1 ½ years ago a single tremor was a big story. Now they are coming every few hours – today we felt them at 11:50a.m. 1:30p.m, 2:35p.m. and 3:05 p.m. what’s going on at Lake Natron TZ?
Dud dividend Got my biggest dividend cheque ever (i.e. most digits) i.e. a 25,000
Uganda – a payoff from the Stanbic Uganda IPO. But it is almost impossible to cash it in. Stanbic Nairobi look at you like you came from outer space, while my other banks tell met it will cost more than it’s’ worth (about Kshs 1,000) to clear. Remember that next time you go buying shares in Uganda or Tanzania I wish there was a good dividend reinvestment program in place. – I may endorse it to my stockbroker even though there’s not a lot of shares I could but for that (Eveready perhaps?). Any suggestions?
edit Sent in my reader Drop My Load who comments:
Stanbic have issued an email that goes like this:
A few banks have requested me to ask Stanbic Bank Kenya to come with a solution to paying the KES equivalent of the Stanbic Uganda Divident cheques. Stanbic Bank Kenya team has since gotten a solution that I would like to share with you.
Below is a statement from Stanbic Bank Kenya, which we would be grateful if you pass along to the relevant branches and clients who invested in Stanbic Bank Uganda.
” In case of non SBK customers who choose to deposit their dividend warrants in the accounts in other local banks, these banks will route the cheques through SBK for collection in the normal interbank way for foreign cheque collection
The collection period will be 14 days and we shall credit the proceeds by the 15th day. The charges will be – amounts below 1000 will cost ksh 100 and amounts above ksh 1000 will cost ksh 150.”
Ask your bank, they should be able to help.
Strange banking: It’s always a sensitive thing to write about banks since they have customers – some of who are likely to panic and withdraw their funds. But there’s no danger of that with fast growing and strong Equity Bank. Just days before their listing in 2006, one of their directors resigned – could this be the reason?
Loan shares resurface: I&M becomes the first bank to hawk loans to buy Kenya Re IPO shares.
Milk tremor: KCC has overnight raised the price of their plastic milk pouches (500 ml) from Kshs. 22 to 26 (%18). More plastic tax aftershocks?