Edwin H. Dande
@ehdande
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@CytonnInvest ...unlocking vast opportunities in Africa for our investors. + Fair, balanced and insightful analysis.
Nairobi, Kenya
Joined October 2014
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Pinned Tweet
- “The information required to make economic decisions is distributed among millions of individuals; no central authority can effectively collect and act on all of this information as efficiently as a free market.
- In a planned economy, a small group of people must make…
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Absurdity: So if I make an offer today to buyout China Square, it becomes locally owned. Then I employ same Lei Cheng alias Charlie as MD with profit share, and we continue doing exact thing, issue solved? The key issue seems nationality of actor, not the business model.
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As we kick out China Square, why not kick out Diageo so that we manufacture Kibao, Java and Artecaffe leave for Kenchic, Shell leaves for Nock, Goodlife goes back to Mimosa? The intention is good, but the method is wrong. Let’s enable Kenyans not fight foreigners.
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The fella can afford to talk like this because he now has choices and is searching for meaning… he has crossed from HustlerZone to EliteZone. I did 15 yrs in the US and now 13 yrs in Kenya…. US is HARD, but 1. there are opportunities for those will to work very hard, 2. you can…
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Talent and hard work can never go unnoticed. KPDA has noticed my tweets on real estate matters and wants to hire me as a communications intern.
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Random thoughts on KFC: Punguza pang’ang’a…go buy potatoes from your village, cook fries at home and leave KFC alone. Even if you boycott KFC, where will you go? …Kukitos, Java, Burger King?… all are in the same WhatsApp group, they serve foreign commercial interests first.
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Competence Matters…
I have checked the sites we manage… Amara, Alma, CySuites, all generators kicked in automatically. Competence Matters.
JKIA KPLC
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“You don’t solve the housing problem by building houses, you build basic infrastructure & people will build houses” Dr. Omenya.
I agree!
We have so many neighborhoods w/out sewer such as Ruaka, water, roads & elec. Let gava focus on those!! as we can’t do it for ourselves.
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I totally don’t understand why we keep repeating numbers that don’t add up. 200,000 houses per year times 1.5 m per house is kes. 300b per year. Best from Housing Tax is 60b per year. Where will the other 240 b per year come from? 1/2
President Ruto: Tutajenga nyumba 200,000 kila mwaka ndio tupate ajira ya vijana milioni moja kila mwaka
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The things
@USAmbKenya
Meg Whitman said are certainly TRUE, BUT also certainly UNWISE
1. She loses the ability to be a neutral broker in a tribally divided country. The debate in Kenya is really about tribal access to the national cake, that’s the issue.
2. She now has kikuyu…
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We tend to honor p'ple who never invented anything, started any company nor written anything worth reading. We celebrate conmen masquerading as entrepreneurs with medals & honorary doctorates. But again, the arc of history is very long, but it bends inevitably towards justice.
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Random Question: Let’s get govt out of KICC but get into Housing?
As an analyst, the KICC explanation seems to make sense. Government is not good at running businesses, so let’s privatize it.
What is not making sense, to me, is that the same government that says let me get…
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Dear Parliamentarians, there is nothing much these three musketeers can do for the shilling.
If you want to stabilize the shilling focus intensely on policies to bring in dollars:
1. Enact legislation to lay out the red carpet for TOURISTs to bring in dollars.
2. Enact…
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PS
@PSCharlesHinga
I know you mean well, but address our fears. 👇🏽this is the biggest fear. That the Housing Fund will grab public land on one hand, tax everyone 3% on the other hand, but houses end up with the connected few in the name of Hustlers.
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Only time will tell who made the best call.
Choking under massive debt, Zambia & Ghana decided to go the restructuring way, Kenya decided to ramp up taxes to pay up. Only time will tell who made the best call.
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Bwana PS, I am glad you have brought in Cytonn because it’s precisely the experience that informs the clear view that this is a bad idea.
1. Real estate is 10% of GDP. That’s like 1.2 trillion, yet there is not a single regulation for developers….
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Watching the brilliant Dr. David Gikungu on
@citizentvkenya
reminds me of the IRONY in communication…
Those who know a lot tend to talk little, and when they do they struggle to explain it… yet we NEED to hear from them.
Those who know little to nothing tend to talk a lot,…
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Random Saturday Read… Fellow Kenyans, please read.
If you thought the Affordable Housing Levy issues raised by the High Court (HC) with regard to the Finance Act were problematic, go read the draft Affordable Housing Bill.
