Chasing another pig

Chasing another pig through the village is a German phrase I found in the Economist and which refers to pushing a new cause before finishing an old one.

And this can probably be an accurate description of an upcoming directive by the government to do away with 14-seat matatu’s in favour of larger 25-seater matatu’s (pictured)

Firstly, at this point, initiatives from the Government has so discredited that Kenyans are immediately suspicious that someone in government is pulling a deal whenever a new directive is issued (new passports, seatbelts, sugar/maize importation, state privatisation).

Just two years ago, matatu owners spent thousands of shillings on driver uniforms, re-painting, re-fitting their vehicles with seatbelts and new seats, etc – and now those who own 14-seat vehicles have been told to pack them up as well.

The main difference between 14 and 25 seaters is the source and cost. While most 25 seaters are locally assembled by General Motors and other companies and are sold for over 2 million shillings, the 14 seaters are either older tourist (9 seat) vans or used imports from Dubai or Japan costing less than a million shillings.

There was a time when Nairobi and Mombasa were served by large buses which were even dedicated to school routes and students could buy passes for a term and not have to carry cash for bus fare every day. The buses could carry about 90 people (seating and standing, but with the introduction of matatu’s the buses could not compete and withdrew from many routes to focus on major commuting areas. What next – will the government advocate a return to the bigger 50 seat buses (and allow standing passengers), which can’t manoeuvre on many small roads and in estates?

The problems of urban transport will not be solved in a day or from one directive but I think the major problems are the lack of mass public transport and the large number of private cars on the road with single passengers (e.g. me)

Other measures that can be attempted:
– Tear up Nairobi and plan & build a whole new city (Aut already been done in Abuja, Nigeria with mixed results)
– Car-pooling (but can’t be enforced and private car owners will run their cars as taxis by charging their passengers a fare)
– More railways – (but there’s no land and no caash for new railways in the City)
– More roads, (in progress, but very slow)
– Alternative work hours (to reduce rush hour jams)
– Hefty commuter taxes (like London is trying) for private drivers
– Create special lanes for motorcycles and bicycles (also with obstacles/barriers to prevent matatus & cars using these special lanes)

No Kengen

 

Every investor I know is interested, setting money aside, and eagerly awaiting to buy Kengen shares – and time and again, investment bankers, government officials, and institutional investors have expressed sentiments that this will be the biggest IPO in Kenya’s history

But now the Sunday Standard has reported that the IPO will may lock out anyone who can’t buy a million shares – which is contrary to earlier expressions on the part of the government that the IPO would be as fair as possible and be allocated to as many investors.

I don’t read political mischief in this, but it appears that Kengen is a can’t lose investment – and whoever gets the shares at say 20/= will immediately flip them on at the market price (say 100+ shillings) earning a substantial profit (and with no capital gains tax in Kenya, huge profits will be made). Still, I am hoping that the controversial clauses may be removed to enable us small investors, who can’t afford a million shares, to get a chance at the NSE’s version of Goggle

February 3

Jobs

Oriental commercial bank: (formerly Delphis)
– Branch managers
– Head of finance
– Head of internal audit
– Head of technical services
– Head of treasury, foreign exchange, and international banking
– Deputy general manager
Apply through the executive selection division of HLB Zainash Consulting at consult@ashvir.com by February 7

K-Rep Bank
– bank clerks
– business development officers

KADET: The Kenya agency for development of enterprises & technology (KADET) a world vision international subsidiary
– Audit assistant
– Accounts assistant
Apply to kadetrecruit@wvi.org by February 8

UNDP/GOK: public sector reform/development secretariat
– Program coordinator: transformational leadership ethics and values
– Technical coordinator: information and communications
– Program officer: transformational leadership ethics and values
Apply though inmail.kenya@undp.org by February 6

Caritas
– Finance & Administration officer at Caritas, a Roman Catholic aid agency, who will be based in Nairobi, with frequent travel to Sudan and Somaliland. Apply through jobs@caritas-switzerland.org by 12 February

Millennium Villages Project MVP of the World Agroforestry Centre (ICRAF) – based in Kisumu
– Project Manager
– Operations Manager
– Agricultural Coordinator
– Health Coordinator
– Infrastructure Coordinator
– Community Development Coordinator
– Enterprise Coordinator
Apply via icrafhru@cgiar.org by 15 February.

HLSP
HLSP is an international organisation working to improve world health with opportunities in Nairobi
– Business Manager
– Project Officer

Symphony a leading regional IT company
– channel manager
– sales executive
– products & procurement manager
– admin assistant
– senior accountant
– accounts assistant
– system engineer
apply though hrd@symphony.co.ke by 10 February.

