Telkom Kenya: The New Form of Colonization
There’s an article in BD Africa this week about the staff changes at Telkom Kenya ever since France Telecom bought a 51% stake in the company. To make a long story short, most of the Kenyan managers at the company are now being replaced by expatriates.
This story caught my attention because it was in stark contrast to what I’ve been reading about for foreign owned firms in India. If you read about firms in India that are jointly owned by foreigners, you will never see the foreigners behaving like this because the Indians have been very strict about protecting their citizens rights of ownership. If you look at most of these firms, you will see that their companies always have an Indian face to them and that the power always remains in the Indians hands (not in the hands of the foreigners). In many ways, I’ve come to admire this sense of confidence that the Indians have consistently displayed. No foreigner is going to push them around in their own country and if you want to do business with them, you’ll have to do it on their terms. They don’t bow down to anyone and they don’t worship the mzungu.
I’ve always wondered why Kenyans haven’t been able to acquire this same level of confidence. Why would a government allow a French company to buy a majority stake in a firm and then allow that foreign firm to come into your country and just push your citizen-workers around like a bunch of colonized subjects.
When it comes to government parastatals, which are really owned by the taxpayers of Kenya, the government should insist (like the Indians), that Kenyan citizens remain in charge and in control. You can’ t allow foreigners to come in to your country and send your citizens to the unemployment line!
The Indians would never allow themselves to be pushed around like this and do you think the French would ever allow Kenyans to go into their country and start firing French citizens?
The governments job is to protect it’s citizens, especially when you are dealing with taxpayer owned companies.
KE,
Obviously the french would not allow a discrimination of people ….
I think when a company owns more than half of a public company … I think they pretty much have the right to choose member of the board of directors… and the ceo… who in turn choses the team he wants to work with…
At the levels where the company its more sensitive… The company employs people who have the same vision they have… But on the small jobs… they can hire anybody…
So far the French company is just sticking to the Public company laws which don’t bar them from hiring expatriates.. I don’t think this is a bad policy….
As long as they provide the needed quality and quantity of service and don’t discriminate…
********************************
I know this doesn’t sound right but…. It is known that when you hire too many Kenyans to manage your business… The business will go down…
This is not me saying this.. A friend of mine told me this once.. I’m just guessing the French are already aware of this…
Look even Safaricom is run by a Jungu… Wait until a Kenyan is given that spot..
**************************
What happened to Joe ?…. I’m still waiting for an update on his Millions….. AND…
His friends who own property in Nairobi….
That must be one of your less-inspired (I am holding my tongue) posts.
1) The French got an over-bloated organisation. They need to cut costs & staff.
2) CEOs need people they can work with & I doubt private firms like government employees (Telkom was 100% govt owned).
3) Corruption – We do not know the real reason for the sackings but Kenyan employees (esp in govt controlled firms) are notorious for being corrupt. So were these crooks caught with the hands in the cookie jar?
4) SafCon’s top staff are expats. The CEO (Michael Joseph), the current & former CFO (who is still with SafCon).
5) KQ’s top 3 (CEO, CFO & TD) are nominated by KLM. The ertswhile CFO was a foreigner. The current Technical Director is a foreigner as is the COO. Why? QUALITY & EXPERIENCE. BTW, KQ has remained one of the few profitable airlines.
KE: How would you feel if you were replaced by an American just coz you were not one? (BTW, my gut tells me you are an American citizen).
Telkom France owns 51% of Telkom Kenya. Unless they screw up, they can employ who they want. Kenyans who ran the firm were hacks & lost the Kenyan taxpayer billions year in year out!
KE
Indians worship Mzungu – period.
They especially worship the British.
I live with them, work with them – I know.
I understand the predicament the French must have had to deal with. Kenya’s first telecommunication company has an overbloated workshop, is as ineffective and efficient as any public company can be.
My friend who works there was telling me the last layoffs done at the company were very tribal so when the French saw what they were left with in terms of talent, they realized they had lost the good guys and been left with the bad guys.
I think if you owned 51% of a company and your aim is to reduce losses and revolutionalize a company then you can do your hiring as best as you can. KE it is not a secret that Kenyan workers can be entrusted to do that especially with all the corruption and tribalism that goes on. i would worried if they started replacing service men, but managers i am not worried.
sorry i meant workforce
KeiO: Kwani, your relative – or you – got sacked by the French?
Shiroh: For some reason KE missed her usual insights on this one. If I owned 51% (heck, even 1%) of Telkom… I would do the same if I could. Government (esp GoK) employees are among the worst anywhere in Kenya.
As is there is a need for sophisticated & knowledgeable employees NOT book-keepers & janitors.
Look at the idiots at Kenya Pipeline Company. Why? Coz they are inept & corrupt. At the minimum!!!
Look at the Kes 68 million being paid to the idiots at ECK for 22 commissioners. Let them sue! Of course, kibz is happy coz he gets to stay (& scam) for 5 more years.
This bending over backwards to please foreign investors is going to leave many Kenyans redundant. It’s not just Telkom, even Laico Regency saw many local employees being sent home.
To put it delicately, this bending over has probably meant that those responsible for selling Kenya to the Chinese, French, Lybians and Qatari’s probably don’t even see what devastating effect their fire sale on Kenyan assets has had. Probably they bent so far that their heads are now stuck in their ….. (fill in the gaps here)!
coldtusker:
I knew this would be your response because you are always willing to defend foreign, private, “business” people, no matter what.
However, I am arguing that selling Telkom for 51% (which gave the French) a majority stake, was in itself stupid. Why? because the government should have known that giving away 51% of a TAX PAYER OWNED entity was going to result in a very real reduction in their power and I am saying that for the sake of the taxpayers, the government should have maintained it’s power and it’s majority stake in the company because that company belongs to the kenyan people. Sell the French 40% of the company, but don’t be stupid and give up your power!
There is another important point I want to make about this general issue and it is that Kenya needs to stop relying on foreigners for everything. I think it’s important for a country to develop it’s own home grown talent and you can’t do this, if you keep pushing your own citizens out.
This is why I used the example of the Indians. At some point, a country has to begin to believe in itself, believe in it’s abilities and nurture it’s own citizens.
Isn’t this one of the main problems in Africa? we’ve been relying on foreigners for so long that we’ve never really learnt how to do things ourselves. That can’t be good for the future. We have to learn how to run our own countries!
Obama. Yes. We. Can. Hope and change we can believe in. Yes, yes
** look at what’s happening to Dubai. As the economy slides, many of the foreigners, who made up 90% of that country’s working population are leaving — now who is going to take over from them if the citizens of Dubai have not been trained to do that work?
Link:
http://www.nytimes.com/2009/02.....038;st=cse
KE,
You seem to have stayed too long in the west and you miss the point that is being addressed here by the finance minister…
Giving 51% was not a bad idea. In fact giving them this stake… just says that they will shoulder more of the risks which are getting tricky in a more competitive Kenyan communication market..
This post just shows you level of ignorance… From the way you are comparing Kenya and India and U.A.E.. You are missing the point…. I’m still wondering why you want the french to own 40%.. obviously you still want political appointments by the government by giving this assertion.
With the level of poor management in Kenya. Privatization is the best way of moving forward… Let the market decide(laissez faire)… Are you a socialist or communist.. since I’m beginning to doubt your policy strategies ?
After Zain was given a communication license….. It became obvious that the government with its poor management could not survive what it was facing.. They have brought a lot of money to Kenya they just need to avoid poor management … From the article you posted… It is obvious that they needed people who have a certain level of experience and skills…. Bringing in expatriates with more experience and skill is good for the country… Since this will inject much needed Ideas and innovation in a system that was plagued by lack of creativity….
With the fibre optic coming… This new company will have all necessary tools to deliver faster Internet to Kenyans..
From this post I will give you a C-minus… In being a prudent politician !!
Obambla:
A C-? sigh.
