Nationalist || Historian || KUMI BILA BREAK 🇰🇪
Kenya
Joined July 2012
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D I K E M B E retweeted
Kenyans have to admit that Dangote is the only reason they are seeing value in KPC. You called it overvalued, you said the price was fixed. You complained that pension money was used to hold the bag. You laughed when Mbadi was crying that we scared foreign investors
Kenya Pipeline Company (KPC) shares jump as much as 9.93% to KSh 9.96 in Thursday morning trading.
Follows Aliko Dangote's confirmation of a 24.76% stake acquisition and plans for a $1.5 Bn (KSh 194.8 Bn) pipeline expansion.
The great betrayal.
Mark Nyamita: We only realized Uhuru was not working for us when we saw the things that Ruto is doing. Uhuru was working for other regions. We realized that Uhuru was hoodwinking us all the while #JKLive
The judiciary under Uhuru used to slap student activists with sh2million bail.
D I K E M B E retweeted
Mutura economist @NdindiNyoro must appreciate that Dangote is not your average extortion racket customer. This is hard nosed capitalist who has faced tougher cartels than the ones you prime for in your latest clever by half rantings.
Initially you told us KPC shares were over priced & would soon crumble at the market.
You also argued that the privatisation exercise was a sham as it ended up with other public entities buying GOK stake.
A few short months later, typical of your cerebral inconsistency, you have changed tune.
If the shares were overpriced at 9.0, what's the fuss with Aliko buying them at 9.36? A cool 1.6 Billion Kenya shillings in PROFIT to the public entities in barely six months ...still you want us to believe it's a bad deal.?
Crazy cartels, who lie with a straight face to sustain primitive anger as they seek to incite.
The lies may excite the ignorant but in the end the FACTS of the matter will still stand out.
Primitive tribalists hate President Ruto for making public amenities serve the broader developmental goals of Kenya. KUMI BILA BREAK!
Random Thoughts on Dangote… it’s just crony capitalism, what’s the big deal?
1. Why are people wailing about the KPC Dangote sale without specifying what provision of law the sale may have contravened?
2. The shares were offered to the public but we never bought, protesting they were overpriced, now that Dangote bought the overpriced shares, we are suddenly whining? We should be happy we got a good price.
3. The only grievance is that our increased NSSF statutory deductions may have been used to warehouse the shares awaiting Dangote, but that’s just crony capitalism, which is the order to the day.
4. Ironically, the founding fathers and sons of crony capitalism are wailing the loudest? Yet when Uhuru sold Telkom and bought it back at a loss to the Kenyan people they were quiet? At least KPC is putting money into our public coffers, the Telkom shenanigans defrauded us. 🤷🏽♂️
ACHIENG’ ONEKO was warned that he was being played by the hyenas but he didn’t listen.
As a Luo, the colonial government told him he would be wasted in a worthless pursuit.
They told him the government was in custody of information of extensive OATHING by the Kikuyu, which focused solely on a narrow ethno-nationalist agenda.
Independence was coming but independence meant different things to different people. To the group around Kenyatta, Kubai and Karumba, independence meant power passing to the kikuyu.
For Oneko, it meant an African self-rule. It meant a future government of the Kenya Africans.
The second to be arrested on the same day Jomo Kenyatta was arrested in 1952, Oneko would spend nearly 9 years in colonial detention.
Later when the warnings by the colonial govt came to pass, Kenyatta again whisked him back to detention, where he would spend another six years. He ended up wasting 15 years of his life during which time his father died, his mother died, his first wife fell into depression and became a mad woman; his children wasted away and his entire family became social anathemas.
Luo participation in maumau was a costly blunder that still burdens the Luo community to date. There were mistakes made between 1950 and 1969.
The Luo society which emerged in the 1940s and had been led chiefly by B.A Ohanga was a moderate society in support of a multiracial Kenyan society.
The Odinga era from the mid-1950s came with extreme radicalism, forcing Luos to start pursuing so called “freedom” and “self-rule” and “independence”; none of which materialized for the Luo.
Whereas the Luos of the 1920s could educate their children, producing the earlier professors of Kenya, B.A Ogots etc; after independence, stagnation and decay became the new reality.
Achieng Oneko should be celebrated by the Kikuyus more than the Luo.
He fought in their war and gave them power. They used that power to advance and treat the same Luo allies as the worst enemies.
The 15 years Oneko wasted pale in comparison to the near 60 years that the Luo society has wasted. The years the locusts ate.
Sadly, even today, we still have other Onekos amidst us who have learnt NOTHING from history. They will be played and left to waste away.
The rest of the Luo society has learnt a very painful lesson and must not repeat the mistakes of Oneko, Odede, Jaramogi, Mboya, Kodhek etc.
D I K E M B E retweeted
The reconstruction of the Migori River Bridge by the Kenya National Highways Authority (KeNHA) is restoring a vital link along the Kisii–Migori–Isebania (A1) highway.
The original structure succumbed to the combined strain of severe historical flooding and the heavy loads of commercial cargo, disrupting transport and trade along the Kenya–Tanzania corridor.
