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The power of financial education
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Marty
#251 Posted : Wednesday, June 20, 2012 12:34:09 PM
Rank: Veteran

Joined: 3/31/2008
Posts: 761
Location: Nairobi
Pesa Nane wrote:
@Marty, Maximum Respects.
My big question is how have you gathered all this information 1. You are a computer/software graduate but some info is lawyer specific. 2.You are in import business but the info again is legislations specific. 3.How and how long has it taken you to gather this information? 4.How much of this info are you using on a daily basis and lastly are you in single or multiple businesses?
Lastly ya mwisho, where can I get trained on practical business / finance matters kama hizi?


Interesting. I am computer graduate but my passion is in real estate. Some of the info is directly related to my personal experiences. The lawyer specific info is acquired via relating to lawyers coz in real estate I deal with them a lot. I am also very keen on matters law. I gathered the info consciously and sub-consciously.

As u rightly note I not only do real estate but a bit of import business. This info I use a lot in my life to great effect. Of course in the past I have done a bit of farming and other few businesses.

The unfortunate thing regarding financial education in Kenya is that we don't really have formal schools teaching this and those that do it may not necessarily be practical. There is definately a big gap here. Maybe I'll start School for entrepreneurs someday. The biggest challenge here is the fact that this ought to be a practical school where the trainers would be successful guys, otherwise itakuwa fake.
When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
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Mkimwa
#252 Posted : Wednesday, June 20, 2012 2:26:58 PM
Rank: Member

Joined: 10/26/2008
Posts: 380
@Marty,
Please include nditika@gmail.com
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Mastermind
#253 Posted : Wednesday, June 20, 2012 2:37:34 PM
Rank: Veteran

Joined: 1/25/2012
Posts: 1,624
Location: Langley
Many thanks @Marty. Wishing there was a better way to show my appreciation!
If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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nduatizy
#254 Posted : Wednesday, June 20, 2012 2:38:59 PM
Rank: New-farer

Joined: 6/27/2011
Posts: 17
Location: mombasa
nduatizy at yahoo dot com. Please.
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dnn
#255 Posted : Wednesday, June 20, 2012 3:35:33 PM
Rank: Member

Joined: 7/17/2006
Posts: 133
Marty wrote:
Mshika Dau wrote:
Many thanks @marty for the job here. Mind sharing on the procedure for lease renewal at the expiry of 99years in the case of a leasehold title?


Just before the expiry of your lease make sure you write a letter to the Commissioner of Lands informing him that you are the current holder of the lease and you are requesting for its renewal. You also must undertake to pay the charges attributable to the renewal.

The letter will be filed at records and a request dispatched to the land officer of the respective land registry where the Certificate of Lease was issued. This marks the start of a ka-process that involves several officer within the registry. After the request goes through a host of officers it ends up at the Commissioner who ideally will approve the renewal.

Take note of the special conditions that are on the initial lease and they needed to have been met before for ease of renewal. In fact, failure to meet those conditions may constitute reasonable grounds to deny you the renewal. Ideally in the case some of the conditions are no met, you'll receive some correspondence to that effect though in Kenya it is hard for you to be deny the renewal. Make sure you pay all accrued rent and rates.

By the way, failure to seek renewal may be construed to mean that you are no longer interest in the said land whereupon another person can be issued with another lease for the same land. By the way, there are sharks in town on the prowl for expired lease whose owners have not renewed.


Good caution
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  | | Edit by user: Wednesday, June 20, 2012 3:36 PM | Reason: Not specified
eco
#256 Posted : Wednesday, June 20, 2012 5:45:11 PM
Rank: Member

Joined: 6/17/2011
Posts: 229
Marty wrote:
Succession Planning Cont'd

....

Next and as per the request of one @eco, we shall talk more about writing a will. This is an area that lawyers would be better placed to give the info but I will give the info that I know.

To the ardent readers and followers of this thread

God bless you as you follow this long and winding journey to financial education. My objective is to pass the knowledge as I seek for more. After all Proverbs 11:25 says it "A generous man will prosper; he who refreshes others will himself be refreshed" Generosity transcends our respective faiths and it is the ultimate secret to greater riches and personal fulfilment. All should feel free to pass the info onwards and should not be obliged to quote it's source.

