Mark Twain is credited to have said..."History does not repeat itself but it rhymes". Tafakari

The bear was here for 4 solid years and at some point counters like simba and Memba traded at Kshs. 24. while @Obieros diamond was trading at 3 bob with huge supply as late as May this year.Indeed, human beings never learn.

Lakini, all is not lost. Insurance firms are yet to get jolted but i have noticed pia huko supply is drying-up fast and soon some wazuans will be left watching as fresh Uhuru Kenyatta millionaires get minted. I learnt the hard way circa 2011-2014 when i painfully watched despised Britam(and many others) move from sub 4 bob to 36 bob(a straight nine bagger). All i saw was newspaper articles annotating how JM(Equity) and other billionaires wealth had multiplied within a short span of months.In short i was reduced to kula na macho(spectator).

Kwa wale mko ndani enjoy. To those who were lamenting here sijui oh, sijui ah....endeleeni kula na macho.

Nimetoka (sijauza zote), wale wamebaki all the best and see you end of year/early 2020. That was a sweet journey and reward for being patient for the last one year. Kesho I am also offloading some Safaricom as it seems the results will be good

The economy is not doing well overall but banks continue to suck on the weak

One day has barely elapsed and Business daily has a headline about how known Kenyan billionaires have gained billions in paper value.........i will say it again. History does not repeat itself but it rhyme.

Co-op, Equity, BBK now easing off. Tuesday determines the next direction: if M-Pigs pull a fast one, journey South again; if they Okey the amendment, journy North continues...

Word
Lessons you learn along the way!

Kenya Plans Tougher Tax Measures After Seeing Wider Budget Gap


(Bloomberg) -- Kenya is planning legislation that could compel the payment of contested tax bills before courts rule on them, in a bid to boost government revenue and help plug a widening budget deficit.
Over 300 billion shillings ($2.9 billion) is held up in about 1,000 legal disputes before a tax-appeals tribunal and courts, President Uhuru Kenyatta said Tuesday at a meeting in the Kenyan capital, Nairobi. “Most of these cases have stayed for more than two years,” he said.
The government is drafting a bill seeking to empower the tax agency to enforce mandatory payment of tax even when it’s being contested in the courts. The bill will be presented in four months, Kenyatta said.


Kenyatta’s comments come after the National Treasury increased its 2019-20 budget-deficit forecast to 6.2% of gross domestic product from 5.9% earlier following revenue shortfalls. The government also plans to shift its debt-ceiling, effectively opening up room for more borrowing to fund planned infrastructure expansion.

This renders the legal process mute.Its like serving a prison sentence before getting the verdict. This is some high level bs coming from PORK!

1. The Drunk Emperor knows very well that the Tax Appeals Tribunal (TAT) was not sitting from March 2018 to September this year;

2. The reason for TAT not sitting is because members' terms expired in March 2018 and his Govt didn't Gazette new members for more than an year;

3. His Govt further cut the budget for the judiciary (which includes the quasi judicial tribunals like the TAT);

4. He tried to use DCI to collect taxes from Keroche, Wines of the World etc but court told him it doesn't world like that;

5. He harrased, arrested and prosecuted KRA officers, cases still in the courts but tax collection didn't rise;

6. He is now complaining of backlog at TAT as if he doesn't know who caused it;

7. Let the guy drink his whisky, go for foreign trips then retire as the most underwhelming president in the history of Kenya.

Damn, you are fearless! Having had a taste of natural law (forget legal law), I could never speak so plainly. Good luck.