Plse lets hear more opinions on this issue. I heard one opinion that in the vent local investors are unable to raise funding, we could allow the foreing investor get in at 100% ownership on condition that they offload 20% to local investors within 3-5years. Is this workable? Yet another opinion was that local investors do have the funds - its just NOT structured i.e. well consolidated and cordinated. I think this may also be true if the recent Safaricom IPO is anything to go by. So it looks like we do have the funds for ICT investments while at the same time we dont! Where is the catch, bottleneck? How could this be resolved? walu. --- On Fri, 10/17/08, bitange@jambo.co.ke <bitange@jambo.co.ke> wrote:
From: bitange@jambo.co.ke <bitange@jambo.co.ke> Subject: What should the Investment Policy Be? To: jwalu@yahoo.com Cc: bitange@jambo.co.ke, "KICTAnet ICT Policy Discussions" <kictanet@lists.kictanet.or.ke> Date: Friday, October 17, 2008, 11:22 AM Dear Listers, A number of you have written to me off-list seeking to know the organizations that have sought excemption from the 20% local equity partcipation.
These are four of the World's largets call centers and two ICT equipment manufacturers. They have said very clearly that they do not want to go through what some of the investors in telecoms sector went through or are going through. By this they mean local "Investors" who fail to raise their part of the bargain. We failed thrice to get the SNO simply because our local investors could not live up to their promises (Vtel, Reliance etc). This is an annormally in the current policy that does not allow the investor to seek for another local investor in the event of a disagreement in the first marriage (Do not read Econet since law is never applied retrospectively).
Any progressive policy would give a chance to other people instead of forcing investors to stay in a marriage that does not bear fruit. You recall in past meeting we have called for such investments to seek for partnership at the stock exchange. This would mean then that the current policy is changed to allow that in the event there is a disagreement, the foreign investor can seek for a nother partner or better go to the stock market.
My responsibility among others is to ensure that we achieve vision 2030 objectives as presicribed in the vision. In order to achieve the targets, especially of getting at least 50,000 youth into BPO sector in the next three years, we must get these bigies. This is what Ireland, India and Philipines did.
Regards
Ndemo.
Hey Folks,
I have lurked in the background for a while and like Wainaina I got a bit lost in the exchanges. But I think one fundamental thread in all this - despite the muddy exchanges - is the question of how do want to engage with Foreign Investors? JM and others may have a point here - despite their strong language.
So maybe to bring benefit out of all these, we could indulge for a day or two on the Policy we want as far as Foreign Direct Investments (FDI) into our ICT industry are concerned.
Correct me if am wrong but I believe the Government position/policy on this has been that the Foreign investor MUST incorporate a local investor at minimum ratio 20%(local) to 80%(foreign) ownership/equity. I think the members who feel that this should be changed have cases/examples where the local equity/investor failed to come up with their 20% capital and so the opportunity for investment disappears. On the other hand, other members feel that local investors are abundantly rich and can come up with even over 50% of any capital/equity required to invest in the industry.
I honestly dont know which side is right and which one is wrong - but what I do know is that there exists cases where the local investors have failed to meet their capital requirements - hence the need to review or interrogate whether this policy is detrimental or indeed beneficial to our industry.
Plse lets have objective comments that are devoid of personal attacks and we shall make progress. Otherwise we begin to sound like a broken record.
walu.
--- On Thu, 10/16/08, gachuhi anthony <gachuhi.anthony@gmail.com> wrote:
From: gachuhi anthony <gachuhi.anthony@gmail.com> Subject: Re: [kictanet] PS Ndemo, ECONET Scandal aand Vested Interests To: jwalu@yahoo.com Cc: "KICTAnet ICT Policy Discussions" <kictanet@lists.kictanet.or.ke> Date: Thursday, October 16, 2008, 8:16 AM Moderator Is there a way off having an online poll to know where we stand maybe from there we may be able to know who is for or against the policies being discussed. Then we can give reasons as I don't think this a list to decide who is more kenyan than the other its about what will affect us all Tony
Dear all,
What is the desired outcome of this very energised
On 10/16/08, Wainaina Mungai <wainaina@madeinkenya.org> wrote: thread? (Select one)
A: That the PS (I&C) announce that
open, transparent and consultative manner. He also must organise a forum to kickstart non-emotive talks by mid-November.
