Home SK - Stocks, Property, Investment Chamas - Investment Groups BIZ - Small Business Soko - Market Wazua Life About Wazua
SIGN IN REGISTER
Thursday, Jan 19, 2017
NellyData
FEATURE  

LATEST DISCUSSIONS
UNEP and the Economy of Nairobi [3]
Why is Africa poor in general compared to the West... [337]
Realities of Forex Investment [3584]
Kenya Airways...why ignore.. [6894]
directional forecast [521]
Briatm, Britam, Britam sounds like sweet candy! [1076]
Eye on I&,M ... [59]
Kenya Economy Watch [1328]
Elliott Wave Analysis Of The NSE 20 [2411]
Atlas African Industries ltd HY16 [53]
Treasury Bills and Bonds [507]
Banque de Kigali [433]
Housing Finance: HFCK a diamond in the rough [1627]
KCB buy buy buy [537]
The KenolKobil 2015 pendulum [1332]
 
Forum Jump








Welcome Guest Search | Active Topics | Log In | Register

254 Pages«<250251252253254>
Investors Lounge
Angelica _ann
#5021 Posted : Monday, November 21, 2016 3:30:43 PM
Rank: Elder


Joined: 12/7/2012
Posts: 6,253
hisah wrote:
Nigeria Proposes Jail Time, Fines as It Tries to Boost Naira

Quote:
Nigeria plans to give the central bank more power to control capital flows and prevent foreign-exchange being taken out of the country, including jail time and fines for offenders as authorities battle a shortage of dollars.


Welcome to USD dragon madness central. A lot of stupid capital controls coming up as govts struggle to find USD to pay back their heavy debts.

I hope we ... Kenya will not be caught in this mess, any insights?
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
hisah
#5022 Posted : Monday, November 21, 2016 3:47:30 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,668
Angelica _ann wrote:
hisah wrote:
Nigeria Proposes Jail Time, Fines as It Tries to Boost Naira

Quote:
Nigeria plans to give the central bank more power to control capital flows and prevent foreign-exchange being taken out of the country, including jail time and fines for offenders as authorities battle a shortage of dollars.


Welcome to USD dragon madness central. A lot of stupid capital controls coming up as govts struggle to find USD to pay back their heavy debts.

I hope we ... Kenya will not be caught in this mess, any insights?

The eurobond. Watch it.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
lochaz-index
#5023 Posted : Monday, November 21, 2016 7:12:58 PM
Rank: Member


Joined: 9/18/2014
Posts: 536
Angelica _ann wrote:
hisah wrote:
Nigeria Proposes Jail Time, Fines as It Tries to Boost Naira

Quote:
Nigeria plans to give the central bank more power to control capital flows and prevent foreign-exchange being taken out of the country, including jail time and fines for offenders as authorities battle a shortage of dollars.


Welcome to USD dragon madness central. A lot of stupid capital controls coming up as govts struggle to find USD to pay back their heavy debts.

I hope we ... Kenya will not be caught in this mess, any insights?

I also share the same hope, however I prefer to acquaint myself with reality and if possible try to profit off of it.

KE is most certainly in this mess. The only part we skipped is the commodity/oil dependence part that is currently crushing most developing economies. The next part of the show will be a bit more inclusive.

If KES gets through next year in under 120 to the dollar we should thank our lucky stars.
The main purpose of the stock market is to make fools of as many people as possible.
lochaz-index
#5024 Posted : Monday, November 21, 2016 7:40:52 PM
Rank: Member


Joined: 9/18/2014
Posts: 536
lochaz-index wrote:
lochaz-index wrote:
lochaz-index wrote:
The naira has been through one tough roller coaster. The official devaluation downgraded it from 190 to 300+ vs the dollar in four months(June through to September) whilst the black market rate is still north of 400 having clocked a gruesome 436 about two weeks ago.

Having extended a zero interest loan to Nigeria, the IMF is pressing for further debasement and a fuel hike.

http://www.vanguardngr.c...itions-tough-handle-fg/

KE has taken two precautionary loans in two years, will it find itself in the same predicament in one years time?

