This makes sense. And the clarification from CS Mucheru is very welcome. I'd also add that Helios is a well healed Fund and they wouldn't be putting investors' money if they didn't think they could get a return on it. One of the more successful investments they made in the country was in Equity Bank. Ali Hussein Principal Hussein & Associates +254 0713 601113 Twitter: @AliHKassim Skype: abu-jomo LinkedIn: http://ke.linkedin.com/in/alihkassim "Discovery consists in seeing what everyone else has seen and thinking what no one else has thought". ~ Albert Szent-Györgyi Sent from my iPad
On 12 Jun 2016, at 11:49 PM, Joseph Mucheru via kictanet <kictanet@lists.kictanet.or.ke> wrote:
John,
We spent 2/- (two kenya shillings) to get an extra 10% shareholding and 40% of the debt TKL owes. Whether TKL is able to recover remains to be seen (Am optimistic it will and so are Helios). Key point is we have given the company a chance to improve its fortunes. You are right we should be divesting but not a loss.
thanks
On Sun, Jun 12, 2016 at 11:00 PM, John Kieti <jkieti@gmail.com> wrote: Good summary Martin and thanks CS for clarification.
I may have missed the news so am wondering if anyone can explain the move by Government to invest further in Telkom Kenya. I thought we were divesting from Telcos so the increased cash outlay to Telkom Kenya came as a surprise.
Best.
On Sun, Jun 12, 2016 at 4:33 PM, Joseph Mucheru via kictanet <kictanet@lists.kictanet.or.ke> wrote: Hi Martin,
I have two clarifications for you.
1: Laptop project got the full allocation, we used some of the 17bn this financial year (15/16) hence the balance in 16/17 is less.
2: We bought an extra 10% shareholding in TKL for Kes 1/- and further we bought 40% of the debt TKL owed orange (about Kes 30bn) for another kes 1/-. Meaning in the TKL balance sheet, they owe GoK about 12bn. 40% of the 30bn shareholder loan. Balance is owed to Jamuhuru Holdings which is 100% owned by Helios Fund III
Thanks
On Jun 10, 2016 8:19 AM, "Martin Gicheru via kictanet" <kictanet@lists.kictanet.or.ke> wrote: What does the 2016 Kenya budget have for the ICT sector? Here is what we picked.
Regards, Martin Gicheru
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