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Centum 2019/2020
VituVingiSana
#61 Posted : Sunday, February 23, 2020 11:09:40 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,869
Location: Nairobi
kawi254 wrote:
KaunganaDoDo wrote:
kawi254 wrote:
KaunganaDoDo wrote:
VituVingiSana wrote:
KaunganaDoDo wrote:
Ericsson wrote:
Angelica _ann wrote:
Fyatu wrote:
VituVingiSana wrote:
Ericsson wrote:
The European Investment Bank (EIB) has cancelled a sh.19.5 billion loan offer to a firm partly owned by Centum Investments over viability and environmental concerns raised by lobbies.
The EIB East Africa head Catherine Collin had last year said the Euros 155 million (Sh.19.5 billion) generation financing package to Akiira Geothermal Ltd "will be finalised soon."
The Centum consortium was expected to contribute sh.11.7 billion or 30% of the project's cost of sh.39 billion while the rest would be funded through commercial loans.
The EIB Deputy Head of Division Joan ManuelSterlin Balenciaga,however,said in communique dated October 10:"After careful consideration and due to the fact that the EIB has seen no progress on the Akiira Geothermal expansion project over the past three years,the EIB has formally decided not to pursue the appraisal of the project."
It's time for Centum to make a 100% provision for Akiira and Amu.



When Centum were offloading Almasi, James Mworia spoke of putting the money into equities. Any idea which stocks at NSE Centum are buying? Mworia is confident that this move will push capitalisation to kshs. 100 billion ala Centum 3.0.
I'm just following the money here


Am i small fish but i saw these shenanigans coming, how the Centum gurus or any other investor in these goal plants dint see this i wonder - based on the 'new' constitution. It was bound to be a fight with the locals and human rights individuals/organizations out to eat. Lakini yote ni sawa.


This is the geothermal power plant in Menengai


Its actually proposed site at the Longonot, just after KenGen Olkaria IV. They have been burnt beyond recognition. The risk with Geothermal energy is huge at the prospective, drilling stages....you drill so many directional wells of many km, only for it to turn out dry...dry wells...or small steam capacity...and one exploratory well costs around 6M USD....This is the primary reason the government formed GDC, to derisk the geothermal energy from these kinds of risks...GDC does the exploratory drilling, once they find the steam capable of running a power plant for 25 years, they sign Steam Supply Agreement with Power Generation Companies...like what they did with KenGen(Olkaria IV and Olkaria 1 unit IV &V, 280MW) ...KenGen pays GDC 2 US cents per kWh generated...the same applies to the menengai 105MW(35MW, orpower,35MW sosian, and 35MW Quantum...) the 3 IPPs will pay GDC 2 US cents per kWh once generation starts....But greedy firms like Centum ( AGIL & Akira Marine Power)who wants everything, will lose everything when their wells turn dry...All their wells turned dry...
Isn't it better for PRIVATE firms to lose money than the TAXPAYER?

Whereas I do not want Centum to lose money, in the bigger picture I would rather see PRIVATE investments and not GoK do so given the level of debt and corruption.


Hahaha. Energy Supply is a public good. But i see your point. Kuwa na Huruma kwa Centum....Only that the public sector has more experienced Geologists and Engineers who knows the smell of steam KMs away....Even Ethiopia is using KenGen Geologists/engineers...S


Wasn't it KenGen that consulted & drilled for Akira the dry wells? I remember KenGen declaring some 1+ Billion of 'other income' from Geothermal consultancy some time back


I think KenGen leased them their drilling rigs...even if KenGen were to be the consultants, they dont take the risk...


Centum turns to KenGen in fresh geothermal quest

Centum could take that 75% PPP being offered by KenGen in Olkaria for already drilled wells and available steam instead of risking another dry well.

