Aramco case study and IPO speculation

Aramco stock performance since it was floated in the Tadawul in Dec 11th.

Saudi Aramco, the world’s largest integrated oil and gas company, wholly owned by the Government of the Kingdom of Saudi Arabia (the “Kingdom”, the “Government” or the “Selling Shareholder”), today announces its intention to proceed with an initial public offering on the Main Market of Tadawul.

Announcement of Intention to Float on Tadawul stock market back in November 03, 2019.

By December 11th they had already been listed and started business with a market capitalization of about $2trillion *nuts is so far the highest amount of money raised for an IPO and these stock might be a hot cake to be monitored during the next few months for the investments to double up and the SHORT TERM investors to start cashing out their investments.

An economist, Dr. Gor  had once stated that getting a soft loan to buy shares would be falling into a trap where the  loan interest rate would out way the profit one might get from the IPO by selling the shares when the need came. The best suggestion was for an investor to invest in an IPO with money that they wanted to stash somewhere as they wait for it to mature on a long term/long run maybe 13 years. this would mean that Aramco accountants have control of $25.6 billion just they just raised for the projects they wanted to finance for the period 2019/2020 and biggest gainer of these crude oil seller might just be China.

The 37 mark stagnation this week

Parting shot: since the stock value is still stagnating at 37 by the time it gets to 60, the short term investors would be cashing out leaving the long term investors to start establishing their hold on the Aramco board decision making due to their usual large investments also…

This long run profit margins are the best to wait for but in the case of Aramco, it might be different since the ELECTRIC VEHICLES and SOLAR POWERED PLANES markets have come of age. the oil investors are feeling the pressure of whether these technologies might outlive the startups like Tesla that are disrupting these traditional oil market. Diesel and petrol engines are currently being designed to work hand in had with batteries as a form of hybrid system that uses small computers to economize on the fuel consumption. something that electric charged  cars can now comfortably do, to economize the amount of electric charge left in the car for the journey your going.

Some electric cars can do 500km per charge which is alot cheaper that buying gas by the gallon. It would only be fair for the Saudi Arabia oil maker to re invest in electric car batteries and electric car gear boxes for the long run… But who plays fair when they have 2 trillion dollars to spend on cars and engines? I also know oil is used to make plastic by-products… something the Eco-activists are also not really passionate about when it comes to plastic waste in the water systems.

 

The Democrats present Trump Impeachment documents

Today’s press briefing by the Democrat party chair was a hint to how hard it is to impeach the president of the super power. He won the July 25th poll and the democrats accuse him of colluding with Ukraine to interfere with the victory. It has taken the democrat officials 8 months for them to get a lower court ruling  that has enabled them to get the papers for the impeachment process.

“If we also have to wait for another 8 months to get another supreme court rulling for president trumps impeachment, we can wait”

They felt that the court had a “Why not let him cheat just one more time” argument by the court. and they just don’t want to leave trump corrupt and without accountability. the administration is obstructing congress and the law.

There you have it… the whole impeachment articles in a few words from the democrats officials. They are just trying to defend the constitution by removing Trump from the seat.

 

THE ULTIMATE FOREX SITE FOR PERSONAL TRADING

The first time I got outta high school and heard about online foreign exchange platforms… It got appetizing immediately but a few sessions later, the big deal was whether… this FX platforms are just ways for the web-hackers to do simulations that resemble the real money market and drop the curve ball on you when you are about to make  a killing on that commodity you just placed your bet on.

Most of the traders like Nyaga stoke brokers back in the day, made a killing with the IPO’s(initial public offering) being floated on offer locally as the main guys to go to for buying initial public offering shares. they later declared bankruptcy and closed shop. nowadays you don’t necessarily need a stock broker to buy stokes online, or do you still do?

Its not just like betting. Its more unpredictable as the dynamics for each commodity market are determined by different factors. Most of the online trading platforms offer a way to make easy trade. If you are in finance you would know that an easy investment isn’t necessarily a profitable one. but the way nowadays you can easily call back a commodity you bought or sold online is a good feature.

Martial arts with Chinese cuisine

nendo.com’s mark had a few comments to make about the state of non-serenity when it comes to following Kenyans (KOT) on twitter. He shared some insights on the sentiments shared by Pastor TD Jakes on the KOT.

