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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KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.

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John Kieti
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The ordinary just won't do

Joseph Mucheru M.B.S

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