Rvp2018's Posts
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Look like they actually paid the French some serious money - There is always a bigger fool - paid 600M dollars (exchange rate of that time) - and now they taken 50M dollars .They sold Equity for 52B kshs - and put the same on Telkom Kenya. https://www.standardmedia.co.ke/business/financial-standard/article/2000182779/what-the-exit-of-orange-yumobile-tells-us-about-kenyas-telecoms-scene The value of the deal remains a closely guarded secret for now. “Unfortunately, they are not commenting on the transaction at this stage,” said Helios’ PR handlers FTI Consulting. However, sources estimate the deal to be worth about Sh50 billion. The figure is Sh24 billion more than what the Frenchmen paid ($390 million or Sh26 billion) in 2007 to acquire 51 per cent of Telkom Kenya. In the sale, the source told Business Beat that as part of the deal, the new owners are expected to take up Telkom Kenya’s debts accumulated over the years. Although the actual amount pocketed by Orange is unknown for now, close industry observers believe the deal brokered by the French company amounted to a hefty profit that could cover losses it incurred over the eight years since it started operations. However, Treasury is the biggest loser in the deal having seen its stake diluted from 49 per cent to 30 per cent, even though it has over time injected billions of shillings to keep the operator afloat. Also, Telkom Kenya has lost key assets. |
A seasoned investor would never sell Equity Bank - that bank assets have risen from 2-3B when Helios owned whopping 25% of it - now it's approaching 12B dollars - and is growing very fast. As for Telkom - it has never made any profit - Helios and Gov have had to invest more of their money once in a while sell whatever they could - most of Telkom assets are locked in legal battles with staff members. It remain with huge debts. Kenya gov has made a huge profit after lying to stupid French and Nigerians. Remember in 2007 - they sold it 6B (what helios was paid) premium over what IFC had recommended as sale prize. Notably, France Telecom had paid Sh6 billion premium above what the government’s transaction adviser, the International Finance Corporation (IFC), had quoted as the market valuation of the state corporation. obaaderemi: |
Ghana traders closes shop for 3 days as Cedis near 13 to a dollar - the next SriLanka/Lebanon. https://www.youtube.com/watch?v=ui_Fi1TnY1A https://www.youtube.com/watch?v=TeZX-URuMQo |
KaziKazi here is Mt kenya - not our other mountain (that we donated)
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If Orange bought it for 400M plus - you dont imagine they sold it for free . This was horrible investment decision, and they must be happy to finally exit - under the cloud of transition. I bet they bribed their way to get out.obaaderemi: |
Only a damn fool who'd buy Telkom Kenya. The first fools were Orange - they bought it in 2007 for $390 million Kenya Treasury smiled all the way to the bank knowing the thing was dead - it had more liabilities in pension & court case than assets. They later realized it was dead - and caused a lot of havoc - including involving the French gov in diplomatic row. Kenya gov gave them more sweeteners - took off 30B liabilities - told them to add a little more and own 70% of it. After that Orange - started looking for a bigger fool. Here comes Helios - I think they paid 250M minimum - but the French might have sold them for even 400-500M Now they have been crying since 2015 nonstop. They tried to sell it to Airtel - kenya gov told them - well it critical infrastructure - with key connections to state institutions. So in heat of last election - they probably bribed the Treasury - got 50M dollars - for 70% and run crying. I am sure they are still crying even now. https://www.standardmedia.co.ke/news/article/2000182198/orange-sells-telkom-kenya-to-private-uk-investment-firm?pageNo=1 Orange bought a controlling 51-per cent stake in the company in 2007 for $390 million. The decision by France Telkom to sell off its stake comes following months of frustration at the Government’s inability to clear the path for the restructuring of one of Kenya’s oldest institutions. In 2012, the State wrote off a Sh30 billion debt in a debt-equity swap that saw France Telkom increase its shareholding by another 20 per cent in efforts that were supposed to mark the beginning of Telkom’s turn-around. obaaderemi: |
Yes that one. Thank. Kenya has competitive advantage in battery industry - already exporting to even Egypt - and we already build buses bodies thanks to Matatu industry - and now we just need to import electric motors. So this industry we can easily corner. Electric car industry is easy to enter - it doesnt have all the complications that a normal car has - just electric motor - gearbox and battery Wuoche: |
I hope new gov can offer incentive for this and scale it up. I think there is another that already in business - they own the batteries - as that is main fear. We can lead Africa in this - if gov seriously invest in this. Wuoche: |
Investing in Equity was smart - Investing whopping 250M in Telkom was dumb - and they have cried for years - I suspect they bribed Uhuru in the last days of his regime to buy them out - 60B - that is 200M dollars down - without even factoring the opportunity cost. Again understand how such funds work - the money doesnt belong to Nigeria or Nigerians - this investment fund - they need to make money for their investors in London. Their play is Africa - but when they start burning money like in Telkom Kenya - then you know they will not only close shop - but will malign africa as investment destination for other such funds. obaaderemi: |
