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I&M Bank FY 2011 results
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VituVingiSana
#31 Posted : Tuesday, May 24, 2011 7:54:46 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,362
Location: Nairobi
Wazua leads, other follow!
http://www.businessdaily.../-/67k89vz/-/index.html

"I&M private share sale nets 2.4bn for expansion"

Has anyone used the M-Pesa + Prepaid Debit Card?
[If you have M-Pesa why would you need a Prepaid Card?]
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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The Merchant
#32 Posted : Tuesday, May 24, 2011 8:20:30 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
VituVingiSana wrote:
Wazua leads, other follow!
http://www.businessdaily.../-/67k89vz/-/index.html

"I&M private share sale nets 2.4bn for expansion"

Has anyone used the M-Pesa + Prepaid Debit Card?
[If you have M-Pesa why would you need a Prepaid Card?]

To load up your card via mpesa when you are abroad (ask someone to mpesa you). CRAZY!! Applause
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The Merchant
#33 Posted : Tuesday, May 24, 2011 8:25:32 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
I&M had a major marketing campaign last year which brought in alot of new deposits, hence the phenomenal growth in deposit base. IM not so sure the deposits will grow that fast this year though. Investors, however, seem to love this company including the wazua folk. We should have formed a co. ASAP and bought the minimum shares on offer. Hmmmm...
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VituVingiSana
#34 Posted : Tuesday, May 24, 2011 8:27:08 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,362
Location: Nairobi
The Merchant wrote:
VituVingiSana wrote:
Wazua leads, other follow!
http://www.businessdaily.../-/67k89vz/-/index.html

"I&M private share sale nets 2.4bn for expansion"

Has anyone used the M-Pesa + Prepaid Debit Card?
[If you have M-Pesa why would you need a Prepaid Card?]

To load up your card via mpesa when you are abroad (ask someone to mpesa you). CRAZY!! Applause

Lakini, isn't the Prepaid card in Kenya Shillings? [I know there is a US$ Prepaid Card but is that linked to M-Pesa too?]

I do not understand the benefit to someone in Kenya. Or is it geared towards regional travel where M-Pesa does not work?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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The Merchant
#35 Posted : Tuesday, May 24, 2011 8:28:06 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
Check out this quote from the article (and don't bash me because its from an analyst,he could be one of us):

'Though the management of the bank said that they had no immediate plans float an IPO, analysts said they expected I&M to list in three to four years.“Development partners usually have an exit strategy and the best exit for them in Sub-Sahara has been listing,” said Mr Mwangi.'
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VituVingiSana
#36 Posted : Tuesday, May 24, 2011 8:32:33 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,362
Location: Nairobi
VituVingiSana wrote:
Wazua leads, other follow!
http://www.businessdaily.../-/67k89vz/-/index.html

"I&M private share sale nets 2.4bn for expansion"
Sorry, this was the item I wanted to highlight! Wazuans were way ahead about discussing these firms and events.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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youcan'tstopusnow
#37 Posted : Tuesday, May 24, 2011 9:56:43 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
VVS, I bet there is BDAFRICA writer who is a registered member of Wazua.
GOD BLESS YOUR LIFE
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VituVingiSana
#38 Posted : Wednesday, May 25, 2011 6:17:17 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,362
Location: Nairobi
The Merchant wrote:
Investors, however, seem to love this company including the wazua folk. We should have formed a co. ASAP and bought the minimum shares on offer. Hmmmm...
That is an excellent idea! 20mn is a lot of cash for one person but not for 20 joined together!

Apparently the CMA (Company Act) wanted less than 100 shareholders thus to raise 2.4bn I&M Bank needed to sell large chunks to each investor. Even then it was 26% oversubscribed without widespread advertising.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#39 Posted : Wednesday, May 25, 2011 6:18:50 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,362
Location: Nairobi
The Merchant wrote:
Check out this quote from the article (and don't bash me because its from an analyst,he could be one of us):

'Though the management of the bank said that they had no immediate plans float an IPO, analysts said they expected I&M to list in three to four years.“Development partners usually have an exit strategy and the best exit for them in Sub-Sahara has been listing,” said Mr Mwangi.'
I would say 2 years from now [after the 2012 elections] so 2013 unless we have a repeat of 2008!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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The Merchant
#40 Posted : Wednesday, May 25, 2011 9:11:04 AM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
VituVingiSana wrote:
The Merchant wrote:
Investors, however, seem to love this company including the wazua folk. We should have formed a co. ASAP and bought the minimum shares on offer. Hmmmm...
That is an excellent idea! 20mn is a lot of cash for one person but not for 20 joined together!

Apparently the CMA (Company Act) wanted less than 100 shareholders thus to raise 2.4bn I&M Bank needed to sell large chunks to each investor. Even then it was 26% oversubscribed without widespread advertising.


Yup! 20 of us put in a million each and there we are, we can start discussing a company we own part of. Just sacrifice a few tuskers each!!!!Laughing out loudly
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