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Uhuru bans NSSF from trading in NSE
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mwana
#1 Posted : Thursday, June 11, 2009 11:59:00 PM
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Joined: 6/4/2007
Posts: 35
I am not a finance guru,but If i heard right from KTN,uhuru has stopped NSSF from trading in NSE shares.

http://www.youtube.com/w...mp;feature=channel_page

How will this affect NSE? Isn't a lot of NSE money from NSSF. Does this mean NSSF will dump all its shares?
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murenj
#2 Posted : Friday, June 12, 2009 4:08:00 AM
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Joined: 7/22/2008
Posts: 851
Location: nairobi
Nssf has been mia For some time. If they plan to off load,then it will be gradual.status quo remains

Guka killer.
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Mainat
#3 Posted : Friday, June 12, 2009 4:16:00 AM
Rank: Veteran


Joined: 11/21/2006
Posts: 1,590
He didn't even mention NSSF. The only changes directly impacting NSE are:
-Confirmed that brokers and ibs have to have 50m and 250m in capital
-halved the listing fee
-brokers and ibs and all others that take cash from us NSE investors will have to take out indemnity insurance. I really like that idea as it should mean full coverage for investor money.

Banks will also be allowed to do branchless baanking. I think this is to cover mobile and e-banking.


www.mjengakenya.blogspot.com
Sehemu ndio nyumba
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Donedeal
#4 Posted : Friday, June 12, 2009 6:05:00 AM
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Joined: 1/13/2009
Posts: 60
NSSF will be required to comply with the RBA Act and channel its funds through 6 (six) fund managers who were competively sourced last year to invest on her (?) behalf.



May we live in interesting times!
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Obi 1 Kanobi
#5 Posted : Friday, June 12, 2009 1:24:00 PM
Rank: Elder


Joined: 7/23/2008
Posts: 3,017
I think its as donedeal puts it,they will now be required to do it properly

I guess if you can't win with facts,you can always pen bile-laced,xenophobic rants to distract everyone.
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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smano
#6 Posted : Monday, June 15, 2009 6:22:00 AM
Rank: Elder


Joined: 12/13/2006
Posts: 2,589
Actually if I'm not wrong he did mention that all new contributions to NSSF,once budget is passed,will only be invested in t-bills and bonds,so past contributions remain as they are but new ones are subject to that directive

smano
BEER IS LIVING PROOF THAT GOD LOVES US AND WANTS US TO BE HAPPY!
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Goals
#7 Posted : Monday, June 15, 2009 1:30:00 PM
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Joined: 10/6/2008
Posts: 118
There are no ammendments to RBA Act that on contributions. The Act talks of maxm hence the trustees can still invest in NSE. The finance bill is already in the website. Am i missing something.




'Build your own dreams,
or someone else will hire you to build their's!'

- Author Unknown
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