B: That PS Ndemo resigns and is replaced with a person of your choice.
C: That the Econet licence, Kencall licence and related MoUs, contracts signed by PS (I&C) be cancelled.
D: That all stakeholders Govt., KICTANET, KIF, CA, etc organise an "ICT Investment" policy forum to be held in Nairobi around mid- November 2008.
I hope this shall help us focus on defining and achieving a common goal so that we desist from personal attacks on integrity, racial profiling and so on...
Good day, Wainaina
On 10/16/08, Joseph Manthi <jmanthi@gmail.com> wrote:
Edith,There are some useful lessons - but
1. How to give away your national
entities just because they say they can not do any business with local entrepreneurs. In fact I know this for a fact, you would never get a license to operate in UAE if this was your argument. Further to this lesson I would like to point to these additional countries that would laugh you out of town if you made that argument - US (some businesses
Defense, Telecommunications (not ISP), Radio & TV), India, Singapore, Malaysia, Taiwan, Hong Kong, China, the whole of Middle East, South Africa, Japan (especially Japan)
2. How not be conned. Kenya seems to
When a man approaches a woman, it would be a very stupid woman, who knowing what a man is capable of, to accept the BS that
And if she does then she deserves what she gets. Kenya will get what it deserves and very soon. A good example is Russia and its
the Forbes Richest.
3. Great leadership is necessary to grow a country. A leadership with intestinal fortitude to say no under
4. That the local mwananchi can invest in
growth
5. That a great nation looks upon its diaspora to grow it - a la Israel and India
6. That a great nation does not wait to be raped twice - We seem to be following a process that will guarantee our raping despite how Kenyan some members of this committee think they are. Its just a matter of time before they pick up their bags and leave. I really do not
national planner I should be putting my eggs in
Joe
On Wed, Oct 15, 2008 at 4:55 PM,
<eadera@idrc.or.ke> wrote:
Anyone has taken the time to
Dubai's tremendous growth? (U.A.E in general). There are some useful lessons!
> >---- Original Message ---- >From: j.maina@ymail.com >To: eadera@idrc.or.ke >Subject: Re: [kictanet] Fwd: PS Ndemo, ECONET Scandal aand Vested >Interests >Date: Wed, 15 Oct 2008 09:03:50 -0700 (PDT) > >>Lizette >> >>I think that you have racially inclined your mind. >> >>When did KENCALL directors become Kenyans? After getting good >friends to bribe their way to
>the money the so called investors are using are Kenyan money not >money from foreign banks. >> >>They have come and borrowed from Kenyan banks. How much does the >most profitable telecomms companies leave in this country, very small >amount. We have Telecomms companies which are on their marks. They >have very inferior systems and dont actually deliver in service but >make billions and run away with
>> >>Dada Lizette, we know that
>coloured and all but know that I am a mixed race Kenyan and really >sad when our brotehrs have to suffer because of bad policies from >people like PS >> >>JM >> >> >> >>----- Original Message ---- >>From: Lizette Kraft <lfkraft@gmail.com> >>To: j.maina@ymail.com >>Cc: KICTAnet ICT Policy Discussions <kictanet@lists.kictanet.or.ke> >>Sent: Tuesday, October 14, 2008 1:52:07 PM >>Subject: [kictanet] Fwd: PS Ndemo, ECONET Scandal aand Vested >Interests >> >> >>Just my two pennies worth here. >> >>Kenya is not an Island that it can survive on its own even through >local investment. Most times we dont have
>though about the Government and banks not supporting local investors >with loans etc. They must start giving
>local expertise and turn them in money making ventures, if only they >wouldn't fleece their own companies. Even America, the giant needs >investors!!! You all have a valid
>interests of Kenya and its people first and foremost. Not just self >interest for the few. And by the way Kenyans come in all shapes, >sizes, COLOURS, and creed. So
>and who is not!!! Kencall
>outsiders if I understand correctly. When we are taxed whether >individually or coorporately, the money is used for Kenya and Kenyans >and not for outsiders who invested! Forcing local partnership in >foreign owned companies has >> its negative and positive effects. >>This needs to be look at more seriously to make it a win-win >situation. It has been known in
