TOWN HALL MEETING - NAIROBI KENYA, HILLARY RODHAM CLINTON
She choose not to give a speech maybe fully aware that she may be no match to Sen. Barrack ( Baraka) Obama who in 2006 standing on the awed platform of Taifa Hall delivered a much more poignant and telling speech. She choose to enagage the audience through an unscripted discussion arising from audience questions. She did a superb job and her prowess of world affairs was evident. From Kenya's 2% forest cover, Kenya's 10 Million facing starvation, to Alshabaab, to Eritrea, to Congo to Nigeria, India and wherever. Her Identification of police, judiciary and election reforms revealed a leader who is up to her job - as America's ambassador in- chief.
What continues to suprise me is how our own leaders are not able to face us, to explain, to repsond question by question to the concerns of wananchi. They come armed with long boring and essentially useless long speeches. When shall we learn the art of simplicity in accepting where we err.
Makokha Wanjala M.
Monday, August 10, 2009
Sunday, November 9, 2008
FACTS ON COOP IPO
Cooperative Bank IPO: Comparative Analysis with Listed Peers
The cooperative Bank IPO will soon be coming to an end on November 13th and many investors (applicants) would like to know how the new bank at the NSE compares with others listed banks. After comparing the financial statements of five banks – Cooperative Bank, Barclays Bank of Kenya, Kenya Commercial Bank, Equity Bank and Standard Chartered Bank (Kenya) - analysts at Nairobist.com have come to the following conclusion regarding the financial comparability of Cooperative Bank with its listed peers on their 2007 end year audited results.
Profitability
In 2007 Barclays recorded the highest profit after tax of ksh.4.9 billion followed by Standard chartered with Ksh.3.47 billion, KCB with Ksh.2.97 billion, Equity with Ksh.1.89 and trailing the list is Cooperative with Ksh.1.55. however Equity and Cooperative registered the biggest growths in their profit before tax (PBT) by 114.5% and 84.6% respectively. Cooperative Bank expects a 50% growth in 2008. KCB and Standard Chartered also reported impressive growth levels of 33% and 29% in PBT compared to Barclays mere 9%.
Balance sheet reviews
Compared to other four banks, Standard chartered has a healthy balance sheet and recorded the lowest cost to income ratio of 46% followed by Equity at 53%, Barclays at 59% , Cooperative at 60% and KCB at 65%.This means that Standard chartered is able to generate more income at the lowest cost. Cooperative bank has one of the highest cost to income ratio after KCB.
Lending Capacity
In regards to the lending capacity of these banks, Standard chartered is able to lend more as its gross loans and advances to deposits ratio stood at 53% compared to Barclays whooping 96%,Cooperative – 70%, Equity – 69% and KCB - 68% .In essence Barclays has lend out most of the customer deposits. The lending capacity of Cooperative Bank also doe not look good with only 30% of their customer deposit available for lending.
Loan Interest Rates
Cooperative bank still has the highest loan interest rate at 19% while the other banks around 18%. Barclays has the lowest lending rates at 16%.
Opinion on Cooperative Bank Financial Strength
Comparatively, apart from having one of the highest growth rate, Cooperative Bank does not bring anything new to the table. Some of the figures displayed by this bank are not fairing well compared to its listed industry peers. But its listing price is a big discount compared to the others and may, as anticipated, rise of about Ksh.15 when it start trading on the NSE.
The cooperative Bank IPO will soon be coming to an end on November 13th and many investors (applicants) would like to know how the new bank at the NSE compares with others listed banks. After comparing the financial statements of five banks – Cooperative Bank, Barclays Bank of Kenya, Kenya Commercial Bank, Equity Bank and Standard Chartered Bank (Kenya) - analysts at Nairobist.com have come to the following conclusion regarding the financial comparability of Cooperative Bank with its listed peers on their 2007 end year audited results.
Profitability
In 2007 Barclays recorded the highest profit after tax of ksh.4.9 billion followed by Standard chartered with Ksh.3.47 billion, KCB with Ksh.2.97 billion, Equity with Ksh.1.89 and trailing the list is Cooperative with Ksh.1.55. however Equity and Cooperative registered the biggest growths in their profit before tax (PBT) by 114.5% and 84.6% respectively. Cooperative Bank expects a 50% growth in 2008. KCB and Standard Chartered also reported impressive growth levels of 33% and 29% in PBT compared to Barclays mere 9%.
Balance sheet reviews
Compared to other four banks, Standard chartered has a healthy balance sheet and recorded the lowest cost to income ratio of 46% followed by Equity at 53%, Barclays at 59% , Cooperative at 60% and KCB at 65%.This means that Standard chartered is able to generate more income at the lowest cost. Cooperative bank has one of the highest cost to income ratio after KCB.
Lending Capacity
In regards to the lending capacity of these banks, Standard chartered is able to lend more as its gross loans and advances to deposits ratio stood at 53% compared to Barclays whooping 96%,Cooperative – 70%, Equity – 69% and KCB - 68% .In essence Barclays has lend out most of the customer deposits. The lending capacity of Cooperative Bank also doe not look good with only 30% of their customer deposit available for lending.
