Safaricom: Largest IPO in Sub-Saharan Africa’s History
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The brokers and the millions of dollars in fee’s that they’ll collect from this IPO.
The government (the MP’s will finally be able to get their huge salaries from the proceeds of this IPO).
The vast sea of Kenya’s poor (sorry, your not going to see very much of this money especially after the government gets it’s hands on it; they have to pay themselves first).
Michael Jospeh’s: He will now endure the pressures that come with running a public company. Instead of having just a few bosses, he’ll now have to contend with having hundreds and thousands of bosses, who’ll all be watching that stock price.
This company continues to amaze. The IPO raised $800 million dollars. That’s a whole lot of mucha-cha.
So, what do you think? Who were the biggest winners and who do you think were the biggest losers?
I’ll try and answer my own questions:
Biggest Winners:
Biggest Losers:
Feel free to continue to list…..
count among the winners all major media houses (esp daily nation). for 2 weeks now the papers have been full of safaricom related ads – refund ads, thankyou ads, stockbroker ads ad infinitum
other winners are the printers ,who’ll print 1 million prospectus copies and the Postal corporation who’ll ship them out.(it cost kengen 20million just for stamps)
a last winner is the country’s image. see the story at http://www.economist.com
cant come up with more losers, but the 30 million plus citizens ought to be enough for now!
fellow bloggers, there’s a blogger by the name lostwhitekenyan.blogspot.com who’s written a post about Obama which has made me unhappy. Check out her post titled “Over here its all about Barry” and tell her what you think. Thanks
Annon:
I just read the post from lost white kenyan and I agree with everything she had to say. She’s spot on.
Luo’s need to get away from this “group” think idolization of so called “leaders”. Barrack Obama becoming president will not increase the ugali on their plates. However, having said that, I do hope that Obama wins and I think this is true of every black person on the planet. It would be an astounding historical political feat if Obama wins, but credit for that will not go to Obama’s father (who essentially abandoned him) – the credit for the man Obama is today goes to his mzungu mother and his mzungu grand-parents who raised him.
http://lostwhitekenyan.blogspo.....rocks.html
KE:
I too just read the post from Lost White Kenyan chick and like you, I do agree w/ her observations/commentry.
I just find it ridiculous that there are those that still believe in a monetary “trickle down effect” or handouts/whatever. Though I understand we need some major civic education starting at the very bottom of our society/communities. We talk about “corruption” at the highest levels, but this mentality of handouts is just as corrosive I think.
Having read 2 of Obama’s books, he does give minimal credit to his father largely though for the fact that he was by design/function. But it’s true, his father basically left the family for whatever reasons and so I’m a bit perplexed with this “Luo” factor that’s now getting a big splash in the headlines. And how he will now raise a community so far away to much greatness should he win in November. Uhm, whatever.
Ok, now what was the original blog? Oh yeah, the Safaricom IPO. Just like many recent IPO offerings in Kenya, I don’t have much faith in them. The “common” mwanainchi continues to remain at the bottom of that totem pole – kama kawaida.
Another thought, if Obama was a high-ranking/majorly profiled low-life/criminal/vagabond/good-for-nothing sorta fella, would he still be getting as much publicity/acclaim for his “ethnic” background? Just wondering.
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Safaricom’s IPO over-subscription is a classical case of the pent-up desire of Africans to demonstrate their appreciation for worthy investment. Telco businesses are the most profitable in African continent, even with the huge CAPEX, the average margin per user is relatively high compared to the world’s average. Africans will like to put their money where their mouth or voice is because each call they make is a call of wealth