McMaridodeCel

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.

💯 And NIS rats like Ombeta, Orengo, Havi and Soweto.

TWITTER FOLKS WHO ARE EMOTIONAL ABOUT MY LAST TWEET, MJIDISHI! KASONGO HAS UN-ALIVED WAY TOO MANY INNOCENT KENYANS, SO COUNT ME OUT WHEN HE’S “CELEBRATING HIS KIDS” HIM & HIS ENTIRE LINEAGE DESERVE NOTHING BUT THE WORST! MAY THE CURSE UPON HIM RUN TO HIS THIRD FOURTH AND FIFTH GENERATION!