₦airaland Forum

We sold a sick cow - they have gone ahead and treated it - and sold it back for nothing - so we can sell it again. kenya gov should now sell Safaricom shareholding - and focus on fixing Telkom kenya.

The whole digital economy that kenya gov want to do - Telkom can lead that - it need to be capitalized a little - and then allowed to work with KPLC to lay fiber alongside all the electricity lines - and they will be swimming in power.

There is scope for proper telcom company dealing with backbone infrastructure - mostly fiber broadband.

Ruto promised to lay 100,000 kilometres of internet fibre all over the country over five years.

Shma2022:
Insane move!!! It's like selling a dying cow at an extremely huge price. 7 folds of profit is something else. That's a mega jackpot win. Either way, there will be no point of break even. We just need to make it a profit-accruing investment; better than before... For the greater good.

Yes that is part he doesnt understand. Kenya gov sold it for 380M for 40% stake. Orange group pumped another 300M cashflow - Kenya gov refused and Orange took their shareholding to 70%.

So we sold it for 680M dollars - and have bought it back for 50M dollars.

And Helios & Orange have cleaned it up - it's probably operationally profitable.

Soon kenya Treasury will sell it for another 750M dollars.

They left minus their shirts.
https://www.ecofinagency.com/telecom/0410-43920-kenya-acquires-sole-ownership-in-telkom

According to a source quoted by Business Daily Africa, the government exercised its pre-emptive rights after Helios informed it of its intention to leave Telkom. "We bought the shares because the government was afraid Helios was going to sell to an investor that did not share the same vision with us in the turnaround of Telkom Kenya," the source said.

Shma2022:
We can juxtapose the epitome of Equity's genius move with helios's dumb move.

Kenya has just fully acquired Telkom at its peak; With a mere $50m. It's funny how we sold it @ $380Million when it was oozing loss after loss.
https://www.businessdailyafrica.com/bd/corporate/companies/state-fully-acquires-telkom-kenya-sh6-09-billion-deal-3971980

Demonstrate they're more than East Africa combined.

obaaderemi:
Many of the companies in your link are in ogun state.

Helios had hit a jackpot with Equity - and exited prematurely - now Equity is racing to become Sub Saharan Africa biggest bank outside south africa

Boneheaded...

This takes Helios’ earnings from the bank to a total of Sh44.1 billion, quadrupling the Sh11 billion it paid in December 2007 to acquire the 24.99 per stake.

The London-based PE firm also collected dividends totalling Sh6.5 billion from Equity, taking its total return on investment to 360.9 per cent or 24.3 per cent compounded annually.

This makes it one of the highest returns earned by a PE firm in Kenya , underlining the lucrative earnings by such funds, which typically have a seven-year investment horizon.

You cant even do the barest minimum of research.
Helios - UK fund - not even Nigeria made boneheaded investment.
Kenya has more PE/Venture funds than Nigeria.

I have no problem with Helios - I just have a problem with their bone-headed decision to invest in Telkom.

Their investment in Equity was genius. In 2007 they invested ($120.2 million) for 25% stake.
In 2015 - they sold it for four times the amount - 500M - about 250M dollars for 12.5% stake to Norfund.
The Norwegian still hold that 12.5% of Equity Group - brilliant japs.

Now the Nigerian-Britons - made boneheaded decision - took 600M dollars - gave it to Orange group for 70 percent of bankrupt company whose liabilities far exceed it's asset.

Now they have sold to Kenya gov for 50m dollars - that is height of stupidity and desperation.

obaaderemi:
There's no search results that says what helios paid for that scrap. The only results I got showed Helios raked him billions of shillings from asset stripping your company and still getting paid for it by the stupid Ruto guy. He's probably part of the scam.

And you need to stop crying about the Equity deal. The Nigerians divested after making their money. They smiled out of your shithole.

Focus on manufacturing - not eggs or limestone or cassava or a yet to be built agor-cargo airport. You think you'll just build and fly cargo - by the time you get through the export certification in most countries - it will be year 2030.

Show me how Ogun manufacturing is large.

Start from here - MAN - Nigeria's Manufacturers assocation.

https://www.manufacturersnigeria.org/MembersDirectory

68816419:
Ok.
About Ogun state
1. The state is the world's top producer of cassava.
2. West Africa's top producer of eggs
3. the state has the greatest limestone quantity in Nigeria.
4. The city in Africa with the most industrial estates
5. The largest agro-cargo airport in Africa is now being built at an incredible rate, making it the continent's quickest airport builder.

