Bad driving Roundup

bad driver Index
The other day I was stuck in a meeting and had a chance to observe traffic at the Kenyatta Avenue /I&M Towers intersection – and realized how bad we are at driving. A few minutes later I was down there myself adding to the chaos nosing a car foot-by-foot through until other driver had to yield.

While the most aggressive drivers appear to be matatus, taxis, citi hoppas, we are all to blame as regular motorists because we are equally bad drivers. Driving along the roadside, changing or creating extra lanes, doing u-turns etc.

Matatu and other bus drivers can get reported by sending an SMS to 2333 and once a month the Ministry of Transport will publish all these offences in a full page spread in the newspaper.

But there’s no mechanism for reporting private motorists or consequence for private bad drivers.
I wish the Ministry would extend the program to private motorists – in conjunction with Safaricom or Celtel – and enable motorists, or pedestrians to report bad driving by any driver. The difference is that only motorists who pile up more than 5 or 10 offences a month (reported by different people) get printed in the paper and asked to appear before the traffic court to answer for driving offences. I wonder how many times I’d appear on that list!

But motoring is only an extension of our aggressive/ rude inconsiderate selves that can be manifested anywhere, not just when driving.

Consider these other examples from a supermarket last weekend;
– Our inability to form a queue. Uchumi has a sign clearly indicating where to line up for bread – but which most customers ignore as they crowd the counter and yell out their orders for hot loaves or croissant
– A man with his kids on his way to a birthday party who pushed a full trolley through the 3 items only aisle. When I asked him if he understood the policy of the aisle, he said he was buying only 3 items – chocolate bar, bag of sweets, and balloons – but 10 of each item which unfortunately also had to be rung up separately by the cashier!
– Another day, a lady with her young daughter who paid for her items only to realise that her young daughter had picked out the wrong type of lotion. But instead of dealing with it later, she shoved a 1,000 shilling note at the cashier and dashed back into the supermarket to pick up the correct bottle – leaving five of us in the 3 items express queue also waiting to be served. To add insult to the matter she bumped into an old friend and had a chat for a minute while the rest of us stood and muttered insults under our breath.

Enough about that.

Airlines
Just about 20 months ago we marvelled at Kenya Airways whose share price had just shot up into the 60’s – before it went on to hit 140 and settle around 120 shillings a share. At the same time Richard Branson was setting up a Virgin partnership in Nigeria and the first scheduled airline services were resuming to the Sudan

Today, Kenya Airways share price is back in the 60’s, Virgin Atlantic’s boss is here to firm up his launch plans for the Virgin Airline and there seems to be a new airline to the Sudan every month.

Francis Thuo
Today, March 21, marks the deadline for investors and creditors of Francis Thuo Stockbrokers to have filed their claims with the statutory manager.

Busy paper pushers
There are people employed at organizations whose job is to align their organizations to the national goals of the day. Like chameleons, they alter their corporate objectives, mission, and policies to ensure they are aligned to ensure 10% economic growth, millennium development goals(MDGs), zero based budgeting, and now Visions 2030 etc. Also in a touch of electioneering they have been asked to mention what constituency any/all their operations are – which will no doubt end up in a little booklet that will be dished out by November.

More media
Amid the changes at KTN comes a new television station to Kenya with a twist: first to broadcast vernecular language

Finally
driving horror tale A bank manager parked his luxury car on the street during the daytime and came back to collect it at about 8 p.m. He entered and drove towards home along well-lit streets till near Westland’s when he noticed that he couldn’t see the road very well. He parked at a petrol station and got out – only to find that his car had no headlights. They had all been removed by street boys back in town, and he had blissfully driven this far courtesy of Adopt-a-light streetlights.

Drummond Investment Bank

Yes, the beleaguered stockbroker Francis Drummond is now Drummond Investment Bank as per the latest licensee list from the equally occupied Capital Markets Authority.