At least the Finance Act was vague and opaque,…
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Gosh, What a headline?
THERE IS NO JUDGE BLOCKING RUTO’s TAXES, it is the law that is blocking Ruto’s taxes. The judiciary does not exist to block or unblock anyone or anything. Judges merely interpret the law.
Ruto blocked his own taxes by surrounding himself with some…
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If the media reports are true, the offer for 90M for a Villa at Amara is ridiculous & disturbing to me. It’s an insult because 90m is what they sold for in 2018 when they were at foundation. They are now complete & occupied, no one should be offering a Villa for less than 150m.
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@kipmurkomen
CS we mean well: here is a tip to solve this problem once and for all. If I were you, I’d learn how to switch off KPLC line to JKIA. Then once a week show up to JKIA at 2 am incognito and unannounced when there is no KPLC power issues. Then Switch off main KPLC supply line and…
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KOTs,
Wisdom finally prevailed at Amara Ridge. The CS has vacated the villa.
No more gunfights.
Next time any Mover or Shaker wants a Villa, just holla,
@CytonnInvest
will build you one. Don’t fight.
As I said, the next development will put Amara Ridge to shame, BOOK NOW!!!
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Anyone who wants to build lasting multi-generational wealth needs to study the Ndegwas and learn these 3 lessons:
1. Hire world class talent: They hire world class talent and let them run the show. Much better than others where gray haired old men want to stay on the drivers…
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Random
#AmaraRidge
Thought… build things worth fighting for :) We got an architect who used to work for the ruler of Dubai to do this for us. The next one we are working on will out Amara to shame.
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Random Conversation on the Judiciary and Affordable Housing - mjadala.
A. The blame is SQUARELY on government incompetence, we should NOT even bring in the judiciary. Blaming the judiciary is like blaming a policeman for arresting a suspect.
B. And by the way, the current…
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Random Thought… Doctors figured it out long time ago that having a manager, not necessarily a doctor, managing a hospital is a decisive competitive advantage. Most Kenyan lawyers still think having a lawyer run a law-firm is the only model. Open up your minds. 🤦🏽♂️
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By now I would have expected Azimio’s Ndii equivalent to have published their critique of the Finance Bill with specific comments, suggestions and alternatives?
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Fellows Kenyans, Never take our democratic spaces and gains for granted, guard them jealously!
As we hold debates for improve our Republic, never take for granted that we live in a country where reporters can sit around a table with the President, ask him anything, and leave us…
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In Singapore, the Central Provident Fund, CPF, which is like our NSSF, employee put 5% & employer 5%, and that is what they’d grow and use to put a down payment for a house. No need for another Housing Fund, let employees use their NSSF for house deposit?
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Dear
@SakajaJohnson
,
25 floors for core Nairobi addresses like Kilimani, Kileleshwa & Lavi is way TOO LOW. For several reasons:
1. Rapid urbanization from rural Kenya looking for opportunities. They need to be housed.
2. Nairobi as an attractive destination for other…
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Someone was asking me “how come this time around Greenpark Estate did not flood”?
It’s because we learned our lesson: following the past flooding incident, we built a flood protection wall with reinforced concrete, and ensured we have a full storm water drainage running through…
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Random Site Visit Thought… those who focus on building communities will be the winners in Kenya real estate.
Constructing an estate is hard, but what is harder is building a community and setting community standards.
Often some residents don’t like rules, some don’t want to…
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Been 10 yrs since Benson Conregi fabricated a “KPMG audit” that we stole kes. 1 bn. Total hogwash. Fought up to the Supreme Court to get audit released, but court says we ask for the report at trial, we shall. Truth shall come out however long it takes!
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Random Thought…
Moses Kuria is exactly the news Florence Bore needed.
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Waziri, lazima tuambiane ukweli.
1. Multiplying contributions 25x is not possible for any asset in Kenya.
2. Second, why not demonstrate it for the 1.8b already collected so that Kenyans can believe?
Which investor will invest in something whose return is unknown?
Did you know that 30,000 Kenyans have been contributing to the Housing Fund already. They have raised Ksh 1.8 Billion already. With gearing I can easily get investors to multiply this to Ksg 45 Billion of houses (25X). That's 18,000 houses at a cost of Ksh 2.5 Million. Each…
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The interview with President
@WilliamsRuto
yesterday left me even more convinced that the Housing Fund is a great idea, but very poorly structured & very dangerous to public funds. Was looking for answers but left with too many questions.
