The Nairobi Stock Exchange (NSE) through a paid statement by its chairman, Mr. Jimnah Mbaru, has responded to recent allegations that the growth of funds invested at the NSE had come from drugs or other illegal sources.
He says it’s mainly from a basic shift among institutions and individuals who previouly used to invest in land and real estate but have now moved to more liquid invstements such as to equities and government securities
The increased funds come from, among others sources:
– many Kenyan parents don’t have to pay primary school fees anymore since the advent of free primary education
– better management & compliance of pension funds who before had too much real estate investments including the NSSF
– increased insurance premium collections and increased corporate retained earnings
– substantial remittances by Kenyans in the Diaspora – estimated at $750 million to $1 billion annually
– international investors
– & first time investors in stock market including over 200,000 who bought into the Kengen IPO
Is mbaru sure?
In any event, I found Raila’s pronouncement too drastic coz most Kenyans don’t have drug money!
Nevertheless, I think Raila knows something about someone!
No broker asks his clients where they got their money from. I think banks usually raise an alert to CBK over suspicious amounts. NSE does nothing when suspicious trading takes place even! So it is a prime place for money laundering. And if Raila got it right on the Mamluki deal, sembuse drug money???
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Its the Trans Century Investment group Raila is reffering to,who are they? who are the real players behind all that money?
Remember how Charterhouse was busted for drug money laundering.Even the US DEA got involved, so people should quit being naive about drug money in Kenya.
Mbaru can talk about small investors all day but we all know that they comprise of less than 5%.
mwasjd and kudrineth: I think it is a waste of precious time and energy thinking or writing of Raila. However, to humor his fans, lets suppose for a moment that Raila is omniscient. S0 tell us why he hasn’t named names? Far am concerned he is a mere tin-god marionette acting on behest of his puppet masters. He believes Kenya is him and he is Kenya: period.
It is a waste of precious time and energy thinking or writing about Raila. However, to humor his cohorts, lets suppose for a moment that Raila is omniscient- tell us why he hasn’t named names? Again lets suppose he and his friends were involved in peddling mihadarati- do you expect he would name names? Far as I am concerned he is a mere tin-god, a pitiful Pinocchio acting on behest of masters known and unknown. He believes Kenya is him and he is Kenya, obviously wishing that Kenyans could somehow become one large constituency: blowing away opportunities to advance their lot, pretending that the country is in a state of war and stagnation waiting with bated breath for him (”the anointed one”?) to ascend to the highest berth in Kenyan leadership, hanging onto every word he utters as Gospel truth, glorifying outdated traditions that daily reduce the wealth of his kinsmen’s nation.
Look who’s talking- how was Molasses plant acquired? Daily he laments his life is in danger- do you believe him? Ask yourself, suppose the so-called mamluki plot were true- how come they failed to fulfil their mission? All petty and cheap headline-grabbing propaganda! Lets not be petty- Transcentury has its owners- and many think they are a roaring success, so who is stopping you from starting a similar enterprise even today. Long ago Odinga Sr registered ”Luo Thrift” for investment by the Luo nation? Who stopped him?
@anon
Raila phobia/mania is well documented and we’re not about to engage that mess so please stick to the issue at hand.
Lets look at the facts;US Drug Enforcement Agency implicates Charterhouse with drugs money laundering(Kimunya cover-up),Largest Drug bust ever in Africa made in Mombasa,Mamluki drug dealers dealing with Kibaki family,Unexplained tradings at the NSE(Mbaru has never released the so called investigations aka cover-ups)
And about naming names,we all know how that goes,you’d get sued and sensenced to jail by the boot-licking,sychophant judiciary(Goldenberg farce anyone).
And dont get me started on assasinations,Pinto Gama Pinto,Tom Mboya,JM Kariuki,Robert Ouko, just to name a few.Notice that they all died partly because they did not raise any alarms.By raising alarm,Raila pre-empts any assasination plans.