“Kenyans on Twitter are a powerful bunch, I learned this the hard way. I just wondered whether you would tweet that hard about what you got, rather than about what you hate?” – Bishop TD Jakes.

Apart from that we have a steady inflow of tourists in the country which might supplement the agri-business industry during these trying times of climate change to our farmers. tour-ism on a good day makes up of Kenya’s 30% gross GDP contribution. without the Kenyan govt making regular budgets to finance marketing activities for this sector there would be more of a bore. Maasai mara and the other national parks/ reserves have better activities for tourists from the west who have never seen the big five… then we have Nairobi the heart of the country which has been of late receiving a significant number of asians.

The Kenyan Asian community started participating in politics in the 1930’s actively… largely consisting of the Kenyan-Indian community that migrated inland after the Kenya Uganda railway was commissioned by the EAC legco.  As we speak the engineering projects have been taken over by the Chinese community in the city and there is no denying the fact that we now need to understand what they’re saying when we walk past ’em in town. There have been a couple of organised showcases from the Chinese community to also engage the Nairobians on their culture and cuisine. Still knowing what they eat might make you have that much needed sigh of relief and get on with other things like doing business.

 

The correct figure on the amount of money that gets pumped back to the economy due to tourism activities that usually involve foreigners can be easily deduced but the money that they get from the local tourists? where can we get the correct numbers? most of the parks, museums and theatres charge little entrance fees for their activities and overcharge the foreigners who have an actual interest in knowing our history. So as the weather becomes more and more unpredictable and farming tools and equipment reduce in price, tourism and tourism related services have not yet gone down the drain.. do something along those lines this Christmas season and land a client who was on a tour.

Kenya’s space exploration program

The international space station section where Japan launches nano satellites, a program I am optimistic can make the centre more commercial in its operations

As we wait for Japanspace exploration centre’s launch, Tuesday, Sept. 10, 5 p.m.: Coverage of the JAXA HTV-8 cargo spacecraft launch to the International Space Station. Liftoff aboard a H-IIB rocket from the Tanegashima Space Center, Japan, is at 5:33 p.m. The H-II Transfer Vehicle-8 (HTV-8) cargo ship will delivering supplies to the orbiting laboratory.

It is such a pity that from last year –may 11th 2018 historic launch of the Kenya-Italian partnered Nano satellite launch we do not have much from that damn thing. it must have been for research and data religh, but I would have loved if that data would be able to help this weather prediction situation we have in the country. Who has control of some of these projects so that we can be in the know??

http://1kuns-pf.ns0.it/index.php/latest-data/ check out some of the simple stuff this academic satellite can do.

Since the guys at the iss*- international space station have been having a great time watching typhoons over the weekend and alerting guys in the area about the gravity of the situation… we have a few more ideas here and questions that these guys can help with

I was thinking, since in the developing nations we do not have a lot of shit in space.

How might we use this nano technology that the Japanese have to make weather predictions more precise?

How might we add more components to the nano satellite apart from making it take photos, show battery level and take gryroscope positions?

how might we make the data relay more realtime, does that require more money?

Minimum COST of Nano Sat = $25 million + (additional charges from space stations)

Maximum COST of Nano Sat = $100 million

else >>> the nano sat would most probably just be replaced

…by some of googles low orbit google X projects that have higher resolution images and easy to use for third party integration. Facebook are also working on orbiting vessels that are un-manned for their free.facebook.com program. Germany have a solar plane that is more efficient, they would most probably need the funding to expand their solar plane project but we cannot be moving 5 steps forward and 10 back.

With the increase in python community and the intoduction of graphQl, machine learning can be used to make all this satelite data computed much faster for better use by we, the humans.

 

Andela Kenya’s programmers start public engagements

As the August holidays come to an end and not much being done in the tech scene, I got this #SHEHacksAtAndela event notification and had to go see…

Andela is a network of technology leaders dedicated to advancing human potential. We help companies build high-performing engineering teams by investing in Africa’s most talented software engineers.

I have always wanted to be an Andela ever since they started their Kenya operations. Some of the very capable programmers from iHub(Back then when Mr. Mugambi* was still he team manager) joined and thats when I can admit that I got psyched out of wanting to join their first team.