Looks like KenGen's side hustle of drilling is becoming a main hustle.
The ROI might not be worth it for Centum which aims for double-digit ROI according to the CEO during one of the investor briefings. Risk-Reward.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#62 Posted : Monday, February 24, 2020 1:05:20 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,158
Location: NAIROBI
VituVingiSana wrote:
kawi254 wrote:
KaunganaDoDo wrote:
kawi254 wrote:
KaunganaDoDo wrote:
VituVingiSana wrote:
KaunganaDoDo wrote:
Ericsson wrote:
Angelica _ann wrote:
Fyatu wrote:
VituVingiSana wrote:
Ericsson wrote:
The European Investment Bank (EIB) has cancelled a sh.19.5 billion loan offer to a firm partly owned by Centum Investments over viability and environmental concerns raised by lobbies.
The EIB East Africa head Catherine Collin had last year said the Euros 155 million (Sh.19.5 billion) generation financing package to Akiira Geothermal Ltd "will be finalised soon."
The Centum consortium was expected to contribute sh.11.7 billion or 30% of the project's cost of sh.39 billion while the rest would be funded through commercial loans.
The EIB Deputy Head of Division Joan ManuelSterlin Balenciaga,however,said in communique dated October 10:"After careful consideration and due to the fact that the EIB has seen no progress on the Akiira Geothermal expansion project over the past three years,the EIB has formally decided not to pursue the appraisal of the project."
It's time for Centum to make a 100% provision for Akiira and Amu.



When Centum were offloading Almasi, James Mworia spoke of putting the money into equities. Any idea which stocks at NSE Centum are buying? Mworia is confident that this move will push capitalisation to kshs. 100 billion ala Centum 3.0.
I'm just following the money here


Am i small fish but i saw these shenanigans coming, how the Centum gurus or any other investor in these goal plants dint see this i wonder - based on the 'new' constitution. It was bound to be a fight with the locals and human rights individuals/organizations out to eat. Lakini yote ni sawa.


This is the geothermal power plant in Menengai


Its actually proposed site at the Longonot, just after KenGen Olkaria IV. They have been burnt beyond recognition. The risk with Geothermal energy is huge at the prospective, drilling stages....you drill so many directional wells of many km, only for it to turn out dry...dry wells...or small steam capacity...and one exploratory well costs around 6M USD....This is the primary reason the government formed GDC, to derisk the geothermal energy from these kinds of risks...GDC does the exploratory drilling, once they find the steam capable of running a power plant for 25 years, they sign Steam Supply Agreement with Power Generation Companies...like what they did with KenGen(Olkaria IV and Olkaria 1 unit IV &V, 280MW) ...KenGen pays GDC 2 US cents per kWh generated...the same applies to the menengai 105MW(35MW, orpower,35MW sosian, and 35MW Quantum...) the 3 IPPs will pay GDC 2 US cents per kWh once generation starts....But greedy firms like Centum ( AGIL & Akira Marine Power)who wants everything, will lose everything when their wells turn dry...All their wells turned dry...
Isn't it better for PRIVATE firms to lose money than the TAXPAYER?

Whereas I do not want Centum to lose money, in the bigger picture I would rather see PRIVATE investments and not GoK do so given the level of debt and corruption.


Hahaha. Energy Supply is a public good. But i see your point. Kuwa na Huruma kwa Centum....Only that the public sector has more experienced Geologists and Engineers who knows the smell of steam KMs away....Even Ethiopia is using KenGen Geologists/engineers...S


Wasn't it KenGen that consulted & drilled for Akira the dry wells? I remember KenGen declaring some 1+ Billion of 'other income' from Geothermal consultancy some time back


I think KenGen leased them their drilling rigs...even if KenGen were to be the consultants, they dont take the risk...


Centum turns to KenGen in fresh geothermal quest

Centum could take that 75% PPP being offered by KenGen in Olkaria for already drilled wells and available steam instead of risking another dry well.

Looks like KenGen's side hustle of drilling is becoming a main hustle.
The ROI might not be worth it for Centum which aims for double-digit ROI according to the CEO during one of the investor briefings. Risk-Reward.


