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End of AccessKenya gravy train
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muganda
#1 Posted : Thursday, September 10, 2009 2:53:00 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Forgive me but I've been asleep and my computer may have gone crazy. Is it possible that Access Kenya half year results show 29% decrease in profit before tax?

http://nse.co.ke/newsite...ar%20Results%202009.pdf

Have I missed thread discussing impact of this?
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Gordon Gekko
#2 Posted : Thursday, September 10, 2009 3:52:00 PM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
Yes you missed my comment that Access barked up the wrong tree when they bought Openview. They even made it worse when they upped their holding in Openview from 70% to 100%. Henry Njoroge must have bought an island in the Bahamas and a 100 foot yatch to get there with.
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VituVingiSana
#3 Posted : Thursday, September 10, 2009 10:42:00 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Funny thing is that when they bought openview,it even looked like a bad deal. I have no idea if the deal to buy openview was to repay henry njoroge for some other help?

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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muganda
#4 Posted : Friday, September 11, 2009 5:20:00 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Not so sure if Openview is fully to blame. Looking at Internet nos alone,profit before tax also declined 20% compared to half 2008. Man,this company has entered a new phase!
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Sigiriri
#5 Posted : Friday, September 11, 2009 5:43:00 AM
Rank: Member

Joined: 6/26/2008
Posts: 319
Men and women,the IT business today is about cut-throat competition! One cant grab a few customers from UU,become the best corporate ISP and rest on their laurels! They are going exactly same way as UU - and their business model wont work! Who here has access @ home for example? Safcom and Orange will beat them at home! Orange bought jamii and therefore now has a metroplitan network in place - corporates could start moving there too!

It's not about image in the IT business,it is about service delivery and competitive pricing. check this out - prior to 'borrowing' millions via their whatever issue,they were using Blue broadband for wireless and KDN fibre for last mile. They borrowed ur millions to invest in their own infrastructure. If u were KDN,what wud you do? Get a license to provide internet too! And it's what they did! The infrastructure most ISPs have been using was laid by KDN,and now they offer you internet too! Corporates love their pricing too!

I could say more,but why pay usd1,000 per month for 'increased bandwidth of 0.25Mbps when KDN offers 1mbps for only usd720?

If your out there AK pple,heed the call or go the UU way - down,down,down!


Baraka za Mungu ni za Ajabu
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Djinn
#6 Posted : Friday, September 11, 2009 6:03:00 AM
Rank: Elder

Joined: 11/13/2008
Posts: 1,565
@Gordon Gekko - maybe not an island - most certainly a Range Rover Sport (and I hear an X5 for Mrs) smile

@all - in some other thread I wrote one or two things abt AK and its outlook - more an industry perspective than as a stocks expert (which I will never lay claim to). However,in the last 30-45 days AK has suffered churn to other operators (Zuku,Telkom - Telkom are revamping their DSL and are going to push this like an expectaant mother will push to deliver - hard - and of course ZAin and Safcom have more or less enamoured themselves to the home market. KDN have not just added a revenue stream,rather a white water river - by carrying SEACOM inland and backhauling for all other operators,even in Uganda and Tanzania - and Rwanda - and soon DRC and looking further...

The problem with equality is that we desire that it be with those that have more than us rather that those that have less
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sheep
#7 Posted : Friday, September 11, 2009 6:33:00 AM
Rank: Veteran

Joined: 7/24/2008
Posts: 781
What about the new deal with tata to provide a pop link.What effect will it have on the bottom line?
The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.
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Djinn
#8 Posted : Friday, September 11, 2009 6:50:00 AM
Rank: Elder

Joined: 11/13/2008
Posts: 1,565
@sheep - the deal with tata is no more different than what they would already have with satellite providers like teleglobe,etc. With both TEAMs,the cable is live to Fujairah in the UAE - all members using TEAMS have to unilaterally (or collectively if they can organise themseleves) - negotiate onward connectivity to the Europe,Far East,etc. So while AK,SCOM,etc may be connected to TEAMS,each has to negotiate onward connectivity....the Middle East is like a 'switching centre' (or clearing house if you like). SEACOM already connects onwards to other regions so anyone buying SEACOM bandwidth is getting it right up to where they want it to go - if you are KDN and want pop to pop to London,thats what you will get,etc

The problem with equality is that we desire that it be with those that have more than us rather that those that have less
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Djinn
#9 Posted : Friday, September 11, 2009 6:57:00 AM
Rank: Elder

Joined: 11/13/2008
Posts: 1,565
@sheep - I see I did not really answer the question - announcing the deal with Tata really only reflects that it has access to one of the better managed and pervasive submarine networks....so in terms of going to press and going to market,no one else has said who is going to carry their onward traffic from TEAMS. So its PR - customers are no about to start a stampede to AK smile

The problem with equality is that we desire that it be with those that have more than us rather that those that have less
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tusker8
#10 Posted : Friday, September 11, 2009 7:02:00 AM
Rank: Member

Joined: 8/22/2008
Posts: 82
@ sigiriri...Orange has not bought Jamii,and they are not about to. Safaricom almost did but they fell out at the last stage after the due diligence exposed some financial 'irregularities' . And,KDN is selling 1 Mbps at US $ 600,not 720.
@Djinn...all true. KDn is a league of its own. And they ain't public as yet.

You know you are old when you wake up with a hangover and you didnt touch no drink the previous nite.
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