>>
>> "This, however, remains the quintessential question of African
>> development: how to achieve economic independence in an
>> international and regional context where the profit motives of
>most
>> investors and lenders rarely correspond to our growth and
>> development goals."
>>
>> We simply cannot achieve economic independence when over 80
>percent
>> of the economy is in the hands of foreigners more so non
>Africans
>> and PS Ndemo now wants to eliminate indigenous ownership
>> requirements. Local ownership requirements did not deter the
>> credible and serious Zain's, Vodafone's, France Telecom's,
>Altech's
>> of this world from coming into Kenya. Has PS Ndemo forgotten
>that
>> Kenya's FDI in the last year rose by over 1300 percent?
>>
>> Is it fair that some local individuals could use multiple
>separate
>> companies in which they have substantial shareholding so as to
>> maximize their effective share of TEAMS while other legitimate
>> local and international investors are locked out? These and
>other
>> criteria (total beneficial ownership etc) need to be looked at
>and
>> analysed to get to the core of the matter.
>>
>> It is a pity that PS Ndemo seems to believe that it is a bad
>thing
>> when Peterson asks the Government to listen to local investors
>and
>> take their interests into consideration while striking a balance
>in
>> the same way he listens to foreign investors and makes arbitrary
>> non-consultative policy changes just because the Nesbitt's of
>this
>> world (who already have a tax holiday) have already arm twisted
>him
>> behind closed doors into submission. We want these unnamed
>vested
>> interests to take their case to the Kenyan public and to stop
>> coercing public servants behind closed doors, if they can
>convince
>> the public openly that what they need is good for Kenya then the
>> public through their representatives will effect such changes
>> openly and transparently.
>>
>> As for the other matters, they don't require endorsement or
>> agreement, the facts stand on their own, they are facts anyone
>can
>> verify by going to the High Court registrar, providing the case
>> number and obtaining the same documents and rulings. The near
>> collapse and disrespect of our institutions is as a result of
>the
>> permeation and embrace of a culture of impunity. If these
>> institutions were respected by among others, PS Ndemo, it would
>not
>> be an issue affecting the nation.
>>
>> I challenge anyone with any contradicting documents to dispute
>the
>> facts by presenting the same rather than attempting to
>assassinate
>> the messenger for blowing the whistle.
>>
>> Have a good weekend.
>>
>> Regards,
>>
>> Peterson
>>
>> On Fri, 10 Oct 2008 15:38:36 +0000 "Eric M.K Osiakwan"
>> <
emko@internetresearch.com.gh> wrote:
>> >Dear Peterson,
>> >
>> >I go with you on the wheel that the vested interest of the
>country
>> >in
>> >paramount.....
>> >
>> >The elements of my case though disappointing, i went with the
>> >established criteria since was applied across board but then in
>> >the
>> >situation where most of the local companies are majority owned
>by
>> >non-
>> >Africans, then one needs to look into the criteria again.
>> >
>> >The larger question, we need to raise is how do we ensure that
>the
>> >
>> >interest of other African investors can be unheld in another
>> >African
>> >jurisdiction, in the context of developing Africa by Africans.
>You
>> >
>> >know the TEAMS process is still ongoing so lets allow the
>> >establish
>> >procedures and policies to work, am patient and dont have any
>hard
>> >
>> >feelings at all.
>> >
>> >The other big question that we need to answer is, these huge
>> >infrastructure projects require huge sums of money, personally
>am
>> >not
>> >a deep pocket in that sense but at least i can raise the money,
>> >may
>> >be from another African country or worse case outside the
>> >continent
>> >if the amounts are way over. The TEAMS model where public funds
>> >are
>> >used to underwrite the risk in order to ensure that the entry
>> >barriers for investment are minimised so local investors and
>> >entrepreneurs can participate are innovative and i personally
>want
>> >to
>> >give the TEAMS model a chance to succeed. We as Africans need
>to
>> >evolve solutions to our unique problems, ofcourse borrowing in
>> >same
>> >cases from others who have gone ahead.
>> >
>> >Unfortunately, i would have to distant myself from some of the
>> >allegations though you establish them on factual basis, it
>would
>> >be
>> >good for the right authorities to follow it through so that we
>> >have
>> >conclusive situations. Also, those involved must be given a
>chance
>> >to
>> >present their side of the argument so that those in this forum
>can
>> >be
>> >more knowledgable. Again, if we can keep it tactful, then the
>> >common
>> >good is preserved for the sake of posterity.