African currencies are having a torrid time especially the ones with fixed pegs. The Egyptian pound is falling like a rock and is still expected to fall some more.
Quote:
Abdel Aal expects the CBE to follow the controlled flotation and drop the Egyptian pound’s value down against the US dollar by 30%, either once or twice.

More fx expenditures than revenue means the CBE doesn't have the ammo to float the currency despite the IMF's insistence.

The next 18-24 months are promising to be excruciating for developing economies and their currencies more so the African ones.

The fx market is a reliable pulse reader of coming moves in the financial world. Recent actions imply some heavy weight action is on the way probably in the bond market.
http://www.dailynewsegyp...ial-request-borrow-imf/


Take 3: at the bottom of the the sovereign bond barrel, Mozambique officially issues an SOS to its creditors. Will it be a soft default via debt restructuring as so desired or an outright default? Either way it has good company in the form of Venezuela.

Their debt to GDP ratio is projected to close at 130% by end of 2016. A developed nation can try to juggle this kind of debt, but for a developing economy it is toxic. This has grown from 62.4% in 2014, 53.1% in 2013 and 38.1% in 2011. Ring a bell? KE had better watch out. Things went south in a two year window and now they are in distress.

The metical lost 30% vs the dollar in 2015 and a further 70% this year which ballooned their debt. With inflation at a scorching 16.7% (from 2.4% in 2015), the BdM has hiked its rate to circa 23%.

http://www.wsj.com/artic...estructuring-1477418742

EA economies and currencies have held their ground quite admirably in 2016, will they manage the same feat?

Take 4: Bank of Ghana cuts its rate (cbr equivalent) to 25.5% from 26%. Inflation still at a head spinning 15.8%. Cedi is a little stable but still skidding nonetheless.
http://www.bloomberg.com...k-first-time-since-2011
Considering the fate of pegs and caps is always the same i.e. they both fall by the wayside eventually, the KE interest rate caps are going to have a short shelf life.

In addition, looked at through the global 5000 year prism, interest rates are set to rise - caps or no caps.

If we get crazy inflation next year and KES weakens excessively vs USD, the caps are going to look ridiculous at some point.
The main purpose of the stock market is to make fools of as many people as possible.
lochaz-index
#5025 Posted : Wednesday, November 23, 2016 6:57:40 PM
Rank: Member


Joined: 9/18/2014
Posts: 536
Private sector credit growth in KE contracts for the 14th consecutive month.
Quote:
Lending to the private sector slowed for the 14th consecutive month in September, central bank data published this week show. In August, President Uhuru Kenyatta signed a law that capped banks’ loan charges at four percentage points above the benchmark central bank rate, which is currently 10 percent.

This is the pre-caps trend yet there was no KES strength. Banks have since taken to govt securities enmasse in the post-caps period.
https://www.bloomberg.co...-growth-in-2017-imf-says
The main purpose of the stock market is to make fools of as many people as possible.
lochaz-index
#5026 Posted : Friday, November 25, 2016 3:12:34 PM
Rank: Member


Joined: 9/18/2014
Posts: 536
lochaz-index wrote:
lochaz-index wrote:
lochaz-index wrote:
lochaz-index wrote:
The naira has been through one tough roller coaster. The official devaluation downgraded it from 190 to 300+ vs the dollar in four months(June through to September) whilst the black market rate is still north of 400 having clocked a gruesome 436 about two weeks ago.

Having extended a zero interest loan to Nigeria, the IMF is pressing for further debasement and a fuel hike.

http://www.vanguardngr.c...itions-tough-handle-fg/

KE has taken two precautionary loans in two years, will it find itself in the same predicament in one years time?

African currencies are having a torrid time especially the ones with fixed pegs. The Egyptian pound is falling like a rock and is still expected to fall some more.
Quote:
Abdel Aal expects the CBE to follow the controlled flotation and drop the Egyptian pound’s value down against the US dollar by 30%, either once or twice.

More fx expenditures than revenue means the CBE doesn't have the ammo to float the currency despite the IMF's insistence.

The next 18-24 months are promising to be excruciating for developing economies and their currencies more so the African ones.

