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Eddy Njoroge retires from KenGen
Rank: Elder Joined: 6/27/2008 Posts: 4,114
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CaptainGG wrote:Let him retire, it was never a permanent position. We have other eligible Kenyans too. You complain Muthaura, Nyoike etc are old yet you still want them to remain in office. Kenyans are very strange.
And you are the strangest of them... have you heard @Ob1 kanobi complaining about the age of Muthaura, Nyoike etc? Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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murchr wrote:Jamani wrote:murchr wrote:
I was referring to his decision to quit despite having a contract that would expire in 2015.
Quote from BD “He quit for undisclosed personal reasons. It has nothing to do with the retirement age since we gave a new five year contract that was to run beyond the 60 years,” said a KenGen director who sought anonymity because he is not the board’s spokesperson. Quote:I will ignore the highlighted comment..... and wont google i already know the answers to it but will again question the alleged sh800M deal murchr wrote: Quote:Stock price right now says nothing. I will say anything in 2030.
I agree with Itz. Eddy was/is top notch. Being a christian I guess he couldnt stand going against what is right . On the 800M do yourself a favor and join the Mpigs as they are interrogating him, when the time comes. He's still MD till next year He already did us a favour by quitting much to your disappointment
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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tajiri wrote:Good riddance.. This guy borrowed money very expensively when the market for credit was cheap. To make matters worse, this was such a long term bond that will affect Kengen for years. He even went further to use the green shoe option to take the extra cash when he did not need it. Of course they were the institutional investors who bought the bonds..tax free income!! As an investor and shareholder of Kengen, I would have sacked him a long time ago.. He has tried to expand the organisation, given massive contracts to questionable organisations, ring fenced the IPPs resulting in expensive energy... Bye bye. This share will never recover, power remains expensive, cost of business continues to rise.. Facts as they are, plain and simple. 
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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tassia wrote:Jamani wrote:murchr wrote:
I was referring to his decision to quit despite having a contract that would expire in 2015.
Quote from BD “He quit for undisclosed personal reasons. It has nothing to do with the retirement age since we gave a new five year contract that was to run beyond the 60 years,” said a KenGen director who sought anonymity because he is not the board’s spokesperson. Where did BD get this silly comment. NTV aired a video of him stating the reasons for his resignation. Or may be BD means they are not disclosing the reasons to their readers even after Njoroge said it all? You may read it for yourself in this link
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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tajiri wrote:Good riddance.. This guy borrowed money very expensively when the market for credit was cheap. To make matters worse, this was such a long term bond that will affect Kengen for years. I think he did well. At least the next guy will be taking on a well established company. As for borrowing money expensively, there's no expensive money, it only becomes expensive if you don't use it well.
BBI will solve it :)
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Rank: New-farer Joined: 11/12/2012 Posts: 92
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murchr wrote:sentinel prime wrote:the stock price says it all.....and agrekko. Stock price right now says nothing. I will say anything in 2030. I agree with Itz. Eddy was/is top notch. Being a christian I guess he couldnt stand going against what is right. if you look at the facts ....this **** has screwed kengen and Kenyans for the next 20 yrs or so. is this your hero????
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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sentinel prime wrote:murchr wrote:sentinel prime wrote:the stock price says it all.....and agrekko. Stock price right now says nothing. I will say anything in 2030. I agree with Itz. Eddy was/is top notch. Being a christian I guess he couldnt stand going against what is right. if you look at the facts ....this **** has screwed kengen and Kenyans for the next 20 yrs or so. is this your hero???? No he is from my tribe.... 
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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You guys realy like it when there is some blood on the streets! Change is good, let Njoroge go. Kenya is not short of talent. He will be replaced by capable talent tribe or no tribe, religion or no religion. Thieves
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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King G wrote:You guys realy like it when there is some blood on the streets!
Change is good, let Njoroge go. Kenya is not short of talent. He will be replaced by capable talent tribe or no tribe, religion or no religion.
Well said... and we are just saying it as it is, no blood, no love lost, no tribe no religion but the reality as it is... he did some good things, leaving with some bad allegations on him and he will be replaced with the right qualified person, from his tribe or any other.
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Rank: Member Joined: 7/6/2010 Posts: 242
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Truth of the matter is that the company has borrowed extensively to finance ongoing projects such as Olkaria 280mw geothermal project. The company has also embarked on ambitious expansion through PPP concept for 560 MW on the same Olkaria field.One wonders why the hurry yet.....