Nonsense from Nigeria as always

68816419:
Ogun state (south-West Nigeria) , which has more industrial estates than all of East Africa combined, is in fact one of the fastest-growing states in Africa.

https://www.youtube.com/watch?v=sk5yicjsiQ8

Kenya electric motorbikes and bus conversion gather momentum

https://www.youtube.com/watch?v=TynLsHHRAx0

The Zoo purporting to advise kenya on anything is crazy.
Start here -https://www.hsnp.or.ke/

samorobo:
Idiot,this is the first time Nigerian govt will be experiencing a flood of this scale after 2008,so why would they budget for it.
Your govt only budget on plastic bowl to go beg for food from wfp and UN every single year. They have done absolutely nothing to ease they. 18m living humans are rotting away to hunger and your govt haven’t even lost a sleep for one night and here you are trying to lecture us. You just be out of your insane rotten mind.

Ghana is in bad place.Hyperinflation has kicked in; Only IMF stepping in with their loan as soon as possible will save them; by xmas we are looking at 30 cedis to a dollar; a collapsed formal economy;

Shma2022:
This is terrible.

Cedi has depreciated by a whopping 119%. Damn!

Kazikazi:
Mostly we import from China.just look a guy who ordered and received more than 200 buses from China to Tz.These were imported by just one company at a go. Imagine what Chinese would have said if they had that kenyan brain of shouting?
You have a long way to start shouting.


https://www.youtube.com/watch?v=yZz_kZVB1jo

I thought you were industrialized .. continue selling beans, maize and cashew nuts

GeneralDae2:
So how do you know Nigerian Government is not assisting?

By watching news..that how I knew it was flooding and apart from Nigeria red cross the a 1.5 million victim are on their own.Kenya gov run an hunger safety net with school feeding program on annual basis of 200m dollars and for this drought it's sought funding now approaching half a billion dollars.Nigeria has zero budget for flooding or for post flooding repairs.The drought victim kills farmers and flood victim pull themselves by their bootstrap

Nigeria flooding is almost annual ritual - every 3yrs.
This worse in 10yrs
Unusual drought last seen in 40yrs is facing east Africa or horn of africa.
Same problem - environmental disaster. More rain in Nigeria. Less rain in Horn of Africa.
Difference - kenya gov is always ready to assist drought victim.
Nigeria flooding victims on their own.

samorobo:
You simply can’t teach us anything. This is just 3 days ago.
18m Kenyans faces drought in turkana. Kenya is a disgrace. Atleast ours should be over in a matter of weeks. This is an unusual flood due to heavy downpour of rain. Your is a yearly occurrence,through out the entire year.



https://www.youtube.com/watch?v=hugq01VEaoA

You should beg to save Nigerian from flooding. Are you going to help these people at all. 500 dead - and almost zero gov help

https://www.youtube.com/watch?v=nOZ00IZaICM

obaaderemi:
Man, you are sick.

Use the search function - you'll find an article saying Helios sold Equity for 52B kshs and bought Telkom for 50B kshs.
Helios bought from Orange - they didnt buy from Kenya gov.
Helios could only have gotten 170M - if they had loaned Telkom Kenya money - not if they were equity owners.
Telkom has always been bankrupt - meaning it had not assets - whatever it had - liablities exceeded them.
You sell assets to offset liabilities - you dont cash out - as creditors, suppliers, salaries and court cases come first.
That is why French Orange bailed out.
Kenya gov sold it shareholding for 26B kshs (300M dollars) in 2007 - and have bought it back for 50M dollars.
I hope you dont mistake Nigerian jokers who sold Equity for the intelligence of either Kenya Treasury (corrupt as it maybe) or well Orange Conglomerate.
Helios have been taken to cleaners.
They have been desperate to sell - they tried to sell to Airtel - Gok vetoed on "security" reason - now it appears they wanted it back for cheap.
I am not sure how Telkom balance sheet now - but if Telkom is still surviving kenya Gov has done an incredible job.
This has always been the most bankrupt SOE - way before Kenya Airways got into problems.
Treasury did a number on Orange - by hidding it's liablities - and it caused diplomatic row with French - one of kenya most important bilateral partners. Kenya gov said okay increase your shareholding to 70% and french were happy - having pumped another 300M dollars.
But Orange found Nigerian idiots- they nearly broke even - 600M after investing 700M dollars - and took off.
Helios had no business with Kenya Gov - they bought Orange stake - except sell for 50M dollars now - pocket change for telkom company - Infact license fee alone for Telcom services is more than that - Safaricom just paid 850M dollars for license fee in Ethiopia.
Kenya gov will soon sell Telkom for serious money...again.

Heck 50M dollars for Telkom company is a JOKE - a very serious one.

obaaderemi:
Stop lying. You didn't provide any link. I've been asking you for that for days and you've been dancing around. The deal is not clear. Helios knew the company was in trouble before buying it. Simply because it meant to strip it of its assets, which it did before passing the shell back to your stupid government after getting an extra $50m. Companies like Helios are never in this kind of Investment for the long haul. As long as they've made a tidy profit for their shareholders, they exit and move on. Those$170m worth of towers and the other telkom real estate were what Helios was after all along. Something Orange didn't have the balls to do. But then these are Nigerians we are talking about.
They achieved their aim. I think Ruto is just as stupid as Uhuru. Just wasting taxpayers money.