Bank News

IFC will set up a regional credit reference bureau in Nairobi to serve Kenya Uganda Tanzania Rwanda and Burundi.
CFC will launch a credit card this year.
Consolidated Bank has added on ATM’s (Kenswitch networked) in Isiolo, Nyeri and Maua.

Corporate News

Half-year corporate results as at December 31

Mumias Sugar: Six-month revenue increased from 6.39 to 6.92 billion shillings despite selling 5% sell sugar and generating 50% less cash. After tax-profit rose from 567m to 774m and the company will pay an interim dividend of .75 per share (last year was .6) to shareholders on March 27

East African Portland: Turnover at the cement company increased from 2.59m to 3.11 billion shillings and after tax profit increased from 252m to 594m shillings. The company will pay an interim divided of 1.3sh per share on March 31. The company’s performance was assisted by the strong shilling versus the Yen in which the bank is servicing a huge loan.

Unga: Turnover was flat – 3.79 billion shillings ( 3.74b in 04) and after tax profit is still low, but increased from 34 to 73 million in the half year.

Sports
Saturday 04 February
3:30 PM AFCON:: QF 3: Nigeria vs Tunisia
4:15 PM 6 Nations:: Ireland vs Italy
5:30 PM Everton vs Man City & SS6 Birmingham vs Arsenal
6:30 PM 6 Nations:: England vs Wales
7:30 PM AFCON:: QF 4: Cameroon vs Ivory Coast
8:00 PM Man Utd vs Fulham
8:15 PM Indoor GP: Stuttgart, Germany
10:15 PM Real Madrid vs Espanol

Sunday 05 February
4:00 PM Tottenham vs Charlton
5:45 PM 6 Nations:: Scotland vs France
6:30 PM Chelsea vs Liverpool

Monday 06 February
2:00 AM ESPN Superbowl XL: Seattle Seahawks vs. Pittsburgh Steelers
7:15 AM Pakistan vs India 1st ODI

K-Street encounter, and other (in) security matters

not what you’re thinking
Last night, I was driving home alone after a stressful workday. It was about 7:15 PM and I was at the traffic light at the end of Koinange (K) Street about to turn onto University Way. Koinange Street is notorious for its red-light nightlife, which normally stars after 9 PM.

I was the second car behind the traffic light and, as usual, I left some space between myself and the two cars ahead. A man (not a parking boy) stepped onto the street and began begging from the drivers of the two cars ahead. In my headlight, he was really rugged and dirty, with one shoe, looked drunk/high, and kept making gestures as though he wanted food in his mouth – but he got nothing from them.

He then walked down the street past me, and then appeared to remember that he had passed a car. He turned and came up to my closed window and repeated his hungry gestures. I ignored him and he stepped back. I tracked his movements in my rearview mirror as he walked round the back of the bar and came round in front of my empty passenger side.

All this happened in a few seconds: He then reached down and tried to pull out my left headlight. I wasn’t aware of what I was doing, but I engaged gears and stepped on the accelerator shoving him away from the car. It didn’t appear to bother him and he walked round the back of my car again. It took a few moments for me to find the reverse gear and eventually I engaged it and moved back by a few feet towards him – and so he walked away and disappeared into the dark alley by Lillian Towers.

I drove into the Vice Preston petrol station where I got out and examined the car for damage, and thankfully there was none. In the past I have seen parking boys on TV, extracting headlights in seconds using screwdrivers or other crude tools – but I think this dude was too stoned and had tried to do the job with his bare hands.

Anyway, this all got me thinking: What if my small bump with the car had not chased him off? Would I have had the courage to run him down? And then what next? Would I have stayed to finish him off/or help him up, or would I have driven 100 meters to Central Police Station, and what would I have reported there? And if a crowd had appeared on the scene, would they have beaten him for being a thief, or stoned me for deliberately running over a hungry, beggar? And if I had seen him carrying my headlight, would I have unwisely got out of the car to get it back from him?

Security industry
The security industry is one area that has experienced tremendous growth over the last few years. Insecurity has gripped the country and especially our leaders. Buildings everywhere are being fenced off and fortified. In front of the Treasury, there is now a 24-hour roadblock /security checkpoint and another one in front of Central Bank. One senior official even (reportedly) has a full-time armed guard in his office, even when he has meetings or visitors.

Ministers and senior government officials are escorted by chase cars full of bodyguards who all speed down the wrong side of roads to bypass (insecure) traffic jams. No one is too un-important to qualify for some extra protection – from MP’s to Narc activists, Kikambala bombing suspects, to department heads and other ‘VIP’s.

