- Peter Muthoka was selected chair in May and the BoD had all the information they have today, why didn't the conflict of interest issue arise then?
- Why did Bill Lay announce he was retiring from GM whilst denying he was doing so to fill the vacancy at CMC? Why did he jump from a big player to a smaller player (in market share terms)?
- If the apparent fraud is over-invoicing, why isn't the ex-FD and ex-CEO also in the dock here given that it is the responsibility of the payer to verify the invoice? Why isn't the auditor also in the dock since this would be part of its attestation?
- If the fraud is charging above what other players in the market (say GM) are charged, (a) that is not fraud (b) his contract would presumably have been verified by the BoD (which has included among other Joel Kibe)...
- Andy Forwarders (Peter Muthoka's business) also manages GM's supply chain and those of others, why would he charge CMC more? AFS has been supplying CMC for 17 years, why is the issue limited to 5 years?
- If as rumoured, Peter Muthoka was opposed to Bill Lay's appointment, is this merely the continuation of boardroom wars.
- If corporate governance is the issue, why not go all the way and require BoD to be composed of more independent directors instead of shareholders as it now is (with exception of the banks)?
Saturday, September 17, 2011
Wednesday, July 20, 2011
Sunday, July 10, 2011
Friday, July 08, 2011
Tuesday, June 21, 2011
Monday, May 30, 2011
Tuesday, April 19, 2011
Sunday, April 17, 2011
Monday, March 28, 2011
- Stop supporting non-ideological parties: Easier said than done, but we must look for MPs and parties that will support a pure development agenda.
- Party/candidate funding: Question or seek to understand how the political party is being funded. Looking at the big financial hitters in the 2007 general election, one could tell who was going to play the piper.
- Stop demanding or accepting cash or other handouts: As soon as that MP candidate pays you, he has to be compensated and compensated profitably. His first priority as an MP will be to seeks ministerial post where he can eat. Failing that, they'll fall prey to a godfather.
- Pre-general election wealth declaration: If candidates had to declare wealth as part of their election manifesto, it may weed out pharmacists and the like.
Friday, March 25, 2011
Thursday, March 24, 2011
Tuesday, March 22, 2011
- Knowledge is power: In Kieni West is a bit like Ukambani in that when it rains, it rains well and when it doesn't, it dries up badly. Despite this, farmers have taken on horticulture with a gusto not seen for a while. Farmers tend to have sizeable holdings i.e. 20+ acres so its not unusual to see a farmer with 1 acre under onions or green beans. The flaw is that these are rain dependant products at the initial stage. More often than not, many get burned financially if it doesn't rain as the quality of the crop is very dependant on this initial rain. If farmers had access to good weather forecasting information, they could avoid planting at certain times. There is also the whole issue of diversify your risk.
- Government services: In the old days, farmers had access to agriculture officers who advised on the best variety of seeds to plant; they had access to veterinary services so that if you were a daily farmer, you could get insemination services and treatment services at small cost. Rather than running around trying to save very rich individuals from the ICC, GoK could quite cheaply have a veterinary officer in every county in Kenya.
- KARI's role: For years, its been my understanding that KARI has developed drought resistant variety of seeds. I am therefore pained when I see farmers lose their maize or potatoes because it hasn't rained enough.
- Commercialising farming: For many farmers, they have yet to move from farming to eat to farming to sell some of their produce. Farmers are better at animal husbandry that your urbanite who wishes to keep hens for sale, yet they are not involved in this business.
Friday, March 04, 2011
Saturday, February 19, 2011
Saturday, January 29, 2011
Wednesday, January 26, 2011
It’s never too early to buy a plot for your own future home or for investment purposes.
Do your due diligence
1. Check in your proposed location of purchase for amenities that you require
c. Nearness to tarmac road/main road or river if for farming
d. Any proposed developments
e. Any past or present issues with land ownership such as reserves, demolitions, forest land
f. talk to neighbours understand if any issues over land
g. confirm pricing either via Nation’s Thursday property guide or visiting nearby shopping centre
h. above all, visit the plot/land you intend to buy wherever possible.
Get the owner to show you the title deed. Note the title deed number and the size of plot/land. Note that 1 hectare 2.47 acres. ¼ acre is therefore 0.24 hectares. Note that some surveyors can and do understate acreage
Take a photocopy of the title deed and take the same to the local district land registry where you will pay Ksh500 for a search. The search is a land registry document that confirms if there are any caveats from bank, other buyers or relatives.