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Debt service to revenue ratio getting better.
The tax to pay debt KK strategy seems to be working so far… data is data.
1. Debt service to revenue ratio is down
2. Weekly tbill yields are stable
3. Eurobond yields have compressed
4. Inflation is stable
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Random lessons for me:
1. Speak truth to power… firmly but politely
2. Use imagery to bring life to your point… “where is your daughter here?”
3. No losing hope, change will come… YOU are the one you have been waiting for!
4. Words cut deeply… Barorot and Mandago had…
Sometime in this country we feel hopeless but the courage of Gen Z gives us hope.
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1/2: I wish Baba na Martha could explain to us, in very simple language, exactly how the victory was stolen, so that we can walk along with them. We desperately want to come along, but we need to get to a point where we understand, own and can sell the message.
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Random Thought...
In
#Kenya
few large cap stocks, namely Safaricom, Equity Bank, KCB and East African Breweries make up almost 75.0% of the market, why would anyone need to pay a fund manager to pick stocks for them? Just buy the four and you are home and dry.
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Roughly speaking, we are collecting 2 trillion - 1 trillion goes to debt servicing and the other 1 trillion to salaries. Then for everything else we have to borrow at 14 to 18%.
To fix this, our solution is tax more?
No one is talking about CUT SPENDING or IMPROVE BUSINESS…
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Agree with Kwame… the economics and funding model are wrong.
Kwame Owino to PS Hinga: I respect the professionalism within government, but I have to tell you that you’ve got the economics and funding model wrong
#TheBigConversation
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This
@citizentvkenya
news clip was painful to watch… Senators asking a private company, EABL, why it’s selling its assets and / or it’s shares? Surely, it’s none of our business as EABL is private property protected by constitutional right to property. It’s not a parastatal.…
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People don’t like the truth, but it needs to be told. Ndii yesterday told Kenyans the bitter truth. After a decade of debt, we have to restructure something: your salaries, your jobs or paper holdings, you pick.
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Lei Chang just needs an investment banker to structure for him: he sells to a Kenyan 100% of the business, then becomes a consultant for China Square whose fees just happens to be 90% of profits. His clients will stick with him and now he has a legally bullet proof structure.
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Whoever was in charge of this propaganda delivery… you know yourself; you have failed, miserably. When you look at the mirror tonight tell yourself, “I am joke.”
Anyone with a half a brain can look at the “protesters” and see something is off.
1. They have no energy at all……
Nairobi slum dwellers, community-based organisations, residents hold peaceful protest in Nairobi CBD in support of Housing Levy
Video by: James Wanzala
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@Waweru_Mugo_
@USAmbKenya
@realDonaldTrump
@Terriz_Sam
@SamsonOgola
@OleItumbi
@BiancaNaom1
@4thPresidentKE
@RailaOdinga
is merely a staging platform of grievances that his followers have. To dismiss them as a one man grievance is shallow.
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Take the 434 bn that Uhuru borrowed last yr same time, adjust for 9% inflation & you get 473 bn, which is higher than the 452 bn that
@WilliamsRuto
has borrowed. The numbers are devoid of basic analysis which ends up with a radically misleading headline.
#DataFactsAndLaw
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Waziri Florence Bore,
The devil is in the details… since you have released a statement to the public, can you share the said sale agreement we read?
Thereafter we as KOTs shall render a judgement as to who is culpable.
Particularly interested in the clause on handover.
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Being the tallest of the dwarfs not an achievement….
While we should count our blessings, we should not be comparing with or aspiring anything to do with fellow third-worlders like Cameroon. It’s like saying I am the tallest of the dwarfs. Kenyans are sharp and hardworking……
This Uber driver from Cameroon spent the whole ride telling me how lucky we are to be Kenyan.
Many Africans really admire KE when they compare it to their own countries. He ticked off a lot of things that Cameroon doesn’t have (like safety, electricity, water)!
He heaped so…
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@WehliyeMohamed
And there are many more coming up. The “Wah!” assumes that the developments were for sale? My view is that the developments are driven by cash looking for an enduring home. It’s not a mkt phenomenon
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I am happy to report Amara Ridge is very peaceful today. Just hosting people interested in the development.
Amara means immortal.
Happy Monday!
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“Don’t educate my stupid education policy holders”
I would highly recommend this Education Policy session for anyone holding an education policy…
Most insurance based education policies are probably the biggest regulated scam in the country today, fueled by consumer financial…
Remember to join us tonight at 8pm as we discuss Education policies and the solutions that exist for saving for education.
