"1,000 billionaires and many millionaires," Kenyans in Boston promised through a bank proposal are trying to understand if this is viable. “Buying a bank share of Kshs 200,000 because in 2016 it will be worth Kshs 200 million is equivalent to investing $10,000 to buy 10,000 lottery tickets for a Mega Jack Port lottery of $300 million,” are some remarks noted in this debate."The bank would have to beat all the 45 banks combined to become bigger than them in just 4 years!” Reports of 2009 by World Bank and Central Bank had all banks valued at Kshs 196.45 billion. Attorney Karanja of Boston notes, " l have gone through the website and did not see the legal advisors of this investment."
Fountain Enterprises Programme (FEP) again this year sold shares of what they envision to be the biggest bank in Kenya, 2016. FEP CEO John Kithaka said they currently have 1,310 shareholders of whom 73 of them invested Kshs 400,000 to Kshs 786,000 for 1 share of Kshs 400,000 that by 2016 will be worth Kshs 600 million. The other 1,237 shareholders he noted invested Kshs 200,000 to Kshs 463,000 for a share that will be worth Kshs 200 million. He also invited more investors to take more shares of Kshs 200,000 that will be worth Kshs 30 million, 2016. The 1,310 shareholders who have injected close to Kshs 1 billion will thus in four years be the primary capital base of the bank and are expected to have Kshs 291.2 billion in capital before the bank lists in Kenya Stock Exchange Market for them to cash their dream. The current share capital of all 45 banks of Kenya as per Central bank and World Bank report 2010 is Kshs 196.25 billion. Thus this bank will be about 1 ½ times bigger than all current 45 banks in the Share Capital. ...
“I say that tribal politics is for the Wazees... In 1963, there was no tribalism in Kenya. We were united against colonialism. Today we need to be united against poverty, disease and ignorance,” says David Karangu as he answers on the connection of Business and Politics in any society. He says, “Business is affected by politics especially when the business community is pitted against the poor, unions etc.”...
Prof Njuguna Ndung'u, Governor of Central Bank, presided over the unprecedented decline of the Kenya shilling and parliament is blaming him for this. When an economy system fails there has to be someone to blame. The person to blame is the Governor of Central Bank. However those who understand economics are asking the question: Who between the accusing Members of Parliament and the accused Governor of Central Bank is to blame? To figure out who is to blame one has to understand the work of the Governor in the shilling creation and how the shilling exchanges with other currencies, especially the dollar, during imports and exports. Understanding of monetary policy and fiscal policy can show one the main reason among many that led to a record Kshs 107 exchange to U.S $1. ...
Reading the Global Economic Prospects released by the World Bank on Sub-Saharan Africa I could only visualize the better economic days of Siaya County and Kenya as these 1950 Albert Einstein beautifully words occupied my mind: “Knowledge must continually be renewed by ceaseless effort, if it is not to be lost. It resembles a statue of marble which stands in the desert and is continually threatened with burial by the shifting sand. The hands of service must ever be at work, in order that the marble to continue to lastingly shine in the sun. To these serving hands mine shall also belong.” Reading the report and remembering these inspiring words made my hands of service go back to work to highlight the points that I picked up from report, my reflections, my dream and my call to Siaya residents and Kenyans. ...
The case for Diaspora 2012 candidates can well be summarized by the growth rates of several African countries from the World Bank report released. The report shows the northern neighbor of Kenya, Ethiopia from 2008 – 2011 to have grown Gross Domestic Product, GDP, by 10.8%, 8.8%, 10.1%, 7.7%, a total growth of 37.4%. Kenya on the other hand in the four years from 2008 to 2011 grew GDP by 1.6%, 2.6%, 5.6%, 4.3% a total of 14.1%. Other countries that showed great growth rates during 2008 – 2011 were as follows: Rwanda 11.2%, 4.1%, 7.5%, 8.8% a total of 31.6%; Uganda 8.7%, 7.2%, 6.4%, 6.3% a total of 28.6%; Tanzania 7.4%, 6.0%, 7.0%, 6.4% a total of 26.8%; Nigeria 6.0%, 7.0%, 7.8%, 7.0% in total 27.8%; Malawi 8.6%, 7.6%, 6.7%, 5.6% in total 28.5% and Ghana 8.4%, 4.7%, 6.6%, 13.6% in total 33.3%. We presented this to a few Kenyan investors, entrepreneurs and prospective candidates for elections this year and got the following remarks....
“I could only manage a 7 day plan. I landed on the 24th December and will leave on the 1st January and be in Kenya on the 2nd at exactly 2 pm,” says David Ikanyi who has in the last 2 years transformed himself to a Kenyan businessman. He today is developing his businesses in Kenya at a very fast pace. After living in the U.S. for two decades, Ikanyi decided it was time to go develop his next phase of life in Kenya. Since then he has started businesses in real estate, farming and education. “I’m in the process of opening a school next year,” he says. As the elections start to unfold I discussed with Ikanyi the way he sees Kenya today, the future, the opportunities in Kenya and the role Diaspora can play. “If elections were held today the two people who would be in the run-off are Raila and Uhuru,” he made his observation. He also noted, “The Kenyans abroad who want to become legislators and serve Kenya through posts created in the new constitution can be easily elected.”
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Doubles Xpress has opened a new money transfer location on Chandler Street, Worcester city to enable Kenyans investing in various projects in Kenya and transferring money to loved one get the best services and best value for their money. Founder Ben who is also introducing a new money transfer system that he says offers the cheapest rates during the launch noted, “If you can save even as little as $2 dollars in the transfer of money costs then you’ll have benefitted. $2 saved could mean sending more money to Kenya for an extra packet of “Unga” especially during this time when prices of food products in Kenya continue to rise.” ...
The vision 2030 was first unveiled to Kenyans attending an Atlanta Disapora Conference held in in March 2007 at Kennesaw State. Over 1,000 Kenyans in attendance would see pillars and specifically the economic advancement projecting a growth rate of 10%. This time around Kenyan business people and professionals from Atlanta attended the Diaspora Conference with the Vision 2030 taking center stage. Frank Kioko says he has played his part. After the Atlanta conference he would take the initiative of helping Kenyans open bank accounts in Kenya through Equity bank. The Diaspora Kenyans have opened accounts and made deposits in these accounts.
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Lwanga, a father of two lovely daughters has always wanted to visit Kenya with his young daughters and still be able to transact business and have some personal time. Told of Cenralized Options baby sitter service he said, “This is a great idea. At least I can employ a professional baby sitter just like I do here when the need arises. I will get to study their services and hopefully next year when I visit I will use this service.” ...
