Hi John, So far I think that we are looking at this from a very one-sided perspective. One of the very important services that a regulator ought to provide is a way of stakeholders feeding information *into* the agency.

what kind of data or content they would wish to access on Regulator's websites

doesn't really cut it - I would rephrase this question to ask: "What kind of data or content they would with to access on Regulator's websites and/or what kind of data or content they would wish to submit via Regulator's websites" I hope I'm making sense - regulator's are not just a source of information - they are also a conduit and a destination. Regards, Brian On Oct 15, 2007, at 6:37 AM, John Walubengo wrote:

Morning all,

Hoping you had a good Idd festival and weekend. Over the last week we reviewed the role of the converged Regulator, reviewed the internet opportunities and threats for e-Regulators and established the typical customer for Regulators as including:

Consumers Telco Operators Postal & Courier Operators Internet/Application Service Providers (ISP/ASP) Media (Print & Broadcasting) Assosciations Public (individual) etc?

Today we want to figure out what kind of data or content they would wish to access on Regulator's websites. It would be nice if each group of customers would list their top three items they would like the Regulator to avail electronically - even if it means in a password restricted manner. So please, lets have the wish-lists coming in.

walu.

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On 10/15/07, John Walubengo <jwalu@yahoo.com> wrote:

keep thinking outside the box and contribute.

In the spirit of thinking out of the box, you will see this conspiracy theory that is developing that when capital market regulators attempt to digitize the way of getting information through the internet and websites, users still don't understand the relevance. The lesson emerging is that regulators (CCK, CMA) etc need to support the business case on their websites to help businesses they have licensed grow. The extract below from today's Business Daily explains the attempted conspiracy theory which is a result of linkage breaking between regulators and the businesses they license. Vendors defend move to sell market data http://www.bdafrica.com/index.php?option=com_content&task=view&id=3635&Itemid=5812 October 15 2007: When the Nairobi Stock Exchange closed its auditorium on Monday apparently to facilitate renovations, investors who normally follow trading from the room read mischief. They saw some uncanny coincidence between the closure and the licensing of six companies to sell market-generated information to investors. After the noise generated by the development died out, the users of the facility argued the closure was meant to create more business opportunities for the data vendors. Stung by the conspiracy theory, NSE chairman Jimnah Mbaru, rescinded the decision to lock out the investors, saying they would be accommodated even as the renovations went on. The concerns raised by the investors point to the low value placed on market information by the public, technocrats in the public service and some in corporate Kenya where the greatest source of information is word of mouth, probably because it is free. That explains why despite having an opportunity to pore through market statistics from the comfort of their desk tops by subscribing to a data vending service, investors will opt to be physically present at the bourse. Data vendors say there is a misconception of exactly what they do with many perceiving that they just sell raw data, which is distributed by the NSE for free and published in the print and electronic media on a daily and weekly basis. This perception has made investors not see why they should pay about Sh6,000 annually to use the proposed service, ensuring access to live stream as well as historical data. Data vending services are the latest phenomena in the Capital Markets with the six players having come on to the scene just three months ago after paying a licence fee of Sh170,000 (US $ 2500) to the NSE. Aly-Khan Satchu of Rich Management Limited, says data vending is "info-mediary", arguing that "the information is a valuable currency like the dollar which helps in better decision making." "It saves both time and money to the investor as previously they had to continuously check with their brokers on the goings on at the stock market," adds Robert Bitengo Maoga Chief Executive of Eight Limited, another data vendor. These benefits have, however, tended to be more discernible to people in far flung areas like Meru, Nakuru, Eldoret and Kisumu because the NSE is in Nairobi. There are, however, plans to expand to the regions through technology. Mr Bildad Kagai, the managing director of MediaCorp Limited said there was need for investor education on the need for interpretation of streamed data. Though many retail investors want live streaming of data and information, few neither understand it nor put it to use. "We have realised that potential clients are having a problem understanding the live data we stream," said Mr Kagai. The live data has three main boards: Normal, Prompt and Odd boards. An Investor can tell the number of shares of the listed companies being sold and what is available for sale. Retail investors form the largest base of subscribers to the live data with an annual subscription of Sh6,000. Some corporate clients are interested in the research and historical data available in digitised form for an annual subscription of between Sh15, 000 and Sh20,000. But, Satchu said, the long term investor is not so much concerned with "the random walk of prices" which are the daily stock prices appearing on data vendors websites. "Our work is to digest the volumes of publicly available data in order to arrive at useful precise points to gauge a company by just browsing a page or two of accurate analysis," says Kagai. Nonetheless, investors say they pay the NSE Levy to get services including the live information displayed on the auditorium board. -- Bildad Kagai MD - MediaCorp Limited Nairobi Stock Exchange [NSE] - Authorised Information Vendor Suite B2 Tetu Apartments StateHouse Avenue P. O. Box 20311-00200 Tel. 254 20 272 8332 Fax. Rendered Obsolete URL. www.mediacorpafrica.com --

On 10/15/07, Brian Longwe <brian@isisweb.nl> wrote:

Stung by the conspiracy theory, NSE chairman Jimnah Mbaru, rescinded

the decision to lock out the investors, saying they would be

accommodated even as the renovations went on.