Other Notes
– Zimele has two new unit trusts – a balanced and a money market fund
– Suspended Francis Thuo is now missing from the list of stockbrokers, but so is Faida Securities. Is that an omission?
– Uchumi advisers Royal – who later became Amana, are missing as are B A fin. Mgmt and Interglobal who have officially been deregistered. Meanwhile Inter Alliance International are new investment adviser
– Equity Bank now joins the list of authorized depositories

Safaricom Valuation?
The government has valued the 9% of Safaricom shares pledged to banks who advanced a bridging finance loan to restructure Telkom Kenya at 5.835 billion – placing the whole company’s valuation at about 64.83 billion shillings ($926) million and second to EABL at about $1.4 billion)

Edit: Allowing for banks discounting the shares at 60 – 70% of nominal value, puts the value of the company at between 92 and 108 billion shillings.

Giving banks a legal hand

The judiciary has been the bane of banks, taking forever to get things cleared. You can apply for a case against a debtor today and be told the next hearing date available is in 2008.

Something is very wrong when a case can’t be heard for almost ten months. There’s enough blame to go round – complex cases heard using archaic processes, too few judges, judges who take too long to clear cases, lazy/crafty lawyers who seek a postponement for any reason to keep cases going on forever etc.

The Chief Justice tried to give a helping hand in his gazette notice to stop one delaying avenue where matters relating to a case are presented in different courtrooms around the country. The most visible case has been the ongoing Charterhouse Bank saga which has been in courthouses in Nairobi, Malindi and Eldoret leading to conflicting legal positions.

jobs

from the daily papers last week
– Accountant at Bakri international (oil company). Apply to bakri@accesskenya.co.ke by 25/3
– Senior associate at Creative Associates International. Apply to recruitment@caii.com by 23/3
Ernst & Young: tax trainees and an accountant. Apply to Eyrecruitment@ke.ey.com by 30/3
Huawei: transmission engineer, wireless engineer, and intelligent network engineer. Apply to kenya@huawei.com by 30/3
– Communications specialist at ILRI. Apply to recruit-ilri@cgiar.org b 30/3
– Property manager at international house limited. Apply to jobs@ihlkenya.com by 26/3
KPMG: audit manager (AM-07), senior internal auditor & internal auditors (IAS-07), tax manager (TM-07) and tax consultants (TC-07). Apply to esd@kpmg.co.ke by 30/3
– Cluster manager at millennium villages. Millennium Promise is a partnership of the Earth Institute (Columbia University) and the World Agroforestry center. Apply to j.morabu@cgiar.org by 30/3
National Oil Corp of Kenya: depot accountants (Nakuru & Eldoret), and a credit controller. Apply to hr@nockenya.co.ke by 29/3
– National coordinator – African peer review mechanism at NEPAD Kenya secretariat. Apply to jobs.ke@undp.org by 23/3
– Business development manager at Savings & Loan (KCB subsidiary).
– Financial management specialist at the World Bank. Kenya. Details and apply online by 30/3. Also, financial management consultants (6 months and 12 months) – D/L is 11/4
World Vision: ICT manager at world vision, Manager – KUTER initiative, and (RMB/IMCI) program officer. Apply to recruit_kenya@wvi.org by 30/3

Money Transfer within Kenya – Part II

Part I has come to pass with Safaricom’s new M-Pesa service enabling money transfer via cell phone.

Mzansi Kenya: The new technology does not pose a threat to banks as it operates outside banking circles. What banks should look out for is a populist attempt introduce mzansi style banking as they continue to report super profits year after year which are unfairly attributed to excessive fees they levy on their customers.

Visa, watch out: The next group to watch out for what’s happening at Safaricom should be Visa and other credit card manufactures in Africa. Cell phone airtime is virtual money – which is what debit and credit cards are – enabling customers and merchants to exchange virtual payments settled days later – at a substantial fee to both parties.

