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Home Afrika Listing at NSE!
Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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Metch wrote:[quote=VituVingiSana]The folks who were behind Home Afrika have moved on to other real estate projects that compete with Home Afrika http://www.businessdaily.../-/sd1dexz/-/index.html[/quote] The scheme is a replica of HAFR. I won't be surprised if it is listed as well in the near future I think is fair game: scheme shaft Wajinko, bailout and establish a new one, list at NSE shaft Wanjiko again over and over again...herd mentality of Wanjiko is to blame characterised by sentimental attitude instead of facts and core investing principle. Wazuans you will remain vulnerable and screwed up na bado! John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Spikes wrote:Metch wrote:[quote=VituVingiSana]The folks who were behind Home Afrika have moved on to other real estate projects that compete with Home Afrika http://www.businessdaily.../-/sd1dexz/-/index.html[/quote] The scheme is a replica of HAFR. I won't be surprised if it is listed as well in the near future I think is fair game: scheme shaft Wajinko, bailout and establish a new one, list at NSE shaft Wanjiko again over and over again...herd mentality of Wanjiko is to blame characterised by sentimental attitude instead of facts and core investing principle. Wazuans you will remain vulnerable and screwed up na bado! @Spikes very true... possunt quia posse videntur
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Metch wrote:[quote=VituVingiSana]The folks who were behind Home Afrika have moved on to other real estate projects that compete with Home Afrika http://www.businessdaily.../-/sd1dexz/-/index.html[/quote] The scheme is a replica of HAFR. I won't be surprised if it is listed as well in the near future Let me be the devils advocate. Some people are good at conceiving, birthing and nurturing startups. Others are good at taking just weaned companies, growing them and stabilizing them. Lee Karuri seems to be very good at the former. If what he does best is successfully conceptualizing and birthing start ups, let him continue. it's good for the economy and other investors. Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,344 Location: Nairobi
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sparkly wrote:Metch wrote:[quote=VituVingiSana]The folks who were behind Home Afrika have moved on to other real estate projects that compete with Home Afrika http://www.businessdaily.../-/sd1dexz/-/index.html[/quote] The scheme is a replica of HAFR. I won't be surprised if it is listed as well in the near future Let me be the devils advocate. Some people are good at conceiving, birthing and nurturing startups. Others are good at taking just weaned companies, growing them and stabilizing them. Lee Karuri seems to be very good at the former. If what he does best is successfully conceptualizing and birthing start ups, let him continue. it's good for the economy and other investors. I disagree but anyway... I put the HAFR bunch in the same league as Merali & Matu. Do not touch their firms as investors. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 8/16/2009 Posts: 994
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maka wrote:Spikes wrote:Metch wrote:The scheme is a replica of HAFR. I won't be surprised if it is listed as well in the near future I think is fair game: scheme shaft Wajinko, bailout and establish a new one, list at NSE shaft Wanjiko again over and over again...herd mentality of Wanjiko is to blame characterised by sentimental attitude instead of facts and core investing principle. Wazuans you will remain vulnerable and screwed up na bado! @Spikes very true... A shopping mall in Murang'a! This is pushing things a bit too far. Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Rank: Elder Joined: 7/22/2009 Posts: 7,836
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sparkly wrote:HAL acreage:
Migaa = 774
Kikwetu = 1,000
Llango = 21
Lakeview = 91
Total = 1,886
Market Cap at 2.25 per share = KShs 911,824,470
Therefore Market valuation of company per acre = 911,824,470/1,886= KShs 483,470
The company has no liabilities??? Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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MaichBlack wrote:sparkly wrote:HAL acreage:
Migaa = 774
Kikwetu = 1,000
Llango = 21
Lakeview = 91
Total = 1,886
Market Cap at 2.25 per share = KShs 911,824,470
Therefore Market valuation of company per acre = 911,824,470/1,886= KShs 483,470
The company has no liabilities??? One last time, they are NOT developing with own money to sell later (and declare the kill)! They are developing with loans, deposits and in the process SELLING OFF the units as losses continue. Projects will come online when fully sold. Forget a windfall on completion. Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 7/22/2009 Posts: 7,836
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Gatheuzi wrote:maka wrote:Spikes wrote:Metch wrote:The scheme is a replica of HAFR. I won't be surprised if it is listed as well in the near future I think is fair game: scheme shaft Wajinko, bailout and establish a new one, list at NSE shaft Wanjiko again over and over again...herd mentality of Wanjiko is to blame characterised by sentimental attitude instead of facts and core investing principle. Wazuans you will remain vulnerable and screwed up na bado! @Spikes very true... A shopping mall in Murang'a! This is pushing things a bit too far. And those kind of developments are normally weekend homes for those who can afford a second or third home. The Mall business owners and employees had better be prepared to join the Nairobians on their trip back to Nairoberry on Sunday evening, after checking in on Friday evening. No one is going to live there Sunday to Sunday - unless they sell all the units to retirees!! But the developers will make a kill. Land there was/is dirt cheap. Something like 200k an acre if I am not wrong (weather not that good for farming). The fellows probably got a better deal than that and then sell a quarter for millions! Do the math!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
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sparkly wrote:HAL acreage:
Migaa = 774
Kikwetu = 1,000
Llango = 21
Lakeview = 91
Total = 1,886
Market Cap at 2.25 per share = KShs 911,824,470
Therefore Market valuation of company per acre = 911,824,470/1,886= KShs 483,470
Brother, the ownership structure of the "lands" and the "houses" will shock you. Who owns what, who funds which, who pays what, etc etc etc. e.g. Only 60% of Migaa is owned by the Listed Home Afrika Limited. The other 40% is owned by Tulip and Linyati equally. Now, if i may ask you, do you know who takes the loans? who funds what? who pays who? Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Home Afrika and Transcentury are so similar. The are basically private clubs that eventually listed. Before being private clubs they were chamas. I refused to invest in both for the same reasons. 1. Over valued by a factor. Transcentury it was x5, home afrika x6. ( Listing with such an over valuation is a red flag, and contains insincere motives which became evident when major shareholders sold out) 2. I did not trust the management The investor's chief problem - and even his worst enemy - is likely to be himself
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