>> >
>> >Have a good weekend, good people.
>> >
>> >
>> >
>> >On 10 Oct 2008, at 20:16,
mwananchi@hushmail.com wrote:
>> >
>> >> Dear Eric,
>> >>
>> >> At the end of the day, Kenyans only want the best for our
>> >nation.
>> >> Kenyans certainly are not against beneficial foreign direct
>> >> investment and welcome it provided it is conducted under
>> >policies
>> >> that result in a win-win situation for Kenyans and the
>investor.
>> >> Unfortunately the country's policies particularly those being
>> >> fronted now do not reflect that wish, which is why it is
>> >important
>> >> that the Government pay attention to what local and would be
>> >> international investors are saying and strike a balance that
>is
>> >a
>> >> win-win for both.
>> >>
>> >> In your case, had PS Ndemo stuck with his proposal that he
>made
>> >in
>> >> 2007, Internet Research would not be experiencing any
>hurdles.
>> >The
>> >> local component would also have been preserved in a manner
>not
>> >> detrimental to your company.
>> >>
>> >> I hope that PS Ndemo will address the issue of your company.
>> >Kenya
>> >> as an African country should not be deterring Kenyan or any
>> >other
>> >> African investors who are credible and who operate and
>respect
>> >our
>> >> laws and institutions instead of trampling them underfoot and
>in
>> >> the one case that has been mentioned, deliberately failing to
>> >meet
>> >> their obligations for over 4 years. These are the same types
>of
>> >> investors who have been rejected by Altech, the nations of
>Papua
>> >> New Guinea, Malawi, Nigeria. The same characters who failed
>to
>> >meet
>> >> their licence obligations for years in New Zealand and were
>> >lucky
>> >> to get token percentage ownership of what was left when
>credible
>> >> investors took over and who in Lesotho have been engaged in
>tax
>> >and
>> >> roaming link frauds.
>> >>
>> >>
http://rapidshare.com/files/152715858/fraud_in_lesotho.pdf
>> >>
>> >> They finally found a safe haven to land in Kenya embraced by
>a
>> >> culture of impunity where it does not matter if you meet your
>> >> obligations or if you operate with cancelled licences
>provided
>> >> powerful vested interests pave and coerce the way for you.
>> >>
>> >> When we reject investors whom we know such as Eric and
>embrace
>> >> undesirable investors instead, it shows why we precisely are
>> >> lagging behind in FDI. Indeed if Kenya gave investors 5 years
>as
>> >it
>> >> did in this particular case to pay licencing fees, the
>country
>> >> would be overwhelmed with numerous investors. As the
>occassion
>> >of
>> >> Moi Day graces us today, the Moi government despite its many
>> >flaws
>> >> was quick to realize what type of animal this was and
>correctly
>> >> rejected them not just once but twice.
>> >>
>> >> Peterson
>> >>
>> >> On Fri, 10 Oct 2008 03:31:48 +0000 "Eric M.K Osiakwan"
>> >> <
emko@internetresearch.com.gh> wrote:
>> >>> Dear Peterson,
>> >>>
>> >>> Thanks for establishing a set of facts and am sure the right
>> >>> people
>> >>> would respond to the issues you have riased. I hope the
>> >discussion
>> >>>
>> >>> would continue on a factual basis and not degenerate.
>> >>>
>> >>> I want to also present one set of facts regarding my
>> >participation
>> >>> in
>> >>> the TEAMS project. My company, Internet Research went
>through
>> >the
>> >>>
>> >>> entire process and indeed qualified to be allocated shares
>but
>> >at
>> >>> one
>> >>> of the proposed shareholders meeting, the issue of local
>> >ownership
>> >>>
>> >>> came up.
>> >>>
>>
>> --
>> Learn from the comfort of your home. Choose your degree and
>receive a free
>> info pak.
>>
>>
>
http://tagline.hushmail.com/fc/Ioyw6h4eS5zglpKiYQ1E4QV7ya3V7OQilSPt
>QZA6nTe5QdbJulIxcO/
>>
>>
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