₦airaland Forum

Sounds baboon grunting to me. Only a desperate investor would sell it back to Kenya gov. I dont remember saying 4G license is 300M - I said 50M is small money because licensing alone in Telcom in sector is a lot of money.

In the meantime basic financial accounting knowledge would do you a lot of good rather than usual baboon like grunting.

obaaderemi:
All this repetitive bullshit is unnecessary if you weren't lying from the beginning. Where did I say Helios bought telkom Kenya from Kenyan government? What is it with little Indians and lying?

I had to let you know what 4g license costs in your country. You didn't even know but was arguing blindly as usual. Now I'm asking you for a source to defend your claim that Helios paid your stupiid government$300m for a 4g license. I bet you can't. Just say you made a mistake. We're already used to your errors and lies.

Secondly all reports point to the fact that Helios sold those assets and your government got nothing. Until you can come up with evidence that your government actually got something from that deal. For your information, Telkom Kenya was making good money but no profit. There's a difference between revenue and profit. The revenue was going on salaries. The Nigerians retrenched several workers, stopped spending money on the useless company as far back as 2019, sold off its assets, then dumped it into Ruto's laps and still got $50m for their flight out of Nairobi.
Again, just like the RCC deal, Nigerians outsmarted you little Indians.

They are not the same.
One is consumption (many mouths to feed like Nigeria) - so you need to produce and sell lots of stuff.
The other is saving & investment ( Saudi Arabia, Namibia, Norway).
Namibia is a small country but with very deep savings and pension system.
Kenya has fallen behind 10yrs on capital/saving/pensions- and has even been overtaken by Uganda.
This what Ruto gov is keen to fix.

Consumer goods versus Capital goods.

obaaderemi:
Fact is Nigeria is doing better than Kenya in that aspect. And what is retail and industrialization without a good financial market?

rvp2018:
Sounds baboon grunting to me. Only a desperate investor would sell it back to Kenya gov. I dont remember saying 4G license is 300M - I said 50M is small money because licensing alone in Telcom in sector is a lot of money.

In the meantime basic financial accounting knowledge would do you a lot of good rather than usual baboon like grunting.

You always resort to insults when you are losing.
Why would they not sell the scrap back when they already sucked it dry? Kenyas government is just stupid, wasting taxpayers money. $50m for a company with little tangible assets left? That's thievery.

About the 4g license, this is one of the nonsense you said:

rvp2018:
In terms of licensing - 24M is annual 4G license- the initial
license cost Telkom - 50m (the amount the idiots Helios
paid)
https://www.itnewsafrica.com/2007/08/kenya-government-
set-to-license-fourth-mobile-operator/
But Telkom Kenya will be required to pay a licence fee of $55
million (Sh3.9 billion) —similar to the amount paid by
Safaricom and Celtel. Econet is being asked to pay $27
million .

Then out of desperation, you backed it up with a 2007 article talking about something else.

You were either lying or you don't seem to know much about stuff going on in your country.

rvp2018:
They are not the same.
One is consumption (many mouths to feed like Nigeria) - so you need to produce and sell lots of stuff.
The other is saving & investment ( Saudi Arabia, Namibia, Norway).
Namibia is a small country but with very deep savings and pension system.
Kenya has fallen behind 10yrs on capital/saving/pensions- and has even been overtaken by Uganda.
This what Ruto gov is keen to fix.

Consumer goods versus Capital goods.

Nowhere did I say they were the same. But one impacts the other. If savings are low, other aspects are affected.

Buying any telkom company even without any asset for 50M is a steal.
That is why gok exercised their pre-emptive right.
Safaricom just paid 850M to be allowed in Ethiopia.
Telcom are big deal...and this one as long as it still going concern...is huge bargain.

obaaderemi:
You always resort to insults when you are losing.
Why would they not sell the scrap back when they already sucked it dry? Kenyas government is just stupid, wasting taxpayers money. $50m for a company with little tangible assets left? That's thievery.

About the 4g license, this is one of the nonsense you said:

Then out of desperation, you backed it up with a 2007 article talking about something else.

You were either lying or you don't seem to know much about stuff going on in your country.

Investment can either be through own savings or by leveraging other people savings by borrowing. Kenya for the last 10yrs has been doing a lot of borrowing cheap chinese money and some expensive Eurobonds.

Lack of savings is not lack of investment.