You're already worse than Sri-lanka. By end of this week you'll be 100% plus.

We are going to watch the melt-down before xmas.

Just40:
You are a slowpoke who usually don't know much so I don't expect you to.

You should see the interior of their dafno.
Kenya is miles ahead
You wonder if they have vehicle inspection for road worthiness?

Shma2022:
You didn't even watch the video. You're just yapping for its sake.

Olodo, SAVE WORDS.

We don't have a uniform color for all matatus. Creativity is what we focus on. You paint your matatu based on your liking.

Thus say, how can you compare your danfo nonsense to highly modernized matatu?

Make sure you let your desperate gov know about this genius idea. They are desperate for anything. Including such moronic madness.

Just40:
Well we are busy borrowing internationally since that wasn't the problem...
The tool kit I'm referring to is the fact that we can make cedi even more valuable than it currently is at absolutely no cost.

At this point, the Kenyan economy is more on the level of Sri Lanka and Lebanon than the Ghanaian economy.

Good you know that currency strength is not being 1:1 so you'll understand why the Cedi remains top 4 on the continent most valuable currencies.

The strength of the Cedi is it tradability

Yes that terrible. Kenya now is 8.5M connections - with about 2 million being non-residential.

Wuoche:
60% of Tanzanian population still lives at the mercies of darkness. For those who doesn't understand Swahili,, the underlined sentence is saying that only 3.2M customers are connected to electricity in Tanzania. This include schools, hospitals, industries, shops, churches, mosques and many other premises which people doesn't live in. I'm sure if you remove the premises Tanzania electricity connectivity to her people will be 18%.

Which toolkits do you have.
You cannot borrow internationally from anyone - except if IMF agrees to a new deal.
You have been blacklisted with credit rating of zero - cc JUNK
Locally you already asking debt holders you want to negotiate.
You're in a Lebanon/Sri-Lanka crisis.

Again currency strength is not being 1:1 with dollar; You tried that and you failed;

Japan Yen is 151 to a dollar. You dont think your now useless cedis that is losing value every day is stronger than yen or south korea woun 1,500 to dollar or even veitnamese 24,000

Strength of a currency is stability - and KSH is very very stable.

Just40:
Ghana is not sure it is even going to the IMF as the look to be no need for that looking at the toolkit in the central bank.

Currently you're at 122kshs... I'm more worried about you guys having to print 5,000 and 20,000 notes for bread more than I am worried about Ghana.

My war chest is strong and we can build it up at no cost

Almost 90 percent of Dar is huge slum like West Africa slumpolis. In fact the only residential estate they have is one - by National Housing Corp.

kikuyu1:
You do know we Kenyans are familiar with the REAL TZ? Not the tourist places you superimpose pix of locals pretending they're the majority but the REAL TZ!
Anyone in Dar can't help but see Msasani slum crowding Masaki.


https://news.trust.org/item/20170104070454-rd34w

A couple of yrs ago I was in Mwanza and even if my eyes were closed Id've smelt Mabatini slums.
In 05 Unga ltd slums stood near a gated community in Arusha- I doubt it's changed; but correct me if I'm wrong.
And on and on and on! I'm sure even the Dodoma he's been assaulting our ears with hysterical screeching is no different!

GDP of 70B versus 115B.

Kazikazi:
Which GDP? That fake one?

Tanzanian is ahead of u...

Learn to have a BRT first
Learn to have electrified speedy SGR first
Learn to grow food
Learn to construct a new capital not that colonial one made by British
Learn to have engineers
Learn how to maintain peace and security
Learn to build big stuff

the day u reach this big man's levels,then,I will engage u...

I already provided the link.
They sold Equity bank for 52B.
They used 50B to buy Telkom.
That was terrible investment decision - which is why they have exited in greater secrecy.
I hope they got their cheque....as decision was made on eve of election.
Kenya gov now has Telkom back - after conning the French and Nigerias.
I am sure Ruto will clean it up - and find another fool to sell to.
Helios and Orange have helped Telkom survive for almost 15yrs - something that had been bankrupt for years.
Now it's just need quick fixes - and it's back on market.

obaaderemi:
Can you provide any link to show how much Helios paid for the company? The deal from onset was shrouded in obscurity. It's doubtful that that company was profitable. And some of the liabilities was dumped on the Kenyan government. Clearly, Helios had its eyes on those assets all along. Your government converted some of the company's debts to equity, and at the same time was still advancing loans to the company. How dumb can Kenyans be? Yet the Nigerians and their shareholders got to walk away with over ksh20bn while leaving your government holding the baby. Kenyan taxpayers have suffered.