And now the government wants to remove the capacity/fixed charge for IPPs.
IPPs will be paid only for the power they sell to kenya power
VituVingiSana
#63 Posted : Monday, February 24, 2020 2:59:56 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,869
Location: Nairobi
Without solvent captive buyers - in this case KPLC and a PPA - in the bag, the risk of a project is higher.
This is true for most projects whether the buyers are wholesale or retail.

KPLC has millions of captive buyers of its power but they are limited in what quantity they need to buy and at what price they will pay. Electricity can be substituted for some uses e.g. cooking with LPG instead of electricity.

Or at a high enough price, some e.g. cement producers may set up power plants since they are themselves large CAPTIVE users and a well-designed and right-sized plant should break-even with the cement plant's needs.

Does Centum have a PPA for Akiira? Yes (Investor Briefing)
Is this PPA limited to "Akiira"? Perhaps and if so then it may not be transferable to another area/SPV.

Does KenGen have a PPA for the 140MW project?
https://www.businessdail...twitter_impression=true
If yes, then the project's attractiveness just went up vs one without a PPA
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
xtina
#64 Posted : Monday, February 24, 2020 1:47:59 PM
Rank: Member


Joined: 6/26/2008
Posts: 312
Dang, levels last seen in 2018

ICDC • 26.85 ▾ 0.35 (-1.29%)
VituVingiSana
#65 Posted : Monday, February 24, 2020 5:56:21 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,869
Location: Nairobi
xtina wrote:
Dang, levels last seen in 2018

ICDC • 26.85 ▾ 0.35 (-1.29%)
The deluge! Laughing out loudly
Good for buyers though given the "health" of Centum in Feb 2020 looks better than 2018.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#66 Posted : Wednesday, February 26, 2020 12:10:09 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,869
Location: Nairobi
Centum fights Mbiyu family in Two Rivers land dispute
https://www.businessdail...968-10flthjz/index.html
25.50 today
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
rwitre
#67 Posted : Wednesday, March 11, 2020 7:08:23 PM
Rank: Member


Joined: 3/8/2018
Posts: 405
Location: Nairobi
23.20 Laughing out loudly

Hii soko hii
VituVingiSana
#68 Posted : Wednesday, March 11, 2020 7:11:00 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,869
Location: Nairobi
rwitre wrote:
23.20 Laughing out loudly

Hii soko hii
Kabisa!Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Fyatu
#69 Posted : Wednesday, March 11, 2020 8:27:33 PM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,705
Location: Nakuru
rwitre wrote:
23.20 Laughing out loudly

Hii soko hii


Pesa Ongeh
Dumb money becomes dumb only when it listens to smart money
watesh
#70 Posted : Thursday, March 12, 2020 12:45:40 PM
Rank: Member


Joined: 8/10/2014
Posts: 792
Location: Kenya
22 printed today
Ericsson
#71 Posted : Monday, March 23, 2020 4:48:09 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,158
Location: NAIROBI
https://kenyanwallstreet...ire-50-stake-in-centum/
Kenya’s capital market regulator has given a go-ahead to allow businessman Christopher Kirubi to acquire up to 49.99 percent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders.

A statement from the listed firm notes that the exemption will see Dr Kirubi progressively raise his shareholding in Centum from the current 30 per cent threshold in open market transactions.

According to the billionaire businessman, the intended additional acquisition indicates his “strong vote of confidence in the future prospects and long-term strategic direction of the company,” adding that his target is to acquire the additional shares subject to their availability in the open market.

The exemption to acquire additional shares without triggering a mandatory takeover offer is in line with the CMA’s policy initiative of encouraging unrestricted demand for shares in publicly listed companies, which helps in price discovery of listed stocks.

Dr Kirubi currently sits on the board of Centum as a director and has been a key shareholder of the company for more than 20 years.

The CMA also aims to enable shareholders to continue to publicly support companies that they are already invested in, while facilitating increased market liquidity.

