MONEY MATTERS: Notable Events This Week

- KenGen seeks KES 8bn for power plant

- Coal plant to tap local lenders for KES 18.2bn

- NIC Bank enters into asset leasing with new subsidiary

- Kenya’s debt burden may double

KenGen seeks KES 8bn for power plant-Electricity generating firm KenGen is seeking KES 8.2bn to construct an additional geothermal unit at the Olkaria1 plant to shore up the country’s installed power. The State-owned firm said the 70 megawatts (MW) project is valued at KES 18.2bn but it can only raise KES 10bn. The planned project comes just weeks after KenGen connected 230MW of geothermal power to the national grid between August and December last year.An additional 15MW is expected in May from geothermal wellheads. KenGen is targeting to inject another 560MW of geothermal power to the national grid in the next four years, which could offer further reprieve for consumers in the form of lower power bills. The additional geothermal power has helped cut electricity bills by about 30 per cent since August following the drop in the fuel surcharge from KES 7.22 per kilowatt hour (kWh) in July to KES 2.51 this month. (Source: Business Daily)

Coal plant to tap local lenders for KES 18.2bn-The consortium that won a tender to construct a coal-fired plant in Lamu is seeking KES 18.2bn from local banks ahead of groundbreaking in September. The consortium has already commenced talks with undisclosed lenders for the funds translating into about 10% of the total cost of the KES 182.6bn (USD 2bn). Overall, the project will be financed through debt which accounts for slightly over three quarters (USD 1.4bn) with shareholders’ equity of USD 500m. KES 109.5bn (USD 1.2bn) has been signed with Industrial Commercial Bank of China. The African Development Bank (AfDB) will provide a partial risk guarantee for the coal plant, the largest in East and Central Africa. Construction of the 960MW coal plant is expected to start on September 30^th and will take 21months generating energy at a cost of USc 7.52 per kWh, a third of the price of diesel plants. Overall, the project will be financed through debt which accounts for slightly over three quarters (USD 1.4bn) with shareholders’ equity of USD 500m. (Source: Business Daily)

NIC Bank enters into asset leasing with new subsidiary-NIC Bank has established a subsidiary, NIC Leasing Ltd Liability Partnership (LLP) to enter the asset-hiring business since the law prohibits lenders to rent out equipment and real assets. NIC becomes the first bank to enter leasing business in the country which is estimated to have a penetration rate of 6% compared to global rate of 38%, underlining the growth potential in the industry. Previously, NIC would link customers with leasing companies and provide the financing, the arrangement will see NIC be able to provide the equipment and the financing under one roof.(Source: Business Daily)

Kenya’s debt burden may double- A study by global consulting firm Control Risks indicates that Kenya’s debt burden could double in the next two years as a result of failure by the government to tackle key structural issues related to the economy. Currently, Kenya’s external debt stands at KES 2.3tn, with 54% being foreign. The government has committed to borrow further to finance public infrastructure projects including power plants and road construction. Last year, Treasury got parliamentary approval to raise the maximum amount it can borrow from KES 1.2tn to KES 2.5tn, citing the need for more capital to fund flagship projects. Last month, the World Bank warned that external debts and reduced inflows of foreign investments are set to affect developing nations such as Kenya. Foreign debt repayment is expected to become expensive as the US Federal Reserve Bank withdraws its quantitative easing program. (Source: Daily Nation)

Equity trading expectations

-Demand on banking sectors ahead of FY14 results release

-Demand on SCOM , touched a high of KES 15.95 yesterday.

Note:

KCB and CfC Stanbic releasing FY14 results on Thursday.