Safaricom has some best marketting gurus - I dont see how Ethiopian Telkom SOE will survive. Ednaseret: |
Again remember these magic words always - Kenya has a resilient well diversified economy - that has breezed through global crisis - before and the current one will just pass - and will continue to grow. Our macro-economic fundamentals speak for themselves. Having base interest rate of 7.5% alone should shut you, underlying inflation has never gone beyond 6%, overaly inflation still single digit. Minerals are source of weakness - not strength. obaaderemi: |
Kenya has 200 5G sites by now. Recently Nokia and Safaricom completed Africa’s first Fixed Wireless Access 5G slicing trial - which allows network to be split/sliced for target users/app. Kenya remember is heading to a million Fiber to Home. Nigeria doesnt even have 100K. Meaning majority of you are connected to Nairaland through mobile broadband - while most kenyans have fiber to home. Shaytun: |
Not anymore the fools were given 60m dollars after they had paid Orange (France) 250M dollars for the stake - they kept crying- and Telkom now is back as SOE - because gov say it's strategic asset. Their Helios divestment from Equity group to Telkom kenya will go down in history as one of most boneheaded investment decision ever - not only did they lose huge opportunity in Equity (One of Africa fastest bank) - but they have also literally thrown 200M dollars down the drain. https://www.businessdailyafrica.com/bd/corporate/companies/state-fully-acquires-telkom-kenya-sh6-09-billion-deal-3971980 The Treasury has acquired a 60 percent stake in Telkom Kenya from UK-based private equity fund, Helios Investment Partners, for Sh6.09 billion, making the company fully State-owned. obaaderemi: |
I am seeing something like 55K Base Station Transceivers in Nigeria - while kenya has more than 100K. -> There are over 103,000 3G/4G Base Station Transceivers in the country. The number of transceivers has increased from 42,000 in 2017 to over 103,000 this year. >> 4G transceivers Kenya’s top three telcos—Safaricom, Airtel Kenya and Telkom Kenya—have stepped up deployment of 4G transceivers across the country, increasing their number to 41,284 up from 31,914 within a year. They also increased rollout of 3G transceivers to 103,822 up from 79,847 even as most remote parts of the country continue to grapple with the slow and unreliable 2G or without mobile coverage entirely. GeneralDae: |
Scrapping the bottom of the barrel. Kenya led in digital economy by far in many parameters. Cyrptos Kenya has the largest share of its population with cryptocurrencies in Africa, says the United Nations, pointing to the country’s exposure to the ongoing meltdown in the crypto market. A report by United Nations Conference on Trade and Development (UNCTAD) says that 8.5 percent of the population or 4.25 million people own cryptocurrencies in the country. This places Kenya ahead of developed economies such as the United States, which is ranked sixth with 8.3 percent of its population owning digital currencies. War-torn Ukraine is ranked top, with 12.7 percent share of its population with cryptocurrencies, followed by Russia (11.9 percent), Venezuela (10.3 percent) and Singapore (9.4 percent GeneralDae: |
I think without getting into details - there is no doubt that jewish place in the map has led distortion of history - Europeans wanting to own Jews (before wanting to exterminate them next) - and therefore trying to delink them from it's semitic history. This of course of the Jewish history as successful people and the origin of Christianity...therefore like Ancient Egypt...many racist historians (pretty much everyone of them before genetics) tried to delink it from Africa. Close home - there is no doubt genetically that Niger-Congo/Nilo-Saharan and Afro-Asiatic (Semites like jews, Arabs, Cushites, etc) is close - E1b1b and E1b1a are genetically older brothers - what people call Middle East and Africa are essentially genetically very close - Arab/Jew/African are closer than other races. Same way Indian and European are closer. Of course, now we have more tools to use to study history; Linguistic; genetics; anthropology. Where did they live - I think the most I have seen is somewhere in Chad and the Sahara when it was not a desert like now - then they obviously split into modern tapestry - as the Sahara dried up - the semites moving westward along the west nile (now buried) - then all the way to Arabia/Isreal - and the others following nile down south - an niger river down south. As for Bantus - I hold the majoritarian view that they came from border of Cameroon and East of Nigeria - as cousins of Igbo-Yorubas - spread through eastern and southern africa. Suffice to say because of jewish exceptional achievements as a people - everyone wants to be part of their history. kikuyu1: |
theenchanter:Kshs is doing 9% depreciation against the dollar..the worst but better than many in Africa..up from usual 2-3% depreciation - Ghana will close the year at 100% depreciation while naira black market rate is close to 800 to a dollar. |
I just checked the price of 50kg bag of rice in Nigeria. Horrendous. Crime against Humanity The average price of a 50kg bag of local rice in Nigeria is ₦27,000. Rice Brand Size (bag) Price Anambra Rice 50kg ₦22,000 – ₦25,000 Lake rice 50kg ₦26,000 Mama Gold 50kg ₦27,000 – ₦28,000 Par- Excellence long grain rice 43.3kg ₦41,000 – ₦45,000 |
