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Muramati Sacco shares
Rank: Hello Joined: 12/26/2010 Posts: 3
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Muramati Sacco: A brief profile and high lights
Muramati was registered and licenced in 1993 under the co-operative societties act with an objective of pooling funds from members for onward lending at affordable rates. The sacco opened its first FOSA in 1997 and has grown to 12 branches and several mobile out lets.Innitially, the ownership of the sacco was restricted to members from the larger Murang'a, Maragwa and Thika districts but has since changed the by-laws to incorporate all kenyans. The society uses a centralized system of governance with the supreme authority vested upon members through the delegate system of governance. PKF are the external auditors. This year, they won the prestigious FIRE awards 2010 in the sacco category, the first sacco to win this proffessional acclaimed award in Kenya.
Interstingly, it was their first time to vie/enter for the awards. They have consistently been voted the best managed sacco in various awards.
The sacco intends to open more branches accross the country.
If on wishes to
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Rank: Veteran Joined: 12/9/2010 Posts: 894 Location: Nairobi
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before anyone thinks more about this 'bluechip' muramati sacco, read the todays daily nation pg 21. Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
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Rank: Veteran Joined: 5/8/2007 Posts: 885
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seems CMA has not authorised the sale of its shares, as per paid advert in todays nation.
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Rank: Elder Joined: 5/30/2009 Posts: 1,390
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CMA not happy with Muramati.They overlooked the regulator What a wicked man I am!The things I want to do,I don't do.The things I don't want to do I find myself doing
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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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@all.....CMA does NOT regulate private placements.
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Rank: Veteran Joined: 12/9/2010 Posts: 894 Location: Nairobi
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@merchant, the advert reads 'that no person shall offer its subscription or sale to the public or a section of the public. i thought a section of the public' means private. any english man in the house. Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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Tommy wrote:@merchant, the advert reads 'that no person shall offer its subscription or sale to the public or a section of the public. i thought a section of the public' means private. any english man in the house.  Hmmmm...so how come noone spoke up when Deacons and I&M Bank were doing their private placements? Confusing.
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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The Merchant wrote:Tommy wrote:@merchant, the advert reads 'that no person shall offer its subscription or sale to the public or a section of the public. i thought a section of the public' means private. any english man in the house. Hmmmm...so how come noone spoke up when Deacons and I&M Bank were doing their private placements? Confusing. I think Deacons and I&M must have received approval from CMA to raise funds through private placement. It looks Mumarati did not bother to do so.
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Rank: Member Joined: 12/9/2008 Posts: 43
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Another Equity in the making.There format is like that of Equity n Family.So grab the chance to be part of it. Msafara wa mamba burukenge hawakosi![/b]
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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Here is the CMA doc... http://www.cma.or.ke/images/fbfiles/muramati.pdf
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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@Pkoli...I have not seen the ad in the paper(Im far off). Does this mean that CMA is advising against participating in this private placement at worst or having a do-it-at-your-own-risk attitude at best?
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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The Merchant wrote:@Pkoli...I have not seen the ad in the paper(Im far off). Does this mean that CMA is advising against participating in this private placement at worst or having a do-it-at-your-own-risk attitude at best? Check page 21 of the Daily Nation. I am not sure if it is same page for other regional dailies, i.e Western and Coast. CMA is saying they have not snactioned it and so people buying the 'shares' are doing so ay their own risk
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Rank: Member Joined: 11/21/2007 Posts: 152 Location: Nairobi
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Why CMA raising their concern now?
The Sales has been on since around 20th Oct & was set to close on 31st Dec 2010.
I already bought the shares.
I don't require CMA Approval to gauge a sound investment move.
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Rank: New-farer Joined: 12/21/2010 Posts: 9
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Somebody shed some light into whether CMA is acting out of mandate or just to seek relevance.Anyway I find it a tricky issue coz all the MFI's do like Muramati are doing now.Talk about Equity,Family and others they all started selling their shares in a kienyenji manner before they were even popular.Furthermore Muramati started selling their shares to a section of the public esp accountholders more than 5 yrs ago and they have been doing it all along,giving generous dividends and bonuses...Anyway it's arisky investment and may be equally rewarding.CMA approval changes nothing you lose money even with their approval(uchumi e.g).CHAGUO NI LAKO
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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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PKoli wrote:The Merchant wrote:@Pkoli...I have not seen the ad in the paper(Im far off). Does this mean that CMA is advising against participating in this private placement at worst or having a do-it-at-your-own-risk attitude at best? Check page 21 of the Daily Nation. I am not sure if it is same page for other regional dailies, i.e Western and Coast. CMA is saying they have not snactioned it and so people buying the 'shares' are doing so ay their own risk The regulatory risk here is too high. Ill opt out of this one. Hopefully I will not eat my words. Now Muramati needs to come out and make their numbers available to all to eliminate this regulatory risk. Its upto them now. If they do not handle this one well it says alot about the company and we are all probably better of not investing in the company. 
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Rank: Hello Joined: 10/14/2010 Posts: 1 Location: NAIROBI
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it falls squarely on CMA's role to regulate all fundraising activities, and thus must give approvals in such issues,
Much as Muramati could be the next Equity if not better, the average Kenyan needs to be protected from the Maddoff likes, and is such the reason why any issuer should submitt an information memorandum which deacons did.
Once an issue is advertised like this one was, it ceases to be a private placement
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Rank: Veteran Joined: 12/9/2010 Posts: 894 Location: Nairobi
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@ ilikeyou, according to cma, it has just come to their attention through a section of the media(both tv n print) and this makes me wonder which mrkt they are regulating and where their staff reside. its too late for them to start their blah blahs. Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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It is sad that guys here at wazua are ahead of CMA. And now we are being warned against buying tha shares. African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Rank: Elder Joined: 6/23/2009 Posts: 13,641 Location: nairobi
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Murawhat! People actually bought these things!? Kenyans are runnin out of wisdom
COOP 255,000 ABP 15.85; KQ 484,100 ABP 7.45; MTN 23,800 ABP 5.20
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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obiero wrote:Murawhat! People actually bought these things!? Kenyans are runnin out of wisdom Remember the same warning when Real Insurance where doing their Private Placement. Also they won a FiRe award for the best managed Sacco. This is an individual decision but i am in it besides CMA=Wakora. History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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