The fx market is a reliable pulse reader of coming moves in the financial world. Recent actions imply some heavy weight action is on the way probably in the bond market.
http://www.dailynewsegyp...ial-request-borrow-imf/


Take 3: at the bottom of the the sovereign bond barrel, Mozambique officially issues an SOS to its creditors. Will it be a soft default via debt restructuring as so desired or an outright default? Either way it has good company in the form of Venezuela.

Their debt to GDP ratio is projected to close at 130% by end of 2016. A developed nation can try to juggle this kind of debt, but for a developing economy it is toxic. This has grown from 62.4% in 2014, 53.1% in 2013 and 38.1% in 2011. Ring a bell? KE had better watch out. Things went south in a two year window and now they are in distress.

The metical lost 30% vs the dollar in 2015 and a further 70% this year which ballooned their debt. With inflation at a scorching 16.7% (from 2.4% in 2015), the BdM has hiked its rate to circa 23%.

http://www.wsj.com/artic...estructuring-1477418742

EA economies and currencies have held their ground quite admirably in 2016, will they manage the same feat?

Take 4: Bank of Ghana cuts its rate (cbr equivalent) to 25.5% from 26%. Inflation still at a head spinning 15.8%. Cedi is a little stable but still skidding nonetheless.
http://www.bloomberg.com...k-first-time-since-2011
Considering the fate of pegs and caps is always the same i.e. they both fall by the wayside eventually, the KE interest rate caps are going to have a short shelf life.

In addition, looked at through the global 5000 year prism, interest rates are set to rise - caps or no caps.

If we get crazy inflation next year and KES weakens excessively vs USD, the caps are going to look ridiculous at some point.

Take 5: Libya is still smouldering 5 years after the uprising. One hell of a devaluation awaits the dinar.
Quote:
The dinar has been steadily weakening on the black market over the past year as the nation’s political rifts thwarted a recovery in oil output. It hit a record low of 7 to the dollar this week, according to currency dealers in Tripoli. The official rate is 1.4.

Inflation is North of 20%.

https://t.co/mwK9jiw6fD

Can't catch a break now, can they?
The main purpose of the stock market is to make fools of as many people as possible.
Angelica _ann
#5027 Posted : Friday, November 25, 2016 4:03:15 PM
Rank: Elder


Joined: 12/7/2012
Posts: 6,253
lochaz-index wrote:
lochaz-index wrote:
lochaz-index wrote:
lochaz-index wrote:
lochaz-index wrote:
The naira has been through one tough roller coaster. The official devaluation downgraded it from 190 to 300+ vs the dollar in four months(June through to September) whilst the black market rate is still north of 400 having clocked a gruesome 436 about two weeks ago.

Having extended a zero interest loan to Nigeria, the IMF is pressing for further debasement and a fuel hike.

http://www.vanguardngr.c...itions-tough-handle-fg/

KE has taken two precautionary loans in two years, will it find itself in the same predicament in one years time?

African currencies are having a torrid time especially the ones with fixed pegs. The Egyptian pound is falling like a rock and is still expected to fall some more.
Quote:
Abdel Aal expects the CBE to follow the controlled flotation and drop the Egyptian pound’s value down against the US dollar by 30%, either once or twice.

More fx expenditures than revenue means the CBE doesn't have the ammo to float the currency despite the IMF's insistence.

The next 18-24 months are promising to be excruciating for developing economies and their currencies more so the African ones.

The fx market is a reliable pulse reader of coming moves in the financial world. Recent actions imply some heavy weight action is on the way probably in the bond market.
http://www.dailynewsegyp...ial-request-borrow-imf/


Take 3: at the bottom of the the sovereign bond barrel, Mozambique officially issues an SOS to its creditors. Will it be a soft default via debt restructuring as so desired or an outright default? Either way it has good company in the form of Venezuela.

Their debt to GDP ratio is projected to close at 130% by end of 2016. A developed nation can try to juggle this kind of debt, but for a developing economy it is toxic. This has grown from 62.4% in 2014, 53.1% in 2013 and 38.1% in 2011. Ring a bell? KE had better watch out. Things went south in a two year window and now they are in distress.