They had set interviews back to back and it made me realise that alot of the programmers were on a job hunt. As time has played out, I got this #SHEHacksAtAndela event notification and had to go their this year.

 

I have a few ideas on what they were making the presentation WEB API PENETRATION TESTING. It is just fascinating stuff that these ladies are working on considering they have experince in web based attacks. The level of attacks differ and the intentions of the web attackers are usually diverse. The presentation was focusing on the introduction part of web API penetration and how to ensure the integrity on the website you are logging into or making.

So the holiday was an eye opener for the type of content programmers want to come listen to nowadays. The place was packed, which is a good sign for mark zuckerberg and his foundation. Andela still has a long way to go as they position themselves as the top company when it comes to the authenticity of its programmers.

Tertiary education for programmers is becoming costly and why not learn as you get payed?

 

 

 

 

Microsoft Pop up labs Kenya

June was an exciting month for Kenya’s tech scene where we got to host some big shots from the Microsoft team to interact with and learn a bit from them at the Industrial area where the heart of industrialization in Kenya once thrived(-not so long ago). The event was sold out and the venue was the newly refurbished Gearbox head office, a modern fabrication laboratory that allows individuals( You and me in this instance) who is interested in using their workshop from doing laser stuff, 3D printing, PCB(polarized circuit boards) design and manufacture and the most fun part tech young kids how to do robotics.

MS team Nairobi, Kenya offices

The core focus of the Microsoft and gearbox combo was to tackle the topic AI(artificial intelligence) being fused with IoT(internet of things).

Gearbox has seen quite a number of builders that have passed through this space which is under the former University of Nairobi Lecturer Doctor. Kamau Gachigi and is currently being managed by Felicity’s team that also includes female techies. Felicity is into robotics and Dr. Kamau is into 3D advancement and fabrication labs.

 

 

Gearbox as a space has now been successfully operating and dishing out real talent to the Kenyan startup industry. They just recently finished showcasing their innovations on the #ishow and you should look that up on twitter kenya for more on those ideas if you are into their vybe. Gearbox is an advancement of the once famous BELL labs in the USA that were exclusively meant for the advancement of the telephone cable lines and the founders of the “internet”. The lab has positioned itself in the market as a competitor for the traditional workshops by letting you the user to design a product based on your specifications.

IoT, The internet of things is something that has been a bit of a fuss lately where everyone is looking to make that whole experience of inter-connectivity between devices work for them and make their day to day operations really easy. some IoT innovations work but one will have to ask why they would need that type of innovation in their day to day life. The Microsoft Azure developer Jan…

Jan schweda takes the gearbox audience on the ones and twos of cloud computing

…was trying to convince us in the beginning to  get to understand the main purpose of using Azure as a platform for running your innovation and it became really simplified in the sense that the Microsoft platform should be looked at as a hardware or Software that lets you store anything from programs to software applications that allow you to run them anywhere Microsoft operate. That has an advantage compared to your traditional (Website) hosting services for example because Azure has already hosted the program for you everywhere.

AI, Artificial intelligence on the other hand has other dynamics my friends. from the definition and what exists as AI, its a bit wanting information for me to share. But we are in luck, do not fear. Here are a couple of points the developers who know these things can pick up from:

1. Contribute to the Github repository and remember to signup and follow what you are comfortable doing. nowadays Microsoft azure uses the C# programming language but c++ can be a start
2. Engage the community of developers on the intelligence systems out there to see if they pass the test.
3. Edit written documents and programs in the communities you follow
4. Upload stuff for a reason
5. Attend at least 3 locally organized meet ups on technology and startups or even art
6. Write and write more stuff.

 

 

 

 

Mergers and Aquisitions 2017/2018

courtesy BANK KELELE 254/www.cryptoninjas.net/

 

Banking and Finance: Finance, Law, & Insurance M&A

Centum Investments is selling its shareholding in GenAfrica Asset Managers to Kuramo Capital LLC, an independent investment management firm based in New York City with offices in Nairobi and Lagos, and registered as an investment advisor by the Securities and Exchange Commission (“SEC”). Centum sold 25% of Platcorp Holdings to Suzerian Investments a consortium of the Platcorp management team (platinum credit and premier credit) which provides emergency loans to individuals in Kenya Uganda Tanzania while Premier offers working capital loans to companies – at a 31% return.