Centum says the exemption has been granted on the condition that all trading in Centum shares shall continue to be in compliance with all regulatory requirements relating to insider trading.
watesh
#72 Posted : Monday, March 23, 2020 4:50:47 PM
Rank: Member


Joined: 8/10/2014
Posts: 792
Location: Kenya
The old man is ruining the party!! Now that stock wont drop since he will be swallowing everything everyone dumps.....Centum has 11bn in cash to make some really really good buys.
VituVingiSana
#73 Posted : Monday, March 23, 2020 7:33:00 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,869
Location: Nairobi
watesh wrote:
The old man is ruining the party!! Now that stock wont drop since he will be swallowing everything everyone dumps.....Centum has 11bn in cash to make some really really good buys.
CK is using his cash but it would have been better for existing shareholders if it was a share buyback.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
nairobby
#74 Posted : Tuesday, March 24, 2020 8:57:06 AM
Rank: Member


Joined: 1/18/2019
Posts: 171
Location: kenya
VituVingiSana wrote:
watesh wrote:
The old man is ruining the party!! Now that stock wont drop since he will be swallowing everything everyone dumps.....Centum has 11bn in cash to make some really really good buys.
CK is using his cash but it would have been better for existing shareholders if it was a share buyback.


While it's not a buyback. I'm looking at Kirubi's play from the same lens. Remember buybacks aren't permitted over here by law. I think it's time to start accumulating this stock
Receptor
#75 Posted : Tuesday, March 24, 2020 9:09:49 AM
Rank: New-farer


Joined: 7/1/2019
Posts: 40
Ericsson wrote:
https://kenyanwallstreet.com/regulator-approves-chris-kirubi-to-acquire-50-stake-in-centum/
Kenya’s capital market regulator has given a go-ahead to allow businessman Christopher Kirubi to acquire up to 49.99 percent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders.

A statement from the listed firm notes that the exemption will see Dr Kirubi progressively raise his shareholding in Centum from the current 30 per cent threshold in open market transactions.

According to the billionaire businessman, the intended additional acquisition indicates his “strong vote of confidence in the future prospects and long-term strategic direction of the company,” adding that his target is to acquire the additional shares subject to their availability in the open market.

The exemption to acquire additional shares without triggering a mandatory takeover offer is in line with the CMA’s policy initiative of encouraging unrestricted demand for shares in publicly listed companies, which helps in price discovery of listed stocks.

Dr Kirubi currently sits on the board of Centum as a director and has been a key shareholder of the company for more than 20 years.

The CMA also aims to enable shareholders to continue to publicly support companies that they are already invested in, while facilitating increased market liquidity.


Centum says the exemption has been granted on the condition that all trading in Centum shares shall continue to be in compliance with all regulatory requirements relating to insider trading.


This is how markets are rigged. The big shareholder tries to control the price of a share in the midst of a global crisis. Suspicious pump and dump strategy by Kirubi.
VituVingiSana
#76 Posted : Tuesday, March 24, 2020 9:12:48 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,869
Location: Nairobi
nairobby wrote:
VituVingiSana wrote:
watesh wrote:
The old man is ruining the party!! Now that stock wont drop since he will be swallowing everything everyone dumps.....Centum has 11bn in cash to make some really really good buys.
CK is using his cash but it would have been better for existing shareholders if it was a share buyback.

While it's not a buyback. I'm looking at Kirubi's play from the same lens. Remember buybacks aren't permitted over here by law. I think it's time to start accumulating this stock
I am trying to wrap my head around this. Which law - please help me out by providing the sections (not hearsay/articles) - prohibits share buybacks? Thanks.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#77 Posted : Tuesday, March 24, 2020 9:14:24 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,869
Location: Nairobi
Receptor wrote:
Ericsson wrote:
https://kenyanwallstreet.com/regulator-approves-chris-kirubi-to-acquire-50-stake-in-centum/
Kenya’s capital market regulator has given a go-ahead to allow businessman Christopher Kirubi to acquire up to 49.99 percent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders.

A statement from the listed firm notes that the exemption will see Dr Kirubi progressively raise his shareholding in Centum from the current 30 per cent threshold in open market transactions.