The metical lost 30% vs the dollar in 2015 and a further 70% this year which ballooned their debt. With inflation at a scorching 16.7% (from 2.4% in 2015), the BdM has hiked its rate to circa 23%.

http://www.wsj.com/artic...estructuring-1477418742

EA economies and currencies have held their ground quite admirably in 2016, will they manage the same feat?

Take 4: Bank of Ghana cuts its rate (cbr equivalent) to 25.5% from 26%. Inflation still at a head spinning 15.8%. Cedi is a little stable but still skidding nonetheless.
http://www.bloomberg.com...k-first-time-since-2011
Considering the fate of pegs and caps is always the same i.e. they both fall by the wayside eventually, the KE interest rate caps are going to have a short shelf life.

In addition, looked at through the global 5000 year prism, interest rates are set to rise - caps or no caps.

If we get crazy inflation next year and KES weakens excessively vs USD, the caps are going to look ridiculous at some point.

Take 5: Libya is still smouldering 5 years after the uprising. One hell of a devaluation awaits the dinar.
Quote:
The dinar has been steadily weakening on the black market over the past year as the nation’s political rifts thwarted a recovery in oil output. It hit a record low of 7 to the dollar this week, according to currency dealers in Tripoli. The official rate is 1.4.

Inflation is North of 20%.

https://t.co/mwK9jiw6fD

Can't catch a break now, can they?

on this one, the mess was created, intentionally, by Big Brother and allies Sad Sad Sad
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
lochaz-index
#5028 Posted : Friday, November 25, 2016 8:34:20 PM
Rank: Member


Joined: 9/18/2014
Posts: 536
Angelica _ann wrote:
lochaz-index wrote:
lochaz-index wrote:
lochaz-index wrote:
lochaz-index wrote:
lochaz-index wrote:
The naira has been through one tough roller coaster. The official devaluation downgraded it from 190 to 300+ vs the dollar in four months(June through to September) whilst the black market rate is still north of 400 having clocked a gruesome 436 about two weeks ago.

Having extended a zero interest loan to Nigeria, the IMF is pressing for further debasement and a fuel hike.

http://www.vanguardngr.c...itions-tough-handle-fg/

KE has taken two precautionary loans in two years, will it find itself in the same predicament in one years time?

African currencies are having a torrid time especially the ones with fixed pegs. The Egyptian pound is falling like a rock and is still expected to fall some more.
Quote:
Abdel Aal expects the CBE to follow the controlled flotation and drop the Egyptian pound’s value down against the US dollar by 30%, either once or twice.

More fx expenditures than revenue means the CBE doesn't have the ammo to float the currency despite the IMF's insistence.

The next 18-24 months are promising to be excruciating for developing economies and their currencies more so the African ones.

The fx market is a reliable pulse reader of coming moves in the financial world. Recent actions imply some heavy weight action is on the way probably in the bond market.
http://www.dailynewsegyp...ial-request-borrow-imf/


Take 3: at the bottom of the the sovereign bond barrel, Mozambique officially issues an SOS to its creditors. Will it be a soft default via debt restructuring as so desired or an outright default? Either way it has good company in the form of Venezuela.

Their debt to GDP ratio is projected to close at 130% by end of 2016. A developed nation can try to juggle this kind of debt, but for a developing economy it is toxic. This has grown from 62.4% in 2014, 53.1% in 2013 and 38.1% in 2011. Ring a bell? KE had better watch out. Things went south in a two year window and now they are in distress.

The metical lost 30% vs the dollar in 2015 and a further 70% this year which ballooned their debt. With inflation at a scorching 16.7% (from 2.4% in 2015), the BdM has hiked its rate to circa 23%.

http://www.wsj.com/artic...estructuring-1477418742

EA economies and currencies have held their ground quite admirably in 2016, will they manage the same feat?

Take 4: Bank of Ghana cuts its rate (cbr equivalent) to 25.5% from 26%. Inflation still at a head spinning 15.8%. Cedi is a little stable but still skidding nonetheless.
http://www.bloomberg.com...k-first-time-since-2011
Considering the fate of pegs and caps is always the same i.e. they both fall by the wayside eventually, the KE interest rate caps are going to have a short shelf life.

