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Strong Umeme H1 2013 Earnings
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VituVingiSana
#11 Posted : Monday, August 26, 2013 12:15:45 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
the deal wrote:
VituVingiSana wrote:
[quote=the deal]CBK pension scheme buys stake in Umeme

http://www.theeastafrica...2/-/4f99v2/-/index.html[/quote] The same chaps who are in charge of the KES going from 82 to 107 to 84 within 3 months...

Better investment than the Kenya Power thing you used to hype...Laughing out loudly I wonder what happened to your love for Kenya Power....
As I said, I have learnt an expensive lesson. Do not invest in firms controlled by GoK. Period. I am out of KPLC & KQ. And happy that I bailed in time.

http://www.wazua.co.ke/f...sts&t=23358&p=2 See#40

Now, back to the core question. What is Amendment No. 4?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#12 Posted : Monday, August 26, 2013 12:20:45 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
the deal wrote:
VituVingiSana wrote:
[quote=the deal]CBK pension scheme buys stake in Umeme

http://www.theeastafrica...2/-/4f99v2/-/index.html[/quote] The same chaps who are in charge of the KES going from 82 to 107 to 84 within 3 months...

Better investment than the Kenya Power thing you used to hype...Laughing out loudly I wonder what happened to your love for Kenya Power....

Here: http://www.wazua.co.ke/f...spx?g=posts&t=24643
I admitted my mistakes especially with KPLC. Unlike you, I have seen many ups & downs. I hope I have learnt some lessons. d'oh! d'oh! d'oh! ... Don't repeat my mistakes!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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the deal
#13 Posted : Monday, August 26, 2013 12:55:15 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
VituVingiSana wrote:
the deal wrote:
VituVingiSana wrote:
[quote=the deal]CBK pension scheme buys stake in Umeme

http://www.theeastafrica...2/-/4f99v2/-/index.html[/quote] The same chaps who are in charge of the KES going from 82 to 107 to 84 within 3 months...

Better investment than the Kenya Power thing you used to hype...Laughing out loudly I wonder what happened to your love for Kenya Power....

Here: http://www.wazua.co.ke/f...spx?g=posts&t=24643
I admitted my mistakes especially with KPLC. Unlike you, I have seen many ups & downs. I hope I have learnt some lessons. d'oh! d'oh! d'oh! ... Don't repeat my mistakes!
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the deal
#14 Posted : Monday, August 26, 2013 12:59:42 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
VituVingiSana wrote:
the deal wrote:
VituVingiSana wrote:
[quote=the deal]CBK pension scheme buys stake in Umeme

http://www.theeastafrica...2/-/4f99v2/-/index.html[/quote] The same chaps who are in charge of the KES going from 82 to 107 to 84 within 3 months...

Better investment than the Kenya Power thing you used to hype...Laughing out loudly I wonder what happened to your love for Kenya Power....

Here: http://www.wazua.co.ke/f...spx?g=posts&t=24643
I admitted my mistakes especially with KPLC. Unlike you, I have seen many ups & downs. I hope I have learnt some lessons. d'oh! d'oh! d'oh! ... Don't repeat my mistakes!
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the deal
#15 Posted : Monday, August 26, 2013 1:04:05 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@VVS Naah I kiss frogs too...the amendment above is about the cash Umeme was getting for surplus sales...Umeme will no longer receive this offcourse Umeme is against it cos the company was using the cash to upgrade its network...the cash is too small to have a material impact though...

On Umeme...

1. Umeme is run by Actis
2. Look at the low elec penetration in UG...huge untaped market!
3. Strong regulation in UG is helping Umeme stay on its toes and helping it deliver for both UG & Shareholders. I tend to think Kenya made a mistake on giving tariff hikes to Kenya Power like that without setting perfomance targets for the company. Tariff hikes didnt help Kenya Power...rather the company became addicted to them...offcourse it wasnt sustainable...look now!
4. I know one day Actis will exit Umeme...depending on who buys out Actis...I might stay put...if its UG Gava I will exit.
5. Key lesson I have learned government regulation is now a key determinant in making an investment decision.
6. Thus I'm worried about KK...we might never see the glory days again!

So far so good...as far as Umeme is concerned smile
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mkonomtupu
#16 Posted : Monday, August 26, 2013 2:22:13 PM
Rank: Veteran

Joined: 2/10/2010
Posts: 1,001
Location: River Road
the deal wrote:
@VVS Naah I kiss frogs too...the amendment above is about the cash Umeme was getting for surplus sales...Umeme will no longer receive this offcourse Umeme is against it cos the company was using the cash to upgrade its network...the cash is too small to have a material impact though...

On Umeme...

1. Umeme is run by Actis
2. Look at the low elec penetration in UG...huge untaped market!
3. Strong regulation in UG is helping Umeme stay on its toes and helping it deliver for both UG & Shareholders. I tend to think Kenya made a mistake on giving tariff hikes to Kenya Power like that without setting perfomance targets for the company. Tariff hikes didnt help Kenya Power...rather the company became addicted to them...offcourse it wasnt sustainable...look now!
4. I know one day Actis will exit Umeme...depending on who buys out Actis...I might stay put...if its UG Gava I will exit.
5. Key lesson I have learned government regulation is now a key determinant in making an investment decision.
6. Thus I'm worried about KK...we might never see the glory days again!

So far so good...as far as Umeme is concerned smile



@deal all the best in monitoring this investment eventually the UG govt will do the same thing that GoK did to kenya power, public outcry and you get more regulation. I don't like the idea of private capital funding public infrastructure it never works well in Africa. Makes no sense to spend your private equity while the govts are busy wasting taxes on useless expenditures. Dealing with african govt's is like dealing with a conman you never know the exact moment until you get well and truly shafted
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