Friday, October 19, 2007

Siasa na NSE

the good station was at it again. this time, KTN chose two sober minded debaters. or may it was the debaters who chose to be sober minded focused and issue driven. as opposed to the discussion on majimbo which was replete with innuendos and confusion, the debate on NSE and politics was carried very maturely by Billow Kerrow and Jimnah Mbaruh. Mbaruh agreed with Kerrow and even Raila on several aspects of the market. he even agreed that the control of the NSE was concentrated in the hands of a few. he agreed about market cycles and so on. Kerrow gave a very detailed analysis of the factors that can and have influenced markets the world over and NSE included. it was quite refreshing. Jimnah assured us that the market will improve next year come rain or high water. it was there before independence and survived the two dictatorial leaderships. in fact he indicated that confidence levels were going higher up. On the declining index, he said the impending safaricom IPO was a more likely culprit than anything else. investors have just been positioning themselves for the biggest and most emotive IPO in our history. emotive because safaricom is close to many peoples heart. another reason why it should be delayed and held only after elections as suggested by the CEO Michael Joseph.

and in another city, ODM-K was finalizing their game plan. the second miracle. probably to team up with Kibaki and revenge on the pentagon who denied him presidency. does that surprise anyone? Hardly. During the debate on majimbo, Mutula showed that as much.

So Mr. Raila has 4 vendetas ganging against him. one Simeon Nyachae who has never forgiven him for hoodwinking him (Nyachae) to attend the rally where Kibaki was declared tosha, Moi; for all the problems in his (Moi's) life, Uhuru for deserting him at his hour of need and finally Kalonzo, the chosen one who believed that the presidency was his birthright only for the pentagons to declare interest and make it clear to him that he would lose ODM nomination. but this cloud has a very bright silver lining for the Raila team. with kalonzo out of the race, the threat of voters getting confused about the two oranges will melt like ice and further more kalonzo's joining of PNU will only increase the confusion and jostling already existing in that side.

Don't you just like how Ruto gives practical examples in his campaigns. in fact instead of sending Nyongo for the majimbo debate. Ruto should have been sent. Nyongo was very theoretical and academic. but Ruto simply says: hakuna haja kuenda kutafuta kazi Nairobi pekee yake. hakuna haja kuenda referral hospital Nairobi pekee, etc. by the way did you know that most national schools are only found in nairobi province and its close environs?


  1. i read your blog a lot.

    Depending on which side of the political divide you are on, you'll prefer CITIZEN/KBC TV or KTN for your news or NATION or STANDARD for your dailies...Please keep this blog neutral.

  2. @webjinx, i don't allow politics to decide which channel i watch. i let the programs decide. for instance, when it comes to local content of which am an ardent fun, i turn to citizen any day. for any sort of analysis be it business, siasa, environment, health and research, i find KTN way above the rest. my news channel of choice is NTV. i like the layout. i never read the standard since i feel they only sell the headline. beyond the cover page, i never get anything of value inside. nation still does it for me as far as dailies are concerned.

    if thats not being neutral then i hope its human!

    Otherwise i feel humbled by your readership and welcome you heartily

  3. i meant the ODM, PNU kinda of neutrality.

  4. ooooh! ok. makes sense. i thought i haven't shown any bias on the personalities. but i have a strong bias on certain things that i hold dear like economic growth, investment opportunities, equity, resource allocation etc. but bottom line am not good when it comes to politics.

  5. Odegle, first you reserve the right to your opinion, political or otherwise. This is your blog definitely.

    Second, I watched the same sober debate and I can't fail to notice your leanings. Mbaru did most of the talking and the debate 'agreements' were both ways.

    Some jewels to your 'neutral' and business-minded readership would have been in order:
    i)that NSE will demutualize next year to a public limited company. This will change it from a members club to an independent plc that may even do a public listing
    (ii)that registration of brokers will be opened up to a situation like Nigeria/SA with over 100
    (iii)in the next few weeks, there will some huge foreign investments coming into the market, Mbaru said. A hint to investors to make hay while the sun shines
    (iv)both agreed that NSE is a barometer of economic performance, though not perfect, it is the better mechanism Kenya has so far. Politicians should therefore try their best to gauge what they say about the market
    (v)Kenyans will be given a wholesome opportunity to take as much of Safaricom as they can. In fact the challenge is trying to ensure that the financial market does not become unstable as all that money is hoarded by the govt, pple selling shares, taking loans, selling other assets to get Safaricom. It will take a while before the govt gets back the money intothe economy.
    (vi) The Safaricom IPO is mainly to finance a budget deficit. That's a poor strategy to me, it should have been used to further develop telecomms. It is also the first in a queue of waiting listings. As lame as the excuse, it is very indicative to businessmen.
    (vii)The impediments to achieving more listings at NSE a response to Raila's qns, though not exhaustively covered
    (viii)The weaknesses of CMA in supervising the market whose Raila & Billow responses were giving it more powers, adding staff salaries and employing more competent personnel
    (ix) The issues of insider trading, unanswered queries about Uchumi, Francis Thuo and money laundering

    But as I said, it is your blog and we are worth the entertainment, keep it up.

  6. @sal, i must say i feel intimidated by your good memory unless you are a journalist or recorded the show! in short i was happy with the debate of yesterday. it doesn't matter who said what but you agree with me both men aimed at giving the best information to the public. where i was sitting i did not see or hear any argument that was influenced by any leanings whatsoever. i wish all debates would be this sober and focused

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