With cell phones, this is already happening but it’s just not formalized. The Option – Safaricom’s free magazine publication has a letter to the editor this month from Joe Nickson of Kerugoya (central Kenya) who paid his fare in a matatu (bus) by transferring 50 shillings airtime to the conductor’s phone and he received 30 shillings actual cash as change.

Airtime offers many more possibilities – 7 million cell phone (including more post-paid cell phone customers) vs. 100, 000 credit card users in Africa. Alongside his credit card terminal, a merchant can have a terminal with a dedicated cell phone line to receive virtual payments of airtime from Safaricom users making small purchases. At the end of the day, he’ll be able to check his virtual balance – and either re-sell the airtime to customers or use it to purchase other goods.

Another advantage of cell phone payments is they require no background checks or credit history.

Could Safaricom go to a higher level and enable online payments to enable their subscribers to buy over the web and pay by transferring payments to a website like Mamamikes or is that already happening?

Nation Business Daily

The Nation Media Group started publishing the new business daily on Wednesday March 7.

It was first mentioned at the Nation AGM in May 2006 and it hit the streets just three months after a new look Nation was published on December 1.

I hope they consulted their readers like the Wall Street Journal did before they also made changes last year. The WSJ is one of the few to increase subscribers (10%) at a time when most newspapers and magazines are experiencing declines.

Newspaper affordability
Three days out and I am one of the few who has bought all issues so far at 50 shillings ($0.70) each. I don’t expect to be a long-term customer since I can read most of the stories I see online at their site or elsewhere (feeds of WSJ online). But if one is not net savvy, the stories are new and different. However I expect that it’s only a matter of time before the stories also become subscriber only like the rest of Nation magazines

I have no loyalty to papers to buy, two on Sunday and either Nation or Standard on any other day depending on which is more appealing (preferably less party politics). Like many (cheap) Kenyans I buy one and get a free newspaper i.e. in exchange for buying a paper, the vendor allows me flip through the Nation or Standard (which are sold for 35/= or $0.50 on week days) before I decide which one to buy. The arrival of the business daily shakes up my vendor’s math – and he’s taking a few days to judge the demand /sort out his orders (he sells 50 Nation and 20 Standard) to motorists as he jogs round traffic jams. He doesn’t understand why the Business Daily was launched, and though he has sold out his few copies, he grumbles that it will reduce his sales of the Nation (which is twice the size but costs 30% less than the B.Daily)

Business without Politics?
Is there enough business news to put out a daily newspaper? Yes there is… we all say we are tired of the media obsessing with politics and politicians. But the Nation already has about half its papers with comprehensive business magazines (Tuesday, Thursday and Sunday- and the East African on Monday). The Standard has also has a business magazine on Monday & Tuesday, (stopped publishing an Executives magazine on Wednesday) as well as a focus on the transportation industry on Thursday. Also, the Kenya Times has comprehensive business writing each week day and it the only newspaper still has all its business stories online free.

Still, when you look at the papers the business daily is emulating – Financial Times, Wall Street Journal, or even the economist, they all have comprehensive political coverage because you can’t separate politics from the world economy. E.g. you can’t talk about Airbus problems and future without mentioning the interests/wishes of the French government and also understand what the presidential candidates in France have said and in the same way you can’t talk about the issues at KPLC, Kengen, and EAPC without understanding their status as parastatals that are influenced by the politics of government.

tweaking
Some things I’d like to see if asked
– More risk/breaking stories. NTV reporter Robert Nagila has spent a few months doing an expose on dubious procurement contract at a cement company that has been the lead story on NTV news at 9 p.m. several times. But the Daily Nation has not published these findings comprehensively (maybe fear of lawsuits) even as management of the company have paid for rebuttal statements to run in the Nation. The WSJ goal of having 80% exclusive content should be aimed for.
– Some signature writers – like the East African has regular columnists with interesting observation and opinions. who also writes for Nation, Standard has battery who normally write on politics.
– Give an MD a column each week to write about business, economy, investments etc. anything except their company or industry. This should not be an interview and encourage them to make it a personal piece, not a PR team effort
– Index of people names in addition that of companies on page 2.
– Cartoons like the Boondocks, crosswords, advertisements
– More contributor content; this is not easy to manage but newspapers should not wish away their readers contributions. Newspapers often make reference to reports or features and liberally borrow material that appears in blogs or “Kenyan websites” as a by the way without mentioning what they are. e.g. interest rate or stockbroker woe tales.