Tanzania is only better than kenya in a deranged mind. Not a single stats I know are you better than kenya. Our GDP is now almost double yours despite large land mass, large population and name it.

Kazikazi:
Tanzania is not that too big.we have 31 regions with all those councils ( halmashauri) and some decision are made there. Again,Tanzanian poor provinces are way better than Kenya's . Turkana can be used as a case study. So why should we waste more money by having those parliaments all over the country?

That was big mistake. When everyone was running to IMF - you refused for their early intervention - because you were keen to go back to Eurobond where nobody would ask questions - and current president had promised never to go to IMF - so it was a political potato.

Now you're going to IMF in an ambulance....and IMF are not sure if they will admit you.

If CEDIS freefall is not addressed now - the hyperinflation will kick in - Cedis will go to 20, 30, 100, 1000 as negative feedback loop lead to a freefall.

In no time you'll be back to printing 50,000 cedis note just to buy bread.

Just40:
in the mist of what I've seen in our toolkit, none of those scenarios will happen unless the govt chicken out to blackmail.

IMF is not on the table at the moment just like how we refused the WB debt payment freeze that Kenya subscribed to last year which required the you subscribed to an IMF bailout.

7% depreciation in very impressive - year to date. Ghana is doing 100%. Nigeria free floating is also at near 100%.
Kshs started at around 115 in 2022 - now has gone to 121.

obaaderemi:
Interestingly, druggie, little India is not doing much better. Ksh is falling like a rock. Or can you say your currency is gaining in value? If it's falling, then you have no say.

You're desperate to make it appear Nigerian fools are smart.
First they used 52B kshs to buy it.
Even if you assume the stripped asset were somehow banked by Helios - nonsense on steroid - they all sum up to what 21B.
Total loss of 31B kshs - without factoring opportunity cost.
Obviously the story is different - for a loss making entity like Telkom - all that money was used to pay debtors and pay salaries;
It was not banked by Helios - because Telkom would have to declare profit.
Unless you assume that Helios - had LOANed the money to Telkom - not bought Equity.
Orange had been there before - they bought it for 40B kshs
And they had to keep pumping money - another 30B kshs - until they cried.
Even now with Telkom back in gov - It will still bleed public money - until it's operationally profitable.

This was the most bone-headed move by Helios and have run without their shirt at heat of election - they must have bribed something like 10% of that 50M dollars to Finance ministry just to get out.

obaaderemi:
It's actually worse than I thought.
See, companies like Helios are opportunistic. They look for quick profits. Kenyan government made a mistake buying Telkom Kenya back from the Nigerians. They should have allowed Helios to take the trouble of selling that company on its own. Because Helios already made a lot of money stripping the company of valuable assets:


But this is wickedness on the part of Helios. After pocketing over sh17bn from asset sales, they still took Sh6bn from the Kenyan government. Wicked and smart Nigerians, mumu Kenyans. Ruto should probe the whole deal if he wasn't on on the scam.https://nation.africa/kenya/blogs-opinion/opinion/launch-lifelong-audit-of-telkom-3981928

Beautiful; for magistrate court; that look more like a high court;

Kazikazi:
Tanzania
Kigoma magistrate court

Time to change that old constitution and embrace more devolution/federalism; your country is too big to be micro-managed from Dodoma. Dodoma doesnt solve anything that Dar didnt. What country need are more Dodomas all over the country.

Kazikazi:
Tanzania
High court Dodoma
The capital in the making

It's good that you have such organization -I see there is even one for beverages - impressive- but the issues here are cross-cutting broader economic issues - best addressed by all Ghanians - and cedis right now is just on a negative feedback loop - look like by monday it might be 15 cedis to a dollar.

Your country is tinkering on the tip - hyperinflation will kick in - if the negative feedback loop is not arrested - and this can only be done by nailing IMF deal as soon as possible

Otherwise Lebanon and Srilanka like financial crisis is landing in your shores.

Just40:
It's quite sensible when the business class act to put pressure on govt. There's no docility in politics here.

They are not talking about the dollar but the Cedi.
They're talking about VAT and the new invoicing introduced.

Every govt has control on their own currency exchange policies and the Bank of Ghana has a Broad policy scheme to intervene which it hasn't done yet because govt has stayed their hand to proceed cautiously.

R stand for RAPID - this one is slightly better - keep the okada motorbikes out of it - otherwise I dont see any difference in time saving with guys using the main road.

Thika road BRT will be gold standard because it's the median of the road - so very few disruption.

68816419:
What u saw was the first phase of the system and most of it lanes are dedicated
Here is the second phase of the brt system fully automated

https://www.youtube.com/watch?v=oIWy8mALwAo&t=760s

Finally - Ruto intends to ensure almost everyone get proper fiber to home internet - plus other serious reforms.