Anyway, like I said previously, you guys are operating under the assumption that capitalism always operates efficiently and honestly — and no amount of regulation should exist to control it or stop it. The current global economic crisis should have provided enough evidence to debunk this idea that unbridled capitalism always works.
And I still maintain that my comparisons to India and Dubai were apt. In one case, you have a country that woke up from it’s slump, realized that it had to change and did it by recognizing, rewarding and encouraging it’s own home grown talent.
In another country, you have an over reliance on expatriate labor, which is now posing a problem for a country that failed to nurture it’s own home grown talent.
My basic premise here is that history has shown that a country’s development must come from it’s own people. If an entire country believes that all of it’s people are stupid and incapable of any achievement, how will it ever succeed?
It’s not all about encouraging blind capitalism and laissez-faire policies. You need a balance and that balance should come from the government working to develop it’s own citizens.
It all comes back to this idea that at some point, a country has to start producing and if you believe that you are too stupid to do anything, then you’ll never learn how to produce and without that, the economy won’t really develop.
KE:
LOL… Get serious. Are you smoking something stronger than the usual cigs?
Address the issues that I list so we can have a sensible discussion.
1) Govt owned vs private: It is clear-cut. Yes, I will ALWAYS support private over public in ‘business’ matters. Period. I believe in free markets. Show me 5 successful government controlled firms.
2) (Old) Telkom FAILED miserably. It was a dump for relatives of politicians. It should have been privatised much earlier. What is wrong with privatisation if it benefits the country?
3) Fiona: Laico GRH sale was a scam. Read my blog. I have said that Laico should have been sold TRANSPARENTLY to the highest bidder. Foreign or local. Why subsidise the failures?
4) Telkom France was NOT given 51% of TK. It was SOLD to them in a bidding process. TF scored the the highest overall technical & financial score. What is wrong with that?
5) 99% of government entities are FAILURES since they are used by politicians as golden geese. And the Kenya government still kills the golden geese. Have you heard of Kenya Pipeline Company? (Hint: Read my blog. I called KPC’s bluff long before the Kenyan media caught on).
6) KQ was a run-down firm until KLM came in. KLM has effective control. KQ is now among Africa’s top 5 (profits) airlines even with all the challenges it faces. Thanks to KQ (not KAA) Nairobi status as a hub has grown substantially. S.African Airways is government owned & they are losing money up the yazoo.
7) Kenyans need to LEARN from the expats. The Indians are far ahead of Kenyans in the IT & Engineering fields. The pool to choose from is much larger for foreign firms doing business in India. Furthermore, many of the managers in India are/were NRIs.
(Note Safaricom aggresively recruits NRKs with engineering skills in the USA & UK. TF is French & I doubt there are many NRK telcom engineers in France)
KE,
I’m also wondering why you see this as a problem ?
I Agree with COLD TUSKER. If I were the one who bought Telkom Kenya and inherited it’s problems and employees, you best believe alot of people would be sent home.
AS CT Puts it, I agree that it’s a totally different culture between employees who’re used to working for a corrupt parastatal like KPTC / Telkom Kenya and a company that is profit and results driven.
KE I feel your blurring the line between Nationalistic and Capitalistic ideals / ideas / concerns.
Countries that are sucessful MUST OPEN UP their economies to let the best people run them .
I’m with Kei O on this one about Indians worshiping the mzungu. The only differnce is that firms in india have had a relatively longer history in opening up their economy, thus more time for the local indians to learn from the mzungu and thus move up.
I’m sure Telkom Kenya French management just wanted to have people who shared their vision and were “more like them in thought and process” By this I’m not implying they wanted white people, NO, Just people who had background and could relate to the company’s strategy.
KE You Know in Kenya basic business cocncepts like customer service are foreign, or rather their idea of customer service is not what a manager from the west is used to.
I don’t see no wrong in these guys bringing in expats to fill these positions.But give kenya another couple of years, 5-10, when the fiber has landed and people get more familiar with the operations of technology based companies, then you’ll start seeing kenyans running shit, even at the CEO Level.