In addition, looked at through the global 5000 year prism, interest rates are set to rise - caps or no caps.

If we get crazy inflation next year and KES weakens excessively vs USD, the caps are going to look ridiculous at some point.

Take 5: Libya is still smouldering 5 years after the uprising. One hell of a devaluation awaits the dinar.
Quote:
The dinar has been steadily weakening on the black market over the past year as the nation’s political rifts thwarted a recovery in oil output. It hit a record low of 7 to the dollar this week, according to currency dealers in Tripoli. The official rate is 1.4.

Inflation is North of 20%.

https://t.co/mwK9jiw6fD

Can't catch a break now, can they?

on this one, the mess was created, intentionally, by Big Brother and allies Sad Sad Sad

True, but international influence/interference is always there either explicitly or implicitly. This can be effected through international shylocks (think IMF and World Bank arm twisting ways), international banks(think Mozambique's tuna bond via Credit Suisse and VTB), international economic hit men/political mercenaries etc.

The result is the same irrespective of the tactic of choice. Libya and other Arab nations bore the brunt of schemes that got unearthed by the commoner.

Current dinar slide is a funding/revenue squeeze just like other commodity/oil dependent economies are experiencing.

Which banks arranged KE's euro bond? Both IMF and WB have made themselves comfy in KE in the last three years or so. Same script.
The main purpose of the stock market is to make fools of as many people as possible.
lochaz-index
#5029 Posted : Friday, November 25, 2016 9:37:14 PM
Rank: Member


Joined: 9/18/2014
Posts: 536
Faced with an existential and a credibility crisis, mainstream media choose to dig in their heels and pick a fight with alternative media outlets. The war is global and its on. The fallout from the US election is a gift that keeps on giving keeps on giving.

What do they say about hubris? Poor timing by the MSM to ruffle the alt media feathers. I like a good underdog story, some big boys are going to bite the dust.

https://www.ft.com/conte...-11e6-a37c-f4a01f1b0fa1

Waiting for an epic giant slaying episode if the big boys keep poking the hornets' nest.
The main purpose of the stock market is to make fools of as many people as possible.
lochaz-index
#5030 Posted : Friday, December 02, 2016 11:28:07 AM
Rank: Member


Joined: 9/18/2014
Posts: 536
India's govt pulled a bone-headed move by demonetizing 86% of the nation's currency all in the guise of fighting corruption while the real aim is to increase the tax net. They have unwittingly given the masses a rope by which the establishment will be hanged.

India was poised to be the best performing of the larger economies in 2017 @circa 7% just ahead of China. In light of the recent developments, it will be hard to register anything above 3%. As if that is not bad enough, the policy whose aim was to increase govt revenue will end up drastically reducing it.

People and businesses with capital have the following choices;

1. Go underground completely to the extent of shunning the new 'compliant' currency notes and resort to barter trade. This will boost the so called black economy that demonetization aimed to eradicate.

2. Look for the nearest exit out of India causing high demand for fx.

3. A combination of the two both of which would be the cause and/or result of hyperinflation.

How the PM thought the policy was inspired is beyond me.
http://www.economist.com...y?fsrc=scn/tw/te/bl/ed/

In a twisted way, the govt has effectively cannibalised businesses in India through an indirect bail-in of their cash and cash reserves. Funny world this one where emerging economies are emulating or radicalizing failed policies effected by stagnating/collapsing advanced markets.
The main purpose of the stock market is to make fools of as many people as possible.
winmak
#5031 Posted : Friday, December 02, 2016 4:26:56 PM
Rank: Member


Joined: 12/1/2007
Posts: 156
Location: Nakuru
lochaz-index wrote:
India's govt pulled a bone-headed move by demonetizing 86% of the nation's currency all in the guise of fighting corruption while the real aim is to increase the tax net. They have unwittingly given the masses a rope by which the establishment will be hanged.

India was poised to be the best performing of the larger economies in 2017 @circa 7% just ahead of China. In light of the recent developments, it will be hard to register anything above 3%. As if that is not bad enough, the policy whose aim was to increase govt revenue will end up drastically reducing it.

