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Kenya Sacco's 2013 Performance
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Stract_Consulting
#11 Posted : Monday, October 06, 2014 10:25:48 AM
Rank: New-farer

Joined: 6/3/2014
Posts: 58
Location: Nairobi
bird_man wrote:
Stract_Consulting wrote:
murchr wrote:

51% deal for Merali Bank put on hold


The issue of the Ministry of Industrialization and Enterprise Development raising issues of corporate governance on Equitorial Commercial Bank seems to be strange, as the bank is supervised by Central Bank of Kenya.

Otherwise the issue of seeking regulatory approval from both the Ministry and SASRA should have been done by Mwalimu.

Could anyone know who the transactional advisers for this deal are?


They didnt get approval from the Ministry or Sasra.This is simply an attempt to fleece teachers off their money.Mwalimu has enough money to go it alone in setting up a bank.Why buy ECB?A bank that I knew one year ago was having liquidity issues?Why the funny movements of an employee who is clearly creating conflict of interest?
You make deals with Meralli,he wins big,you lose big.Simple.


See a comparison of the financials of Mwalimu SACCO and Equatorial Bank here

See also Business daily article on the reason behind Merali's divestiture from the bank
Be ignorant and ask a few questions - Peter Drucker
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murchr
#12 Posted : Monday, October 20, 2014 6:34:33 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Stract_Consulting wrote:
bird_man wrote:
Stract_Consulting wrote:
murchr wrote:

51% deal for Merali Bank put on hold


The issue of the Ministry of Industrialization and Enterprise Development raising issues of corporate governance on Equitorial Commercial Bank seems to be strange, as the bank is supervised by Central Bank of Kenya.

Otherwise the issue of seeking regulatory approval from both the Ministry and SASRA should have been done by Mwalimu.

Could anyone know who the transactional advisers for this deal are?


They didnt get approval from the Ministry or Sasra.This is simply an attempt to fleece teachers off their money.Mwalimu has enough money to go it alone in setting up a bank.Why buy ECB?A bank that I knew one year ago was having liquidity issues?Why the funny movements of an employee who is clearly creating conflict of interest?
You make deals with Meralli,he wins big,you lose big.Simple.


See a comparison of the financials of Mwalimu SACCO and Equatorial Bank here

See also Business daily article on the reason behind Merali's divestiture from the bank



Equatorial Commercial Bank (ECB) has transferred its prime office complex to Fidelity Shield Insurance as it prepares to sell a 51 per cent stake to Mwalimu Sacco.
http://www.businessdaily...00/-/b6ikwk/-/index.html
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Mainat
#13 Posted : Monday, October 20, 2014 7:27:58 AM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Typical Merali move. You'd hope Mwalimu has some savvy investors who will adjust their buying price accordingly.

Equatorial Commercial Bank (ECB) has transferred its prime office complex to Fidelity Shield Insurance as it prepares to sell a 51 per cent stake to Mwalimu Sacco.
http://www.businessdaily...0/-/b6ikwk/-/index.html[/quote]
Sehemu ndio nyumba
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bird_man
#14 Posted : Monday, October 20, 2014 2:57:50 PM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
So now Mwalimu is buying ECB minus the building?And who even believes that the building is 414M???Mwalimu will simply buy a shell of bad loans and no customers minus assets at 2.5B.
Formally employed people often live their employers' dream & forget about their own.
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Boris Boyka
#15 Posted : Friday, December 05, 2014 11:11:48 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
murchr wrote:
Stract_Consulting wrote:
bird_man wrote:
Stract_Consulting wrote:
[quote=murchr]
51% deal for Merali Bank put on hold


The issue of the Ministry of Industrialization and Enterprise Development raising issues of corporate governance on Equitorial Commercial Bank seems to be strange, as the bank is supervised by Central Bank of Kenya.

Otherwise the issue of seeking regulatory approval from both the Ministry and SASRA should have been done by Mwalimu.

Could anyone know who the transactional advisers for this deal are?


They didnt get approval from the Ministry or Sasra.This is simply an attempt to fleece teachers off their money.Mwalimu has enough money to go it alone in setting up a bank.Why buy ECB?A bank that I knew one year ago was having liquidity issues?Why the funny movements of an employee who is clearly creating conflict of interest?
You make deals with Meralli,he wins big,you lose big.Simple.


See a comparison of the financials of Mwalimu SACCO and Equatorial Bank here

See also Business daily article on the reason behind Merali's divestiture from the bank



Equatorial Commercial Bank (ECB) has transferred its prime office complex to Fidelity Shield Insurance as it prepares to sell a 51 per cent stake to Mwalimu Sacco.
http://www.businessdaily...0/-/b6ikwk/-/index.html[/quote
SASRA has given in...the merali empire continues
www.businessdailyafrica....0/-/2getigz/-/index.html
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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  | | Edit by user: Friday, December 05, 2014 11:12 PM | Reason: Not specified
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