Loan Interest Rates
Cooperative bank still has the highest loan interest rate at 19% while the other banks around 18%. Barclays has the lowest lending rates at 16%.
Opinion on Cooperative Bank Financial Strength
Comparatively, apart from having one of the highest growth rate, Cooperative Bank does not bring anything new to the table. Some of the figures displayed by this bank are not fairing well compared to its listed industry peers. But its listing price is a big discount compared to the others and may, as anticipated, rise of about Ksh.15 when it start trading on the NSE.
Friday, November 7, 2008
COOPERATIVE IPO - A must buy
As ou wait and dily dally as to wether to buy in the IPO of cooperative bank, you are forgoing a real chance to make money. The market is heading north and this uplift is good for an IPO. Again the lead transaction advisors must have learnt from the Safaricom experience. This must have been heavily discounted so there is good reason to buy in. Lets watch the space and see how it goes
Sunday, April 27, 2008
Kenyan on going research
CBSR is at the moment undertaking the following studies:
Motivation and Morale among front office staff in Public enterprises - Is poor pay the issue?
Loans Policy among SACCOS in Kenya - are societies fueling member ignorance?
Factors affecting investment decision in public universities- Do stakeholder value creation apply in the Kenyan Scenario?
other upcomming studies and vacancies will be advertised sometime mid may so keep checking
Makokha Wanjala - Lead Researcher
Motivation and Morale among front office staff in Public enterprises - Is poor pay the issue?
Loans Policy among SACCOS in Kenya - are societies fueling member ignorance?
Factors affecting investment decision in public universities- Do stakeholder value creation apply in the Kenyan Scenario?
other upcomming studies and vacancies will be advertised sometime mid may so keep checking
Makokha Wanjala - Lead Researcher
Monday, February 18, 2008
KALONZO FACES HEAT
I had argued through a long article elsewhere on this blog that the biggest fool atleast in a political sense in Kenya is one Kalonzo Musyoka. It is still to early in the day but slowly the truth is bearing me out.,
Thursday, January 31, 2008
ANOTHER ODM MP IS SHOT DEAD
Ainamoi MP shot dead – Makokha Wanjala M
Ainamoi Member of Parliament David Kimutai Too has been shot dead.The Orange Democratic Movement MP was shot dead in Eldoret earlier today, in what local security officials said was a love triangle. A policeman, suspected of the murder has been arrested. The policeman is alleged to have also shot a woman who was rushed to hospital. The incident took place shortly after 10am in the outskirts of Eldoret town. Mr Too is the second ODM MP to be shot dead in as many days following the murder of the Embakasi MP Mugabe Were on Wednesday morning. ODM leaders addressed a news conference in Nairobi where they condemned the killing of the MP. Meanwhile, police say the killing of Ainamoi MP David Kimutai Too bordered in a love triangle. Police Commissioner Major General Hussein Ali said the suspect would be charged in court tomorrow with murder. The suspect has been arrested and is being held in Nakuru, Maj Ali said. “The constable will stand charges of murder tomorrow,” Maj Ali told a news conference at his Vigilance House office in Nairobi. The MP, he said, picked a woman constable from Eldoret police station at 9.30 am and drove in a Toyota Carina to West Indies residential estate. The suspected is also a constable, who graduated from the police training college at the same time with the woman. Police said both constables had been living together as husband and wife. Mr Ali described the relationship between the two constables as intimate and that the woman was in critical condition following the brutal attack. There was intimate relationship between the two constables,” Mr Ali said. He explained: “It is unfortunate that the man died; the woman is in critical condition. The officer was arrested at Turbo as he tried to escape and taken to Nakuru”. The police commissioner warned the public against using the incident to incite others . The warning came following the fluid political situation in the country. “It will be wrong for people, including politicians to use the incident to incite the public,” Mr Ali said. Initial reports had indicated that a police officer had shot at his two colleagues, killing them.
