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Is it the right time to buy CENTUM?
Rank: Chief Joined: 1/3/2007 Posts: 18,344 Location: Nairobi
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Even though Centum is a core holding for me, it is looking increasingly attractive and I might add more cash permitting. They are flexible and adapting to the new environments. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 7/6/2018 Posts: 175 Location: Kinshasa
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kmucheke wrote:Ericsson wrote:MaichBlack wrote:kmucheke wrote:VituVingiSana wrote:Balaa wrote:VituVingiSana wrote:https://www.businessdailyafrica.com/bd/markets/capital-markets/centum-subsidiary-eyes-boda-boda-riders-with-unit-trust--2720268 Centum subsidiary eyes boda boda riders with Sh50 a day savings scheme Doesn't this change of tack feel like a sense of deja vu? Reminds me of the Kenyan banks' change of attitude towards the income earners at the bottom of the food chain before Equity Bank showed up in town with their model of banking the unbankable. Now, just like in the aftermath following Equity Bank's game changer, Centum is back in the streets hawking their hitherto elitist MMF product in the same manner top tier banks had to eat humble pie and started hawking loan products to Average Joe in the streets! How was Centum's MMF elitist? The minimum amount has been 1M and topup 100k with 1M being the minimum holding amount. I think this is what @Balaa meant as "elitist". Nabo Capital KSh. Money Market Fund minimum amounts and topupsNabo Capital Money Market Fund (KES) Minimum Initial Subscription Amount 1,000,000/=
Minimum Subsequent Subscription Amount 100,000/=
Minimum Holding Amount 1,000,000/= And that is class D!!! The lowest. Class A minimum initial subscription is 100,000,000/= with top ups of 1,000,000/= Even in the arrangement proposed for boda boda operators,they won't contribute their ksh.50 directly. Instead they will contribute to the investment/sacco which will then pool the funds and open a single account with Nabo capital for onward investment. Quote:Centum-owned Sidian Bank will be the receiving bank for the product that is riding on a mobile application developed by Tribus TSG. Quote:Tribus TSG Limited is the solution arm of Centum Investment Company Plc that offers a wide variety of solutions ranging from soft and hard Services all the way to continent first cutting-edge technologies. What happened to Nabo Capital’s Wanafunzi Investment Unit Trust Fund ? LINK According to the CMA Quarterly Statistical Bulletin Q3 2020 "Wanafunzi Investments managed the least portfolio at KES 161,359". Rather pedestrian  https://cma.or.ke/index....mp;id=79&Itemid=259
Wonder how they're sustaining the Secretariat https://wanafunzi.co.ke/about-us/
But it's reassuring to see good old McFie (for those who went through his hand at SOA) as Chairman. The old man's principled. If it don't make dollars, it don't make sense
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Balaa wrote:kmucheke wrote:Ericsson wrote:MaichBlack wrote:kmucheke wrote:VituVingiSana wrote:Balaa wrote:VituVingiSana wrote:https://www.businessdailyafrica.com/bd/markets/capital-markets/centum-subsidiary-eyes-boda-boda-riders-with-unit-trust--2720268 Centum subsidiary eyes boda boda riders with Sh50 a day savings scheme Doesn't this change of tack feel like a sense of deja vu? Reminds me of the Kenyan banks' change of attitude towards the income earners at the bottom of the food chain before Equity Bank showed up in town with their model of banking the unbankable. Now, just like in the aftermath following Equity Bank's game changer, Centum is back in the streets hawking their hitherto elitist MMF product in the same manner top tier banks had to eat humble pie and started hawking loan products to Average Joe in the streets! How was Centum's MMF elitist? The minimum amount has been 1M and topup 100k with 1M being the minimum holding amount. I think this is what @Balaa meant as "elitist". Nabo Capital KSh. Money Market Fund minimum amounts and topupsNabo Capital Money Market Fund (KES) Minimum Initial Subscription Amount 1,000,000/=
Minimum Subsequent Subscription Amount 100,000/=
Minimum Holding Amount 1,000,000/= And that is class D!!! The lowest. Class A minimum initial subscription is 100,000,000/= with top ups of 1,000,000/= Even in the arrangement proposed for boda boda operators,they won't contribute their ksh.50 directly. Instead they will contribute to the investment/sacco which will then pool the funds and open a single account with Nabo capital for onward investment. Quote:Centum-owned Sidian Bank will be the receiving bank for the product that is riding on a mobile application developed by Tribus TSG. Quote:Tribus TSG Limited is the solution arm of Centum Investment Company Plc that offers a wide variety of solutions ranging from soft and hard Services all the way to continent first cutting-edge technologies. What happened to Nabo Capital’s Wanafunzi Investment Unit Trust Fund ? LINK According to the CMA Quarterly Statistical Bulletin Q3 2020 "Wanafunzi Investments managed the least portfolio at KES 161,359". Rather pedestrian https://cma.or.ke/index....mp;id=79&Itemid=259