Actually, Those french guys have taken long to implement their startegy, I’d have done it earlier
U must be on drugs.
Capitalism might not be the best but for all the others!!!
Kenya has excessive amounts of CORRUPTION for any meaningful government interference.
I had predicted the entry of NCPB would lead to scams in the maize sector. Vindicated.
I had predicted that KPC was behind the fuel shortages. Vindicated.
CT:
I don’t know why you think I’m on drugs. nope. I’ve never been able to smoke either.
Why do people think that this fiber optic cable is going to produce miracles? If as you all have said, kenya is too corrupt and the kenyan people are too stupid, then unless the mzungu comes in, nothing will happen.
Mzeiya:
Why would anyone dilute their power?
What exactly are you people saying?
1)that the government is too corrupt to function properly, but foreigners, who do business within that corrupt system are inculcated from this corruption?
2) or are you saying that without the corruption, kenyans might be able to do it.
3) or that even if there was no corruption, kenyans are still too stupid to do anything on their own.
I’m not against privatizing these firms. They do need to become more efficient. I’m just wondering when kenyans are going to “get it” and stop this over reliance on expatriates.
I think what you guys are all saying is that we are still too stupid to do anything on our own. I will accept this conclusion and move on.
Yes we can (keep hoping for the change you can believe in to bring you the kenya you want). I fear however, that we may all be dead by the time that happens.
KE,
I’m not assuming that the government should not have regulatory bodies….. I support such initiatives….
The Issue at hand here is …. Should the government own more shares than the private sector in such companies..?
The answer is simple … No… The part that the government can play is by Having regulatory bodies … which will reign on any unfair practices towards the consumers..
I don’t mind you comparing Kenya and Dubai or India… But the comparison has to be fair…. You can’t just assume India does not have companies which hire more expatriates…. Go do your homework… If they cannot find anybody with the expertise to run the company who is Indian …. They will hire any other person who Is… at the time.. India has a bigger pool of skilled and experienced NRI ‘s than Kenya has… this is not a fair comparison !!
About the last Issue you said… about over reliance….
This is the only way to jump start a lagging Industry…. Your argument is good but you are the one who is assuming that Kenyan state officials can be trusted… History has shown otherwise.
CT
No, I do not have anything to do with Telkom and neither do my family. But France is my neighbouring country and I know how corrupt and overtly racist they can be. The French government is the most nationalistic and protectionsist in the EU. They do not even offer their own minority French citizens jobs.
French farmers have consistently opposed the removal of EU subsidies which would greatly help African farmers and by extension African economies.
I agree with KE on the wider point which you are all ducking – that Africans should take control of their own economies.
How difficult is it to understand this simple point?
And it is still true that Indians worship Mzungu. If this was not the case why are they all trying to migrate to the UK? We know India and Indians very well – so do not try to bamboozle us.
The only people who I believe do not to an extent worship Mzungu are the Japanese.
The Mzungu worships the Japanese.
Ke asked/commented as follows:
1)that the government is too corrupt to function properly, but foreigners, who do business within that corrupt system are inculcated from this corruption?
2) or are you saying that without the corruption, kenyans might be able to do it.
3) or that even if there was no corruption, kenyans are still too stupid to do anything on their own.
My answers/views:
1) YES. The government is a den of thieves. From the stolen election to maize scandals to KPC-Triton theft of $100,000,000 & counting. Most foreigners are not ‘inculcated’ in this corruption to the same level since most private firms will try to fight corruption within its ranks.
2) YES. Without the culture of corruption more Kenyans could succeed. In some cases there is a skill shortage as well BUT get rid of corruption & the cream rises to the top.
3) NO. The question is also of skill, experience & expertise. If Kenya wanted to commission a nuclear reactor, it needs foreign help e.g. French, USA, S.Africa, India, Israel…. countries that have built & run nuclear plants. Eventually Kenyan will learn how to operate them.