Set your reminders in the link below👇
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Nairobi CBD is not a reflection of leadership failure, it’s a reflection of citizenship failure… we get the leaders we deserve.
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1/5
Random Question… is the President’s 250,000 affordable houses per year achievable? …that’s about 700 houses per day! I doubt, but again this is the era of “ni Mungu tu”, so miracles may just happen…
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How can KCB pay out a 0% 2023 dividend ??? 💔💔
- Stanchart paid out 80% of earnings.
- Stanbic paid out 50% of earnings.
- ABSA paid out 50% of earnings.
The 0% dividend payout ratio is a signal that something is terribly off at KCB. Investors ought to interrogate the…
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@RasnaWarah
hehe, allow me to digress... "this woman does not look like a billionaire", kwani how do billionaires look like?
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Hilarious. Not only did Muluka resay what Sifuna said, he went ahead to elaborate some very crucial points that, in his view, Sifuna should also have said. A very strange but effective method of coward writing.
Barack Muluka wanted to lecture Ruto on Gov't incompetence but chose to hide behind Edwin Sifuna, because he's afraid State House might call to ask him some unsettling questions. Even UDA cowards have started losing their fear, and we will be there no matter what.
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Listened to some of the CS commentary on
@citizentvkenya
last night, it was underwhelming…
It seems the President has to either live with incompetence from loyalists or restructure?
How can you tell Kenyans the cost of living is cheaper than US, without considering purchasing…
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A good read on entrepreneurship…
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1. I confirm Alice is NOT the one
2.
@WahomeHon
talk to me if you looking for a hse, I am the builder in chief for the cabinet
3. Amara is full, they are fighting 4 the one being resold, but I have this new one coming up for 175m each, call if interested:
Look for someone else. I m not the one . I m not looking for a house to live in.
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KK administration has very compelling ideas… Visa free entry, Affordable Housing, Hustler Fund, Mama Pima… but the model and execution is usually chaotic. Why?
Kenya’s eTA is actually worse than the previous eVisa system
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My guess is that the problem was related to something Africans really hate… a daily checklist. Just ticking everyday and signing off that things are working… fuel is full, batter is working, oil is there, service was done. Most of the times, the person in-charge of the…
I am really sorry for what has happened at JKIA with the blackout. There is no excuse worth reporting and there is no reason why our airport is in darkness. I will be announcing the decision we will make tomorrow 9am at JKIA after a meeting with the leadership of the airport.…
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Daktari
@DavidNdii
a couple of points…
1. I am not being alarmist, the figures are self alarming to any right thinking man. Yes SGR is paid twice a year, January and July. When it was paid in 👇🏽July last year, the debt to revenue ratio was 63%, what is so special about this…
1. It’s not 1st time. I’d expect seasoned investment advisor to know that the big foreign debts eg SGR are paid twice a year, Jan and July. 2. Gross figures inclusive of domestic redemptions don’t tell you much about debt service burden. You are either ignorant or alarmist
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So what’s the big deal about Twiga Foods laying off? The news would be if Twiga Foods was hiring. Layoffs are coming in this environment:
Times are tough:
1. shilling depreciates every week without fail
2. taxation left, right and centre
3. government borrowing at 18% has…
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Took a walk into Greenpark Terminal, they should turn it into market stalls for traders… I think the bus terminal social engineering has failed.
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Why are people fighting about
#AmaraRidge
by
@CytonnInvest
? Just talk to us we build for you guys another one! No need to fight.
Karen palatial home battle:
CS, MP fight over high-end multimillion house in Karen
MP claims the CS forcibly gained access to his property
#CitizenWeekend
@VickyRubadiri
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If the issue is that cheap Chinese imports undermine Kenyan manufacturing, then it should not matter who is doing it, Nyamakima or China Square, we should deter both. What is the issue?
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@JimmyGSeamus
@JimmyGSeamus
yes in “the end” it’s all vanity, but there is a long road between HERE and “the end”, and these things matter, a lot, before we reach that end.
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We critique because we love our country and want government to succeed.
The President should really consider dumping the opaque and incompetent affordable housing program while still ahead.
Just like the G2G oil deal that was to bring the shilling to 120, just like mama Pima…
Really surprised that someone misguided the President that delaying a payment of oil by 6 mons can affect forex rate, it cant. Only change in supply or demand of oil can. Even if delayed by 6 mons, the buyer has to start accumulating their dollars today.