Wonder how they're sustaining the Secretariat https://wanafunzi.co.ke/about-us/
But it's reassuring to see good old McFie (for those who went through his hand at SOA) as Chairman. The old man's principled. Hao pia walijaribu na Wanafunzi Investment Unit Trust Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,344 Location: Nairobi
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Balaa wrote:kmucheke wrote:Ericsson wrote:MaichBlack wrote:kmucheke wrote:VituVingiSana wrote:Balaa wrote:VituVingiSana wrote:https://www.businessdailyafrica.com/bd/markets/capital-markets/centum-subsidiary-eyes-boda-boda-riders-with-unit-trust--2720268 Centum subsidiary eyes boda boda riders with Sh50 a day savings scheme Doesn't this change of tack feel like a sense of deja vu? Reminds me of the Kenyan banks' change of attitude towards the income earners at the bottom of the food chain before Equity Bank showed up in town with their model of banking the unbankable. Now, just like in the aftermath following Equity Bank's game changer, Centum is back in the streets hawking their hitherto elitist MMF product in the same manner top tier banks had to eat humble pie and started hawking loan products to Average Joe in the streets! How was Centum's MMF elitist? The minimum amount has been 1M and topup 100k with 1M being the minimum holding amount. I think this is what @Balaa meant as "elitist". Nabo Capital KSh. Money Market Fund minimum amounts and topupsNabo Capital Money Market Fund (KES) Minimum Initial Subscription Amount 1,000,000/=
Minimum Subsequent Subscription Amount 100,000/=
Minimum Holding Amount 1,000,000/= And that is class D!!! The lowest. Class A minimum initial subscription is 100,000,000/= with top ups of 1,000,000/= Even in the arrangement proposed for boda boda operators,they won't contribute their ksh.50 directly. Instead they will contribute to the investment/sacco which will then pool the funds and open a single account with Nabo capital for onward investment. Quote:Centum-owned Sidian Bank will be the receiving bank for the product that is riding on a mobile application developed by Tribus TSG. Quote:Tribus TSG Limited is the solution arm of Centum Investment Company Plc that offers a wide variety of solutions ranging from soft and hard Services all the way to continent first cutting-edge technologies. What happened to Nabo Capital’s Wanafunzi Investment Unit Trust Fund ? LINK According to the CMA Quarterly Statistical Bulletin Q3 2020 "Wanafunzi Investments managed the least portfolio at KES 161,359". Rather pedestrian https://cma.or.ke/index....mp;id=79&Itemid=259
Wonder how they're sustaining the Secretariat https://wanafunzi.co.ke/about-us/
But it's reassuring to see good old McFie (for those who went through his hand at SOA) as Chairman. The old man's principled. Slick website. This seems to be run by Strathmore Business School (not Nabo) from McFie as Chairman to the SBS alumni and connections of the Secretariat. Partners include KCB, Equity, NSE, KBA, Nabo, etc. Students are broke but it's a good vehicle to teach them to save and invest. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Centum Real estate to float $37mn bond Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,344 Location: Nairobi
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Ericsson wrote:Centum Real estate to float $37mn bond Is it in USD? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:Centum Real estate to float $37mn bond Is it in USD? Further details https://www.businessdail...4bn-housing-bond-2723642Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/22/2008 Posts: 2,721
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Ericsson wrote:VituVingiSana wrote:[quote=Ericsson]Centum Real estate to float $37mn bond Is it in USD? Further details https://www.businessdail...bn-housing-bond-2723642[/quote] Financial gymnastics. Danganya toto jinga. "We have a receivable of Sh6.8 billion from the sold units, which more than covers the bond redemption value. The bond is therefore a bridging finance solution to finance the construction of the pre-sold units" This is very clever of Centum but will be very foolish for bond buyers. What Centum is basically doing is telling you to be a Mortgage holder. Nyumba ziko, wakilipa utalipwa, wasipolipa utabaki na nyumba. The bond holders are being sold houses. Is this because there are no real buyers for the houses?