CT, it seems you are in the grip of the same disease that has recently allowed me to breath. The whole ‘capitalism is the only way forward’. However, if you look at the impact of privatization on africa, you will agree that things are much worse now (after privatization) than they were during Kenyatta’s time when gova took care of most things. The theories peddled by the IFC and WB are just that, theories. Asian countries chose to ignore a lot of the nonsense the Bretton Wood guys were spouting, and they are better off for it. We (Africans) chose to embrace their theories, and look at where we are.
Briefly, what I would advocate is for government to have a greater presence (having curbed corruption, of course) in infrastructure projects and in greasing the wheels for home-grown (or at least 51% indigenous-held) enterprises.
Psyd Off: A little knowledge is dangerous.
1) It is common knowledge that the rot in independence Kenya started during kenyatta’s days. It was his ‘forgiveness’ of theft by paul ngei that set into motion unbridled theft by government employees.
2) When we talk of privatization, I mean REAL privatization. Please give me specifics of 3 failed COMPLETE & TRANSPARENT privatizations.
Since I am familiar with Kenya, I would prefer Kenyan examples.
I will give you 3 PRIVATIZATION successes:
1) KQ is Africa’s fastest growing national airline. It is among the few that have remained profitable. It has moved from a loss-making to a profitable firm. KQ is the de-facto national airline for many African countries. KLM owns 26% & has the right to nominate CEO, CFO & TD.
2) KCB is no longer controlled by the GoK. After the GoK lost (gave up) control of KCB, we have seen a huge increase in size & profitability of KCB. KCB made huge political loans during the bad days.
3) Safaricom. KPTC (‘old’ Telkom) was an inefficient firm. It took years to get service. Phone lines hardly worked. Corruption was rife. It had no more than 500,000 lines at its peak. Safaricom was part of KPTC. When Vodacom took over (they have the right to appoint the CEO & CFO) they revamped Safaricom to become Kenya’s largest firm by profitability.
There are other firms that have done very well BECAUSE they were profit-driven including EABL (which fought off SABMiller) which is now expanding into E.Africa including Uganda.
Capitalism (free-markets) allows inefficient firms to die. Public firms generally under-perform because they are bound by political forces & corruption.
True free markets & capitalism allow for EFFICIENCIES.
CT, it is even more dangerous to image you are in possession of more knowledge than you really are. Gross miscalculation. Don’t believe me? Witness the current meltdown where money you put in the bank/stock/2nd house for your retirement or for ‘equity’ gains has disappeared into thin air. Maybe we can now export all the knowledge we’ve gained from decades of western interference on how to live ‘sustainably’ right back at them?
You ask for something that doesn’t exist. Which is exactly the problem with privatization: there has not been a COMPLETE and TRANSPARENT privatization process in this here Africa. IBRD came round and told us that government wasn’t doing well on anything, so it should let the invisible hand of the market take care of things (a theory that everyone now admits only exists on pages of text books, not in reality). That invisible hand, of course, was looking to the more profitable infrastructure and telcoms sectors, thereby bankrupting government. Mozambique, and why am I even going that far when we’ve got Coast province right next door, watched as their cashewnut farming was turned to nothing. We are all still waiting for privatized railways systems to do a job half as decent as the one done when it was under full control of government. I will acknowledge, however, that our tendency to share ‘the goodies’ with our relatives has led to inefficiencies within the government system. But who tells you the private sector doesn’t have relatives to take care of? It is human nature. Anyway. It’s all the fault of our extremely thick leaders, past and present, (and we their subjects) who appear not to have the wherewithall to have an original idea, or to resist pressure of outside interference. This is our fate as africans at this point in time. Best we can do is produce kids who will survive in relative freedom (the way Palestinians do) and maybe their children’s children will see a better future.
Psyd Off:
You are confusing theories.
Free-market theory works well. Please read Josef Schumpeter’s theories & you will see that capitalism & Free markets are NOT about easy rides but disruption for the greater good.
