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KCB and NBK material announcement
Ericsson
#141 Posted : Thursday, July 11, 2019 11:56:23 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,620
Location: NAIROBI
NBK on upward trajectory.
Is KCB revising the acquisition price from 3.801 to 6.1?
KaunganaDoDo
#142 Posted : Thursday, July 11, 2019 12:04:42 PM
Rank: Member


Joined: 8/6/2018
Posts: 187
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...
Ericsson
#143 Posted : Thursday, July 11, 2019 12:10:55 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,620
Location: NAIROBI
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


Fully agree.
The NBK board where none of the directors has any shareholding in the bank.
Ericsson
#144 Posted : Thursday, July 11, 2019 12:21:35 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,620
Location: NAIROBI
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


NSSF is not happy with the dilution they got during the conversion of NBK's preference to ordinary shares
VituVingiSana
#145 Posted : Thursday, July 11, 2019 2:07:31 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,512
Location: Nairobi
Ericsson wrote:
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


NSSF is not happy with the dilution they got during the conversion of NBK's preference to ordinary shares
Without new cash/equity, NBK is going to die.
If NSSF was a private fund and wasn't playing around with taxpayers' money, I would have told them to buy the others out and rescue NBK...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
KaunganaDoDo
#146 Posted : Thursday, July 11, 2019 2:22:25 PM
Rank: Member


Joined: 8/6/2018
Posts: 187
VituVingiSana wrote:
Ericsson wrote:
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


NSSF is not happy with the dilution they got during the conversion of NBK's preference to ordinary shares
Without new cash/equity, NBK is going to die.
If NSSF was a private fund and wasn't playing around with taxpayers' money, I would have told them to buy the others out and rescue NBK...


Its not taxpayers' money but Pensioners. Their first priority was capitalization . They dont want to lose the crown jewel, like the British lost India in 1947, ending their superpower. Since NBK has to call for a Special General Meeting, There is possibility people will bolt from this marriage at the Altar
obiero
#147 Posted : Thursday, July 11, 2019 6:48:47 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,374
Location: nairobi
KaunganaDoDo wrote:
VituVingiSana wrote:
Ericsson wrote:
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


NSSF is not happy with the dilution they got during the conversion of NBK's preference to ordinary shares
Without new cash/equity, NBK is going to die.
If NSSF was a private fund and wasn't playing around with taxpayers' money, I would have told them to buy the others out and rescue NBK...


Its not taxpayers' money but Pensioners. Their first priority was capitalization . They dont want to lose the crown jewel, like the British lost India in 1947, ending their superpower. Since NBK has to call for a Special General Meeting, There is possibility people will bolt from this marriage at the Altar

You are stating an impossibility.. The marriage has already taken place!
COOP 5,500 ABP12.6; HF 2,000 ABP 5.90; KCB 7,500 ABP 36; KNRE 100,000 ABP 2.90; KQ 221,100 ABP 12.68
VituVingiSana
#148 Posted : Thursday, July 11, 2019 11:41:32 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,512
Location: Nairobi
KaunganaDoDo wrote:
VituVingiSana wrote:
Ericsson wrote:
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


NSSF is not happy with the dilution they got during the conversion of NBK's preference to ordinary shares
Without new cash/equity, NBK is going to die.
If NSSF was a private fund and wasn't playing around with taxpayers' money, I would have told them to buy the others out and rescue NBK...

Its not taxpayers' money but Pensioners. Their first priority was capitalization . They dont want to lose the crown jewel, like the British lost India in 1947, ending their superpower. Since NBK has to call for a Special General Meeting, There is possibility people will bolt from this marriage at the Altar
Potatoh/Potahto ... It is taxpayers money at the end.
1) Anyone who ever paid into NSSF - usually through the deductions made from payroll - is owed money.
2) A shortfall in NSSF will probably be covered by GoK using debt, printing money or increased taxation.
3) Debt taken by GoK will have to be paid off by taxpayers.

Perhaps the best thing is to let NBK die and the NSSF takes the lumps. Pumping in more (pensioner/taxpayer) money into NBK is what I dread.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#149 Posted : Friday, July 12, 2019 5:09:23 AM
Rank: Elder


Joined: 6/23/2009
Posts: 12,374
Location: nairobi
VituVingiSana wrote:
KaunganaDoDo wrote:
VituVingiSana wrote:
Ericsson wrote:
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


NSSF is not happy with the dilution they got during the conversion of NBK's preference to ordinary shares
Without new cash/equity, NBK is going to die.
If NSSF was a private fund and wasn't playing around with taxpayers' money, I would have told them to buy the others out and rescue NBK...