People and businesses with capital have the following choices;

1. Go underground completely to the extent of shunning the new 'compliant' currency notes and resort to barter trade. This will boost the so called black economy that demonetization aimed to eradicate.

2. Look for the nearest exit out of India causing high demand for fx.

3. A combination of the two both of which would be the cause and/or result of hyperinflation.

How the PM thought the policy was inspired is beyond me.
http://www.economist.com...y?fsrc=scn/tw/te/bl/ed/

In a twisted way, the govt has effectively cannibalised businesses in India through an indirect bail-in of their cash and cash reserves. Funny world this one where emerging economies are emulating or radicalizing failed policies effected by stagnating/collapsing advanced markets.


And it is surprising how the middle class are non-critical of this move, probably the immediate impact is on the poor. I mean, I am in Gujarat and most small businesses have frozen since most people have slowed down their spending as they aren't sure when they will next be able to access liquid cash!! And the new 2000 not is being rejected at many places since change is difficult to get. I am stuck with 2 notes of 500 that no-one can touch, even banks are frowning upon foreigners (ma daily exchange is 2000 rupees BTW!!!)
For investors as a whole, returns decrease as motion increases ~ WB
lochaz-index
#5032 Posted : Monday, December 05, 2016 10:21:32 AM
Rank: Member


Joined: 9/18/2014
Posts: 536
After ravaging most of East European countries for the better part of the last four years, anti-EU movement goes mainstream. Italy is but the first of the big guns to catch the bug after the establishment's referendum is resoundingly defeated.

An election is likely to usher in a govt that will orchestrate an Italeave. Bank failures will make certain of that eventuality. It also makes sense from an economic perspective. Their banks have been getting a raw deal from the ECB and they won't draw any favors from them going forward. Back to the lira?

The doom loop between Italian sovereign bonds and banks is likely to get very strenuous as capital buffers get vaporized. The same pain will be exported to Spain and Portugal. Euro crisis part two coming up only this time it be a heck of a lot worse than in 2011/2012.

Spain somehow managed to keep the euro skeptic elements out of govt and it remains to be seen if France and Germany will succumb to the wave. The EU will be as good as dead if the govts of the latter two are over hauled by the skeptics.

2017 will most certainly be a torrid year for the euro. The referendum in Italy looks like the beginning of the end for the EU and the euro. Brexit could have been labeled an outlier due to its 'improbability/singularity' however, another walkout most likely by Italy creates a trend and sooner or later there is going to be a stampede for the exit door.
http://www.marketwatch.c...er_new&link=sfmw_tw
2016 is going out with a bang just like it started. Poetic markets.
The main purpose of the stock market is to make fools of as many people as possible.
Ericsson
#5033 Posted : Monday, December 05, 2016 10:37:19 AM
Rank: Elder


Joined: 12/4/2009
Posts: 2,573
Location: NAIROBI
ATS is down.
No live feeds are being posted one hour later
lochaz-index
#5034 Posted : Monday, December 05, 2016 10:46:18 AM
Rank: Member


Joined: 9/18/2014
Posts: 536
winmak wrote:
lochaz-index wrote:
India's govt pulled a bone-headed move by demonetizing 86% of the nation's currency all in the guise of fighting corruption while the real aim is to increase the tax net. They have unwittingly given the masses a rope by which the establishment will be hanged.

India was poised to be the best performing of the larger economies in 2017 @circa 7% just ahead of China. In light of the recent developments, it will be hard to register anything above 3%. As if that is not bad enough, the policy whose aim was to increase govt revenue will end up drastically reducing it.

People and businesses with capital have the following choices;

1. Go underground completely to the extent of shunning the new 'compliant' currency notes and resort to barter trade. This will boost the so called black economy that demonetization aimed to eradicate.