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If the Housing Tax succeeds and not a penny stolen, 5b per month x 12 months = kes. 60b divide by kes. 1.5 m per house, we shall have 40k houses at best. Where is the 200k houses coming from? Have we become a nation that does not even care about reality? 2/2.
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Education policy / insurance is the biggest regulated fraud in Kenya today… invented & protected by the status quo champions, aka dynasties.
I once tried to enlighten some policy holders that buying term life insurance plus a money market fund is a lot better than an education…
I was telling some people instead of taking an insurance education policy just buy GoK treasury bonds with 10,15,20 years maturity dates depending on when your kid will go to high school or university. You'll get interest biannually and your money is there upon maturity.
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Housing Fund a great case study on importance of nailing your Messaging & Communication b4 product launch
1. Started as "we want to build you Houses"
2. Quickly evolved to "we want to create jobs"
3. Now at "we want the salaried class to contribute for Hustler jobs & houses
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Random Observations on General Francis Ogolla service…
THEFT: He did not fall into the rampant and celebrated national vice of seeing PUBLIC SERVICE as a calling to CORRUPTION, PLUNDER and THEFT OF PUBLIC RESOURCES. His lifestyle seems to match what you…
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I have now read… it’s lethal. You will be lucky to get back 30% of contribution. Everyone is focussed on section 31B(1), the 3% deduction. The real killer is 31B(3). The return! In simple English you will get balance after fund expenses & losses. Using Youth Fund as an example…
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@CarolRadull
not just politicians but all of us really. INEOS is just a company like say Safaricom or KCB, we had to wait for a foreign company to create a global event out of a Kenyan runner? It could have been Kenya159, we need to start thinking big!
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Random Thought… yield performance of Kenya’s Eurobond this week is simply heroic.
In a week when Ethiopia walked into a default, I’d have expected Kenya yields to expand, but yields compressed across ALL of Kenya’s Eurobonds, with the much discussed 2024 maturity compressing…
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We are still in the first quarter and the Kenyan stock market, NASI, is already down 20%, whats going on? Watu wa "The Economy has Stabilized", what indicators are they looking at?
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For those who keep referring to Kibaki as a good president, 👇🏽see below. The problem with Kenyans? Africans? is that we like to lie. Kibaki squandered a golden opportunity for a new beginning…
1. Inequity grew, 2. he stole elections, 3. butchered thousands in PEV, and stoked…
I’ve seen it asserted that Kibaki turned round economy in months. I was there. We did not. It took 3 years but greed and ethnic chauvinism burned it up. The political and economic turbulence that continues to stalk us is consequence of Kibaki squandering opportunity.
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If my Christmas was anything to go by, these 98 firms are finished!
I pity these 98 firms in insolvency. Just like ALL the hundreds of firms who have attempted a turnaround during the 10 year existence of the Insolvency Act, their fate is sealed – they will ALL be closed down,…
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Government is now paying 17% for 5 yr money.
That means for private sector, assuming 2 to 3% risk premium, you have to pay 20%.
Rates are climbing every week, the economy is worsening, shilling depreciates weekly, …at some point something will give in.
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In July 100% tax collection went into debt servicing…
Found it hard to believe that every single penny of taxes collected in July went into debt servicing? We collected kes. 160b and paid 161 b to debt servicing.
That means majority of other expenses and debt were financed…
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Good Riddance. Kwenda kabisa! Thank you President
@WilliamsRuto
for sending the entire board of CMA home. It’s now an opportunity to change it from Cartels Market Authority, to Capital Markets Authority.
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75 floors, 👏🏽👏🏽👏🏽. Go for it, we can’t stop demographics. That’s what Nairobi needs. And I hope Kilimani is included in the 75 floors zone.
Don’t be bullied by those handful Kilimani stuffy elites who think everyone else should stay in Eastlands; they speak for no one other…
@ehdande
25 floors was area specific (around airbase) and not a blanket restriction. We have proposed an area specific zoning framework that goes up to 75 floors in some areas. It is before the assembly. We also have substantial resources being deployed in sewer and water infrastructure…
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Fellow Kenyans… either pay up or default.
We sat around for a decade doing nothing as our tribally elected leaders borrowed & wasted money. Time to pay. Govt has nowhere to get money other than to tax us. Other than Housing Slush Fund, rest of taxes we need to pay or default
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I prefer
@DavidNdii
’s style of engaging public directly; allows us to evaluate merits & demerits of the govt initiatives. He helps us understand a lot, like salary delays, but also leaves a lot unexplained, like sustainability of the Hustler Fund.