>forced local partnership have been subjected to threats and >intimidation by the local
>fare share, (given to them mind you). Thus
policies shall be developed in an these lessons do not include: treasures - like bandwidth - to foreign like Airline, Military and heading there with its eyes opened. the man is feeding her. oligarchs - all members of pressure. Top to bottom, their own country and manage its think that as a that basket. thoroughly study the secret behind this country. And let me tell you that the billions. there are Kenyans who are white, black the funds. I do agree them the opportunity to setup point but use it for the best please don't generalise who is kenyan directors and owners are Kenyan and not the past that foreign investors with partners when they wanted more than their the weariness o
>>of being forced now. This does not attract any investor. But the >foreigners should not fleece the country either! >> >>Let us have some constructive critisism without being racially >inclined. Fight to make things right no matter what but without >pinpointing nationalities or
colours of >> people. >> >>> >> >> >>> >> >> >>> >> >> >>> >> >> >>> >>On 10/7/08, John Maina >> <j.maina@ymail.com> wrote: >> >>> >> >>http://www.wananchiforums.com/showthread.php?p=3150#poest3150 >> >>> >> >> >>> >> >>_______________________________________________ >> >>> >>kictanet mailing list >> >>> >>kictanet@lists.kictanet.or.ke >> >>> >> >>http://lists.kictanet.or.ke/mailman/listinfo/kictanet >> >>> >> >> >>> >>This message was sent to: >> lfkraft@gmail.com >> >>> >>Unsubscribe or change your options at >> >>> >> >http://lists.kictanet.or.ke/mailman/options/kictanet/lfkraft%40gmail. >> >>> >com >> >>> >> >> >>> >> >> >>> >> >> >>> >> >> >>> >>-- >> >>> >>Lizette Kraft >> >>> >>P.O. Box 18488, 00500 >> >>> >>Nairobi, Kenya >> >>> >>Cell: 0722-800362 >> >>> >> >> >>> >> >> >>> >> >> >>> >> >>> >> >>> >> >>> >> _______________________________________________ >> >>> kictanet mailing list >> >>> kictanet@lists.kictanet.or.ke >> >>> >> http://lists.kictanet.or.ke/mailman/listinfo/kictanet >> >>> >> >>> This message was sent to: jmanthi@gmail.com >> >>> Unsubscribe or change your options at >> >>> >> http://lists.kictanet.or.ke/mailman/options/kictanet/jmanthi%40gmail.com >> >>> >> >> >> >> >> >> >> >> -- >> >> Joseph Manthi >> >> CEO >> >> MEO Ltd >> >> http://www.meoltd.com >> >> >> > >> > -- >> > Sent from my mobile device >> > >> > Made in Kenya Network >> > Apt. B-8, Elite Park >> > Ole Odume Road >> > P. O. Box 72031 - 00200 >> > Nairobi. Kenya >> > Tel: +254-20-3590451 >> > Cel: +254-722-811171 >> > Cel: +254-735-370840 >> > www.madeinkenya.org >> > >> > http://www.bungesms.com >> > >> > _______________________________________________ >> > kictanet mailing list >> > kictanet@lists.kictanet.or.ke >> > http://lists.kictanet.or.ke/mailman/listinfo/kictanet >> > >> > This message was sent to: gachuhi.anthony@gmail.com >> > Unsubscribe or change your options at >> > >> http://lists.kictanet.or.ke/mailman/options/kictanet/gachuhi.anthony%40gmail.com >> > >> >> -- >> Sent from Gmail for mobile | mobile.google.com >> >> _______________________________________________ >> kictanet mailing list >> kictanet@lists.kictanet.or.ke >> http://lists.kictanet.or.ke/mailman/listinfo/kictanet >> >> This message was sent to: jwalu@yahoo.com >> Unsubscribe or change your options at >> http://lists.kictanet.or.ke/mailman/options/kictanet/jwalu%40yahoo.com > > > > > _______________________________________________ > kictanet mailing list > kictanet@lists.kictanet.or.ke > http://lists.kictanet.or.ke/mailman/listinfo/kictanet > > This message was sent to: bitange@jambo.co.ke > Unsubscribe or change your options at > http://lists.kictanet.or.ke/mailman/options/kictanet/bitange%40jambo.co.ke > > ---------------------------------------------- > This message has been scanned for viruses and > dangerous content by Jambo MailScanner, and is > believed to be clean. > --------------------------------------------- > "easy access to the world" > >
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