2. Look for the nearest exit out of India causing high demand for fx.

3. A combination of the two both of which would be the cause and/or result of hyperinflation.

How the PM thought the policy was inspired is beyond me.
http://www.economist.com...y?fsrc=scn/tw/te/bl/ed/

In a twisted way, the govt has effectively cannibalised businesses in India through an indirect bail-in of their cash and cash reserves. Funny world this one where emerging economies are emulating or radicalizing failed policies effected by stagnating/collapsing advanced markets.


And it is surprising how the middle class are non-critical of this move, probably the immediate impact is on the poor. I mean, I am in Gujarat and most small businesses have frozen since most people have slowed down their spending as they aren't sure when they will next be able to access liquid cash!! And the new 2000 not is being rejected at many places since change is difficult to get. I am stuck with 2 notes of 500 that no-one can touch, even banks are frowning upon foreigners (ma daily exchange is 2000 rupees BTW!!!)

Must be very tough out there. War on cash is getting out of hand with very absurd policies being put in place to eliminate it. Banks will take a serious hit in the aftershock.

The middle class catches the economic drift when it is already too late. Late in this case being when their jobs are on the line or they are faced by crippling inflation and a stagnant wage. The business owners/high income and low income classes have better readings since they are the first on the firing line either directly or indirectly. The same trend is evident in KE.
The main purpose of the stock market is to make fools of as many people as possible.
iris
#5035 Posted : Monday, December 05, 2016 11:12:38 AM
Rank: Member


Joined: 9/11/2014
Posts: 133
Location: Nairobi
The Kenyan banks are now requiring us to give reasons for deposits/withdrawals. What is/are the underlying reason(s)?
Othelo
#5036 Posted : Monday, December 05, 2016 11:22:48 AM
Rank: User


Joined: 1/20/2014
Posts: 3,522
iris wrote:
The Kenyan banks are now requiring us to give reasons for deposits/withdrawals. What is/are the underlying reason(s)?

CBK guidelines/requirements when over Kshs. 1m ..... KYC, money laundering etc
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
iris
#5037 Posted : Monday, December 05, 2016 11:32:18 AM
Rank: Member


Joined: 9/11/2014
Posts: 133
Location: Nairobi
Othelo wrote:
iris wrote:
The Kenyan banks are now requiring us to give reasons for deposits/withdrawals. What is/are the underlying reason(s)?

CBK guidelines/requirements when over Kshs. 1m ..... KYC, money laundering etc


Currently not restricted to KES 1M. It is almost any amount. Last time the amount in question was KES 33k. This started a couple of months ago, whereas the 1M guideline has been around for awhile.
Othelo
#5038 Posted : Monday, December 05, 2016 12:13:11 PM
Rank: User


Joined: 1/20/2014
Posts: 3,522
iris wrote:
Othelo wrote:
iris wrote:
The Kenyan banks are now requiring us to give reasons for deposits/withdrawals. What is/are the underlying reason(s)?

CBK guidelines/requirements when over Kshs. 1m ..... KYC, money laundering etc


Currently not restricted to KES 1M. It is almost any amount. Last time the amount in question was KES 33k. This started a couple of months ago, whereas the 1M guideline has been around for awhile.

Probably after NYS fiasco by banks, your bank is just being cautious and careful. Good thing though!!!!!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
iris
#5039 Posted : Monday, December 05, 2016 12:24:52 PM
Rank: Member


Joined: 9/11/2014
Posts: 133
Location: Nairobi
Not one bank: encountered with 2 different banks. When I queried the teller, she said it is a directive from CBK. micro-controls may be either good or bad and this is the reason for my query
winmak
#5040 Posted : Monday, December 05, 2016 1:05:47 PM
Rank: Member


Joined: 12/1/2007
Posts: 156
Location: Nakuru
I just write 'shopping' and quickly forward it to the teller. Who is going to verify that?
For investors as a whole, returns decrease as motion increases ~ WB
Users browsing this topic
Guest (2)
254 Pages«<250251252253254>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Home | . .. Investor | .. . Groups | .. . SME | . . . Market | .. . Club SK | . ..... About Wazua | . .. Search | . ..Sitemap | . ..Support | . ..Disclaimer | . ..Privacy Policy | . ..Terms of Use | . .. Contact Us
Copyright © 2017 Wazua.co.ke. All Rights Reserved.