MONEY MATTERS: Notable Events This Week

 Uchumi posts a half year loss of KES 262m

- Co-op pushes for 60pc pie to banking agents

- CBK backs cheap oil imports to shore up shilling

- Cement, steel manufacturers cut retail prices

Uchumi posts a half year loss of KES 262m-Uchumi posted a half year loss of KES 262.3m in 1H15 compared to a net profit of KES 106.9m in 1H14 attributable to lower sales, high operational costs and increased competition. Revenue declined by 6.3% to KES 6.8bn while operating expenses increased by 10% to KES 1.7bn. Finance costs doubled to KES 60m as the retailer continued servicing the loans incurred to support expansion. The results come after Uchumi raised KES 895.8m through a rights issue last year, an offer that was oversubscribed by 85%. The retailer is banking on the proceeds to boost cash flow, pay suppliers on time, refurbish its existing outlets and fund expansion. So far, two branches were opened in Tanzania in 1H15 bringing total network in Tanzania to 5. Uchumi currently has 37 outlets across East Africa. (Source: Daily Nation)

Co-op pushes for 60pc pie to banking agents- Cooperative Bank has dropped the KES 20 charged on deposits made via an agent and KES 50 charged on rent and school fees payments as it seeks to push 60% of its transactions to agencies and mobile money platform to reduce costs. Management has stated that the use of agencies and mobile money would free staff time enabling more personal attention to customers as customer numbers inside banking halls reduce. Additionally, the maximum daily amount that can be withdrawn via the ATMs has been doubled to KES 40,000.The lender aims to have the bulk of transactions conducted through ATMs, agencies and mobile banking platform. (Source: Business Daily)

 

CBK backs cheap oil imports to shore up shilling-Central Bank of Kenya (CBK) has discounted predictions that the shilling will lose against the dollar, citing reduced import bill to contradict market analysts. CBK said it is basing forecast of a stronger local currency on the dropping fuel prices that should result in a lower import bill. In a statement posted on its website, the financial market regulator stated that the Kenya shilling depreciation against the US dollar has been gradual and has now stabilized with a bias towards strengthening or appreciation. The shilling traded at 91.4 to the dollar, a marginal decline from the previous day of 91.36. CBK is also relying on high foreign currency reserves arising from cash received in the two sovereign bond sales made last year in addition to the KES 63bn precautionary loan from IMF that will be used to defend the shilling in case of any external or internal shocks. Analysts however have been betting on a weak shilling owing to low dollar inflows from the conventional foreign exchange earners—tourism and agriculture. (Source: Business Daily)

 

Cement, steel manufacturers cut retail prices- Steel and cement manufacturers have joined food processors and long distance buses in cutting prices as pressure mounts on other producers to transfer benefit of dropping energy prices to consumers. National Cement has cut the ex-factory price of its Simba brand by KES 25 to KES 575 per 50kg bag – retail prices vary depending on the location due transport cost component. Steel, critical for supporting structures, is priced 11.2 per cent lower at KES 64,865 (USD 710) per tonne. The reduction was as a result of lower electricity costs since October giving the cement maker room to reduce the prices. Electricity tariff for industrial consumers has declined by about 30% in the six month period. Fuel surcharge, eased by the injection of 280MW of geothermal power to the grid between August and December, has dropped from KES 7.22 per kilowatt hour (kWh) in July to KES 2.51 this month. The lower prices of the building materials bode well for property developers and the government which is undertaking or planning to build key infrastructure development projects including a 10,000km road network and Lamu Port and South Sudan Ethiopia Transport (Lapsset) Corridor. (Source: Business Daily)

Equity trading expectations

-Demand on banking counters ahead of full year results release.

-Demand on Safaricom. Touched a high of KES 15.50 last week.

-Activity on Uchumi following 1H15 results release.

How to Accomplish Great Things (1)

'...Those who carried materials did their work with one hand and held a weapon in the other.' Nehemiah 4:17 NIV

Do you know how Nehemiah’s team rebuilt the walls of Jerusalem? With a sword in one hand and a trowel in the other. Why is that significant? Because even though God gives you the plan, the chances are you’ll have to fight for it. Not everyone wants you to succeed. In fact, some will do everything they can to stop you. That’s when you must constantly remind yourself that God gave you the plan, that He’s on your side, and that if you’re willing to persevere, you’ll win. 

God guarantees it! 