AfricInvest, a leading pan-African mid-cap-focused private equity firm invested in Britam Holdings Plc (Britam), taking up a 14.3% stake. The investment was made in partnership with DEG-Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG), The Dutch Development Bank FMO, and Proparco, a subsidiary of Agence Française de Développement (AFD), focused on private sector development.

Hamilton Harrison & Mathews Advocates (HH&M), one of Kenya’s oldest and largest law firm has entered into an agreement to combine with Dentons, the world’s largest law firm. Upon regulatory approval, HH&M will become part of Dentons, which is combining with seven elite firms in Africa, the Caribbean and South East Asia.

The Competition Authority of Kenya (CAK)has authorized the proposed acquisition of control in AON Kenya Insurance Brokers by Extologix Proprietary through Heartland Holdings.

BitPesa, the first and largest blockchain payments platform for Africa and Europe, announced their acquisition of TransferZero, an international, online money transfer platform that specializes in sending money to consumers and companies in 200 countries using over 50 different currencies.

ceo Bitpesa

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BitPesa, the first and largest blockchain payments platform for Africa and Europe, announced today their acquisition of TransferZero, an international, online money transfer platform that specializes in sending money to consumers and companies in 200 countries using over 50 different currencies.

TransferZero is a partner of Bankia, Spain’s third-largest bank and has pioneered a number of innovations in the European FinTech sector.

BitPesa is one of the few global companies to have licensing and infrastructure in both Africa and Europe. Under the acquisition, TransferZero will continue to operate under the same brand name and all of its employees will stay with BitPesa. Their headquarters will remain in Madrid.

“Europe is a hub for global remittance and payments companies,” said Elizabeth Rossiello, founder, and CEO of BitPesa. “Digital currencies and decentralized technology have hit critical mass in the financial services and payments space. It is no longer a question of whether this technology will have staying power—rather, which specific technology and what product iteration will launch and scale first. This past year was groundbreaking for digital payments and blockchain, as we saw Japan and Korea, two major Asian economies, come out with clear regulation that supported a booming sector. The UK, Europe, and Switzerland also solidified their position in support of payment companies using this technology,” added Rossiello.

“BitPesa has the support of top-tier, institutional investors and a network that will help to bring TransferZero’s technology to the next level,” said Luis Cambronero, former CEO of TransferZero and current MD at BitPesa. “With this support, we will be able to provide even more efficient transfers and user experience,” said Cambronero.

TransferZero has network integrations on four continents, and a team with decades of experience working with enterprise clients in need of global payment solutions. They are the only remittance company that does not charge a fee, aside from a small percentage in the FX.

“This is truly a partnership where the whole is greater than the sum of the parts, allowing BitPesa to solidify our leadership in this space,” said Rossiello. “By bringing our regional and technological expertise together, we will further accelerate our month-to-month growth,” Rossiello concluded.

 

Mastercard has completed its acquisition of mobile payments technology company Oltio from Standard Bank Group. The acquisition builds on Mastercard’s longstanding relationship with Oltio’s technology enables consumers to authenticate Masterpass digital wallet purchases in South Africa using their bank PIN and mobile phone.

DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, is investing EUROS 4 ,000,000 in M-BIRR, a cashless money transfer and payment service in Ethiopia to improved access to banking services in Ethiopia on a wide scale. Other investors include the European Investment Bank (EIB). The Finnish development finance company Finnfund has been a shareholder in M-BIRR since as early as 2012 which is inspired by the success story of the Kenyan provider M-PESA.

The Competition Authority authorized the proposed acquisition of 100% of the issued share capital of Youjay’s Insurance Brokers by I & M Insurance Agency.

Customers of Chase Bank were given an update by the Central Bank (CBK) and the Kenya Deposit Insurance Corporation (KDIC) on the ongoing takeover of selected assets and liabilities of their bank by State Bank of Mauritius (SBM).

