Bankshares

Top public bank/financial institution gainers in the first half of the year based on changes in share price from January to June, but leaving out 2005 dividend declared and paid.

So buy bank shares, instead of leaving money in the bank earning 2%!

Housing Finance 98.92%
National Bank of Kenya 64.35%
Diamond Trust 61.24%
Jubilee Insurance 50.60%
Kenya Commercial Bank 46.02%
NIC Bank 39.22%
I.C.D.C Investments 37.24%
Standard Chartered 7.91%
Pan Africa Insurance 7.50%
Barclays Bank 2.66%
C.F.C -10.00%

Previously
At the end of 2005
Pan Africa Insurance 91.43%
Kenya Commercial 77.27%
Housing Finance 59.20%
National Bank of Kenya 52.41%
Jubilee Insurance 46.12%
Barclays 38.50%
CFC 29.03%
ICDCI 25.83%
Standard Chartered 17.62%
Diamond Trust 12.11%
NIC 6.00%

Alternative NSE

The Nation’s Smart Company magazine looks at the alternative investment market segment of the Nairobi Stock Exchange (NSE) today which includes these companies: A. Baumann, City Trust, Eaagads, Express, Williamson Tea, Kapchorua Tea, Kenya Orchards, Limuru Tea, and the Standard (newspapers) Group.

As the Nation notes only two shares are actively traded – almost on a daily basis; One is Express (I own a few shares) which is a company that has undergone some restructuring and is, I believe, in the right place at the right time with some good growth potential.

The other is the Standard Group which is in a restructuring phase, and though it trails the Nation Media Group in most segments (except television), has some upside predicted for it given its’ daring political coverage and the upcoming election year which is always good for the newspaper industry.

Recent stable changes
In: (soon) Scangroup
Out: Sameer

Uchumi, KBS, Madaraka

Uchumi
Uchumi stores will re-open this week. No word yet on the fate of shareholders and if it will be re-listed soon on the NSE. I still don’t think they will be able compete with Nakumatt & other supermarkets, or recover their lost ground, but I hope I’m wrong.

KBS
Official confirmation that KBS buses are not running, but the company plans to resume as a new company and a new fleet by the end of the month.

Madaraka
Monday (July 10) marks the deadline for residents of Madaraka Estate to have submitted applications, along with a 10% deposit, to buy the houses they live in.

Economics not Politics

It must be said that the current government is looking good to farmers in several rural communities.

While us urbanites are concerned with issues like corruption, governance, broadband, media freedom, mercenaries etc., farmers just want to earn a decent living from their hard work – and this government has made several right moves.

One of these was to revive the Kenya Meat Commission and another was during the recent drought when government agencies were out buying livestock to minimise farmer’s losses.

For dairy farmers, the turnaround has been very dramatic. Where a few years ago milk was selling at 7 shillings per litre, farmers were pouring milk by the roadside as the industry had very low capacity and could only process a limited amount of milk. Now milk commands 17 or 18 shillings per litre and there are many companies buying milk, and paying farmers on time, including a revamped KCC that is now able to process and distribute milk nationwide after many years in obscurity.

If the government can sort out the greed in the sugar and coffee sectors and fix the country’s infrastructure (roads and railways) it will have connected with people’s stomachs which, in a way, matters much more than their minds.

Throw in other goodies like free primary education, Kengen & other IPOs, and the constituency development funds (CDF) and things look quite good. With the electorate wiser than ever, the 2007 elections will be harsher on MP’s, than on the government, and we are likely to see several dozen new faces in parliament in 2008.

Any MP who misuses the CDF will bear the brunt of voters as only a foolish or crooked MP can fail to make an impact with direct funds from the government at his/her disposal.

Even though there is still an unhealthy obsession with becoming an MP, and crowds of recycled/rejected politicians jumping parties to be in the right place, there are many new faces willing to taking the plunge into politics to make a positive difference.

The problem is that the government has such a poor image and even worse sales people – that even this simple message does not translate via the media. Also the message of economic prosperity is difficult to push through since cash handouts at election time are a necessary evil and the only way that old politicians perceive as a way to sway gullible voters. This is an expensive, misguided habit and old habits from old politicians die hard.

E.g.
One senior official has just upgraded to the latest S-class barely month after the Finance Minister announced a cutback in government expenditure on limousines.

papa’s got a brand new bag

Friday Jobs

Most of these appear in Friday daily papers

Akamba
– 50 bus drivers at Akamba public road services, apply at company.
– Also Chief financial officer/head of finance. Apply to mushtaqk@akambabus.com July 21.

EABL
– Manager, group audit & risk. Apply to Hr.customercare@eabl.com by 21 July.
– Group FP&R analyst. Apply to hrrecruitment@eabl.com by July 21

DFID
Human development advisor (Somalia). Get details from dfid@adetsystems.co.ke and apply to
recruit@adeptsystemes.co.ke by 19 July.

Flower logistics manager at Homegrown. Apply to Hrd.NboHQ@f-h.biz by July 14.

Housing Finance Company of Kenya
– finance manager
– Risk & compliance manager
Apply to human.resources@housing.co.ke by 14 July.

securities market technical specialists (2) at the International Finance Corporation to be based in Nairobi or Johannesburg. Details at www.ifc.org/careers/ and deadline is 23 July.

JKUAT
– Deputy VC research production and extension
-chief internal auditor
– IT manager
Deadline is 25 July.

Kenya Airways
– Manager technical projects
– Sales executives
– Ab initio pilot trainees
– Cabin technicians
– Internal auditor
– Sales & ticketing agent and othe jobs.
Apply to the group human resource director P O Box 19002 Nairobi by 21 July.

Principal Officer forensic investigations at the Kenya Anti Corruption Commission. D/L is 21 July.

Kenya Bureau of Standards
– ICT manager
– Head of operations
– Head of business development
– Head of staff welfare
– Head of personnel, head of internal audit.
Apply to the MD by July 25.

Lecturers, librarians and administrative positions at the Kenya Methodist University. Apply by July 21.

Marketing manager at Magadi Soda. Apply to recruit@magadisoda.co.ke by 21 July.

Mobile Planet
– Business development manager – premium services
– Chief technical officer
jobs@mobileplanet.co.ke by 31 July.

National Environmental Management Authority
– Director finance & administration
– Director legal services
– Chief accountant
D/L is August 7.

software developers (5) positions at Optenet.com which is opening a new office in Nairobi. Apply through Strathmore University at recruit@strathmore.edu by July 19.

Graduate engineers at Safaricom. Applicants who attained 1st class honours or 2nd class upper div in 2005/06 should apply to technologygraduateprogram@safaricom.co.ke

Learning & development manager at Tetrapak. Apply to Recruit.ke@tetrapak.com by August 1.

at an unnamed IT company
– IT manager
– Project managers/business consultants (2)
– Financial accountant
Apply to kenyait@yahoo.com by 14 July.

Other IT opportunities

GJLOS
– Network cabling of AG chambers and provide computer servers. D/L is 10 August.
– Supply and install forensic software and hardware for KACC. D/L is 16 august.

KCB
– Computer servers
– Emergency PA system at Kencom house
DL is July 24.
– Implement wide area network
– Implement enterprise network system
D/L is August 4.