Listen to what Nehemiah’s enemies said about him: ‘It is reported…you are about to become their king and have even appointed prophets to make this proclamation about you in Jerusalem: “There is a king in Judah!” Now this report will get back to the king…’ (Nehemiah 6:6–7 NIV) 

Nehemiah had to overcome threats and intimidation. He wrote: ‘…They were scheming to harm me; so I sent messengers to them with this reply: “I am carrying on a great project and cannot go down. Why should the work stop while I leave it to go down to you?”’ (Nehemiah 6:2–3 NIV) 

Every minute devoted to your critics is time stolen from your God–given assignment. Don’t step down to their level! It’s not what your enemies say that matters; it’s what what God’s Word says to you when your enemies have finished talking that matters. ‘[Nehemiah] answered them by saying, “The God of Heaven will give us success…but as for you, you will have no share in Jerusalem or any claim…to it.”’ (Nehemiah 2:20 NIV) 

Now that’s the winning attitude.

#BrandNewSong INDEPENDENT WOMAN Check It Out!!!!

Here is my BRAND NEW song, Independent woman is a song that highlights domestic violence. It's an awareness song that calls on everyone to unite against domestic violence. Spread the word Santons!!!!!!

#IndependentWomanKe

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Baby Giraffe's Lesson On Survival

Baby giraffes never go to school. But they learn a very important lesson rather early in life. A lesson that
all of us would do well to remember.
The birth of a baby giraffe is quite an earth-shaking event. The baby falls from its mother's womb, some eight feet above the ground. It shrivels up and lies still, too weak to move.

The mother giraffe lovingly lowers her neck to smooch the baby giraffe. And then something unbelievable happens. She lifts her long leg and kicks the baby giraffe, sending it flying up in the air and tumbling down on the ground.

As the baby lies curled up, the mother kicks the baby again and again until the baby giraffe, still trembling and tired, pushes its limbs and for the first time learns to stand on its feet.

Happy to see the baby standing on its own feet, the mother giraffe comes over and gives it yet another kick. The baby giraffe falls one more time, but now quickly recovers and stands up.

Mama Giraffe is delighted. She knows that her baby has learnt an important lesson:

Never mind how hard you fall, always remember to pick yourself up and get back on your feet.

Why does the mother giraffe do this? She knows that lions and leopards love giraffe meat. So unless the baby giraffe quickly learns to stand and run with the pack, it will have no chance of survival.

Most of us though are not quite as lucky as baby giraffes. No one teaches us to stand up every time we fall. When we fail, when we are down, we just give up.

No one kicks us out of our comfort zone to remind us that to survive and succeed, we need to learn to get back on our feet.

This message is to everyone who hasn't given up and those who will always have the courage to get back , dust everything off and start again.

The Power of Saying I Love You

One of the most basic psychological needs, at the core of being human, is the need love and to be loved.  As a matter of fact, I would say that love is one of nature’s most powerful forces.  It drives us to do all sorts of daring and ridiculous things as we seek to find that special someone and strengthen the connection we have with those significant others already in our lives.  Love is a critical cog in the healthy personality wheel of life.

Showing and expressing love, however, is easy for some and nearly impossible for others.  One of the things that I have always found interesting is that some people seem to have no trouble showing affection and proclaiming their love, while others seem unable to even say the words not to mention show the emotion.  It is, however, very important for us to hear those words.  Saying “I love you” is good for both parties but it is particularly important for those we love to hear us say it.  Those who have trouble saying those words are often very loving people who, even though they don’t say it, show their love in other ways.  Even though there is no doubt that they love you, there is no replacement for hearing those three precious words.     

If you are one of those people who, for whatever reason, does not tell those you love that you love them, why not make today the day you change that?  Choose someone in your life that you truly love and tell them today.  There is no greater gift to give them and it will open you up in ways you can’t even imagine! 

All in all I LOVE YOU beyond Description!

THOUGHTS OF THE DAY

• If you’re not early, you’re late (to practice or meetings!)
• Be prepared
• Consider the team (your department & colleagues) first and foremost
• Show up and play full out—there is no room on a team for laziness
• Coaches are always watching, not just at try-outs (a.k.a. when you get hired or have your annual review coming up!)
• Work hard to leverage your strengths
• Mistakes are bound to happen. Your character is defined by how you react to them and then what you do about them
• Be accountable. Know your position, what you’re responsible for, and what you are supposed to deliver at game time (understand your role, manage your tasks, and contribute to the end-goal)
• If you blame and shame, no one wants to hang with you!
• Practice to your full potential and play through the last second of every practice and every game (follow-up and follow-through)
• Momentum comes from positivity… Find what is right and build on it!