According to the billionaire businessman, the intended additional acquisition indicates his “strong vote of confidence in the future prospects and long-term strategic direction of the company,” adding that his target is to acquire the additional shares subject to their availability in the open market.

The exemption to acquire additional shares without triggering a mandatory takeover offer is in line with the CMA’s policy initiative of encouraging unrestricted demand for shares in publicly listed companies, which helps in price discovery of listed stocks.

Dr Kirubi currently sits on the board of Centum as a director and has been a key shareholder of the company for more than 20 years.

The CMA also aims to enable shareholders to continue to publicly support companies that they are already invested in, while facilitating increased market liquidity.


Centum says the exemption has been granted on the condition that all trading in Centum shares shall continue to be in compliance with all regulatory requirements relating to insider trading.

This is how markets are rigged. The big shareholder tries to control the price of a share in the midst of a global crisis. Suspicious pump and dump strategy by Kirubi.
I am trying to wrap my head around this. Please clarify the pump and dump strategy he is using? Thanks.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Receptor
#78 Posted : Tuesday, March 24, 2020 9:18:59 AM
Rank: New-farer


Joined: 7/1/2019
Posts: 40
VituVingiSana wrote:
Receptor wrote:
Ericsson wrote:
https://kenyanwallstreet.com/regulator-approves-chris-kirubi-to-acquire-50-stake-in-centum/
Kenya’s capital market regulator has given a go-ahead to allow businessman Christopher Kirubi to acquire up to 49.99 percent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders.

A statement from the listed firm notes that the exemption will see Dr Kirubi progressively raise his shareholding in Centum from the current 30 per cent threshold in open market transactions.

According to the billionaire businessman, the intended additional acquisition indicates his “strong vote of confidence in the future prospects and long-term strategic direction of the company,” adding that his target is to acquire the additional shares subject to their availability in the open market.

The exemption to acquire additional shares without triggering a mandatory takeover offer is in line with the CMA’s policy initiative of encouraging unrestricted demand for shares in publicly listed companies, which helps in price discovery of listed stocks.

Dr Kirubi currently sits on the board of Centum as a director and has been a key shareholder of the company for more than 20 years.

The CMA also aims to enable shareholders to continue to publicly support companies that they are already invested in, while facilitating increased market liquidity.


Centum says the exemption has been granted on the condition that all trading in Centum shares shall continue to be in compliance with all regulatory requirements relating to insider trading.

This is how markets are rigged. The big shareholder tries to control the price of a share in the midst of a global crisis. Suspicious pump and dump strategy by Kirubi.
I am trying to wrap my head around this. Please clarify the pump and dump strategy he is using? Thanks.


The keyword is suspicious. Nothing to clarify
nairobby
#79 Posted : Tuesday, March 24, 2020 9:46:39 AM
Rank: Member


Joined: 1/18/2019
Posts: 171
Location: kenya
VituVingiSana wrote:
nairobby wrote:
VituVingiSana wrote:
watesh wrote:
The old man is ruining the party!! Now that stock wont drop since he will be swallowing everything everyone dumps.....Centum has 11bn in cash to make some really really good buys.
CK is using his cash but it would have been better for existing shareholders if it was a share buyback.

While it's not a buyback. I'm looking at Kirubi's play from the same lens. Remember buybacks aren't permitted over here by law. I think it's time to start accumulating this stock
I am trying to wrap my head around this. Which law - please help me out by providing the sections (not hearsay/articles) - prohibits share buybacks? Thanks.


https://kenyanwallstreet...res-buy-back-regulation/
watesh
#80 Posted : Tuesday, March 24, 2020 10:02:50 AM
Rank: Member


Joined: 8/10/2014
Posts: 792
Location: Kenya
Stock price currently jacked up after that Kirubi announcement, now at 22.25. Yesterday I was buying at 19.6 and supply has dried up, demand has shot up! That announcement alone crippled the price hemorrhage today but I wonder for how long will it hold it up
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