Category Archives: housekeeping

Missing the TED Party

The ongoing TED Conference in California makes me think back to remember TED Global that was held in Arusha, Tanzania in 2007. From the opening talk by Euvin Naidoo President to the last talk President Jakaya Kiwkete this TED conference was a unique event; it was a magical event full of euphoric, optimistic and inspiring moments. Links, networks and friendship were formed and the path was set out to open a new chapter for Africa, through business & investment, with diseases & poverty largely eradicated. Sadly, in 2009, not much has changed in the continent and even some of the shining economic models then like Kenya, Nigeria, South Africa, have had politics overshadow and handicap their economic ambitions.

Housekeeping

New tools
– Heard about Twitter in Arusha, but only signed up last month. It’s a bigger world than blogging, and fills in a lot of the gaps e.g. found something unique, but too small to post, or you just want to share in a second via mobile phone? Twitter’s the answer!
– Never has much interest in photography as a blog tool, but got a camera now, so fellow shutterbugs – Hash, Mental, Afromusing, Mweshi – your influence has rubbed off, and I’ll be throwing in random photos of travel and daily work events here are a few

forest near Kericho

I found the Ark

would you steal these hotel sandals?
Getting some love
– Bankelele is listed as one of the 100 best blogs to learn about Africa – not sure how the selection was made, but there are some interesting reads on that list 87 Bankelele. Banking and business are at the forefront of this blog written by a Nairobi banker.
– The best way to learn about blogs in other parts of Africa or the non-Western (US, Europe) world is through Global Voices. They have a post that mentions the top-ranked blogs in Africa with Bankelele (ranks 18) from Kenya who writes about baking banking, finance and investment in Kenya and Bongo Celebrity (ranks 20)
– The Business Daily ( a Kenyan financial newspaper) had a feature on blogging with topics like Blog post revolution hits corporate Kenya, Blogs command attention of corporate world, Blogs emerge as avenues for making money, Companies use online platform to monitor views from the public, Fibre optic cable to pave way for corporate blogging, Mounting lawsuits could sound death knell for social sites and What is likely to compete with the mainstream media which noted Some are born out of events like bankelele.com Bankelele, started in 2004 after the blogger attended a “very riotous AGM.” And he describes his blog as “ It’s my diary of financial events —and as a banker and investor. I use it to keep track of pertinent events.

Anyway, I hope to link up with some friends from TED and collaborate on projects in the future and that the Business Daily leads to more corporate blogging opportunities and ideas in this part of Africa.

1000

Housekeeping

This is post number one thousand! Like Romario’s goals, some have been dubious, or forgotten, but many well received. It’s been a great 3 ½ year journey and thanks to all the people I have met, tips sent in, questions asked, frequent commenters et. al

Thank you to my sponsors – Mamamikes and Hisanet – whose support has been a helpful reward for the time put into this medium.

Great people I met this week through KBW, Skunkworks, Makutano, and thank for their time and chats (in no particular order) to AKS (of Rich.co.ke), Coldtusker, EGM, Hash, Intelligensia, Kenyan Pundit, Kirima, Mental, Nakeel, Riyaz, Shiroh Kenyan Poet, Sports Kenya, Alpha Quadrant, and all others from Barcamp, Safari Sevens, and other events this week. I’ll start twittering for Afromusing next.

Safaricom Day 11
Week three kicks off with the company still accounting for over 92% of the shares volume and 75% of the cash at the NSE: Deals 6,151, Turnover Kshs. 785.2 million ($12.27 million), Average 7.82, Closing price unchanged, High 7.90, Low 7.75, Last 7.85, Volume 100.4 million shares.
Rich.co.ke commentary: Market is in equilibrium for now. Short term Investors are still supplying the market just below 8. Very well supported here. I expect a break higher, once the market absorbs the balance. I cannot believe it will be very long because of the activity we have already witnessed.

What’s next
Up next after Safaricom is the KCB rights issue whose options began trading today and whose ‘prospectus is now (PDF)

Saturday Reading

ranks & references

References: Looking for the latest fiction, biographies, financial or other reference books at the Book Villa? The Nairobi bookshop has moved to Norwich Union House 8th Floor (building houses Galitos/Chicken Inn on ground) Moi Avenue. New location is bigger and more spacious than the cramped old location and will soon have refreshments in a reading area with a great view of the city

Ranks: Trying to figure out why Alexa has stalled and why Technorati has refused to refresh for the last three weeks.

Blog Review of 2007

some significant posts from the year gone

January
– Began with a review of 2006. As planned, in 2007 I did fewer posts, traded fewer shares, but did not acquire new tech skills.
– A bit of TMI, but getting hospitalized was a lowpoint
– Wrote about admiration of the work ethic of Asian businessmenand families. Made more poignant when you look at countries that have harassed such entrepreneurs.