Food & Beverage M&A

A South-African based private equity fund has invested Sh404 million ($4 million) to acquire an undisclosed stake in Kenyan fast food chain Big Square. Uqalo says its investment will expand its footprint from the current nine stores to 30 over the next four years. Uqalo, which targets investments located in Kenya, Ethiopia and Nigeria, is primarily funded by Hong Kong-based supply chain and logistics conglomerate Fung Group and its strategy is to acquire minority stakes by investing between Sh202m and Sh506m ($2m and $5m) in “mature businesses” through equity or convertible debt (via Business Daily).

The Competition Authority approved the proposed acquisition of 100% shareholding in Nairobi Java House limited by Star Foods Holding

Wow Beverages has made an application to enter into exclusive import arrangements with specified international and local manufacturers and suppliers of ‘premium’ wines and spirits in Kenya – from Gallo Vineyards Inc. trading as E&J Gallow Winery Europe, Vina San Pedro Tarapasca S.A, Felix Solis Avantis S.A, Afrique Interlink (PTY), Interlink (PTY) Limited, Edrington Group Limited and Tradall S.A (Bacardi-Martini Group).

Seaboard has made a low offer to buy out other minority shareholders of Unga.

The Kenya Tea Development Agency (KTDA) Chebut factory is set to take over management of 260 acres of mature tea owned by the Nandi county government after the conclusion of ongoing negotiations.

Logistics, Engineering, & Agri-Biz M&A

Moovit

Ascent Rift Valley Fund (ARVF), a leading SME Private Equity Fund investor will acquire a majority stake in Auto Springs East Africa, a Limuru-based factory that produces a wide range of products for the motor assembly and vehicle spare parts industry. It will be done in a partnership deal with SFC Finance.

Sendy, an app-based on-demand delivery services platform operating across Kenya, has completed a Series A investment round, led by DOB Equity. DOB Equity will invest alongside CFAO, member of the Toyota Group, and other private investors. DOB Equity says that the new funds will enable Sendy to increase their platforms’ service offering. This includes adding more delivery vehicles to their platform, increasing their coverage area, expanding the sales and technology team, and preparing for future expansion into neighboring countries in East Africa.

The owners of flower farm Karuturi Limited have secured an investor to inject fund into their business as they fight to save their priced asset from being auctioned by CfC Stanbic over Sh1.8 billion loan default. The firm in a statement said that it has reached an agreement with Phoenix Group for a ‘blend of debt and equity’ which will help it to meet its current debt obligations and restart its operations (Via Business Daily)

Ethiopia acquires 19% in Berbera Port becoming a strategic shareholder; UAE’s DP World has 51% while Somaliland gets 30% following the agreement being signed.

Trading on Express Kenya shares has resumed at the Nairobi Securities Exchange (NSE) after a three-month suspension following a takeover bid by the firm’s CEO Hector Diniz. Diniz Holdings, an investment firm, has bid to acquire the 38.36% stake held by other shareholders other than its affiliates for Sh5.50 a share. (Via Business Daily).

The Competition Authority authorized the proposed acquisition of the entire issued share capital of Trillvane Ltd by Kuehne+ Nagel limited.

The Competition Authority authorized the proposed acquisition of Carzan Flowers (Kenya) limited by Star Bright Holdings.

The Competition Authority authorized the proposed acquisition by Diamond (bc) b.v. of the Diversey Care division of Sealed Air corporation (“sealed air”) and of Sealed Air’s food hygiene and cleaning business within its food care division.

The Competition Authority authorizes the proposed acquisition of 51% shareholding in Mavuno Fertilizers Limited by Omya (Schweiz) Ag.

Trans Miller Limited carrying on the business of food processing, packaging and distribution and other related agri-business activities, situate at L.R. No. 4953/1185, Thika, have been sold and transferred by the transferor to Tahuna Limited, who will carry on the said business of manufacturing under the name and style of Tahuna Limited.