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And with these kinds of headlines… Kemsa audacity to steal from foreign Global Fund. Sugar scandals. And we still want to ask Kenyans to contribute to a new local Housing Fund? Guys there is no trust, rebuild trust before you bring new ideas.
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@KusienyaKelvin
Yes Daktari but in the US there is enough room for most and class mobility is easier.
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We like to quote Singapore, see how they dealt with hawkers…
“For years we could not clean up the city by removing these illegal hawkers… ONLY AFTER we created many jobs were we able to enforce the law and reclaim the streets… moved them to hawker centers WITH piped water,…
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Been saying default & restructure. We are burdening the bottom of the pyramid for the sake of keeping Chinese lenders happy. Subsidies crapped, taxes raised, NSSF up 6%, inflation @ 9%. Hustlers have probably seen about 30% of food taxed / inflationed off the table. Restructure.
Is public finance that difficult? Its reported every other day debt service is consuming 60%+ of revenue. Liquidity crunches come with territory. When maturities bunch up, or revenue falls short, or markets shift, something has to give. Salaries or default? Take your pick.
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Random Thoughts…
1. Rather bizarre about a Chief Agent writing abt why his candidate lost? It’s like a lawyer writing abt why his client lost a case.
2. But Azimio must have been very disorganized, yaani Kanchory was appointed Chief Agent without signing an NDA??!
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Real estate is a hard talent business, not a balance sheet business like insurance & banking. Chase away talent, you are left with a massive land portfolio you can’t manage, then you will have to eat write offs. It’s that basic.
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Fellow Kenyans… if we didn’t do due diligence then problem facing us is in the mirror.
We have a lot of complaints lately…
1. El nino is flooding our roads, homes and even drowning us.
2. Cost of living is too high.
3. The President is traveling a lot.
4. Taxes are too…
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Government is now paying 18.5 to 19% for 3 to 5 yr money. Why would anyone do business really? …you do If your gross margins are at about 40%, so that half go to costs and the balance 20% is competitive to investing in govt paper, otherwise better to stay stagnant with no growth…
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@bevalynekwambo3
@ItsMutai
Just oversupply of commercial office in upperhill, it’s the most oversupplied commercial office in this country. Most of those offices were built by monied egos without any market research.
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This is a non issue… the US is a superpower with so many third world countries falling over themselves to host their bases. 99% of the world can’t even locate Niger on the map. It’s a non issue geopolitically speaking. No one cares.
BREAKING OVERNIGHT: Niger military junta kicks out U.S. forces "with immediate effect" from the country and condemns America's "condescending attitude combined with the threat of reprisals"
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Random Rant…
The amount of time
@citizentvkenya
is dedicating to gambling advertising seems to be increasing…
And it’s inserted right in the middle of news and presented as if it’s news.
I bet that many hustlers are falling for it as if it’s news rather than advertising.…
Shabiki Midweek winner:
Jacob Simwa is the latest Shabiki Midweek Jackpot bonus winner. Simwa earned ksh.208,000 after correctly predicting 11 matches
#CitizenWeekend
@VickyRubadiri
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The direction of key Kenya economic metrics are not making sense. WHO CAN EXPLAIN?
Interest Rates are going up, despite inflation going down…. You’d expect rates to come down as inflation comes down.
And despite rates going up consistently, the Kenya shilling is depreciating…
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No one wakes up thinking about your challenges, not even your pastor. Your challenges are your own. Confront them. Good morning!
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Hot air! Who will trust currencies whose leaders can wake up and literally do anything. Currencies backed by free people & free markets will rule the world until kingdom come. (Imagine receiving your per diem in rubbles or yuan?)
🇷🇺 Russia to use Chinese yuan instead of US dollars to settle trade with Asia, Africa, and Latin America.
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People like
@Mohamedida
like to view the Kibaki presidency with rose tinted glasses. Yes he did some good, but a lot more enduring harm.
1. Inequality grew during his reign. The rich got richer and the poor got poorer. 👇🏽See chart.
2. It’s generally accepted that he stole the…
Moi was a bad President but a good ex-President.
Kibaki was a good President & a good ex-President.
Uhuru was a bad President & a bad ex-president.
An ex-President publicly foul-mouthing an other President demeans himself & the office he once served.
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