Its not taxpayers' money but Pensioners. Their first priority was capitalization . They dont want to lose the crown jewel, like the British lost India in 1947, ending their superpower. Since NBK has to call for a Special General Meeting, There is possibility people will bolt from this marriage at the Altar
Potatoh/Potahto ... It is taxpayers money at the end.
1) Anyone who ever paid into NSSF - usually through the deductions made from payroll - is owed money.
2) A shortfall in NSSF will probably be covered by GoK using debt, printing money or increased taxation.
3) Debt taken by GoK will have to be paid off by taxpayers.

Perhaps the best thing is to let NBK die and the NSSF takes the lumps. Pumping in more (pensioner/taxpayer) money into NBK is what I dread.

1. There's a difference between taxpayer and pensioner pool of funds. Unless you mean NHIF is also NSSF.. Potato potato?
2. NSSF with its total portfolio would never seek GoK assistance in printing of funds over a small matter such as NBK..
COOP 5,500 ABP12.6; HF 2,000 ABP 5.90; KCB 7,500 ABP 36; KNRE 100,000 ABP 2.90; KQ 221,100 ABP 12.68
FUNKY
#150 Posted : Friday, July 12, 2019 8:48:53 AM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,542
KaunganaDoDo
#151 Posted : Friday, July 12, 2019 9:21:43 AM
Rank: Member


Joined: 8/6/2018
Posts: 187
VituVingiSana wrote:
KaunganaDoDo wrote:
VituVingiSana wrote:
Ericsson wrote:
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


NSSF is not happy with the dilution they got during the conversion of NBK's preference to ordinary shares
Without new cash/equity, NBK is going to die.
If NSSF was a private fund and wasn't playing around with taxpayers' money, I would have told them to buy the others out and rescue NBK...

Its not taxpayers' money but Pensioners. Their first priority was capitalization . They dont want to lose the crown jewel, like the British lost India in 1947, ending their superpower. Since NBK has to call for a Special General Meeting, There is possibility people will bolt from this marriage at the Altar
Potatoh/Potahto ... It is taxpayers money at the end.
1) Anyone who ever paid into NSSF - usually through the deductions made from payroll - is owed money.
2) A shortfall in NSSF will probably be covered by GoK using debt, printing money or increased taxation.
3) Debt taken by GoK will have to be paid off by taxpayers.

Perhaps the best thing is to let NBK die and the NSSF takes the lumps. Pumping in more (pensioner/taxpayer) money into NBK is what I dread.


NSSF is owned by contributions from members, both in private and public offices...Its not bankrolled by the treasury...its not the treasury which does fund management...its the reason NBK was not classified as a parastatal ...
Pesa Nane
#152 Posted : Friday, July 12, 2019 10:38:32 AM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
Pesa Nane
#153 Posted : Friday, July 12, 2019 10:40:20 AM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
Pesa Nane
#154 Posted : Friday, July 12, 2019 10:43:57 AM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
Pesa Nane
#155 Posted : Friday, July 12, 2019 10:45:53 AM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
VituVingiSana
#156 Posted : Friday, July 12, 2019 1:43:03 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,512
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
KaunganaDoDo wrote:
VituVingiSana wrote:
Ericsson wrote:
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


NSSF is not happy with the dilution they got during the conversion of NBK's preference to ordinary shares
Without new cash/equity, NBK is going to die.
If NSSF was a private fund and wasn't playing around with taxpayers' money, I would have told them to buy the others out and rescue NBK...

Its not taxpayers' money but Pensioners. Their first priority was capitalization . They dont want to lose the crown jewel, like the British lost India in 1947, ending their superpower. Since NBK has to call for a Special General Meeting, There is possibility people will bolt from this marriage at the Altar
Potatoh/Potahto ... It is taxpayers money at the end.
1) Anyone who ever paid into NSSF - usually through the deductions made from payroll - is owed money.
2) A shortfall in NSSF will probably be covered by GoK using debt, printing money or increased taxation.
3) Debt taken by GoK will have to be paid off by taxpayers.

Perhaps the best thing is to let NBK die and the NSSF takes the lumps. Pumping in more (pensioner/taxpayer) money into NBK is what I dread.