But obviously you soon hit a wall with borrowing (Ghana is good example) - and now kenya has to rebalance the economy by growing capital markets, pensions, insurances and whole of that investment spaces - and get more Helios venture /equity funds.

Helios have invested 1 billion dollars plus in kenya - and we didnt have to borrow - they came, they saw, invested, made profit or losses, and left

obaaderemi:
Nowhere did I say they were the same. But one impacts the other. If savings are low, other aspects are affected.

rvp2018:
Buying any telkom company even without any asset for 50M is a steal.
That is why gok exercised their pre-emptive right.
Safaricom just paid 850M to be allowed in Ethiopia.
Telcom are big deal...and this one as long as it still going concern...is huge bargain.

Getting $50m for a rust bucket you have looted out is a big deal. Helios really should be investigated. How can you, since 2019, stop investing in a company that continues to generate revenue?

1- 2: Kano state ( North West) : on of The largest Cancer treatment center is about to be commissioned in Kano state (Northern Nigeria)
Installation of modern equipment at the Kano Cancer Treatment Center , commences. Project will be completed this year

3-4 : Sokoto state (northwestern Nigeria) The $150m Dangote Rice Mill in Sokoto. Construction continues to produce 280,000 metric tonnes of rice annually through a 5.8MW power plant.

68816419:
1- 2: Kano state ( North West) : on of The largest Cancer treatment center is about to be commissioned in Kano state (Northern Nigeria)
Installation of modern equipment at the Kano Cancer Treatment Center , commences. Project will be completed this year

3-4 : Sokoto state (northwestern Nigeria) The $150m Dangote Rice Mill in Sokoto. Construction continues to produce 280,000 metric tonnes of rice annually through a 5.8MW power plant.

Some people would soon tell you Dangote has monopoly on rice too.

You know nothing about Telcommunication. Let give example Yu a mobile provider had 1 million subscribers - it was sold for 100M dollars to Airtel - after it was stripped of Base Stations (sold to Safaricom).

Now Telkom kenya has nearly 4 million and control about 20% of kenya internet market. That is worthy close to 500M in my estimate. That value of its 4 million customers.

Helios got played. They helped sustained Telkom (they took loans including 40M dollars from , cleaned up it balance sheet (by selling assets to clear liablities - as we speak now I think they dont owe gov in tax areas & license fee).

They tried to sell it to Airtel - but gov blocked it over "security concerns" - and eventually gov got it for almost free - by pre-empting the sale- 50M dollars is free useless money in Telcommunication. Helios paid 600M dollars for this.

One switch is close to 10-20M dollar - ask Nokia or Erickson or Huawei. 50M in telecommunication for whopping 60% stake is give away.

If today Telkom decide to close shop - and sell it's 4 million subscribers - that is clean 400M dollars using Yu valuation - YU sold about a million subscribers to Airtel - and sold the base stations to Safaricom

https://www.eib.org/en/projects/pipelines/all/20170635

obaaderemi:
Getting $50m for a rust bucket you have looted out is a big deal. Helios really should be investigated. How can you, since 2019, stop investing in a company that continues to generate revenue?

4th floor, 26 more floors to go.

Mombasa

Waterbus plying Kisumu - Mbita - Mfangano route.

rvp2018:
You know nothing about Telcommunication. Let give example Yu a mobile provider had 1 million subscribers - it was sold for 100M dollars to Airtel - after it was stripped of Base Stations (sold to Safaricom).

Now Telkom kenya has nearly 4 million and control about 20% of kenya internet market. That is worthy close to 500M in my estimate. That value of its 4 million customers.

Helios got played. They helped sustained Telkom (they took loans including 40M dollars from , cleaned up it balance sheet (by selling assets to clear liablities - as we speak now I think they dont owe gov in tax areas & license fee).

They tried to sell it to Airtel - but gov blocked it over "security concerns" - and eventually gov got it for almost free - by pre-empting the sale- 50M dollars is free useless money in Telcommunication. Helios paid 600M dollars for this.

One switch is close to 10-20M dollar - ask Nokia or Erickson or Huawei. 50M in telecommunication for whopping 60% stake is give away.

If today Telkom decide to close shop - and sell it's 4 million subscribers - that is clean 400M dollars using Yu valuation - YU sold about a million subscribers to Airtel - and sold the base stations to Safaricom

https://www.eib.org/en/projects/pipelines/all/20170635

You know you really need to stop lying! Airtel and Safaricom paid$100m for YuMobile. It wasn't Safaricom that sold YuMobile to Airtel. It was a joint bid.

