@moneydust - Many Funds [Local + Foreign] stayed out coz of the December timing... The speculators will be cleaned up in no time as these guys get into the market! My strategy is to buy good firms at reasonable prices...
1) Electricity demand expected to grow at least 8% annually [I think it will be faster if supply can keep up. Look at the NEW construction all over the COUNTRY not just Nairobi. A recent trip I made to Muranga, Kangema, etc opened my eyes to the booming construction outside Nairobi]
2) Cheaper Loans [per the IM] from multi-lateral donors
3) Bond Issue possible for local Long-term financing
4) New projects coming online in 2011 [160MW] plus more lined up for 2012 onwards
5) Thermal generation on stand-by in case of drought. Expensive but no electricity is even pricier!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett