Ericsson wrote:This will be another Ecobank Kenya;the company may begin to slide in the loss making territory.
there must be something the Chandaria knew which is why they have sold majority of their stake.
Nigeria’s Guaranty Trust Bank will lean on its acquisition of Fina Bank to tap the emerging lending opportunities in East Africa’s oil and minerals sector, a director of the Kenyan lender has said. Most banks don’t have the capacity to play in this league,” UBA Bank Kenya’s chief executive Tunji Adeniyi, told participants at an oil and gas conference held in Nairobi in February.
The Banking Supervision Annual Report 2012 shows that Kenya’s 44 commercial banks and eight deposit-taking microfinance institutions had Sh2.33 trillion ($27 billion) in net assets as at the end of last year.
By comparison, Guaranty Trust Bank had $10.76 billion (Sh937 billion) or two-fifths of the Kenyan industry’s combined balance sheet at the end of December.
I dont know but i suspect the Nigerians and Foreigners increasing their investments on EA companies know what they are doing.This will be more clearer probably after five years when the Eastern Africa (Tanzania,Mozambique,Kenya,Uganda) economy will be something different with discovery of oil and other minerals..
“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”