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Rank: Chief Joined: 1/3/2007 Posts: 18,344 Location: Nairobi
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Kusadikika wrote:Ericsson wrote:VituVingiSana wrote:[quote=Ericsson]Centum Real estate to float $37mn bond Is it in USD? Further details https://www.businessdail...bn-housing-bond-2723642[/quote] Financial gymnastics. Danganya toto jinga. "We have a receivable of Sh6.8 billion from the sold units, which more than covers the bond redemption value. The bond is therefore a bridging finance solution to finance the construction of the pre-sold units" This is very clever of Centum but will be very foolish for bond buyers. What Centum is basically doing is telling you to be a Mortgage holder. Nyumba ziko, wakilipa utalipwa, wasipolipa utabaki na nyumba. The bond holders are being sold houses. Is this because there are no real buyers for the houses? A Bond and Mortgage are siblings. They are both loans. Centum has entered into contracts to sell the houses and it gets paid over time depending on the contract. Or CentumRE has taken a deposit and will be paid upon delivery of the completed unit. CentumRE also wants to start new projects while completing ongoing projects so they need the cash today. It's a timing issue more so with COVID. CentumRE (not the projects) is borrowing and it has multiple projects planned. So it's not Awali or Pearl Marina but CentumRe that's borrowing. Option 1 - Borrow from a bank. It costs more and has a lot of paperwork associated with it as each house is delivered since the bank has a lien on the entire property. Option 2 - Issue a bond that isn't tied to a specific project so as sales happen, the transfers are made to the buyers. At the end of 3 years, the bond can be refinanced/reissued or the cash is used to pay off the bond. As a bondholder, you are given an (call) option and if you so choose, you can either take the cash OR "exchange" part or whole your principal (& interest) for a property. Just like a traded Call Option, you know the underlying asset, Strike Date and Exercise Price. This is not a bond for those who do not understand the structure but geared towards institutions (eg insurance firms) and HNWIs whose needs for cash are different from most retail investors. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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VituVingiSana wrote:Kusadikika wrote:Ericsson wrote:VituVingiSana wrote:[quote=Ericsson]Centum Real estate to float $37mn bond Is it in USD? Further details https://www.businessdail...bn-housing-bond-2723642[/quote] Financial gymnastics. Danganya toto jinga. "We have a receivable of Sh6.8 billion from the sold units, which more than covers the bond redemption value. The bond is therefore a bridging finance solution to finance the construction of the pre-sold units" This is very clever of Centum but will be very foolish for bond buyers. What Centum is basically doing is telling you to be a Mortgage holder. Nyumba ziko, wakilipa utalipwa, wasipolipa utabaki na nyumba. The bond holders are being sold houses. Is this because there are no real buyers for the houses? A Bond and Mortgage are siblings. They are both loans. Centum has entered into contracts to sell the houses and it gets paid over time depending on the contract. Or CentumRE has taken a deposit and will be paid upon delivery of the completed unit. CentumRE also wants to start new projects while completing ongoing projects so they need the cash today. It's a timing issue more so with COVID. CentumRE (not the projects) is borrowing and it has multiple projects planned. So it's not Awali or Pearl Marina but CentumRe that's borrowing. Option 1 - Borrow from a bank. It costs more and has a lot of paperwork associated with it as each house is delivered since the bank has a lien on the entire property. Option 2 - Issue a bond that isn't tied to a specific project so as sales happen, the transfers are made to the buyers. At the end of 3 years, the bond can be refinanced/reissued or the cash is used to pay off the bond. As a bondholder, you are given an (call) option and if you so choose, you can either take the cash OR "exchange" part or whole your principal (& interest) for a property. Just like a traded Call Option, you know the underlying asset, Strike Date and Exercise Price. This is not a bond for those who do not understand the structure but geared towards institutions (eg insurance firms) and HNWIs whose needs for cash are different from most retail investors. So your Kenya Re may be a buyer similar to the previous issue that was retired in June 2020 Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Is it the right time to buy CENTUM?
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