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Ericsson
#1241 Posted : Sunday, September 27, 2020 8:19:22 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
young wrote:
Pls is there any justification for recent kcb rise from 36 to 38 plus?

On Friday share price closed at a 4 month high.
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Ericsson
#1242 Posted : Thursday, October 01, 2020 7:30:42 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
https://businesstoday.co...ols-ahead-of-resumption/
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Ericsson
#1243 Posted : Friday, October 02, 2020 8:12:23 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
National Oil which owes KCB shs.3.8bn and Stanbic shs.1.5bn says it risks being wound up if it doesn't receive funding from the government.
National Oil needs shs.3bn in working capital from the government for financial year 2020/21

https://www.businessdail...8bn-loan-default-2454854
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kmucheke
#1244 Posted : Friday, October 02, 2020 2:37:47 PM
Rank: Member

Joined: 3/16/2019
Posts: 313
[quote=Ericsson]National Oil which owes KCB shs.3.8bn and Stanbic shs.1.5bn says it risks being wound up if it doesn't receive funding from the government.
National Oil needs shs.3bn in working capital from the government for financial year 2020/21

https://www.businessdail...bn-loan-default-2454854[/quote]

GoK will definitely intervene and provide the necessary capital injection. Most of the problems at NOCK seem to be corruption related. Fuel retail and distribution cannot be left solely to the multinationals.

NOCK has over 110 stations and fuel depots across the county. With good management and less political interference they can recover their market share.

There is a very interesting story here on how Kenol/Kobil "stole" business from NOCK during Moi era.
Quote:
This is when the late Nicholas Biwott (who was rumoured to be a major owner of Kenol/Kobil) became the Minister for Energy which regulated the oil sector. This became a perfect case study of blatant conflict of interest, abuse of power and public office, and economic capture of the oil sector by a political group.

As long as Kenol/Kobil was in business, there was no intention by the government to let NOCK grow into a significant marketer. NOCK was essentially a conduit for Kenol/Kobil to procure 30percent of Kenya oil imports. Only a retroactive forensic audit of NOCK imports in 1980s can establish the extent of suspected financial losses by the country and the public.
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Ericsson
#1245 Posted : Friday, October 02, 2020 7:43:50 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
kmucheke wrote:
[quote=Ericsson]National Oil which owes KCB shs.3.8bn and Stanbic shs.1.5bn says it risks being wound up if it doesn't receive funding from the government.
National Oil needs shs.3bn in working capital from the government for financial year 2020/21

https://www.businessdail...bn-loan-default-2454854[/quote]

GoK will definitely intervene and provide the necessary capital injection. Most of the problems at NOCK seem to be corruption related. Fuel retail and distribution cannot be left solely to the multinationals.

NOCK has over 110 stations and fuel depots across the county. With good management and less political interference they can recover their market share.

There is a very interesting story here on how Kenol/Kobil "stole" business from NOCK during Moi era.
Quote:
This is when the late Nicholas Biwott (who was rumoured to be a major owner of Kenol/Kobil) became the Minister for Energy which regulated the oil sector. This became a perfect case study of blatant conflict of interest, abuse of power and public office, and economic capture of the oil sector by a political group.

As long as Kenol/Kobil was in business, there was no intention by the government to let NOCK grow into a significant marketer. NOCK was essentially a conduit for Kenol/Kobil to procure 30percent of Kenya oil imports. Only a retroactive forensic audit of NOCK imports in 1980s can establish the extent of suspected financial losses by the country and the public.



The earlier the loan is repaid,the better
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Ericsson
#1246 Posted : Thursday, October 08, 2020 9:41:19 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Now that Atlas Mara has decided to sell the banking business in piecemeal,KCB should bid to acquire Zambia operations as a strategy of entry there.
In the medium term strategy there was a plan of entering Ethiopia,Somalia,Djibouti,Mozambique, Zambia,Democratic Republic of Congo.
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  | | Edit by user: Thursday, October 08, 2020 9:44 AM | Reason: Not specified
Ericsson
#1247 Posted : Monday, October 12, 2020 7:29:01 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
KCB takes over Sh31bn Imperial Bank deposits

The Kenyan subsidiary of KCB Group has been authorised to take over part of the liabilities and assets of the collapsed Imperial Bank, including Sh31,7 billion worth of deposits.

In a Kenya Gazette notice dated September 8, 2020, the Competition Authority of Kenya said it approved the transfer of the assets and liabilities.

“The Competition Authority has authorised the proposed transaction which entails the transfer of various listed assets, including outstanding deposit balance amounting to Sh31.7 billion, loans and security portfolios together with all rights, titles and interests thereto to KCB Bank Kenya Limited,” said CAK’s Director-General Wang’ombe Kariuki in the notice.

KCB had earlier said it would spend a token 10 US cents (Sh10.8) to acquire part of Imperial Bank’s business.

https://www.businessdail...l-bank-deposits-2462948


KCB Group balance sheet will hit Ksh.1 trillion in assets end of this year
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babashuge
#1248 Posted : Monday, October 12, 2020 2:04:36 PM
Rank: New-farer

Joined: 1/4/2019
Posts: 69
Location: Nairobi
Ericsson wrote:
KCB takes over Sh31bn Imperial Bank deposits

The Kenyan subsidiary of KCB Group has been authorised to take over part of the liabilities and assets of the collapsed Imperial Bank, including Sh31,7 billion worth of deposits.

In a Kenya Gazette notice dated September 8, 2020, the Competition Authority of Kenya said it approved the transfer of the assets and liabilities.

“The Competition Authority has authorised the proposed transaction which entails the transfer of various listed assets, including outstanding deposit balance amounting to Sh31.7 billion, loans and security portfolios together with all rights, titles and interests thereto to KCB Bank Kenya Limited,” said CAK’s Director-General Wang’ombe Kariuki in the notice.

KCB had earlier said it would spend a token 10 US cents (Sh10.8) to acquire part of Imperial Bank’s business.

https://www.businessdail...l-bank-deposits-2462948


KCB Group balance sheet will hit Ksh.1 trillion in assets end of this year



... and over time, thats how KCB ends up being the biggest company by assets
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VituVingiSana
#1249 Posted : Tuesday, October 13, 2020 9:37:04 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
https://www.businessdail...-illegal-ouster-2463936
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#1250 Posted : Tuesday, October 13, 2020 10:53:51 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
https://www.businessdailyafrica.com/bd/economy/ex-nbk-boss-awarded-for-illegal-ouster-2463936


Drop in the ocean.
Kelele ya chura
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