Mwalimu Sacco buys 51pc of ECB - Page 2 - Stocks - Wazua

Welcome Guest

Wazua » Investor » Stocks » Mwalimu Sacco buys 51pc of ECB

4 Pages<1234>

Mwalimu Sacco buys 51pc of ECB

Options

Previous Topic · Next Topic

streetwise		#11 Posted : Thursday, January 29, 2015 7:57:56 AM
Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi		I think the character of the person is what is in question. Then ask yourself why the Sacco is in a hurry to become a bank, does this service the members interest.
Back to top		\|
User Profile

Sober		#12 Posted : Thursday, January 29, 2015 8:35:22 AM
Rank: Elder Joined: 11/27/2007 Posts: 3,604		Ericsson wrote: @Sober SOber up gava has stopped the transaction to allow further probe.The sacco might be buying an empty shell Very true. Ksh 1.6b! Does this mean that they valued the bank at 3.2 Billion?! African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
Back to top		\|
User Profile

Sober		#13 Posted : Thursday, January 29, 2015 8:40:58 AM
Rank: Elder Joined: 11/27/2007 Posts: 3,604		luxel wrote: It's so unfortune that teachers are fighting for salary increment while they are losing so much on other deals. Merali seems eager to sell 100%. The teachers should restrict and leave him with 40% then lock him for 5 years. The MD of this bank used to be the MD of the Sacco. The Cooperative Alliance Chief executive asked "why a bank which is worth an eighth of the Sacco's assets being bought without members being informed about the transaction " African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
Back to top		\|
User Profile

gmg		#14 Posted : Thursday, January 29, 2015 9:38:53 AM
Rank: Member Joined: 3/17/2009 Posts: 201		the sacco needs to get innovative in lending to teachers the 1.6 billion its using to buy the bank. but remember the sacco CEO was once the Banks Finance Director so they are facilitating the deal going the the kenyan Kickback rates of 10% there are pple pocketing ksh 160 million. The deal has to be forced through. The bank has been making losses I WONDER THE INTENTIONS OF A SACCO OWNING A LOSS MAKING BANK to carry out operations which the sacco is more efficient in.
Back to top		\|
User Profile

IDP		#15 Posted : Thursday, January 29, 2015 9:48:32 AM
Rank: Member Joined: 8/26/2009 Posts: 76		All Saccos want to transform into banks at some point, but getting the banking license is almost impossible bcoz Government does not respect saccos. Mwalimu sacco is just buying the banking license not the damn bank.
Back to top		\|
User Profile

hisah		#16 Posted : Tuesday, March 31, 2015 2:35:35 AM
Rank: Chief Joined: 8/4/2010 Posts: 8,977		hisah wrote: Ericsson wrote: @Sober SOber up gava has stopped the transaction to allow further probe.The sacco might be buying an empty shell Merali to cede control of the bank? Fishy deal. A particular sacco was wanjikud so will read a future headline. That didn't take long... Equatorial Commercial Bank loss after tax stands at Sh326.4m Quote: The bank said it set aside a total of Sh880.8 million to cover bad debts, a 915 per cent jump from the Sh87 million it set aside over a similar period the previous year. Hope mwalimu sacco knows how to swim in shark infested waters. This NPL shadowy animal still lingers in the KE banking sector. Risk departments at the banks are on toes if their models are right. Caging that animal is taking extra effort... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
Back to top		\| \| Edit by user: Tuesday, March 31, 2015 2:37 AM \| Reason: Not specified
User Profile

murchr		#17 Posted : Tuesday, March 31, 2015 4:22:45 AM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		hisah wrote: hisah wrote: Ericsson wrote: @Sober SOber up gava has stopped the transaction to allow further probe.The sacco might be buying an empty shell Merali to cede control of the bank? Fishy deal. A particular sacco was wanjikud so will read a future headline. That didn't take long... Equatorial Commercial Bank loss after tax stands at Sh326.4m Quote: The bank said it set aside a total of Sh880.8 million to cover bad debts, a 915 per cent jump from the Sh87 million it set aside over a similar period the previous year. Hope mwalimu sacco knows how to swim in shark infested waters. This NPL shadowy animal still lingers in the KE banking sector. Risk departments at the banks are on toes if their models are right. Caging that animal is taking extra effort... I've been waiting for this bombshell, i believe this is not all... "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 .
Back to top		\|
User Profile

MaichBlack		#18 Posted : Tuesday, March 31, 2015 8:33:43 AM
Rank: Elder Joined: 7/22/2009 Posts: 7,836		MaichBlack wrote: This totally stinks. Sacco money being flushed down the toilet and quite a good number of people must be on the take. The chicken on this must have been more than the usual 10% given the number of people who must have been on the take - from Sacco officials to regulatory bodies!!! Link MaichBlack wrote: YoungMulla wrote: Merali giving away a controlling stake?? That alone should raise enough eyebrows I hope the Sacco can still get their money back. I also hope this does not end up being a protracted court battle. If only our so called parliamentarians were not so busy with things that don't help Kenyans! We need tough laws in the areas of corporate governance/financial sectors/Securities exchange etc. If some of these fellows pulled the stunts they pull here in the US, they would earn a cool 50 years in jail!!! We told them! They didn't even need consultants. They could have got the information + a stern warning to keep off from Wazuans free of charge! Or they should have just given @vvs a call. He knows this man better than most people! But I guess the chicken was too sweet! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Back to top		\|
User Profile

Angelica _ann		#19 Posted : Tuesday, March 31, 2015 9:27:23 AM
Rank: Elder Joined: 12/7/2012 Posts: 11,935		Sacco officials are one of the major groups who specializes in eating chicken. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Back to top		\|
User Profile

Othelo		#20 Posted : Wednesday, July 06, 2016 8:08:53 AM
Rank: User Joined: 1/20/2014 Posts: 3,528		http://www.businessdaily...4/-/jmtjy0/-/index.html Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
Back to top		\|
User Profile

4 Pages<1234>

Wazua » Investor » Stocks » Mwalimu Sacco buys 51pc of ECB

Forum Jump

You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Watch this topic
Print this topic

Normal
Threaded