Have a blessed day

10 ways how a woman should treat her man

Image: Courtesy

Here’s what I’ve learned so far from the relationships that I’ve been in and also watching others in relationships. Please feel free to comment especially if I left anything out. 

10. Whether it’s time alone or time to spend with buddies, give your man space. Just like girls need their space, so do men. It’s a form of regenerating. They’ll appreciate it. 

9. Try to never contradict or embarrass him in front of his friends, co-workers, or family. That can be very emasculating. Sometimes you might have to really bite your tongue, but you can talk to him later when you’re both alone and it’ll show that you respect him. 

8. Do not nag him. If he doesn’t want to change on his own accord, your nagging is only going to push him away. Evaluate the seriousness of the problem. If you feel it’s pretty important that you bring an issue up...then do so. Afterwards leave it alone. Except that he may try, but not be able to make it perfect. Continue to compliment him on the effort. Set non-verbal examples. See what follows. 

7. Never, ever talk badly about your man. Whatever fight you had, it’s between you two. Don’t tell your girlfriends, your boss, or God forbid, your mother. 

6. Let him be a man, so he can treat you like a lady. Let him open the doors for you, pay for meals, protect you...etc. etc. It’ll make him feel good. 

5. No cheating and no flirting. Without trust, a relationship is worthless. If you find yourself wanting to do either, then you must ask yourself why you’re still in the relationship. 

4. Listen first, and then talk. Let him finish what he has to say before you interrupt. Ask questions if you’re not sure about what he said. 

3. Don’t expect it to be all about you. Appreciate all the things he does- big or small. Do nice things for him too. 

2. Leave your excess emotional baggage behind. For example, just because your ex-boyfriend cheated doesn’t mean this one will. Give your man a chance. Another example, just because you’ve loved once doesn’t mean you can’t love again. Be open to forming an exciting new love story. If you can’t move on from your past love...then what are you doing in a new relationship right now. Rebound. 

1. Take care of yourself. Emotionally and physically. Don’t place your friends and family on the back burner when it comes to your relationship. Same goes for hobbies and interests. It can be tempting in new romances to want to spend every minute with the guy, but give your man a kiss and say you’ll be back in a few hours. Also, don’t get too comfortable with your guy by getting lax on the way you dress ( i.e. sweat pants all the time ) and personal hygiene ( i.e. not shaving your legs )...haha gross. You’re guy will appreciate it.

A LETTER TO MY COLLEAGUE

Dear colleague,

I am writing this letter with a smile on my face

A smile that you would wish it was otherwise

In fact am shading tears of happiness

When you expected I would shade tears of sadness.

Dear, my lips cannot stop humming a melody

It is a jubilant song, not a dirge

The joy I feel in my heart is just out of this world.

Thank you for making me happy

Many a times, I overheard you telling my boss what I could call despicable stories.

Whoever you were constantly describing was not me

You do not know me

And you know it.

The frequent smiles you wear every time I show up only means I lighten up your world

You put on a plastic smile which in end turns out to be real

You shade crocodile tears every time I face a challenge, but in the end it is food to my soul

You choose to dwell on my weakness something I find God-sent as it helps me change for the better

I pose a threat to the high and mighty – my weakness

All departments in the company feel the threat, yet it is not my wish

I am a very creative, intelligent and decent person with a heart of an angel.

Which sane employer can hate that?

Hate me or love me, my dreams will never be shattered

Since childhood I knew that I will always be a target but not a victim

This is a battle that I am going to win for I am not alone.

I know you do not believe me for you can only see me and me alone

Yet the unseen commander is the most powerful in the whole universe.

Ha! Ha! Ha! Ha! … Sorry, I had to laugh

Let me just laugh as this is so funny I swear!

Have you ever wondered why I am referred to as Chris Michael Senior Jatelo?

Chris Michael is pure whereas Senior Jatelo is the head and not the tail

Did I say the president and other top government officials know me?

Did I even mention that many people die just to get my autograph?

Please, my friend, learn to be smart as to learn from the best in society.

Do not feel offended when a brother is being elevated, that is his time and your time will come.