February
– As more investors got tired with the hassle of share ownership, many were considering using unit trusts however a caution was the high cost of entry.
– Visit the technological graveyard and reviewed gadgets used and dumped in just a few years – including answering machines, pagers, car phones, cassettes, VHS etc.

March
– Review of mobile money transfer from Safaricom as a threat to debit cards and credit cards.
– Nation Business Daily was launched on March 7 – an all business weekday paper.

April
– The first Nairobi barcamp
– Discovered government payments online – that are larger than 5 million shillings ($71,430)
– Review of the new banks expected in 2007; but by year end only Family Bank and Gulf African had taken off.
– A visit to Masai Mara yieldedno pictures but great insights on the finances involved in the great park.

May
– Kenya Airways had difficult quarter following the loss of a plane and strong Kenya shilling. Poor customer service has since been an issue at the stretched airline since the crash and what does an even stronger shilling at the end of 2007 portend for their income position?
– Got a copy of the controversial media bill, and as predicted it was later passed by a vindictive parliament, before it was amended.
– How much does a week in Kampala cost?

June
– The first anniversary of the collapse of Uchumi and this was shortly followed by one of several unsuccessful initiatives to get shareholders to invest more funds into and revive the company.
– If you have access to some tip-earning positions (tip jar) in Kenya, you may not need to ask for bribes
– Attending TED Global – Arusha was one of the highlights of 2007 for me.
– Joined long-suffering shareholders at the National Bank AGM just as a new dawn beckoned for the bank.

July
– Is the diaspora responsible for the strong shilling and can anything be done about it?
– Attended a Talk by the MD of Rift Valley Railways on the hardships and steps to rehabilitate Kenya Railway network which had essentially collapsed.

August
– While majority of the country thinks parliamentarians are overpaid (also under-worked & under-taxed), the financial burden that their constituents place on them can leave them struggling for cash.

September
-Anti-corruption site, Wikileaks spotlights Kenya with revelations of Kroll report tracing embezzled funds abroad, money-laundering at Charterhouse bank and later the Ndungu report on land grabbing.

October
– Lamented my inability to view Youtube or TED Global videos, video or other vital online content owing to the slow internet connections we have.
– Attended a talk given by John Gakuo – the man largely responsible for cleaning up, making safe, and beautifying Nairobi over the last few years. The Town Clerk will have to do it all over again as hawkers, garbage, and petty crime all filtered back into the city of the December election period.
– Can we talk about something other than AIDS (in Africa)?

November
– Pondered if depositors in Shariah accounts enjoy the same protection (up to 100,000 shillings [$1,500] on their deposits in case a bank collapses as do other account holders.
– Watched the just released American Gangster and realized that we have several local examples i.e. drivers, clerks and other ‘lowly’ officials who later become business moguls.
– Witnessed the baptism of the new CFC/Stanbic bank as CFC shareholders endorsed the country largest banking merger.

December
– Did the first of three part review of the banking sector performance in 2007.
– Also reviewed predictions for 2007 as they appeared in the December 2006 Business Post magazine – which included a win, not a rigged/theft, of the presidential vote by the incumbent.

Plans for 2008
Travel more within Africa and explore the banking systems in other developing countries.

Anniversary Redux

Thanks for all the great comments on the 3rd anniversary post.

I’d also like to salute Kenyan Pundit, an inspiration to taking blogging mainstream, on her 4th anniversary (also the first blogger I met).

I’d also like to salute site sponsor Mama Mikes on their
new blog – hopefully that will spur more local companies to take up corporate blogging.

I’d also like to thank other financial bloggers who help share the burden of disseminating and discussing financial information as it occurs here – and these include Cold tusker, Fintrade Capital, Kenya Capital Investment Group, Nairobist, Odegle Nyang (who’s able to mix in political angles), Pesa Tu, Riba Capital, Aly Khan, Ka-Investor and Tanzania Common Cents to name a few.

Thank you for all the people who ay that they have been inspired to start blogging

You said, you said
– More AGM’s: absolutely! In fact, anyone who goes to an AGM is welcome to submit a report here
– Monetization; absolutely, always on the lookout for more sponsors. But this site will remain free. Even the WSJ and New York Times have realized that free content is the way to go
– Background: white/ black does not matter. But I’ m shocked that there are people having trouble reading the white screen.
– Job postings: will continue. They have been useful to some, but not to others
– M I hear you on your points.
– More writing on economics and inflation local development, other African countries, entrepreneurship – Yes
– Politics? No, I’d rather not, there’s enough elsewhere
– Partnerships with other bloggers? Women perspectives? I’d appreciate AGM reports, and any other posts of note for republishing. It’s amazing who know more about economics than you do and where you can learn more from unexpected sources. E.g. talking to Binyavanga Wainaina in Arusha I was amazed by his views on the work ethic and entrepreneurial potential of the Chinese companies and Eritrean nationals. He should write more on economic issues along with literature!

Any other suggestions, e-mail is on the about page