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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josimar wrote: Truth of the matter is that the company has borrowed extensively to finance ongoing projects such as Olkaria 280mw geothermal project. The company has also embarked on ambitious expansion through PPP concept for 560 MW on the same Olkaria field.One wonders why the hurry yet..... I am surprised that you cannot see the urgency; - to increase our power output to some reasonable level, SA has over 20,000 MW installed capacity for approx. 50M people while ours is a paltry 1,400MW at best for 40M people. - we need to replace the expensive diesel generators with long term clean sources of power. The loans you are referring to are so cheap, the effective interest rate on the loans are less than 5% (see FS). Why would you complain abt such a cheap loan thats being put to good use. "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Obi 1 Kanobi wrote:josimar wrote: Truth of the matter is that the company has borrowed extensively to finance ongoing projects such as Olkaria 280mw geothermal project. The company has also embarked on ambitious expansion through PPP concept for 560 MW on the same Olkaria field.One wonders why the hurry yet..... I am surprised that you cannot see the urgency; - to increase our power output to some reasonable level, SA has over 20,000 MW installed capacity for approx. 50M people while ours is a paltry 1,400MW at best for 40M people. - we need to replace the expensive diesel generators with long term clean sources of power. The loans you are referring to are so cheap, the effective interest rate on the loans are less than 5% (see FS). Why would you complain abt such a cheap loan thats being put to good use. Others are 1% "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Jamani wrote:murchr wrote:Jamani wrote:murchr wrote:
I was referring to his decision to quit despite having a contract that would expire in 2015.
Quote from BD “He quit for undisclosed personal reasons. It has nothing to do with the retirement age since we gave a new five year contract that was to run beyond the 60 years,” said a KenGen director who sought anonymity because he is not the board’s spokesperson. Quote:I will ignore the highlighted comment..... and wont google i already know the answers to it but will again question the alleged sh800M deal murchr wrote: Quote:Stock price right now says nothing. I will say anything in 2030.
I agree with Itz. Eddy was/is top notch. Being a christian I guess he couldnt stand going against what is right . On the 800M do yourself a favor and join the Mpigs as they are interrogating him, when the time comes. He's still MD till next year He already did us a favour by quitting much to your disappointment I aint dissappointed. Not at all. Unlike you, I dont mind of what I will have today. I look into the future and in that, Eddy represented my interests. I knew well enough that he is not immortal and expected it. The guy has done good, from my view, if you don't like him because he is not from your tribe, then thats your problem and it has nothing to do with me. I just hope the next person is Dr. Simiyu. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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murchr wrote:Jamani wrote:murchr wrote:Jamani wrote:murchr wrote:
I was referring to his decision to quit despite having a contract that would expire in 2015.
Quote from BD “He quit for undisclosed personal reasons. It has nothing to do with the retirement age since we gave a new five year contract that was to run beyond the 60 years,” said a KenGen director who sought anonymity because he is not the board’s spokesperson. Quote:I will ignore the highlighted comment..... and wont google i already know the answers to it but will again question the alleged sh800M deal murchr wrote: Quote:Stock price right now says nothing. I will say anything in 2030.
I agree with Itz. Eddy was/is top notch. Being a christian I guess he couldnt stand going against what is right . On the 800M do yourself a favor and join the Mpigs as they are interrogating him, when the time comes. He's still MD till next year He already did us a favour by quitting much to your disappointment I aint dissappointed. Not at all. Unlike you, I dont mind of what I will have today. I look into the future and in that, Eddy represented my interests. I knew well enough that he is not immortal and expected it. The guy has done good, from my view, if you don't like him because he is not from your tribe, then thats your problem and it has nothing to do with me. I just hope the next person is Dr. Simiyu. Man read I am happy he left...Narrow thinking on tribe and not why i have issues with Njoroge... read the sh800M thats my beef nothing more. why would you think am not from his tribe? Man focus on the issue i raised not side shows
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Jamani wrote: No he is from my tribe....  "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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MR. why cant you read the context.... anyway i shall leave you alone.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Jamani wrote:MR. why cant you read the context.... anyway i shall leave you alone. You brought up the rib issue..as i tribes think. again "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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murchr wrote:Jamani wrote:MR. why cant you read the context.... anyway i shall leave you alone. You brought up the rib issue..as i tribes think. again i will use your statement dont be lazy read the context of the matter from where it started.
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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King G wrote:You guys realy like it when there is some blood on the streets!
Change is good, let Njoroge go. Kenya is not short of talent. He will be replaced by capable talent tribe or no tribe, religion or no religion.
You remind me of this comment by Mudavadi: "Gakuo has done a very good job and I think it is time we gave the job to some one else..." Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Veteran Joined: 3/12/2010 Posts: 1,199 Location: Eastlander
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Obi 1 Kanobi wrote:He announced his retirement at todays AGM. Leaves in 6 months.
A very big blow for the Company. I remember once receiving library advice from him.. "..in all your reading, please make room..immense room for Good to Great by Jim Collins." ..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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