Category Archives: Kengen IPO

Slow Week

VoIP for all
Effective October 11th, all existing ISP licences will be amended by the Communications Commission of Kenya allowing providers to offer VoIP services.

Mystery IPO
While Kengen continues to stream roll its way to the NSE, much less is known about the Equity Bank IPO.

Safari conned
Many more people are now signing up for Safaricom’s post-paid service which offers cheaper call rates of about 10 shillings per minute all day. But many of these new subscribers are not aware that they may be entitled to a new phone under the package offer – presumably some dealers are pocketing, and then re-selling these phones.

Enable business mobile
The Nation media group (through Safaricom) now offers access to its business directory. Send an SMS “GET bankelele” to 2102 and you’ll get the telephone number of a business at a cost of 10/= per request.

Beyond the Eclipse
Russia is planning to launch a rocket from an Italian satellite platform located at San Marco, on the Kenyan coastline.

Parastatal Reforms

Parsatatal reforms are one way in which the government is honouring its pledges to Donors, however getting privatization bills passed in a divided Parliament will not be easy. The government has identified corporations it intends to retain and it will dispose of 59 others.

To be retained include National Cereals and Produce Board (agree), Kenya Broadcasting Corporation (absolutely not), while shares in Kenya Ports Authority (KPA), Kenya Railways Corporation, Kenya Airport Authority and the Mombasa-Malaba road will be made available to the public.

On a positive note, the Government has, so far, admirably demonstrated the transparent process in its privatization (sale of 30%) of Kengen.

Coming soon to the NSE

The Kenya Electricity Generating Company (KENGEN) placed an advertisement in the Nation (Feb 16) seeking a legal advisor to assist it float 30% of its shares on the Nairobi Stock Exchange.

Kengen is the leading electric power generation company in Kenya, producing about 80% of electricity consumed in the country, and is an LLC wholly by the Government of Kenya.

Other companies who have recently expressed interest in listing on the NSE are Mabati Rolling Mills, Equity Bank, and Safaricom