in the early days of african 'liberation' we had many cases of abuse of power, tribalism , despotism and all the negative isms that one could think of. in fact even though we were supposed to be celebrating, africans were mostly wallowing in untold suffering , torture, harrassment etc. all these vices were financed heavily by both the capitalists led by america and her alies and also the communists led by russia. actually the history is very well known. the OAU meetings became a fashion show of sorts as african heads turned themselves into demi gods. they had unlimited access to 'foreign aid' from all sorts of corners. the money came in forms of road support, hospitals , schools etc. all that lasted as long as the cold war and when it stopped the aid became a loan and africa became the most indebted continent in terms of gdp/debt ratio. the west started chasing their hitherto proteges for repayments, economic disciplines and what they called democracy. well we all know the history.
fast forward, china becomes a superpower in spite of the lack of 'democrasy' and now with all her population strength and all the money. they are turning a blind eye to anything negative and are only forcusing on what they will get. african heads have been meeting the leadership of china and many of them came with lots of goodies or promises of them. china is even supporting nations like zimbabwe and sudan! all they want are what remains of africa, and our tribaly elected leaders with little negotiation skills are swallowing hook line and sinker. they will soon die or retire and leave younger leaders with the burden.
If you ask me china is not a very good trade partner, they produce too much and that means that you cannot sell to them. their products have caused even industries in SA and USA to close since they are quite cheap. secondly these guys are many and many of them will want to settle in africa and fight with us for the meagre resources as well. right now the west does not care much about africa since they have other problems with the terorists, read oil lords.
Is there any information yet on Mumias? i was expecting something this week if the november date is to be kept.
Sameer will not relent even though i keeping going at them on an on. i guess they are just ignoring me. other rumours suggest that a south african is eyeying the pie. and sasini aparently is making 10 times more than it used to do before branding. good stuff. its interesting that most strong funds avoid these smaller counters and concentrate on time tested big rollers like the bamburi, the BAT and EABL of these world. if you are a long timer, then those are your best bet. in fact in the high circles BAT is rated best in terms of management, leadership and the like. by peers.
yet BAT remains at 190 for heaven knows how long! its guys like city trust who can jump a massive 400% for annoucing a dividend!
odegle tip of the day -- even bears make money but if you want all you lose all. pigs dont make any.
Odegle - unfortunately, not many have your insight. Furthermore, our "leaders" are short-sighted & will sell us down the river to ensure their survival.
ReplyDeleteSameer Africa - Crazy prices but do I say?
When this bubble bursts, we will see reality sink in. BTW, Sameer Africa has finally reached the price the IPO was at many many years ago!