Future Outlook
The Business Daily, priced at 50 shillings should be a test balloon of the market. Nation executives have often stated that they wish to increase the price of the paper to offset increased production costs. That sometime in 2005/06 both nation and standard increased the price of their Saturday paper from 35 to 40 on the same day was not a coincidence.

By combining both the Business Daily (as Section B of the Daily Nation) they can go ahead and raise the price of daily paper to 50 or 55 shillings and still not lose readers to the competition.

News

Marshals: With no big pickup, SUV, or affordable small cars from Peugeot to sell, the company is cutting back – they have moved from their Sarit center showroom as well as marshals house site (used to be showroom, and workshop) on harambee avenue which has now been advertised for rent now its owner – the central bank staff pension fund who also have put up a new office block opp. Yaya center in Kilimani

Billionaire’s hotel: Flavio Briatore, the Renault F1 team boss will open a luxury beach resort in Malindi later this year.

Soccer dream alive: breathing a sigh of relief at the lifting of the FIFA ban on Kenya will be UAP Insurance and its policy holders who have invested in world cup savings plan – but who may had had a difficult time obtaining match tickets as FIFA would not have allocated Kenya a quota to sell.

Go zero: Safaricom has often been asked about why it hoards your 10 shillings (phone balance never went below 10 shillings) but they have now removed that floor and subscribers can now talk/SMS their way down to 1 shilling.

New airline Virgin Atlantic starts flights to Kenya on June 1 and the airline is seeking airline call center & ticketing agents, call center/ticketing supervisor, turnaround coordinators, area sales executives and airport duty managers to apply online for jobs by 18/3

Other Opportunities

Bidco: team leaders (finance & accounts) accountants (Jinja) , cost accountant head communications & PR, marketing officers, head(s) export sales & distribution, regional head(s) sales & distribution, territory sales supervisors, area – sales in charge, head – logistics, head – purchase, engineers, graduate trainee engineers, ICT systems analysts and others. Apply to careers1@bidco-oil.com by 19/3

Equity Bank: relationship managers, customer service representatives. Apply to jobs@ebsafrica.co.ke by 23/3

Emirates airlines cabin crew. Apply online by 1/4

Erastus & Co CPA: audit associates (2), auditor seniors (2) tax & service supervisor. Apply to erastus@nbnet.co.ke by 20/3

Regional sales representatives at Jamii. D/L is 20/3

Market research & planning manager at KCB. apply to Divisional director HR 48400-00100 by 19/3

Managing Director at Kenya Film Corporation apply through manpower & associates by 23 /3

Media Edge: client service executives, editor, and creative graphic designers. Apply to info@mediaedgeint.com by 14/3

Grants officer at save the children. apply to vacancies@scuk.or.ke by 21/3

Branch manager at Southern Credit bank. apply to hr@southerncredit.co.ke by 21/3

World Bank Somalia community driven recovery /& development t (CDR/CDD) project: civil engineering officer, monitoring & evaluation officer, and coordinator CDR/CDD project. Apply online by 21/3

Grants accountant at world vision south Sudan. apply to recruitsdn@wvi.org by 19/3

Scholarships: Chinese / Kenya government scholarships – undergraduate (12), post graduate (10) – full scholarships (inclusive of air travel).. D/L is 15/3 to the PS Ministry of Education

Media awards. Marekebisho awards from GJLOS – open only to journalists why? who work for media houses. Three awards each for print (local, regional or national newspaper) and electronic (local, national, regional TV/radio) journalists for work they publish between January 1 and May 31 2007. D/L is 31/5