...

There seems to be a huge corporate governance issue here. How does the Chairman decide to rescind the CEO's decision - and then publicly do so?

I believe it was a protocol thingie...the Chairman was in London when the directive was issued by the CEO...but when the decision was rescinded, he was back in town and procedurally he was the one to make the announcement...and in his absence the CEO....but what intrigues me is that the regulator can set the ball rolling for you and when public pressure mounts, your business is brought to a halt because the licensed business 'practice and procedure' guidelines are not posted in the public domain [read..regulators' websites] for businesses to thrive and be protected. -- -- Bildad Kagai MD - MediaCorp Limited Nairobi Stock Exchange [NSE] - Authorised Information Vendor Suite B2 Tetu Apartments StateHouse Avenue P. O. Box 20311-00200 Tel. 254 20 272 8332 Fax. Rendered Obsolete URL. www.mediacorpafrica.com --

On 10/15/07, Brian Longwe <brian@isisweb.nl> wrote:

I repeat - we have a problem with corporate governance in our NSE.

That I agree chief....but to me, the challenge is deeper than that and actually falls within the parameters of this discussion...Look at it this way... 1. The regulator still insists on hard copy registration to open a CDSC account. I agree this has value but there is no effort by the regulator in digitising this procedure. 2. Pundits are estimating that may be 3-4 million new investors might be attracted by Safaricom IPO with a significant number from what you might call the base of the pyramid...meaning they do not have bank accounts. Will these guys be forced to have bank accounts as a pre-requisite to participation, getting paid their dividends etc...when the regulators are completely silent on mobile money being heralded today by mobile phone operators?? I think when discussing e-content expected from regulators, it should be 'all encompassing' and malleable enough to change to the new technology that is being adopted and being embraced fully by the public. Its a whole new world out there...waiting to be opened... Bill

Hi Bill, Thanks for this informative input. Personally I think that the fault rests squarely with the Capital Markets Authority. It is their responsibility to ensure that the public are aware of the various ways in which they can interact with the market. On a recently concluded trip to India a group of our stockbrokers found that in the deep, rural areas - many were familiar with trading via futures and derivatives; Prospectus for latest IPO were available next to tomatos and onions in kiosks; and villagers had been given simplified laptops in order to monitor, access and even trade in their portfolios. Upon enquiry the brokers were informed that the capital markets authority in India has already carried out 400 seminars/workshops across all parts of India to inform people about the benefits of trading via the exchange market. My question: besides colorful brochures what concrete actions are our regulators taking to ensure that every citizen is aware of their rights, privileges and what services are available to them. Regards, Brian On Oct 15, 2007, at 11:54 AM, Bill Kagai wrote:

On 10/15/07, John Walubengo <jwalu@yahoo.com> wrote:

...

keep thinking outside the box and contribute.

In the spirit of thinking out of the box, you will see this conspiracy theory that is developing that when capital market regulators attempt to digitize the way of getting information through the internet and websites, users still don't understand the relevance. The lesson emerging is that regulators (CCK, CMA) etc need to support the business case on their websites to help businesses they have licensed grow.

The extract below from today's Business Daily explains the attempted conspiracy theory which is a result of linkage breaking between regulators and the businesses they license.

Vendors defend move to sell market data http://www.bdafrica.com/index.php? option=com_content&task=view&id=3635&Itemid=5812

October 15 2007: When the Nairobi Stock Exchange closed its auditorium on Monday apparently to facilitate renovations, investors who normally follow trading from the room read mischief.

They saw some uncanny coincidence between the closure and the licensing of six companies to sell market-generated information to investors.

After the noise generated by the development died out, the users of the facility argued the closure was meant to create more business opportunities for the data vendors.

Stung by the conspiracy theory, NSE chairman Jimnah Mbaru, rescinded the decision to lock out the investors, saying they would be accommodated even as the renovations went on.

The concerns raised by the investors point to the low value placed on market information by the public, technocrats in the public service and some in corporate Kenya where the greatest source of information is word of mouth, probably because it is free.

That explains why despite having an opportunity to pore through market statistics from the comfort of their desk tops by subscribing to a data vending service, investors will opt to be physically present at the bourse.

Data vendors say there is a misconception of exactly what they do with many perceiving that they just sell raw data, which is distributed by the NSE for free and published in the print and electronic media on a daily and weekly basis.

This perception has made investors not see why they should pay about Sh6,000 annually to use the proposed service, ensuring access to live stream as well as historical data.

Data vending services are the latest phenomena in the Capital Markets with the six players having come on to the scene just three months ago after paying a licence fee of Sh170,000 (US $ 2500) to the NSE.