Un confirmed reports indicate that Messrs Mudavadi, Ruto and Dr. Sally Kosgei have left the crisis talks being chaired by ANNAN as they review their position in view of the murder of yet one of their MP
Ainamoi Member of Parliament David Kimutai Too has been shot dead.The Orange Democratic Movement MP was shot dead in Eldoret earlier today, in what local security officials said was a love triangle. A policeman, suspected of the murder has been arrested. The policeman is alleged to have also shot a woman who was rushed to hospital. The incident took place shortly after 10am in the outskirts of Eldoret town. Mr Too is the second ODM MP to be shot dead in as many days following the murder of the Embakasi MP Mugabe Were on Wednesday morning. ODM leaders addressed a news conference in Nairobi where they condemned the killing of the MP. Meanwhile, police say the killing of Ainamoi MP David Kimutai Too bordered in a love triangle. Police Commissioner Major General Hussein Ali said the suspect would be charged in court tomorrow with murder. The suspect has been arrested and is being held in Nakuru, Maj Ali said. “The constable will stand charges of murder tomorrow,” Maj Ali told a news conference at his Vigilance House office in Nairobi. The MP, he said, picked a woman constable from Eldoret police station at 9.30 am and drove in a Toyota Carina to West Indies residential estate. The suspected is also a constable, who graduated from the police training college at the same time with the woman. Police said both constables had been living together as husband and wife. Mr Ali described the relationship between the two constables as intimate and that the woman was in critical condition following the brutal attack. There was intimate relationship between the two constables,” Mr Ali said. He explained: “It is unfortunate that the man died; the woman is in critical condition. The officer was arrested at Turbo as he tried to escape and taken to Nakuru”. The police commissioner warned the public against using the incident to incite others . The warning came following the fluid political situation in the country. “It will be wrong for people, including politicians to use the incident to incite the public,” Mr Ali said. Initial reports had indicated that a police officer had shot at his two colleagues, killing them.
Un confirmed reports indicate that Messrs Mudavadi, Ruto and Dr. Sally Kosgei have left the crisis talks being chaired by ANNAN as they review their position in view of the murder of yet one of their MP
AINAMOI MP DEAD
Ainamoi MP shot dead
By Makokha Wanjala M
Last updated: 1 minute ago
Ainamoi Member of Parliament David Kimutai Too has been shot dead.
The Orange Democratic Movement MP was shot dead in Eldoret earlier today, in what local security officials said was a love triangle.
A policeman, suspected of the murder has been arrested. The policeman is alleged to have also shot a woman who was rushed to hospital.
The incident took place shortly after 10am in the outskirts of Eldoret town.
Mr Too is the second ODM MP to be shot dead in as many days following the murder of the Embakasi MP Mugabe Were on Wednesday morning.
ODM leaders addressed a news conference in Nairobi where they condemned the killing of the MP.
Meanwhile, police say the killing of Ainamoi MP David Kimutai Too bordered in a love triangle.
Police Commissioner Major General Hussein Ali said the suspect would be charged in court tomorrow with murder.
The suspect has been arrested and is being held in Nakuru, Maj Ali said.
“The constable will stand charges of murder tomorrow,” Maj Ali told a news conference at his Vigilance House office in Nairobi.
The MP, he said, picked a woman constable from Eldoret police station at 9.30 am and drove in a Toyota Carina to West Indies residential estate.
The suspected is also a constable, who graduated from the police training college at the same time with the woman.
Police said both constables had been living together as husband and wife.
Mr Ali described the relationship between the two constables as intimate and that the woman was in critical condition following the brutal attack.
There was intimate relationship between the two constables,” Mr Ali said. He explained: “It is unfortunate that the man died; the woman is in critical condition. The officer was arrested at Turbo as he tried to escape and taken to Nakuru”.
The police commissioner warned the public against using the incident to incite others .
The warning came following the fluid political situation in the country. “It will be wrong for people, including politicians to use the incident to incite the public,” Mr Ali said. Initial reports had indicated that a police officer had shot at his two colleagues, killing them
By Makokha Wanjala M
Last updated: 1 minute ago
Ainamoi Member of Parliament David Kimutai Too has been shot dead.
The Orange Democratic Movement MP was shot dead in Eldoret earlier today, in what local security officials said was a love triangle.
A policeman, suspected of the murder has been arrested. The policeman is alleged to have also shot a woman who was rushed to hospital.
The incident took place shortly after 10am in the outskirts of Eldoret town.
Mr Too is the second ODM MP to be shot dead in as many days following the murder of the Embakasi MP Mugabe Were on Wednesday morning.
ODM leaders addressed a news conference in Nairobi where they condemned the killing of the MP.
Meanwhile, police say the killing of Ainamoi MP David Kimutai Too bordered in a love triangle.
Police Commissioner Major General Hussein Ali said the suspect would be charged in court tomorrow with murder.
The suspect has been arrested and is being held in Nakuru, Maj Ali said.
“The constable will stand charges of murder tomorrow,” Maj Ali told a news conference at his Vigilance House office in Nairobi.
The MP, he said, picked a woman constable from Eldoret police station at 9.30 am and drove in a Toyota Carina to West Indies residential estate.
The suspected is also a constable, who graduated from the police training college at the same time with the woman.
Police said both constables had been living together as husband and wife.
Mr Ali described the relationship between the two constables as intimate and that the woman was in critical condition following the brutal attack.
There was intimate relationship between the two constables,” Mr Ali said. He explained: “It is unfortunate that the man died; the woman is in critical condition. The officer was arrested at Turbo as he tried to escape and taken to Nakuru”.
The police commissioner warned the public against using the incident to incite others .
The warning came following the fluid political situation in the country. “It will be wrong for people, including politicians to use the incident to incite the public,” Mr Ali said. Initial reports had indicated that a police officer had shot at his two colleagues, killing them
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