You either don't know anything about what's going on in your country or you are lying. That Telkom deal was a mistake on your government's part from the very beginning. They're just wasting poor Kenyan taxpayers money. Did you know your government gave all manners of shareholders loans to that company even though it held not more than 40% of the company. The foreign owners kept going back to your Treasury for financing and they kept getting it! Let me start with Orange. I'm beginning to think Orange kind of gave that company to Helios or asked the Nigerians for very little.
Happy reading:

France Telecom was touted because it had solid
capital resources to invest and to turn Telkom
Kenya into a company capable of competing wi
nimbler, modern players.
Six years down the line, none of the objectives
for which Telkom Kenya was sold has been met
The company is permanently knocking on the
door of the government for massive shareholde
loans.
In March 2008, barely a year after France
Telecom had taken over as majority shareholde
the foreign investor handed the government a
request for massive short term shareholder loa
of Ksh6.3 billion ($76 million).
(Read: Telkom Kenya still needs $92m from
shareholders to stem cashflow problems)
The French investors requested that the loan be
released in three tranches — Ksh4.5 billion ($5
million) in March, Ksh1.3 billion ($16 million) i
May and Ksh0.5 billion ($6 million) in July 200
In February, France Telecom came up with a
completely new tactic for getting favours out of
the government. The French investor ambushe
the government with a massive $385 million
demand, this time claiming that the fixed assets
register it had inherited when it took over been
tampered with.

https://www.theeastafrican.co.ke/tea/news/east-africa/telkom-a-textbook-case-of-privatisation-deal-gone-bad--1307654
Up to this year your silly government was still giving shareholders loans to Helios, a company that stopped investing in telkom since 2019. I told you, that $50m was just a bonus to the Nigerians. Probably your politicians are using Telkom to steal money in collaboration with these foreign partners.

The Ghanaians seem so quiet these days.

obaaderemi:
The Ghanaians seem so quiet these days.

Mad oo

obaaderemi:
The Ghanaians seem so quiet these days.

i noticed too.The cedi is really misbehaving.I wonder what will happen when the latest GDP figures comes out.It looks like another Sudan story is loading.

Dont get lost in details.
Airtel - got the subscriber - and from what I have seen they paid 100M dollars ( I total deal was 120M dollars) - that is I am telling even if you stripped Telkom of everything - it's 4 million subscribes - 4 times - would be worth 400M dollars.
Secondly understand BASIC financial accounting for god sake.
Kenya Gov has always been a shareholder of Telkom.
Kenya Gov started with 100% -it "invested" about 600M dollars to basically clean it up - this was mostly foregoing taxes and other such things.
Then it sold 51% of it to Orange - for 26B - dollars 350M plus then in 2007.
It got a premium of 6B (more than what Helios are paying in 2022 ) - because the 51% stake was valued at 20B kshs.
Again slowly - Orange started complaining that Kenya gov had lied to them.
They came up with restructuring plan - where each shareholder was to finance it - it had chalked up 48B Kshs in debt.
Kenya gov was to raise 49% of that - Orange 51%. This right issue - shareholders bring in more capital.
kenya gov "forgot" about it - Orange brought in another 300M dollars
The Loan to Telkom was therefore converted - their shareholding increase from 51 percent to 70%.
Again the were unhappy - as company was hopeless - Safaricom is behemoth.
They started looking for NEXT BIG FOOL.
In comes Helios - willing to pay 500-600M dollars. Orange told them they will even loan them money and arrange with European Investment Bank.
Helios dived in.But to stop kenya pre-emptive rights - they seceded 10 percent shareholding.
They found the same bankrupt company
They arrange for Telkom to take couple of loans - and keep it going.
Bankrupt again - shareholders - another restructuring plan - for 20B - say 200M dollars.
Kenya gov only gave 2.5B - it wasnt enough - so it was decided to sell assets- to offset liabilites - NOT to declare profit

Now long story short - sold for laughable 50M dollars.

Understand BASIC FUNDAMENTAL HIGH SCHOOL ACCOUNTING.

There are only two ways Helios could have made money from Telkom 1) Dividend 2) CAPITAL GAINS - when they eventually sold their shareholding. There is no evidence Telkom has ever made profit leave alone declared dividends. Kenya gov would declare the same as revenues to public kitty.

