Hi Eric

The Kenya money market is on a bull run and the  tragedy of African lakes is long forgotten in the rush  make money in the  NSE. The government has advertised for a lead financial arranger and the EOI was closing on Nov 8 to package local funding for TEAMs. To raise the USD80 M is a done deal. Note also that the three East African stock markets have now partnered to cross list shares – thus it will be easy to raise cash for Teams across the region

 

The sweeter part is that the government is tendering for close to 4300 Km of fibre to go deep into the villages. EOI closes on Dec 15th

 

 With 2+1 submarine fibres,  3000 km national backbone fibre , 4300 km rural fibre , 500 km metropolitan rings  in under  20 months – Kenya will be the most lighted country in SSA outside South Africa!!  A leap of faith after the dark days of monopoly

Cheers

Muriuki Mureithi

 

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From: kictanet-bounces+mureithi=summitstrategies.co.ke@kictanet.or.ke [mailto:kictanet-bounces+mureithi=summitstrategies.co.ke@kictanet.or.ke] On Behalf Of Eric Osiakwan
Sent: 28 November 2006 13:49
To: mureithi@summitstrategies.co.ke
Cc: Kenya ICT Policy - kictanet; Discuss@afrispa.org
Subject: Re: [Kictanet] [Fibre-for-africa] Whats i have being talking of asa public private partnership in ownership of the criticalinfrastructur

 

Bill, thanks for the information and links - much appreciated.

 

It means that either TEAMS or EASSy has a big opportunity to change the story and status of technology stocks - another hsitoric dimension to the whole excercise.

 

May be Safaricom or TK or Wananchi would do it first but the important principle is not who makes it first but we must be sure it is DONE WELL and sets a precedent for others to follow.

 

Eric here

 

 

On 28 Nov 2006, at 16:13, Bill Kagai wrote:



 

On 11/28/06, Eric Osiakwan <eric@afrispa.org> wrote:

Was African Lakes on NSE as well or only on LSE?

 


Yeah.
African Lakes was cross-listed at the NSE in March 2000 and was branded as the first Kenyan IPO but did not live to expectations.
The company issued 4 million shares at Kshs 94.50 each and as a result secured a secondary listing in the NSE. See http://www.nse.co.ke/History.htm

The company then tried raising extra equity but that did not stop its demise leaving the 'technology companies' seriously contemplating the next direction to take in the stock market. See Issue No. 157 on balancing act. http://www.balancingact-africa.com/news/back/balancing-act_157.html

We now have Safaricom, Telkom (K) and Wananchi having indicated to test the waters soon.




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