bankelele

• Grand Debate

  Posted: July 2, 2008, 10:29 pm by bankelele

  [EDIT – at the end of the session, members of parliament passed a motion of censure against the Minister for Finance – Amos Kimunya, MP for Kipipiri]
  
  Live on TV - all stations
  
  Is the debate to censure Finance Minister Amos Kimunya for his role in the controversial sale of the Grand Regency Hotel.
  
  Before a rather hostile opposition side, He’s just given a statement where he:
  
  - Outlined his long history as an accountant and a crusader for reforms, revenue gains and tax savings for the Kenyan people numerous times such as with De La Rue, pending contractor bills, Safaricom, Telkom Kenya
  - On Safaricom. Mobietelea was there long before he was in government or parliament
  - On Alcazar - reputed owner of 11% in Safaricom – he says after Vodafone (K) and the Kenya government, no one else owns more than 1% of the company (after the IPO)
  - On the Grand Regency Hotel: it was sold for $45 million {~ billion shillings} in May 2008
  - The central bank made the sale and was not under duress.
  - The ministry of lands, attorney generals office, prime ministers’ office have all received various reports
  - More info forthcoming tomorrow
  
  Safaricom IPO
  Day 18 - Deals 5,266 Turnover 439, million ($6.86) million Ave 7.29 Closing 7.25 High 7.50 Low 7.20 Last 7.30 Volume 60.3 million shares - Market still absorbing supply but its very well supported at these levels. The move higher depends on how much more de-leveraging has to be done.
  
  Day 17 - Deals 4,671 Turnover 302 million ($4.7 million) 7.35 High 7.50 Low 7.25 Last volume of 41 million shares - orderly and some sellers came off 7.50 to sell lower. Strong demand at 7.25. Remains constructive. 6.65-8.15 range.
  commentary and data courtesy of Rich.co.ke - N.S.E Data Vendor

Blah blah blah

Fish cakes

Alas a fish cake.

Yet more fish cakes

Guess what ... yeah ... fish cakes.

The end of the fish cakes