finally the official opening day for the purchase of safaricom shares has arrived. its a great day and the insert in the dailies has captured it very appropriately.
'We are oppening our doors to new owners ... YOU'
of course safaricom has always been good at adverts. very appropriate, emotional and captivating. indeed now the time has come for every kenyan to own a piece of the most profitable and respected firm in east and central africa. and may be soon in africa. Safaricom is a great going concern, and the profits have been good. And i have been encouraging everyone to take a piece of this pearl.
The only fear is that the shares on offer are too many and they may be an overwhelming supply once they start trading since the retail investors have just about 3.5 billion shares at their disposal. that translates to 17.5 billion shillings. i hope it wont be too much.
however sadly some quarters are still arguing about the owners of mobitelea who own part of vodafon kenya. for me i find this to be an argument whose strength is the same same as that of the shadow of a cockrel who had been starved to death. (or something like that to copy my friend argwings kodhek) its a real lame argument really. since in the first place these guys arent asking the owners of vodafone kenya or even vodafone UK. and again, am aware that its the Govt or Kenya that is selling their shareholding in safaricom and not mobitelea or vodafone Kenya. so its really a non issue to me. Further, am focused on the prize, i cant wait for the situation to be perfect before i plunge. the world belongs to risk takers and not people who are puritan!
the sad part is that ODM may have convinced most of their supports to avoid the IPO. what will happen is that one year down the line, safaricom will be majority owned by investors from PNU region (here read as Kikuyu) and these same guys will come out and say that Kikuyus own everything. just the same way they sold their farms to those investors only to turn years later and cry foul ( ok in some cases coz we also know of unfair allocation of land to some guys from central)
But seriously, this year is a year of great decision making. its upon you as an individual to decide. Does the argument put forward by Ruto, Nyongo and the like convince you? are you going to stop buying this share from GOK just because you dont know who the other owners are? and when you normally buy shares at the NSE, do you normally insist on knowing the others million shareholders before placing a bid?