Funguo Investments Limited has acquired a majority – 51% stake in Feastfoods Processors Limited, a food processing company that has been set up to manufacture fruit juice puree and concentrates in Kwale County (via Business Today)

Airline/ Oil/Energy/Mining M&A

 

Kenya Airways PLC, KLM Royal Dutch Airlines (KLM) and Societe Air France S.A (Air France) have made an application under section 25 (1) of the Act for the exemption of their proposed Agreement of Accession and Amendment to Joint Venture Agreement (proposed Amended JV) from the provisions of section• A of Part III of the Act. The application for exemption is for an indefinite period (as long as the amended Agreement remains in force).1. The proposed Amended N agreement provides as follows —(a) the inclusion of Air France as a party to the Joint Venture Agreement (original JV agreement) between Kenya Airways and KU* and(b) that all references to KLM in the original JV be construed as a reference to both KLM and Air France.

There has been an ownership change at Safarilink as ALS Limited, one of the shareholders of the firm, sold its entire to Bridges Limited, a Ramco Group affiliate, and an existing shareholder. As a result of this private transaction, Captain Aslam Khan of ALS relinquished his position of chairman with Safarilink’s owners settling on Mr. Ngunze to steer the airline’s board (via Business Daily)

Ethiopian Airlines, the largest Aviation Group in Africa announced that it has finalized shareholders agreement with the Government of Zambia for the re-launch of Zambia Airways. The Government of Zambia will be the majority shareholder with 55% and Ethiopian will have 45% stakes in the airline – and this comes after another consolidation at Ethiopian.

Base Resources announced that it reached  agreement with World Titane Holdings whereby Base Resources will acquire an initial 85% interest in the wholly owned Mauritian subsidiaries of World Titane, which between them hold a 100% interest in the Toliara Sands Project in Madagascar. Base Resources will acquire the remaining 15% interest, with a further US$17 million payable on achievement of key milestones, as the project advances to mine development. The acquisition is to be funded by the A$100 million share offer currently underway, refer below for further details. Completion of the acquisition is expected to occur in late January 2018.

Investec Asset Management through its Africa Private Equity increased its investment in Mobisol with consortium partners the IFC and FMO. Mobisol, headquartered in Berlin deals with the energy demand from off-grid households and has operations in Kenya, Tanzania and Rwanda where it has sold 110,000 systems benefiting over 550,000 people.

(0IL) Following Total SA’s commitment, the Government has consented to a proposed acquisition of the issued and to-be-issued share capital of Maersk Oil Exploration International (Mogas Kenya) in respect of Blocks 10BA, 10BB and 13T. Earlier, Total had acquired Maersk Oil for $7.45 billion in a share and debt transaction.

Africa Finance Corporation and Harith General Partners (Aldwych Holdings) have merged their electricity generation assets into a new company – Anergi Holdings (includes Lake Turkana Wind Farm and Rabai Heavy Fuel plant in Kenya.

The competition Authority approved the proposed acquisition of indirect control of Savannah Cement by Benson Sande Ndeta.

The Competition Authority approved the proposed acquisition of Associated Vehicle Assemblers by Simba corporation.

 

Real Estate & Supermarkets M&A

Actis has agreed to sell its 79.5% majority stake in Mentor Management Limited a Kenyan project management company, to Turner & Townsend, a global construction and management consultant. The management team of MML will retain its minority stake. Actis acquired a controlling stake in MML in 2011 (Via Business Daily).

Mr. Price franchised business carried on by Deacons (East Africa) PLC will be transferred on or after 1st April, 2018 to MIRP Retail Kenya Limited  which will carry on the business.

Nakumatt Holdings and Tusker Mattresses have made an application under section 25 of the Act for the exemption of their proposed management services and loan Agreement for a period of three years.1. The terms of the agreement are that: Tuskys shall provide management services to Nakumatt including procurement and inventory management; Tuskys shall advance a loan to Nakumatt to provide it with emergency funding which shall be used to pay some of the outstanding amounts to employees and landlords; Tuskys shall provide recurring payment guarantees to the suppliers of the target to ensure the suppliers supply stocks to the following Nakumatt’s outlets: Village Market, Galleria, tikay Center, Lavington, Prestige, Mega, Highridge, Karen Crossoads, Ridgeways, Lifestyle, Embakasi, Garden City.

Telecommunications, Media & Publishing M&A

Kwesé has acquired a significant stake in iflix Africa, which will now form part of Kwesé’s diverse broadcast offering, as the core vehicle to deliver seamless mobile experiences to millions of viewers in Africa. Having set up operations in Nigeria, Kenya, Ghana and South Africa, iflix offers users the region’s most extensive collection of highly acclaimed local African and international series and movies, including first-to-market exclusive programming. This, in partnership with Kwesé’s broadcast operations and footprint, will create an exceptional mobile offering for consumers on the continent.