1. There's a difference between taxpayer and pensioner pool of funds. Unless you mean NHIF is also NSSF.. Potato potato?
2. NSSF with its total portfolio would never seek GoK assistance in printing of funds over a small matter such as NBK..
Perhaps NSSF should also buy another perennial loss-making firm Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#157 Posted : Friday, July 12, 2019 1:46:44 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,512
Location: Nairobi
KaunganaDoDo wrote:
VituVingiSana wrote:
KaunganaDoDo wrote:
VituVingiSana wrote:
Ericsson wrote:
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


NSSF is not happy with the dilution they got during the conversion of NBK's preference to ordinary shares
Without new cash/equity, NBK is going to die.
If NSSF was a private fund and wasn't playing around with taxpayers' money, I would have told them to buy the others out and rescue NBK...

Its not taxpayers' money but Pensioners. Their first priority was capitalization . They dont want to lose the crown jewel, like the British lost India in 1947, ending their superpower. Since NBK has to call for a Special General Meeting, There is possibility people will bolt from this marriage at the Altar
Potatoh/Potahto ... It is taxpayers money at the end.
1) Anyone who ever paid into NSSF - usually through the deductions made from payroll - is owed money.
2) A shortfall in NSSF will probably be covered by GoK using debt, printing money or increased taxation.
3) Debt taken by GoK will have to be paid off by taxpayers.

Perhaps the best thing is to let NBK die and the NSSF takes the lumps. Pumping in more (pensioner/taxpayer) money into NBK is what I dread.


NSSF is owned by contributions from members, both in private and public offices...Its not bankrolled by the treasury...its not the treasury which does fund management...its the reason NBK was not classified as a parastatal ...

Using my crystal ball, I forsee NSSF having problems paying its members unless the:
1) Retirement age is increased before one can access their money
2) The returns/payments are not indexed to inflation (Cost of Living) so the KES 100 you pay in today is "deflated" (eg to 50/-) when received.
3) Many members don't claim the benefits.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#158 Posted : Friday, July 12, 2019 1:52:22 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,620
Location: NAIROBI
VituVingiSana wrote:
KaunganaDoDo wrote:
VituVingiSana wrote:
KaunganaDoDo wrote:
VituVingiSana wrote:
Ericsson wrote:
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


NSSF is not happy with the dilution they got during the conversion of NBK's preference to ordinary shares
Without new cash/equity, NBK is going to die.
If NSSF was a private fund and wasn't playing around with taxpayers' money, I would have told them to buy the others out and rescue NBK...

Its not taxpayers' money but Pensioners. Their first priority was capitalization . They dont want to lose the crown jewel, like the British lost India in 1947, ending their superpower. Since NBK has to call for a Special General Meeting, There is possibility people will bolt from this marriage at the Altar
Potatoh/Potahto ... It is taxpayers money at the end.
1) Anyone who ever paid into NSSF - usually through the deductions made from payroll - is owed money.
2) A shortfall in NSSF will probably be covered by GoK using debt, printing money or increased taxation.
3) Debt taken by GoK will have to be paid off by taxpayers.

Perhaps the best thing is to let NBK die and the NSSF takes the lumps. Pumping in more (pensioner/taxpayer) money into NBK is what I dread.


NSSF is owned by contributions from members, both in private and public offices...Its not bankrolled by the treasury...its not the treasury which does fund management...its the reason NBK was not classified as a parastatal ...

Using my crystal ball, I forsee NSSF having problems paying its members unless the:
1) Retirement age is increased before one can access their money
2) The returns/payments are not indexed to inflation (Cost of Living) so the KES 100 you pay in today is "deflated" (eg to 50/-) when received.
3) Many members don't claim the benefits.


Not in the near future NSSF can't have problems paying it's members.
The monthly contributions they get is enough to sustain paying retirees
obiero
#159 Posted : Friday, July 12, 2019 1:55:07 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,374
Location: nairobi
Ericsson wrote:
VituVingiSana wrote:
KaunganaDoDo wrote:
VituVingiSana wrote:
KaunganaDoDo wrote:
VituVingiSana wrote:
Ericsson wrote:
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


NSSF is not happy with the dilution they got during the conversion of NBK's preference to ordinary shares
Without new cash/equity, NBK is going to die.
If NSSF was a private fund and wasn't playing around with taxpayers' money, I would have told them to buy the others out and rescue NBK...