Even if Telkom sold everything - until it declares Profit After Tax - Helios were never going to get that money. Unless they corruptly participated in sale of assets....say undervalue the assets and engage in corruption. I doubt they'd dare do that. The fines they can get in London would kill them.

obaaderemi:
You know you really need to stop lying! Airtel and Safaricom paid$100m for YuMobile. It wasn't Safaricom that sold YuMobile to Airtel. It was a joint bid.

You either don't know anything about what's going on in your country or you are lying. That Telkom deal was a mistake on your government's part from the very beginning. They're just wasting poor Kenyan taxpayers money. Did you know your government gave all manners of shareholders loans to that company even though it held not more than 40% of the company. The foreign owners kept going back to your Treasury for financing and they kept getting it! Let me start with Orange. I'm beginning to think Orange kind of gave that company to Helios or asked the Nigerians for very little.
Happy reading:

https://www.theeastafrican.co.ke/tea/news/east-africa/telkom-a-textbook-case-of-privatisation-deal-gone-bad--1307654
Up to this year your silly government was still giving shareholders loans to Helios, a company that stopped investing in telkom since 2019. I told you, that $50m was just a bonus to the Nigerians. Probably your politicians are using Telkom to steal money in collaboration with these foreign partners.

Tanzania's shithole trains are on a way coming from Korea


I miss magufuli.

You are still expecting a bullet train - Those start at 250kms per hour.

Kazikazi:
Tanzania's shithole trains are on a way coming from Korea


I miss magufuli.

They soon will not afford to buy bread leave alone internet bundles

obaaderemi:
The Ghanaians seem so quiet these days.

rvp2018:
You are still expecting a bullet train - Those start at 250kms per hour.

Once that woman goes out,we will buy bullet trains of 250kph.All infrastructure is there. For now,we just need to remove those witches who are killing magufulis dream
We will take them out.Time for foolishness is over

rvp2018:
They soon will not afford to buy bread leave alone internet bundles

There are too many cassava in Africa,no need to stress about those GMO bread from ukraine

Kazikazi:
Tanzania's shithole trains are on a way coming from Korea


I miss magufuli.

You really over hyped those trains. Now see what you are getting

Kazikazi:
Once that woman goes out,we will buy bullet trains of 250kph.All infrastructure is there. For now,we just need to remove those witches who are killing magufulis dream
We will take them out.Time for foolishness is over

But your line doesn't support a speed above 160km/h, so tell me Mr. Kumakazi. How will you achieve 250km/h?

UAE bans africans......
But what baffles me is how kenya is missing on a list


http://www.channelafrica.co.za/sabc/home/channelafrica/news/details?id=ce26b8d9-1f5b-4b42-8ed9-d109ca948d5f&title=UAE%20slams%20visa%20ban%20on%20all%20citizens%20of%20Nigeria,%20Ghana,%2017%20other%20African%20countries

Wuoche:
You really over hyped those trains. Now see what you are getting

You kibera witch..
Magufuli built that railway which can go as high as 250kph. Even the stations were designed for only EMUs not those shithole old carriages which will cause Alot of inconveniences.
But i can't talk too much about electric stuff to someone who is on diesel mode.Know your levels Mr kibera

Kenyans are law abiding citizen. In South Africa - and elsewhere - Tanzania are tagging along Nigerians - selling drugs.

Kazikazi:
UAE bans africans......
But what baffles me is how kenya is missing on a list


http://www.channelafrica.co.za/sabc/home/channelafrica/news/details?id=ce26b8d9-1f5b-4b42-8ed9-d109ca948d5f&title=UAE%20slams%20visa%20ban%20on%20all%20citizens%20of%20Nigeria,%20Ghana,%2017%20other%20African%20countries

Kazikazi:
UAE bans africans......
But what baffles me is how kenya is missing on a list


http://www.channelafrica.co.za/sabc/home/channelafrica/news/details?id=ce26b8d9-1f5b-4b42-8ed9-d109ca948d5f&title=UAE%20slams%20visa%20ban%20on%20all%20citizens%20of%20Nigeria,%20Ghana,%2017%20other%20African%20countries

Why are you baffled? Kenya(ns) is(are) better in every aspect.

Small town Kericho, Kenya

rvp2018:
They soon will not afford to buy bread leave alone internet bundles

It can never get to that level. Ghana will bounce back sooner than later.