TPG Growth, the middle market and growth equity investment platform of global alternative asset firm TPG, announced today that it has signed a definitive agreement to acquire a majority stake in TRACE, the market leader in afro-urban music and entertainment. The remaining stake will be owned by TRACE’s co-founder and management team. TPG Growth will invest alongside Evolution Media and Satya Capital. As part of the transaction, MTG, a leading international digital entertainment group that invested in TRACE in 2014, will sell its stake in the company.

International Paper and Board Supplies carrying on the business of trading in printing and packaging materials and consumables at L.R. No. 209/11066, will transfer all its business, stocks and assets to The Print Store who intends to carry on the business from the aforesaid premises.

The Competition Authority authorizes the proposed acquisition of the entire issued share capital of Alldean Networks limited, Simbanet com limited and Wananchi telecom limited by Synergy.

Pressmaster carrying on the business of trading in printing and packaging materials and consumables at L.R. No. 209/12156, will transfer all its business, stocks and assets to Pressmaster Africa Ltd.

The Competition Authority authorized the proposed acquisition of the assets and business of International Paper and Board Supplies Limited by the Print Stores Limited, on condition that the acquirer absorbs not less than 45 out of the current 78 employees in the target business.

The Competition Authority authorizes the proposed acquisition of the entire issued share capital of Pressmaster Africa Limited by Ramco Plexus.

 

Other M&AThe Competition Authority authorized the proposed acquisition of 40% of the ordinary shares in AAH (BVI) limited by Oman Trading International with certain veto rights.

Hon. Uhuru Kenyatta and the first Lady Madam Margaret at the Great Wall of China. Courtesy http://www.nomad.sleepout.com

 

Merger Updates

In the past 6 months, A few banks changed ownership and a few other things. Here is a break down.

Stanbic: Eight years after the merger between Stanbic and CFC banks, which created CFC Stanbic, Stanbic has rebranded and removed the “CFC” name completely from the bank. The 2008 merger created the number 4 bank in Kenya, and today it is about number 7 in assets with 25 branches and listed on the Nairobi shares exchange. The Stanbic brand will now be common in the 20 countries across Africa.

Bank M (of Tanzania) published a statement, denying they are the majority owners of the former Oriental Commercial Bank in Kenya – now known as M Oriental since June 2016. It states that MHL is a Kenyan entity that is promoted by some shareholders of Bank M, but that it does not have direct ownership.

QNB: Qatar National Bank continues to run quarterly newspaper ads on it’s size in Kenya without being linked to any Kenyan bank. Today’s newspaper which touts them as the largest financial institution in the Middle East and Africa region, with September 2016 assets of $196 billion (up 37%) and profits of $2.7 billion (up 11%).

Courtesy: Bankelele

Another arts Festival brewing in Kenya

Cefa art against poverty programme staff and stakeholders

The music industry in Kenya is what we call a side hustle. It is difficult or rather hard to make it as a secular musician in the region compared to gospel music counterparts. Though this narrow classification in the music industry might just change.

There might be hope for the industry if you come to understand the motivation behind this new arts festival dubbed The Africa nouveax Festival . It’s backed by some famous and successful artists, The Italian based and European Union funded.

Africa nouveax stakeholders at their new office in Westlands Nairobi.

“Ordinarily, I prefer whisky though you can never get it at art exhibitions,” murmured one of the attendees at the launch of the festival ” … wine seems more like a starter.” He finished. I had never had the guts to think along those lines, out loud. Maybe that’s what artists do, they express themselves in ways you never thought about. I mean, there I was, all formal and collected and these guy is complaining that they are serving free wine.

Digital artist, TedBarry with Fena

Back to the festival… The motivation behind this festival, a child of sorts of the successful Blankets and wine concert…

a well timed moment during the launch

is the aspect of not focusing on the Musician but art as an industry in the region(African continent). That being said. I hope to meet you in the next festival and talk art or wine if you prefer.

By Neville Mugambi. photography courtesy of Greshon(CEFA)