(Premium) Story in the Nation about the Cabinet being presented with a paper to approve the sale of 25% of Safaricom to the public.
This is a winning card this election year that will be foremost in the minds of investors and voters. A well managed Safaricom IPO before December could deliver more votes than needless voter expenditure or rhetoric from any leader.
Power shift: Meanwhile Bloomberg reports that – for the first time since WWII more money will be raised from European IPO’s than US ones. Stringent regulations, high costs (6.7% of IPO versus 3.3% for Europe) and the weak US$ to blame as 14 or the 15 biggest recent IPO’s were listed outside the US.