Its not taxpayers' money but Pensioners. Their first priority was capitalization . They dont want to lose the crown jewel, like the British lost India in 1947, ending their superpower. Since NBK has to call for a Special General Meeting, There is possibility people will bolt from this marriage at the Altar
Potatoh/Potahto ... It is taxpayers money at the end.
1) Anyone who ever paid into NSSF - usually through the deductions made from payroll - is owed money.
2) A shortfall in NSSF will probably be covered by GoK using debt, printing money or increased taxation.
3) Debt taken by GoK will have to be paid off by taxpayers.

Perhaps the best thing is to let NBK die and the NSSF takes the lumps. Pumping in more (pensioner/taxpayer) money into NBK is what I dread.


NSSF is owned by contributions from members, both in private and public offices...Its not bankrolled by the treasury...its not the treasury which does fund management...its the reason NBK was not classified as a parastatal ...

Using my crystal ball, I forsee NSSF having problems paying its members unless the:
1) Retirement age is increased before one can access their money
2) The returns/payments are not indexed to inflation (Cost of Living) so the KES 100 you pay in today is "deflated" (eg to 50/-) when received.
3) Many members don't claim the benefits.


Not in the near future NSSF can't have problems paying it's members.
The monthly contributions they get is enough to sustain paying retirees

The guy is using a crystal ball. You have to believe him
COOP 5,500 ABP12.6; HF 2,000 ABP 5.90; KCB 7,500 ABP 36; KNRE 100,000 ABP 2.90; KQ 221,100 ABP 12.68
VituVingiSana
#160 Posted : Saturday, July 13, 2019 12:04:23 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,512
Location: Nairobi
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
KaunganaDoDo wrote:
VituVingiSana wrote:
KaunganaDoDo wrote:
VituVingiSana wrote:
Ericsson wrote:
KaunganaDoDo wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
[quote=FUNKY]BREAKING NEWS: The Board of National Bank of Kenya says KCB’s valuation of NBK's shares falls below its independent valuation of KSh6.10 per share. KCB had valued NBK at KSh3.801 per share. KCB has 15 days to vary its offer.
@KCBGroup @National_Bank https://t.co/16MThe5vJS[/quote]

Turning out to be be fake news

Both sets of shareholders at respective firms approved the deal.. The board of directors are primarily non shareholders, who can only issue opinion


Who are the loud mouthed Board members? If Treasury and NSSF agreed to the valuation the rest is kelele ya chura.


When you see the board members speaking, they are not speaking for themselves, its NSSF and other small shareholders speaking. The Board is just like John the Baptist, he came NOT on his own, but to bring the message from the sender, he didnt do what he did on his own. NSSF is quietly sending signals , its upto everyone to decipher the ENIGMA CODES...


NSSF is not happy with the dilution they got during the conversion of NBK's preference to ordinary shares
Without new cash/equity, NBK is going to die.
If NSSF was a private fund and wasn't playing around with taxpayers' money, I would have told them to buy the others out and rescue NBK...

Its not taxpayers' money but Pensioners. Their first priority was capitalization . They dont want to lose the crown jewel, like the British lost India in 1947, ending their superpower. Since NBK has to call for a Special General Meeting, There is possibility people will bolt from this marriage at the Altar
Potatoh/Potahto ... It is taxpayers money at the end.
1) Anyone who ever paid into NSSF - usually through the deductions made from payroll - is owed money.
2) A shortfall in NSSF will probably be covered by GoK using debt, printing money or increased taxation.
3) Debt taken by GoK will have to be paid off by taxpayers.

Perhaps the best thing is to let NBK die and the NSSF takes the lumps. Pumping in more (pensioner/taxpayer) money into NBK is what I dread.


NSSF is owned by contributions from members, both in private and public offices...Its not bankrolled by the treasury...its not the treasury which does fund management...its the reason NBK was not classified as a parastatal ...

Using my crystal ball, I forsee NSSF having problems paying its members unless the:
1) Retirement age is increased before one can access their money
2) The returns/payments are not indexed to inflation (Cost of Living) so the KES 100 you pay in today is "deflated" (eg to 50/-) when received.
3) Many members don't claim the benefits.


Not in the near future NSSF can't have problems paying it's members.
The monthly contributions they get is enough to sustain paying retirees

The guy is using a crystal ball. You have to believe him

Watch & Learn Laughing out loudly
I expect #1 to happen first. "Retirement age is increased before one can access their money"
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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