decoration:none"></span></a></span></p><span style="background-color:rgba(255,255,255,0)"><font></font></span><p style="margin:0in 0in 0pt"></p><font><span style="background-color:rgba(255,255,255,0)">Blog: <a href="http://www.alyhussein.com/" target="_blank">www.alyhussein.com</a></span><br></font></div><div><span><br></span></div><div>"Discovery consists in seeing what everyone else has seen and thinking what no one else has thought".  ~ Albert Szent-Györgyi</div><div><span><br></span></div>Sent from my iPad</div><div><div class="h5"><div dir="ltr"><br>On 22 Oct 2018, at 8:07 AM, S.M. Muraya via kictanet <<a href="mailto:kictanet@lists.kictanet.or.ke" target="_blank">kictanet@lists.kictanet.or.ke</a><wbr>> wrote:<br><br></div><blockquote type="cite"><div dir="ltr"><div dir="auto">Priorities, priorities, priorities..<div dir="auto"><br></div><div dir="auto">Auditor: ICT authority is technically insolvent<br></div><div dir="auto"><br></div><div dir="auto"><a href="https://www.nation.co.ke/news/Auditor--ICT-authority-is-technically-insolvent/1056-4816222-1ob4pwz/index.html" target="_blank">https://www.nation.co.ke/news/<wbr>Auditor--ICT-authority-is-<wbr>technically-insolvent/1056-<wbr>4816222-1ob4pwz/index.html</a><br></div></div>
</div></blockquote></div></div><blockquote type="cite"><div dir="ltr"><span>______________________________<wbr>_________________</span><br><span>kictanet mailing list</span><br><span><a href="mailto:kictanet@lists.kictanet.or.ke" target="_blank">kictanet@lists.kictanet.or.ke</a></span><br><span><a href="https://lists.kictanet.or.ke/mailman/listinfo/kictanet" target="_blank">https://lists.kictanet.or.ke/<wbr>mailman/listinfo/kictanet</a></span><br><span>Twitter: <a href="http://twitter.com/kictanet" target="_blank">http://twitter.com/kictanet</a></span><br><span>Facebook: <a href="https://www.facebook.com/KICTANet/" target="_blank">https://www.facebook.com/<wbr>KICTANet/</a></span><br><span>Domain Registration sponsored by <a href="http://www.eacdirectory.co.ke" target="_blank">www.eacdirectory.co.ke</a></span><br><span></span><br><span>Unsubscribe or change your options at <a href="https://lists.kictanet.or.ke/mailman/options/kictanet/info%40campusciti.com" target="_blank">https://lists.kictanet.or.ke/<wbr>mailman/options/kictanet/info%<wbr>40campusciti.com</a></span><br><span></span><br><span>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.</span><br><span></span><br><span>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.</span><br></div></blockquote></div></div></div><br>______________________________<wbr>_________________<br>
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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.<br>
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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.<br>
<br></blockquote></div><br><br clear="all"><br>-- <br><div class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><div style="border-collapse:collapse;color:rgb(136,136,136);font-family:'Droid Sans',arial,sans-serif;font-size:13px"><div><font face="Calibri"><font size="2"><b>Regards,</b></font></font></div><div><br></div><div><font face="Calibri"><font size="2"><b>Wait</b></font></font><b style="font-size:small;font-family:Calibri">haka Ngigi</b></div></div><div><div><font face="Calibri"><font size="2"><font face="'Droid Sans', arial, sans-serif" color="#888888"><span style="border-collapse:collapse">Chief </span></font><font color="#888888"><span style="border-collapse:collapse">Executive</span></font><font face="'Droid Sans', arial, sans-serif" color="#888888"><span style="border-collapse:collapse"> Officer | </span></font><font style="border-collapse:collapse;font-family:'Droid Sans',arial,sans-serif;font-size:13px" color="#FF6600">Alliance Technologies</font><font face="'Droid Sans', arial, sans-serif" color="#888888"><span style="border-collapse:collapse"> | MCK Nairobi Synod Building</span></font></font></font></div></div><div style="border-collapse:collapse;color:rgb(136,136,136);font-family:'Droid Sans',arial,sans-serif;font-size:13px"><div><font face="Calibri"><font size="2"><span style="font-family:arial"><font face="Calibri"><font size="2">T +254 20 525 0750</font></font></span></font></font><span style="font-family:Calibri,sans-serif;font-size:13px;line-height:14px"> </span><span style="font-family:Calibri,sans-serif;font-size:13px;line-height:14px">|Office Mobile: +254 716 201061 </span><span style="font-family:Calibri,sans-serif;font-size:13px;line-height:14px"></span><span style="font-family:Calibri,sans-serif;font-size:13px;line-height:14px">| </span><span style="font-family:Calibri">M +254 737 811 000<a style="color:rgb(103,117,58)"><br></a></span></div></div><div style="border-collapse:collapse;color:rgb(136,136,136);font-family:'Droid Sans',arial,sans-serif;font-size:13px"><div><span style="font-family:Calibri"><a href="http://www.at.co.ke" target="_blank">www.at.co.ke</a></span></div><div></div></div></div></div></div>
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