There are occasions when owner may legitimately not have a title deed. The only legitimate reason is inherited plot/land. Certificates are tricky because there is a trade off between legit certificates that can easily be converted to title deeds and certificates of ownership that are in perpetuity
It favours you often to have a sale agreement that has the legal back up. If you are buying plot/land worth Ksh1m plus, the lawyer costs can to around 30-40k. I think it is worth it.
You will need original and copies of your ID, KRA PIN (which you can no longer obtain without an ID). You will also need 4 passport photos from buyer and seller.
Don’t bribe to get paperwork processed faster. For example special land boards will usually come back to bite you. Most land offices have the terms of service prominently displayed on the counter and its worth reminding them.
vii. Copy of owner's title deed->search->sale agreement->transfer->land board consent->stamp duty->your title deed
Pricing: Kenyans today know the worth of their land. No seller will overprice you if you make them a reasonable offer. Cash is king and if you have it, it opens doors to very reasonable price offers. As an example, most people nowadays do 10% deposit and remainder in 3 months. If you go to the seller 10% now and remainder in a month provided they drop price, it leads to a different outcome. It’s also possible to go to the same seller and offer 50% now and remainder in 6 months and they’ll favour you because of the cashflow aspect of a deal. Pointing aspects that please you and those that don’t while pointing out favourable payment terms will get the price down too.
Related costs: Stamp duty on plot/land is 2% in rural areas and 4% in urban areas. That is % of buying price or Lands’ valuation whichever is higher. Where land requires surveyor beacons, you need to add another Ksh10k though you should get the seller to these on. The costs of changing the documents tend to be around 3-4k. If you get a sale agreement, you’ll find most sellers don’t really care either way and you bear the cost 100%. All in all, these related costs will be between 3-6%.
Caveats: There is caveat emptor. You also place a caveat with Land registry if you are putting down a deposit and paying remainder much later or you fear somebody may attempt to sell your plot/land especially if you are in diaspora.
Wednesday, January 19, 2011
Monday, January 17, 2011
- The economy is growing once more at an amazing speed. Growth is not as uneven as some would have you believe. You can see progress in as devise places as Nai with multi-estates coming up every year; Kisumu with electricity even in such outposts as Sengho on the Nandi/Muhoroni border; Nanyuki with its expansion towards Naromoru and Timau; even Diani is seeing some huge real estate growth as people wake up to the huge potential of South coast. Its not just real estate growth. Businesses as diverse as greenhouse farming to new hotels are seeing good and sustained business growth. However, we are still too dependent on good weather for continued economic growth.
- Kibaki is road builder per excellente. The only that will thing stop you from doing Nai to Eldoret in under 3 hours is that you may pass on since Kenyans can't drive safely at speed and of course a few bits of new tarmac ruined by overweight trucks. Yes, Kisumu to Kakamega remains neglected still, but I can safely say it is one of the few bits of bad road I encountered in a tour that took in some 2-3,000 kms of roads
- Corruption remains big and bold issue: I was asked for bribes a record 4 times in one holiday. Imagine the I land at JKIA, as I pass through the obligatory custom check and after the usual queries about what I am carrying, the custom guy asks for my passport. As soon as he saw my name, the conversation was surreal. The customer guy to his colleague who was about to inspect my wife's cases "we, hawa wako pamoja, wacha waende". Then he turns to me in kiuk and says "Maina, what you'll do is buy 3 beers" then to a kalau standing by. "Wewe enda na huyu atakupatia pombe tatu". The custom guy is obviously from the Sonko school i.e. not too bright. As soon as I get outside and I am there with waiting family, the cop is prodding me on the back ati "si ulete pombe tatu". I just said loudly, "unataka ni kuhonge". And he practically ran-off. Corruption is now seen especially in mashinani as the only way to get service when you encounter public servants. This has in effect created a real problem in tackling the issue because the giver and taker of bribes almost think alike. Lakini if you pay taxes, and still pay bribes, its like paying your worker a salary and then bribing him to do a task for you.
- There is a now a huge political disunity among Kenyans which poses questions about 2012. Many uniformly agree that our politicians are a problem and sow the seeds of disharmony and yet when they are asked to, they'll back their tribesmen without questions. The Ocampo announcement day was very instructive in this respect. Before and immediately the announcement was made, Kenyans almost to a man were agreed that the guilty must carry their crosses, that Ocampo and the ICC were impartial and that Kenyans would not support impunity. In contrast, the first MP to be questioned about it, said "Ocampo has totally failed, he has targeted Nandis". Two things wrong with this, firstly, there was no challenge from the Citizen reporter since the 6 also include 2 gema and one somali. Secondly, even other politicians who came after were similarly one-eyed. By the end of the week, you would hear similar views from mashinani guys.