Regarding stocks/houses… capitalism gives you a CHOICE. No-one forced you to buy your house or 2nd house or stocks! Those who bought 2nd houses for ‘equity’ gains took a risk. Risk can pay off or not.
You CANNOT blame capitalism or Free Market Theory for the lack of complete & transaprent privatizations. How about 3 successful ‘government’ firms that are not subsidized or afforded state protection?
Please use Kenyan examples coz those I can verify.
Who is this ‘everyone’ that admits that the invisible hand does not work?
How did the invisible hand bankrupt government? Which government? Please be specific.
Private sector relies on self-interest i.e. I can give to or hire my relatives BUT at my expense.
Public sector is at someone else’s expense (mali ya uma).
Corruption does exist in the private sector but in my experience at much lower levels. Why? Ultimately there is an owner/shareholder of the business who demands accountability.
The ownership of Government owned entities are nebulous. There is less accountability.
Look at KPC. Who cares? They have had high profile scandals for a decade. How many scams have you heard of at Kenol or Total or Shell?
How many scams (esp large scale) have you heard of at Barclays or StanChart? KCB & NBK loans books were decimated by bad loans.
I have asked for specifics – which I provide – but you give me none!!!
We agree Kenyan politicians are thieves. How to keep them off?
PRIVATIZE. That will keep their hands off the till. Yes, they may try other means e.g. harassment but giving them the keys to the safe is IRRESPONSIBLE.
CT:
We are simply arguing that privatization is not the end all, be all of producing a totally efficient system.
Safaricom:
The share price is suffering and we found out that michael joseph’s “conveniently” forgot to disclose huge debts that the company was carrying on it’s books. What else are they not telling us?
KCB:
Weren’t they involved in the triton scandal? who knows what’s going with them or what their links to that scandal are?
Kenol:
A company owned by Biwott that was acquired through corrupt means and that was able to operate for almost 20 years without any meaningful competition largely because of biwott’s power. So, I’m not surprised that they are “profitable” — they got a huge leg up through biwott’s connections. So, are the managers at Kenol really that brilliant? or did biwott’s connections give them an unfair advantage in the market.
KQ:
They’ve had 2 fatal accidents in less than 10 years. If they have another one, they are going to be in real trouble. I wouldn’t fly them today if I didn’t have to.
Look at the privatization process in Russia. It produced a few very rich oligarchs, but the state was left with very little in terms of it’s ability to collect taxes and use them for the greater good of the society.
This is perhaps the best example of why privatization within a corrupt system will eventually falter.
On banks giving out these strange mortgages:
Yes, people had a choice about whether or not to take these loans, but the banks were also manufacturing strange and fake products, but they were earning real bonuses based on wealth that did not exist. In other words, the entire system was a fraud, which the “market” did not correct.
The point of privatizing a parastatal is to make it more efficient. Yes. However, the benefits of that efficiency should be used on the people of kenya and not just on the shareholders of these private companies and that is why I am saying that the government should privatize to achieve efficiency, but it also has an obligation to ensure that the profits from the efficiency are used for the benefits of the people. Without majority ownership and with your dilution of power, can that ever happen?
KE
KCB Was involved in the Triton scandal as a plaintiff / victim. They funded these guys with an explicit agreement with both Triton and KPC that stated as follows ( from my understanding ):
KPC was the guarantor of the loans.
KPC was to inform KCB when Triton Sold it’s oil stocks to the market, thus KCB’s loans would be paid back.
However, as triton was in collusion with KPC, KPC never informed the bank, they released triton’s inventory but kept hush toward KCB.
So saying that KCB was involved in this corrupt deal is not being fair, they were not involved in the corruption, they were merely executing their duties as a bank in lending to businessess.
PYSED OFF
I’d also be interested in knowing which clear and transparent privatizations have failed.
It’s very evident that the kenyan gvt should focus on running kenya, not on running businesses. Honestly, look at NCPB and the maize scandal, what had happened? at the end of the day all they do is play blame game, but they’ll never be preosecuted after getting the loot.