It is common to see buses, minivans or some other uninsured GK vehicles early in the morning or evenings dashing across town, full of policemen with their rifles going to relieve other teams that are guarding so-and-so’s houses.

The average Kenyan has deal with a verity of hostile elements, but it appears that these superheroes face a whole other set of super villains and need some extra powers and protections.

Mata Hari

But all the physical security in the world is not enough to protect anyone from their own worst enemy. Loose lips sink ships and just as Kiraitu probably regrets all the talks he held with John Githongo, there is little one can do to secure the words we speak (unless we start acting like the Mafia, and speak in code or assume that all conversations are being recorded)

One night this week at an upscale restaurant, one official was helpless in the hands of a Caucasian lady who, though appearing to be attracted to the man and his every word, pawed and milked him for sensitive information about his powerful government job which he happily provided. Meanwhile he probably had a security team outside waiting to safely escort him home.

Talking Point
Why do most policemen have cell phones (and very good Nokia models) and which they use to report all police matters. Don’t they have walkie-talkies any more, do they trust their radios or are the radio networks unreliable? Who buys airtime for the cops cellphones?

January 27

bank jobs

KCB
– IT security manager: applicants should have university degree with 5 years banking experience, 2 in IT. Also possess CCNA and some security certification (CISSP, CISM, or Comptia+) in addition to good knowledge of Oracle and Swift systems. App to the divisional director, HR, P O Box 48400-00100 Nairobi by February 10
– Director – Marketing: Applicants should have MBA, a professional marketing qualification and 10 years marketing experience – 5 of which should be at banking, finance, FMGC or services-related organization. Apply through Hawkins associates at hawkins.associates@khigroup.com by 13 February

HFCK
Apply for the vacant position of Managing Director at Housing Finance Company of Kenya (HFCK). Applicants should have MBA, 10 years banking experience, 5 leading a bank or major department of one. Apply through (ref MD/01.01) esd@deloitte.co.ke by February 10.

IFC
At the Growth Oriented Women Entrepreneurs (GOWE Kenya) program of the Private Enterprise Partnership for Africa (PEP Africa) at the International Finance Corporation (IFC)
– Program manager
– Business development officer
– Financial analyst
Details at their site and apply be February 7.

World Bank
The application window for summer internships closes on January 31.

financial jobs
Oserain Development Company
– Accountant: must have business degree and be fully qualified accountant with 3 years experience.
– Assistant accountant; must have business degree, at least CPA 2 and a years experience.
Apply to jobs@oserian.com by February 10.

Vegpro
Financial Controller – farming division. Applicants should have CPA (K) and good knowledge of pastel & tally accounting systems. Apply to group human resource manager, P O Box Kenya 32931-00600 by February 15.

Kenya Orient Insurance
– Branch Managers: Applicants should be aged 30 – 35, have business degree and 3 years marking experience, preferably with insurance company. Apply to info@korient.co.ke.

Coca-Cola
sales & marketing (40 opportunities) at Nairobi Bottlers. Apply to vkimeria@ccsabco.co.za by February 2.

Opportunities

Airports
Firms are invited to set up restaurants, fast food outlets, ATM facilities Forex bureau, cold storage, curios, petrol stations shopping malls or other businesses at Moi International Airport – Mombasa. Apply to the Airport Manager, MIA, P O Box 93904 Mombasa.

Petrol/Oil sector

Somken: Somken are selling 45 petrol stations located in prime urban areas such as Nairobi and Mombasa. Send bids to somken@dyerandblair.com by February 18.
Kenol: Results are now out for the financial year ended in September 2005. Turnover was up from 34.5 to 41.7 billion shillings and after-tax profit rose from 839m (8.20 EPS) to 916 million shillings (8.92 EPS). The company will pay a first and final dividend of 2.25 shillings per share after their AGM on March 28.
Shell/BP
Over a year ago I complained to Shell Kenya about the diesel fuel sold at one of their stations that is now closed.

Other News
– Western Union is for sale: it is being spun off by the parent company.
Newspaper inflation On the same Saturday early this month, both the Standard and the Nation raised the price of their Saturday editions from 35 to 40 shillings.
– Kenyan Pundit suggests that someone should investigate the procurement/source of Alco-blow gadgets
– Things fall apart. The managing director of the booming Panari Hotel has resigned
– The Economist writes aboutcorruption in Kenya
– After a year’s silence John Githongo has returned.
– Richard Leakey argues that for wildlife (and the Kenya tourism sector) to survive the current drought, national park boundaries should be flexible to enable animals to migrate out of parks in search of water and food.