Sure Transcentury have their rightful owners,and they’re a success just as the Mafia or the Columbia drug dealers are successful.Its obvious they’re just a front.
Kudr : You are very right i.e. the assassinations, otherwise why would the assasins go ahead with their plot after being busted.
Anon: Yes, they are hard facts – Raila’s claims – but you will not agree.
@kudrinketh: i thought bankelele’s blog was a a none political blog but with railamaniacs like you roaming free here like the gazelles in the mara i have to say i am shocked at your silly outbursts from drug money to tainted judges one would think we are in idi amins uganda with all the waste commming from your dirty mouth.we all know raila and the stupidity that is the man! if you have evidence against kibaki mbaru please procede to the police commish or the nearest police post otherwise save us the stench.so take your odm loving boot-licking,raila sychophancy to your blog and save up the time . the economy is growing period 67% kenyans support him deal with that
@Kenya77
Wow! what a buncha rhetorical darrhea comming from the mouth of the butt-licking kenya77.you’re beyond railaphobic.I addressed issues pertaining to NSE drug money,issues raised by one annon aka Kenya77.
I dont even like kenyan politicians be it in govt or opposition(Raila included).to me they’re all a buncha thieving lazy-ass sucking ticks.but since i’m not a butt-licking sycophant like you,i’m willing to look at the facts without getting all emotional.
For your information,i gave up on kenyan politics a long time ago ,matter of fact i’m not even a kenyan citizen,cannot even vote.while your behind will be yapping kanu juu,nark juu,odm juu,i’ll be doing much productive endeavors.
i have more in common with my US representative than those idiotic people kenyans keep on electing year after year(and then complaining for 5 yrs when the same suckers steal your money,now tell me who’s the fool)
Kudrinketh, by your own words you are not even a Kenyan; you willingly changed your citizenzenship. Anyway since you did, Can you stop preaching to us poor souls who have not seen the light to get converted to sort our own issues ourselves. Please keep your so termed unsycophnatic views to yourself. It’s not rocket science to discern your leaning on the issue at hand. Soon and maybe sooner than you think, we may see the light and share your views.
I’m not ashamed of being an American citizen,i bet you 99% percent of kenyans would not mind switching places with me.(the remaining 1% is the thieving,corrupt,filthy rich,who control the other 99% like indentured slaves)but that does not mean i turn a blind eye on kenyan events.isnt that the same sovereinty crap that moi fed stupid kenyans for years.ati U.S and U.K should stay away from their internal business of stealing with impunity,mass murder,assasinations,dictatorship.
I bet you most kenyans loath their
politicians even more than i do.How do you think they’re feeling right now when their supposedly elected govt is going to bed with the very crooks that kenyans fought to get rid of.
How do yo think kenyans feel about kibaki dealing with that thieving moi, and to add insult to injury,allowing biwott be the official leader of opposition.
And if the majority of kenyans refuse to stand up for themselves,its their loss.i’ll just continue to concider it a cheaper tourist attraction,a place just to visit but never to live.
and since i am not anoymous as you claim let me give you mu version!if you are not kenyan and not interested in kenyan politics then stop talking about them.bankelele himself has said on the raila drug money that raila is a politician and he as an investor is not buying stocks with drug money .so why dont you talk about your representative and the new york stock exchange instead of bad mouthing our judiciary and government .better still stay away from kenyan blogs since you are not investing money in our stock exchange or dont even care for kenya then go to american blogs and blog your stupidity there .otherwise if you cant back up your facts dont bother posting them here or anywhere.
take ur odm loving ass to kansas or to obama dont bring it here .
@stupid-ass kenya77
You know what,i shoulda ignored you stupid ass just like everybody here does.Aplogies to all serious bloggers for engaging this imbecile.
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Kudinketh; Proud to be American indeed: Proud of washing dishes? cleaning up old sickly people? working 16 hrs just to get by? Living daily with direct or implied racist slur?. Come off it, you know being Kenyan was the best deal. I am not about to ditch it.