Got banned but until your remove the ban on rice imports; you're not producing rise; youre subsidizing rice production; you need to produce globally competitive rise. samorobo: |
Just40:what are they producing outside natural resources n weapons.. Germany is an exporting behemoth ...with I bet export value greater than it's gdp..all using cheap Russian gas n oil.Sanctions no longer works because Russia is always on one...as they are always on agression to fix USSR borders that they feel took Russian territorial integrity so almost every two or three years they are attacking their neighbors and trying to seize more territory..like 10 percent of the earth isn't enough for them |
Kazikazi:Teachers and nurses are not part of it in kenya either |
In meantime today Ruto completed the unveiling Kenya economic recovery and transformation team led by Finance Minister Prof Ndungu, Dr Ndii,Dr Kamau thugge,Dr Augustine Cheruiyot and Dr Nancy Laibuita...dream economic team akin to Chilean famed Chicago boys...proven team of imminently brilliant economist that helped Kenya recover in 2003 from Moi economic root.They brief to |
How Nigeria deny what was said verbatim by Finance minister Ahmad .that just pr https://www.bloomberg.com/news/articles/2022-10-12/nigeria-exploring-restructuring-some-debt-finance-minister-says |
We have no problem. Nigeria gas pipeline welders have come to Kenya. What is not possible in Kenya is to come without a WORK PERMIT and start working It's just not possible - if found - it will be expensive. Ten Kenyan oil pipeline welders have completed an international accredited training that will ease the skills shortage that forced the country to ship in Chinese, Nigerian and Lebanese welders. Kenya Trains Welders to Replace Chinese Workers on Oil ...https://allafrica.com › stories May 17, 2018 — The plan comes amid skills shortages in the sector that recently pushed the country to ship in about 50 Chinese, Nigerians and Lebanese workers . “Unlike conventional welding which is widely practised, this is a highly specialised form of welding that is done on petroleum pipelines. For a long time, Kenya has only had three qualified pipelines welders, all employees of KPC,” he said. PROVERBZ: |
Those are prefabs or housing? Dont compare Zoo with Kenya Kenya we have functioning immigration. Those Indians will not get that many work permits. PROVERBZ: |
Liz sacks the Ghanian-British finance minister -that was fast! https://www.nytimes.com/2022/10/14/world/europe/kwasi-kwarteng-uk-chancellor-tax.html The Ghanian-Briton had taken British the small island that was formerly the greatest nation to IMF ![]() LONDON — Britain’s beleaguered chancellor of the Exchequer, Kwasi Kwarteng, was fired on Friday as Prime Minister Liz Truss prepared to announce a large-scale retreat over a package of unfunded tax cuts that have rattled financial markets, causing a political crisis that has threatened her survival. Mr. Kwarteng’s departure came after he made a premature return to London from International Monetary Fund meetings in Washington, adding to speculation that a severe loss of confidence among investors that has weakened the pound and that raised borrowing costs would force the government into an imminent reversal of its flagship economic policy. |
How is it my chart. obaaderemi: |
We are doing exactly that. We already have 100 percent primary to secondary transition - a dream for the zoo. Now we are moving to TIVET - enrollment has risen from 150k to nearly half a million. And now with Ruto on board we will push total enrolment to 4 million. In kenya now TIVET student get higher education loans and grants like university students. The national government has invested massively in the Technical and Vocational Education and Training (TVET) sector escalating students’ enrollment to these institutions by over[b] 600 per cent since 2013.[/b] The shift from university education to vocational training is happening. https://www.businessdailyafrica.com/bd/economy/public-university-enrolment-dips-for-first-time-in-three-years-3805878 Enrolment at public universities dipped for the first time in three years in a period that saw the intake at technical colleges offering diploma and certificate courses increase 22 percent. Official data shows that students joining public universities for undergraduate degrees dropped for the first time in three years to 448,482 in the year to June from 452, 089. obaaderemi: |
Togo gdp is 7B dollars. Benin 15B. Despite not being landlocked in middle of nowhere like Rwanda. Kagame has done great. obaaderemi: |
So total enrollment is a million plus. I find that hard to believe. But you're on the right track if it\s true. You need to push to a million graduands annually; then you can start talking industrialization. Kazikazi: |
German colonies were ended early - after they lost WWW I or 2. They were handed to French and British. Let not split hairs - your speciality. Rwanda and Burundi doesnt have diamond or gold like Botswana or OIL like Nigeria. They are classic hopeless countries who got almost the worst deal. Landlocked, small, in middle of nowhere, zero natural resources, and lots of conflicts. It's akin to you going to your farm - in middle of nowhere - and carving a country. Kagame is turning Rwanda into a switzerland. Burundi remain Burundi..bottom if not near bottom and almost hopeless. Somalia with largest coastline - large population - need 5yrs to turn their fortunes around...Burundi need a Kagame. obaaderemi: |
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