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Rotich removes caps on foreign ownership in local firms
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maka
#1 Posted : Wednesday, July 01, 2015 1:03:01 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Is this really a good idea?

Kenya has removed the limitation on foreign ownership of local companies in a milestone step expected to attract new investments. National Treasury Cabinet Secretary Henry Rotich told investors yesterday that foreign ownership caps would only be retained in cases where the country has a strategic interest. In essence, the proposal allows foreigners to acquire the entire stakes of companies listed at the Nairobi Securities Exchange. Rotich's latest move effectively reverses a regulation proposed by one time finance minister Amos Kimunya who had capped foreign ownership of listed companies at 75%. (Source: The Standard)
possunt quia posse videntur
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whiteowl
#2 Posted : Wednesday, July 01, 2015 1:28:07 PM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
Don't know if it's a good idea but it definitely presents a great opportunity to mint cash.
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majimaji
#3 Posted : Wednesday, July 01, 2015 1:58:07 PM
Rank: Veteran

Joined: 4/4/2007
Posts: 1,162
whiteowl wrote:
Don't know if it's a good idea but it definitely presents a great opportunity to mint cash.

by whom?
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Wakanyugi
#4 Posted : Wednesday, July 01, 2015 2:31:09 PM
Rank: Veteran

Joined: 7/3/2007
Posts: 1,635
whiteowl wrote:
Don't know if it's a good idea but it definitely presents a great opportunity to mint cash.


I think it is a sensible idea and will likely lead to increased FDI for the country, which is good.

National ownership of companies, like having your flag on a national airline, is an expensive affectation that adds no real value, other than pride, and in many cases shuts out companies from the kind of talent, new ideas and technology that they need to grow and compete globally.

As long as company X is creating good jobs, paying taxes and otherwise contributing to the national well being, its ownership should not be an issue.

What about repatriation of profits, you ask?

Well, what about it?
"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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maka
#5 Posted : Wednesday, July 01, 2015 2:35:04 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Wakanyugi wrote:
whiteowl wrote:
Don't know if it's a good idea but it definitely presents a great opportunity to mint cash.


I think it is a sensible idea and will likely lead to increased FDI for the country, which is good.

National ownership of companies, like having your flag on a national airline, is an expensive affectation that adds no real value, other than pride, and in many cases shuts out companies from the kind of talent, new ideas and technology that they need to grow and compete globally.

As long as company X is creating good jobs, paying taxes and otherwise contributing to the national well being, its ownership should not be an issue.

What about repatriation of profits, you ask?

Well, what about it?


In terms of trading what happens?
possunt quia posse videntur
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biddii
#6 Posted : Wednesday, July 01, 2015 3:01:40 PM
Rank: New-farer

Joined: 9/25/2014
Posts: 27
Which listed companies would these be? From what I can make out:

1. BAT
2. CFC Stanbic
3. Total
4. BOC Kenya
5. Bamburi?

Please add any others I have missed.

Thanks
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Wakanyugi
#7 Posted : Wednesday, July 01, 2015 3:04:36 PM
Rank: Veteran

Joined: 7/3/2007
Posts: 1,635
maka wrote:
Wakanyugi wrote:
whiteowl wrote:
Don't know if it's a good idea but it definitely presents a great opportunity to mint cash.


I think it is a sensible idea and will likely lead to increased FDI for the country, which is good.

National ownership of companies, like having your flag on a national airline, is an expensive affectation that adds no real value, other than pride, and in many cases shuts out companies from the kind of talent, new ideas and technology that they need to grow and compete globally.

As long as company X is creating good jobs, paying taxes and otherwise contributing to the national well being, its ownership should not be an issue.

What about repatriation of profits, you ask?

Well, what about it?


In terms of trading what happens?



Please explain


"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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whiteowl
#8 Posted : Wednesday, July 01, 2015 3:21:18 PM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
majimaji wrote:
whiteowl wrote:
Don't know if it's a good idea but it definitely presents a great opportunity to mint cash.

by whom?

Since there are no limits, that means greater volatility during entry and exit of the foreign cash.If you are on the right side of that volatility you can profit immensely. On the flipside the worth of your stocks can be wiped out.
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Othelo
#9 Posted : Wednesday, July 01, 2015 3:30:47 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
biddii wrote:
Which listed companies would these be? From what I can make out:

1. BAT
2. CFC Stanbic
3. Total
4. BOC Kenya
5. Bamburi?
6. EABL
7. Hizo ma Tea + coffee companies

Please add any others I have missed.

Thanks

Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Aguytrying
#10 Posted : Wednesday, July 01, 2015 3:36:14 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Othelo wrote:
biddii wrote:
Which listed companies would these be? From what I can make out:

1. BAT
2. CFC Stanbic
3. Total
4. BOC Kenya
5. Bamburi?
6. EABL
7. Hizo ma Tea + coffee companies
8. Pan africa insurance

Please add any others I have missed.

Thanks


The investor's chief problem - and even his worst enemy - is likely to be himself
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