Aly-Khan Satchu of Rich Management Limited, says data vending is "info-mediary", arguing that "the information is a valuable currency like the dollar which helps in better decision making."

"It saves both time and money to the investor as previously they had to continuously check with their brokers on the goings on at the stock market," adds Robert Bitengo Maoga Chief Executive of Eight Limited, another data vendor.

These benefits have, however, tended to be more discernible to people in far flung areas like Meru, Nakuru, Eldoret and Kisumu because the NSE is in Nairobi. There are, however, plans to expand to the regions through technology. Mr Bildad Kagai, the managing director of MediaCorp Limited said there was need for investor education on the need for interpretation of streamed data.

Though many retail investors want live streaming of data and information, few neither understand it nor put it to use.

"We have realised that potential clients are having a problem understanding the live data we stream," said Mr Kagai.

The live data has three main boards: Normal, Prompt and Odd boards. An Investor can tell the number of shares of the listed companies being sold and what is available for sale. Retail investors form the largest base of subscribers to the live data with an annual subscription of Sh6,000.

Some corporate clients are interested in the research and historical data available in digitised form for an annual subscription of between Sh15, 000 and Sh20,000.

But, Satchu said, the long term investor is not so much concerned with "the random walk of prices" which are the daily stock prices appearing on data vendors websites.

"Our work is to digest the volumes of publicly available data in order to arrive at useful precise points to gauge a company by just browsing a page or two of accurate analysis," says Kagai.

Nonetheless, investors say they pay the NSE Levy to get services including the live information displayed on the auditorium board. -- Bildad Kagai MD - MediaCorp Limited Nairobi Stock Exchange [NSE] - Authorised Information Vendor Suite B2 Tetu Apartments StateHouse Avenue P. O. Box 20311-00200 Tel. 254 20 272 8332 Fax. Rendered Obsolete URL. www.mediacorpafrica.com --

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Hi Alice, On Oct 15, 2007, at 6:07 PM, alice wrote:

...

"My question: besides colorful brochures what concrete actions are our regulators taking to ensure that every citizen is aware of their rights, privileges and what services are available to them. Regards Brian"

The CCK recently unveiled the CCK service chatter that sets public expectations Re: dealing with the Commission and its staff interchangeably called the "The Customer Service Charter " it outlines rights and responsibilities and the procedure to follow if CCK service standards are not met. available at www.cck.go.ke

This is excellent - but how will this help my grandma in shags - how does she find out that there's a website? How does she find out that she actually has certain rights as a telecoms consumer? How does she know what avenues to take to set up a rural ISP? Where I'm heading to - and I hoped that this came out of the example I gave of the Indian CMA - is something called OUTREACH. To what extent do our regulatory authorities reach out to the technologically, geographically and financially challenged? I know I'm straying from the e-content discussion but I think it's a good tangent. Maybe we need to think outside the box and come up with creative ways of getting this e-content right into the hands of the consumers. Maybe an E-Book with lots of pictures and sounds to help the layperson come to grips with the often abstract and confusing concepts that plague regulatory authorities? Brian

Hi Brian, Once we have found ways to reach Grandma and now she knows...how do we make the sites user friendly? in response to your last sentence.....would wizards help...like complaint wizards (with drop down menus where possible?). One challenge will always be awareness of channels of information, points of access, effective utilization, correct recepient of complaint ( service provider or regulator) and another will also have to be monitoring of response - did one's issue/request etc get responded to when and by who and what about escalation?. In terms of eContent Coverage of the service providers, tarriffs, subscriber base (market share) - combined and by region (provinces as well?), intended footprint over next 6 months, regional partnerships and their footprints as well. Customer service points region wide Links to service provider websites (?) some kind of service related poll a Blog or two? I heard someone call them eDiscussion logs (!) Fatma

Hi Alice,

On Oct 15, 2007, at 6:07 PM, alice wrote:

...

...

"My question: besides colorful brochures what concrete actions are our regulators taking to ensure that every citizen is aware of their rights, privileges and what services are available to them. Regards Brian"

The CCK recently unveiled the CCK service chatter that sets public expectations Re: dealing with the Commission and its staff interchangeably called the "The Customer Service Charter " it outlines rights and responsibilities and the procedure to follow if CCK service standards are not met. available at www.cck.go.ke

This is excellent - but how will this help my grandma in shags - how does she find out that there's a website? How does she find out that she actually has certain rights as a telecoms consumer? How does she know what avenues to take to set up a rural ISP?

Where I'm heading to - and I hoped that this came out of the example I gave of the Indian CMA - is something called OUTREACH. To what extent do our regulatory authorities reach out to the technologically, geographically and financially challenged?

I know I'm straying from the e-content discussion but I think it's a good tangent.

Maybe we need to think outside the box and come up with creative ways of getting this e-content right into the hands of the consumers.

Maybe an E-Book with lots of pictures and sounds to help the layperson come to grips with the often abstract and confusing concepts that plague regulatory authorities?

Brian

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