Wednesday, November 01, 2006

Spoiling for a Fight

fresh from annoucing jaw droping profits hitherto unheard of in the EA and C region, safaricom is rearing to go at the banks market by introducing at a large scale money transfer. Money trasfer in kenya is probably one of the most lucrative virgin markets in kenya today. during a conference on cooperatives we were made to understand that the matatus that ply nairobi - nakuru route in most cases ferry money. people and even drivesrs are ready to risk ferrying at times as much as 500,000 in this way. in fact even at Akamba bus, Easy coach etc, most of the percels are actually money disguised. after EMS speedpost and telegraphic money orders from posta collapsed, there was no other safe and fast way to send or recieve money. by introducing this service , safaricom will be transforming itslef into a mini bank with pple having mini accounts at the dealers.

Be that as it may, following the success of both Naikuni and Adan, Mr. Etemesi has been appointed the CEO os stanchart a hopelessly foreign bank. am told even decisions to upgrade PC software have to come from abroad! lets hope that with the localisation of the kenyan leadership, those employees will be able to apply their brains now and not be merely robots.

and before the rain stops, sameer shall probably have traded another 10 million shares at an improved price of probably 25 bob. What is going on! how come there is very little disclosure on listed firms in Kenya. would the intended cross listing cause it this much exitment really? the tyre manufacuter has gained more than 50% in the last one week.

odegle tip of the day -- strategise , strategise, strategise and stick to the strategy even when ICDCI is tripling its share price in a single day!

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