KE
Yes the kenyan gvt is too corrupt to run any business. Kenyans are smart and learn quickly, however, there is a real alck of management skills when it gets to some levels. If you don’t eblieve me, look at the major companies in kenya right now that have a foreign element to them, from coke to others. mOST OF THEM TRY AND RECRUIT kENYANS FROM ABROAD FOR THESE SENIOR LEvel roles, coz they know they’re is a certain exposure that they’ve gotten abroad.
I know that Telkom Orange is the only real threat to safaricom so far. and yes I also Believe that the fiber cable will have a tremendous effect . ask me why ? Coz internet usage will penetrate kenya and the price will be brought down.
High speed internet will be possible in kenya and I believe this will have a multiplier effect ( for you KE who loves economics)
Kenyan govt is full of corrupt people. Private companies are profit driven, and have less theft. Because shareholders can look at books etc.
Imagine if KPC was privatised? An efficient company with qualified CEO and leaders would ultimately produce a better result. Govt appoints political cronies to head these parastatals and most are not qualified/or are corrupt.
A profit driven company ends up producing better services.
100% privatization for these parastatals is a good idea. Of course mandate 51% local ownership
KE: All your arguments are fallacious.
As mzeiya explained… KCB did not make a bad loan but there was fraud by KPC-Triton. KCB did not commit the fraud. KPC is 100% government owned. The good news for KCB is that they could put KPC into bankruptcy.
Safaricom: Share prices may not be in sync with profits. Share price does NOT always reflect the firm’s performance. What are these debts you talk of? Please post a link that shows these debts? Please put up or shut up.
KQ: Sure 2 accidents in 10 yrs but they are still profitable. And far better than the KQ of yore. Please note both accidents happened in W.Africa which is known to have among the worst airports in the world.
Kenol-Kobil: I am sure biwott used his influence to help KK but they have grown substantially since 2002.
Did KCB conduct due diligence on KPC-Triton?
Is it possible that some in KCB were in the know about the deadly risk (or even deliberate move) to lend KPC-Triton?
I am just musing………
Kei O,
Even with iron clad due dilligence, KCB would still have suffered the same fate / loss. This is coz KPC did not keep their word, they did not due their duty of informing KCB when stocks of oil were released to Triton. It wasn’t KCB’s fault, but a failure of KPC-Gvt owned as CT says to do their part due to corruption.
CT,
How is it that in kenya, business and government move in opposite directions ? gvt moves downward most of the time, yet business seems to try and innovate ?
I see the euro money conference is slated for Nairobi in March ? I still don’t understand how it would be held there with all these scandals ? Is kenay stil viewed as attractive to foreign investorship despite bad media ?
Mzeiya
Aaaahhhhhh!!! There is something you need to undrestand regarding the Euro Conference.
Western countries do not care about the corruption in Kenya so long as their companies get contracts and their banks get to keep the money.
Remember that Kibaki got a hard time from the west during his first term only because he did alot of business with the Chinese thereby depriving western companies of business. It is not because the west loves Kenyans.
Do Not Believe All The Hype About Good Governance & Democracy.
Its All About The Money.
@ Mzeiya,
Europeans don’t care about Kenya. Kenyans don’t even care about themselves. The meeting is just a front. To make it look like they’re working together.
You know I used to believe all that hype that we used to be told when we were kids ( Ati Kenya is the Richest country in the World with the best brains). But now after traveling a bit I realize that was just Rhetoric….
As the story goes, the only person who can put Kenya on a path to greatness is God.
Just a side question to you Mzeiya. What do Kenyans need to do achieve greatness and does the word greatness mean anything to Kenyans ?
YAH BOI,
Man stop makin me laugh…lol.. U actually believed those storoz of saying that kenya was #1 in everything ? Then I believe you grew up around the time when there was only one of everything in kenya, i.e. one party KANU, One TV Station, KBC/VOK (Can u imagine having only one station)
Back then MOI alikuwa baba na mama, he was everything and always number 1, do u recall he was even the chancellor of all the UNIS ?