The bridge is being built wider and stronger to accommodate growing traffic volumes and Migori's expanding urban economy.
The State Department for Internal Security and National Administration will continue supporting road safety and security coordination along this critical trade route, helping protect road users, facilitate cross-border commerce and sustain the safe movement of people and goods.
Marginalization is ending. In another 7yrs a lot of the structural encumbrances will be done away with. This is why the primitive tribalists and their allies are jittery. 😬 ✌🏿
Mark Nyamita: The investment in education since independence has been biased, so that certain regions have been discriminated against and marginalized. When we have not had electricity, others can study at night; others can’t. The exposure is completely different. The truth is that other communities have not been good businessmen because they have been denied that opportunity; that is exclusion #JKLive
D I K E M B E retweeted
This propaganda story doesn’t survive contact with the numbers.
Let’s straight do the math on the 4.5bn shares:
Bought: KES 9.00 per share
Sold (implied): ~KES 9.44 per share
Capital gain: +KES 0.44 → ~KES 1.98bn
Missed dividend: –KES 0.32 → –KES 1.44bn
Net before fees: +KES 0.12 → ~KES 540m
NSE-listed share gains are tax-exempt. So the price premium already more than covers the dividend the sellers gave up.
Rock Investment Bank (sell side) let’s assume earned a negotiated commission. On a block this size, realistic rates are 0.5–0.75%.
At 0.5% that’s ~KES 212m. After that the funds are roughly flat to slightly positive.
Either way, a few hundred million either side of zero on a KES 40bn+ position held for ~7 months.
That is time-value and transaction cost. It is NOT a material loss. It is NOT a soft loan. It is not evidence that a Ruto-linked vehicle extracted value from pensioners.
Public institutions and pension funds bought into the KPC IPO at KES 9. That gave the listing size and confidence. This to me was crucial for the markets.
Months later, after the Lamu refinery deal advanced, Dangote’s company bought ~25% in one block.
The funds sold. Dangote got the pipeline stake he needs for product distribution. Straight commercial sequence.
The legitimate questions are transparency (exact Dangote entity, full seller list, whether sales were directed) and governance of public funds.
Those are real.
The “sold at a loss so someone connected to the President could profit” version is not supported by the arithmetic or the public record.
You are stupid and stupidity is your business…
As always, DYOR.
KPC SHARES AND THE MYSTERY INVESTOR: The other week, I was suspended from Parliament for stating the obvious. That the Kenya Pipeline IPO was a failure, subscription being below 3% at the last day of the IPO. And that President William Ruto called the CEOs of NSSF, PSSF, Unclaimed Assets, CPF, and others to risk Pensioners savings against professional advise.
These are the facts:
1. The President called the CEOs to buy KPC shares against the advice from their own professionals. They had to forge minutes of Board meetings and backdate them. All of them are liable.
2. He again called them last week instructing them to sell the shares to a “Private Investor”.
3. They have cumulatively sold 4.5 Billion shares netting approximately Ksh 42Bn. NSSF is yet to exit fully.
4. The exit price was between Ksh 9.02 to Ksh 9.36. The share were sold cum dividend so that the “Private Investor” maximizes benefits.
5. Accounting for brokerage commission that is usually around 1.5%, the entities sold shares at a loss. The loss widens if you account for time value for money. Even fixing the money in the bank could have earned pensioners much more.
6. The so called Private investor is a company that President William Ruto has private interests in. He is among the “Private Foreign Investors”. In other words he took a soft loan from your pensions, you made a loss but he is making money from it.
7. The Investment Bank that handled the transaction is also owned by him. A newly licensed Investment Bank.
8. The transaction is part of fulfilling the conditions Precedent of the Lamu Refinery. The transaction is closely related to the refinery.
9. More KPC shares will be transferred from the Public entities to the so called Private investors.
10. This completes William Ruto’s personal interests in Oil from Upstream (where he is firmly involved in Turkana oil), Mid Stream (As a shareholder of the Refinery) and Downstream (G - G and other oil
Marketers).
The details of the Investment agreement between Dangote East Africa Petroleum Refinery and Kenya would shock everyone.
1. Why is the shareholders register a secret - Because the minority shareholders are led by the President of Kenya.
2. Why is the Investment agreement a secret - because the content is pure abdication of duty and patronage. Among the conditions is that Kenya willl NOT import any products made by the refinery even when the prices are double or triple the market price.
We are African and Africa is our Business..
When 70-% of the problems have been taken care of by the national govt, all you got to do is put cabros in the villages. Good job 👍🏿
Fatso, when Uhuru was constructing a cow pen as an ‘international stadium’ in Kisumu, did you ask “searching questions”?
WHAT WAS UHURU DOING WITH OUR MONEY?
99% of water budget in 2003 went to murima, when that grandmother voter rigger Karua was Minister for Water. 💦
And then makachietha bloggers @Disembe @gabrieloguda @Broadbasedgal @therealantoh @DrDennisOuma will cheer and talk about entitlement.