Who will change my destiny? NO ONE!

Who will destroy me? NO ONE!

Only God has the key to my destiny

He is the only one who can destroy me when He has the reason to.

Or am I lying God?

Yours truly,

HIMSELF

Types Of Husbands

1: BACHELOR HUSBAND:
Does things on his own without consulting wife. Hangs out a lot with friends. Not serious about marriage life.
 
2: ACIDIC HUSBAND:
Boils like acid 24/7(lol)...irritated and always angry, violent, moody, dominating and very dangerous.

3: SLAVE HUSBAND:
Wants to be treated like King but treats Wife
like a Slave. Likes wife to perform old traditional methods and hates being called by their first name.

4: GENERAL HUSBAND:
Husband for every woman. loves and cares for girlfriends more than his wife. Always giving money
to girlfriends and has more female friends.

5: DRY HUSBAND:
Very moody and stingy,doesn't consider wife's emotions and the relationship isn't enjoyable.
Has no sense of humour.

6: PANADOL HUSBAND:
Uses wife as a problem solver, only loves wife when in need of something. Thinks he's clever,knows wife's
weaknesses and capitalize on them.

7: PARASITE HUSBAND:
Lazy and only loves wife for her money. Uses wife's money on girlfriends.

8: BABY HUSBAND:
Irresponsible, childish and can't make decisions on his own without asking his Mother or relatives; compares Wife to relatives and runs to them always if something goes wrong.

9: VISITING HUSBAND:
Not always at home... comes as a visitor
Provides family with all material things but has no time for them.

10: CARING HUSBAND:
Caring and loving.Provides material and emotional needs.
Makes out time
for family. Guides home spiritually.
Very responsible and treats wife as a partner and helper.

Ladies, what kind of husband do you have or
would want to Have?

Guys,what kind of husband are you or would want to
Be?

6 common investment strategies of fund managers

The criteria that mutual fund managers use to select their assets vary widely according to the individual manager. So when choosing a fund, you should look closely at the manager's investment style to make sure it fits your risk-reward profile.

"Investment style is incredibly important because of the way that investing works," says Chris Geczy, director of The Wharton School's wealth management program at the University of Pennsylvania.

"Both risk and return are connected to style. According to current practice portfolio theory, you can optimize a blend of styles for diversification, balancing reward and risk."

Here's a look at a half-dozen common investment strategies among fund managers.

• Top-down investing
• Bottom-up investing
• Fundamental analysis

• Technical analysis
• Contrarian investing
• Dividend investing

Top-down or bottom-up investing

Top-down investing strategies involve choosing assets based on a big theme.

For example, if a fund manager anticipates that the economy will grow sharply, he or she might buy stocks across the board. Or the manager might just buy stocks in particular economic sectors, such as industrial and high technology, which tend to outperform when the economy is strong.

If the manager expects the economy to slump, it may spur him or her to sell stocks or purchase shares in defensive industries such as health care and consumer staples.

Bottom-up managers choose stocks based on the strength of an individual company, regardless of what's happening in the economy as a whole or the sector in which that company lies.

"The great advantage of top-down is that you're looking at the forest rather than the trees," says Mick Heyman, an independent financial adviser in San Diego. That makes screening for stocks or other investments easier.

And, "When you're right, you're really right," says Tim Ghriskey, co-founder of Solaris Asset Management in Bedford Hills, New York.

Of course, managers might be wrong on their big idea. And even if they're right, that doesn't guarantee they'll choose the right investments.

"A good example is gold," says James Holtzman, a shareholder at Legend Financial Advisors in Pittsburgh. "That would make sense for a top-down investor. But what if you're looking at a gold-mining stock and the company is being run into the ground? The particular stock could be ready to collapse, even though investing in gold makes sense."

A bottom-up manager benefits from thorough research on an individual company, but a market plunge often pulls even the strongest investments down.

Fundamental or technical analysis

Fundamental analysis involves evaluating all the factors that affect an investment's performance. For a stock, it would mean looking at all of the company's financial information, and it may also entail meeting with company executives, employees, suppliers, customers and competitors. "You want to analyze management, really understand what's driving the company and where growth is coming from," Heyman says.