I’m sure then Moi went spreading propaganda that Kenya too was the only one!
To answer ur question about kenya. I believe Kenya is great in every right, ordianry kenyans are hardworking and want to move ahead like everyone else, the only thing misisng in kenya is LEADERSHIP. wE DO NOT HAVE LEADERSHIP, BETTER WE HAVE BAD LEADERSHIP, BUT W EDON’T EVEN HAVE BASIC LEADERSHIP
Friends, let’s not be too harsh on ourselves.
One thing we can learn from the global crisis is that corruption, greed and incompetence is globally pervasive; some people have been faking it all along; and that all these so called “international standards” have been a mirage.
Lets discern the “fakers” from the “real deal” performers:
The international labor force (these people getting laid off in “developed” economies) are not of high quality – primarily because they are directly/indirectly responsible for the global mess. If they were such geniouses, their companies would not have sunk in ruin.
There’s something we Kenyans are doing right without these people. Look at all these Kenyan companies posting record profits for FY 08/09.. While the rest of the world squirms and gnashes!
** 99% of the workforce in all these companies is Kenyan.
** The best performing company with the highest growth rate in Africa right now is led by a Kenyan.
Bottom line: If I am hiring, I want to see a track record. It’s the most objective approach. Kenyans are excelling where others are failing. Simple common sense: Why gamble – when you have a sure shot?
I would hire Kenyan. Any day.
Maishanki:
Who knows whether those profits are real or not? Accounting has become like voodoo. They’ve created all sorts of funny rules to hide so called toxic assets and debts off a companies balance sheet.
Who knows?
Maishanki:
Who knows whether those profits are real? Accounting has become like voodoo. They’ve created all sorts of funny rules to hide so called toxic assets off a companies balance sheet.
Who knows?
Fact is, no such scandal has unravelled in Kenya (or East Africa for that matter).
When it comes right down to it, and your money’s on the line, would you pick a winner or a loser?
The chaps back home are on the winning side right now. They must have done something right!
I think I would hire a Kenyan too.
After all is said and done – I would hire a Kenyan.
Whats the use of having kenyan bosses if all they do is loot the company, pay me bad salaries then offer the public bad salaries, these Kenyans being fired should have been sent home long ago, why do we have such a short memory these are the same guys who used to have us bribe them to get a phone line; the real colonizers are you who think that they can continue to rape our institutions, shoot our sons and daughters then cry nationalists when a big brother from another land comes calling, go home fellas and dig! it is not kenyan at all to ran down any company and especially one like telkom, michael joseph by the way is not kenyan
Why is everyone afraid to state the obvious? The Kenyan workers are racist against the expats taking away their jobs. It’s no different in England, where workers are racist against the Polish expats or in America, where workers are racist against the Mexican expats. The company has a right to make money and to determine how best to accomplish that. I highly doubt France Telecom gives a hoot what colour/nationality their workers are. They’d hire green Jupitans if they would produce better results for less pay.
Guys
What do you think about the Econet Project(4th Telecom operator) Will they make a success in Kenyan market with Indianism( essar group) My friends who are working in yu network already complaining about the Top cadre. Let us discuss
Bottom line is this:
It is about having the skills and ability to undertake and excel at whatever line of work you choose, not what Nationality you are, or which country you happen to work in. If there is someone better qualified and/or with more experience they deserve the get the job.
From farming to pharmacy, we must cultivate a work ethic which will not only promote increased productivity, but also serve us for the long term.
Greed and corruption coupled with a desire for short term gain will merely erode that which we must work so hard to achieve.
If you think about it the way people are being racist, the Indians are the ones who brought this country to where it is at the moment. If a Kenyan is really put as the head of a company giving you 100% that company is falling down in less than 3 years…
The only thing that people think about is making the money right now…. not thinking about the future
If only people worked in a straight forward way things would have been better
Telkom suck like crap. Looking at the newspaper today OMG. They are going down in a big way