Thank you. You shall surely be refreshed for extending your hand to share great practical wisdom. I look forward to the next post.
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eco
#257 Posted : Wednesday, June 20, 2012 5:55:10 PM
Rank: Member

Joined: 6/17/2011
Posts: 229
Marty wrote:
Pesa Nane wrote:
@Marty, Maximum Respects.
My big question is how have you gathered all this information 1. You are a computer/software graduate but some info is lawyer specific. 2.You are in import business but the info again is legislations specific. 3.How and how long has it taken you to gather this information? 4.How much of this info are you using on a daily basis and lastly are you in single or multiple businesses?
Lastly ya mwisho, where can I get trained on practical business / finance matters kama hizi?

....

The unfortunate thing regarding financial education in Kenya is that we don't really have formal schools teaching this and those that do it may not necessarily be practical. There is definately a big gap here. Maybe I'll start School for entrepreneurs someday. The biggest challenge here is the fact that this ought to be a practical school where the trainers would be successful guys, otherwise itakuwa fake.

To start with, please publish a book, whose draft you have already written through these numerous posts. Just a few additions and refining here and there, with some further practical examples from the FAQs here and there goes the Book on Financial Education in Kenya. There is a gap and a greater need @Marty.
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Marty
#258 Posted : Thursday, June 21, 2012 7:06:44 AM
Rank: Veteran

Joined: 3/31/2008
Posts: 761
Location: Nairobi
eco wrote:
Marty wrote:
Pesa Nane wrote:
@Marty, Maximum Respects.
My big question is how have you gathered all this information 1. You are a computer/software graduate but some info is lawyer specific. 2.You are in import business but the info again is legislations specific. 3.How and how long has it taken you to gather this information? 4.How much of this info are you using on a daily basis and lastly are you in single or multiple businesses?
Lastly ya mwisho, where can I get trained on practical business / finance matters kama hizi?

....

The unfortunate thing regarding financial education in Kenya is that we don't really have formal schools teaching this and those that do it may not necessarily be practical. There is definately a big gap here. Maybe I'll start School for entrepreneurs someday. The biggest challenge here is the fact that this ought to be a practical school where the trainers would be successful guys, otherwise itakuwa fake.

To start with, please publish a book, whose draft you have already written through these numerous posts. Just a few additions and refining here and there, with some further practical examples from the FAQs here and there goes the Book on Financial Education in Kenya. There is a gap and a greater need @Marty.


The book is in the offing.
When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
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Pesa Nane
#259 Posted : Friday, June 22, 2012 11:21:25 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
@Marty, You are doing a great services. To offload the stress of sending out a thao and one emails (of course several will bounce back) please paste the info on wazua@googlegroups.com and all subscribers watapa.
GOTA na UGOTEANE.
Pesa Nane plans to be shilingi when he grows up.
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woodpecker
#260 Posted : Friday, June 22, 2012 12:15:00 PM
Rank: New-farer

Joined: 5/8/2012
Posts: 21
Marty wrote:
woodpecker wrote:
Marty, thanks for your posts. very informative. Got a question - On completing paying for land and issued a share certificate, whose responsibility is it to get the title and approximately how much? we have a seller who insists he is the only one who can get the title but i feel he is ripping us with the fees.


Does the land have a title already, or is it that the guy issues the shares certificate awaiting the title? If the former, then the transfer can be done by anyone as long as the completion docs are available. If the later, then the guy must first finalize the subdivision and get the subtitles. Once the subtitles are out, then someone else can execute the transfer.


Marty,
been away hence delay in response. The completion documents are available and on inquiry been informed he wont avail the documents for individuals to get the titles on their own.


my email is hellowoodpecker at gmail dot com (add me to your mailing list, plus i could divulge more on the above on mail if it could help before i pay a fee i feel is ridiculous)

God bless your effort of informing others.
Do not let your hearts be troubled, trust in God
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