Bill, 

V good points.let me ask you how much of the 280 billion that was oversubscribed for Safaricom was local, Kenyan money? Can Kenyans afford to invest (and therefore control) businesses both in and out of Kenya? Yes! But do they? No! 

Everybody goes running after the Safaricoms when the "outsiders" are investing (and taking bigger risk) in tomorrows Unilever.

I know of deals that are being closed right now worth several million dollars with "foreign" investors for businesss that have been round the block locally several times and couldn't even get the time of day from some of our local financiers.

I say its time for us to put *our* money where our mouth is.

Al's point is unshakeable, if you own it you control it. Let us find out ways in which we can own without undermining or destroying our markets (e.g Mugabe)

Brian

Sent from my iPhone

On 14 Jul 2008, at 8:36 PM, "Bill Kagai" <billkagai@gmail.com> wrote:

On Mon, Jul 14, 2008 at 7:57 PM, <alkags@alkags.com> wrote:

I wonder if protectionist policies would enhance our global competitiveness as a country in the larger scheme of things?

Alkags,
I have written too much (today), but kindly indulge me with this one last post I could not resist because it harbours on what I do for a living - information vending ;-)

You know about Unilver Tea. Basic stats look like this...and another reason why you should subscribe to MediaCorp services

NSE Sector	Agricultural
Company	Unilever Tea
Code	UNLV
Year Of	1925
Year of Listing	1972
Issued Shares	48,875,000.00
Share Float	11
All Time Low	36.00
All Time High	130.00
Market Capitalisation (Million)	2.26B
Par Value
Top 10 Shareholders	Name	%
Shareholder1	Brooke Bond Group Ltd. -	88.23
Shareholder2	Board of Trustees Of NSSF	2.94
Shareholder3	KCB Staff Pension	0.52
Shareholder4	UAP Provincial Insurance	0.33
Shareholder5	Old mutual life Ass	0.29
Shareholder6	BBK Nominees	0.27
Shareholder7	Co-op Bank Kenya	0.22
Shareholder8	BBK Nominees	0.22
Shareholder9	xxxx
Shareholder10	Ins Co. of East Africa	0.17
Top10Total Shares		93.37
Profit Before Tax (Year)	[Million]	Profit After Tax (Year)	[Million]
2000	410.00	2000	450.00
2001	420.00	2001	220.00
2002	415.00	2002	130.00
2003	400.00	2003	60.00
2004	450.00	2004	370.00
2005	100.00	2005	70.00
2006	100.00	2006	60.00
2007		2007
Earning Per Share	Kshs	Dividend PayOut	Kshs
2000	9.20	2000	6.00
2001	4.60	2001	2.00
2002	2.50	2002	2.50
2003	1.30	2003	6.00
2004	7.40	2004	8.00
2005	1.40	2005	2.00
2006	1.10	2006	2.00
2007		2007
P/E Ratio
Bankers	Barclay bank of Kenya,Citibank NA,Cooperative Bank
Registrars	Cooperative Bank Registrars

My point
Foreigners hold 88% of the company and thus in a position to make board decisions regardless of the African investors thinking after all..they holding only 12%. Some investors bought into this company at more than kshs 100 and when it ceased trading, shares were moving in the 40-45 range. The shares will be called back because the foreigners agenda is different and there intention is not to make money for the local investors. [Country of origin and Fair trade issues]. The local investors including NSSF, KCB pensioners and many more Wanjikus have been screwed.

RVR is coming next.

Joe is therefore really not far from the point...if Unilever lesson is anything to go by. We need a unified approach ...If you want to do business in Kenya...get Kenyan partner...is simply not enough...

We need to get Kenyans in decision making positions also.

PS. Regarding Flo's kind request to facilitate...
Ownership of the process is what is critical. Locals should not only drive but own and ultimately be responsible for the direction they take. You have done well...but maybe...as Frank Sinatra would sing...its time for MY WAY.

Ciao,
Bill

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