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MJ Not in a hurry to retire
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aemathenge
#21 Posted : Friday, March 26, 2010 8:27:37 AM
Rank: Elder


Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
THIS thread is about Michael Joseph and Safaricom.

Is he Mister Clean?

What is his atitude about Mobitelea?

Will Safaricom cease to be a money making machine if he "goes"?

Will it continue continue being a money making machine if he stays?

If he goes, who has the power to appoint his successor? The Government?, Kibaki?, Raila?, the board?, Kinyua? You?
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E2D
#22 Posted : Friday, March 26, 2010 9:03:19 AM
Rank: Member


Joined: 11/13/2009
Posts: 35
@ aemathenge..100%% my vote.
surely this thread is abt a company n its leadership not a gova and it s thieves.
all the contributors ar right bt,wel..not in this thread.
Now, hav created the thread 'THIS IS IT!!!!The Kibaki Legacy.' jst for you, Poliwazurians. C u there....
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mv_ufanisi
#23 Posted : Friday, March 26, 2010 9:09:09 AM
Rank: Member


Joined: 1/15/2010
Posts: 625
I remember passing MJ during last year's Heart Run. The man is fit and he's done a good job. But retirement is healthy, it's time for him to let his baby (Safaricom) walk and hopefully run.
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VituVingiSana
#24 Posted : Friday, March 26, 2010 10:28:00 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
MJ is an EMPLOYEE of Safaricom/Vodafone PLC not mobitelea...

Even if he knew who was behind Mobitelea there is little he could have done as a foreigner not matter how good he is...
We ignored the poor (now deceased) chap who exposed goldenberg.
Jacinta Mwatale was 'demoted' (she then quit) from CBK Deputy Governor.

Mobitelea held shares in Vodafone Kenya which held shares in Safaricom. MJ was in charge of SAFARICOM not any of the shareholders in Safaricom...

The people who could have done something about mobitelea were dan moi, baks, kimunya, ringera BUT they were all in the pockets of the 'owners'...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Radiance
#25 Posted : Friday, March 26, 2010 11:42:23 AM
Rank: New-farer


Joined: 11/30/2009
Posts: 47
Location: Nairobbery
We need an indigenous kenyan at the helm! Mj can become a trustee of the foundation...
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mv_ufanisi
#26 Posted : Friday, March 26, 2010 11:55:55 AM
Rank: Member


Joined: 1/15/2010
Posts: 625
@Radiance - If he is indigenous he better be the best man for the job. The last thing you want is someone who isn't qualified running this cash cow and bleeding it just because he is local.
Need someone like Naikuni or JM or MJ himself. I'm sure we have people like that out there. Hopefully they'll come out.
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VituVingiSana
#27 Posted : Friday, March 26, 2010 12:07:28 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
@radiance - I have gone way past on the who 'indigenous' CEO...

I want the BEST guy running my firm... I am in it for the money not some career enhancement for some chap making a huge salary while my firm dies!

Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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guru267
#28 Posted : Friday, March 26, 2010 12:15:02 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
@radiance much as i would love a kenyan getting the oppurtunityn to run this firm, i'm still very skeptical reason being as much as the older generation have the knowledge, experience for the job most lack two key componentsl: ETHICS and PROFESSIONALISM.
Mark 12:29
Deuteronomy 4:16
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VituVingiSana
#29 Posted : Friday, March 26, 2010 12:29:36 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
Only QUALIFIED folks should be heading listed firms (or those owned by taxpayers e.g. parastatals)...

We saw what kenyatta & moi did by appointing friends, lovers, cronies to high-level posts!

KCB was almost ruined by arap bii. It took Gareth George (who was kicked out for going after moi's buddies) & Terry Davidson to turn around KCB.

A pity Davidson messed up his name by getting involved for only 2mn in Uchumi.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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poundfoolish
#30 Posted : Friday, March 26, 2010 2:35:32 PM
Rank: Elder


Joined: 12/2/2009
Posts: 2,458
Location: Nairobi
@ Radiance
I'd go to the moon and mass (if it becomes possible and regular) to get the right person to run the firm.. hii maneno ya a local usualy means 'a pawn to help eat'...
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2012
#31 Posted : Friday, March 26, 2010 2:45:39 PM
Rank: Elder


Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
poundfoolish wrote:
hii maneno ya a local usualy means 'a pawn to help eat'...


What a sad statement to end the week. Is that what we think of ourselves? God help this nation. Nice wkend guys. I'm off for a cold local Heineken.

Speaking of Heineken check this out and tell me if this is simply great or what?...

http://www.youtube.com/w...feature=player_embedded

BBI will solve it :)
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TTT
#32 Posted : Friday, March 26, 2010 3:01:53 PM
Rank: Member


Joined: 9/16/2009
Posts: 15
Apparently they are going to advertise the job on the Wazua website soon.
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mv_ufanisi
#33 Posted : Friday, March 26, 2010 5:06:47 PM
Rank: Member


Joined: 1/15/2010
Posts: 625
we have some pretty good people at Wazua. VVS for instance would have probably made better equity purchases than the folks at Centum. But good luck to SCOM folks on this one.
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VituVingiSana
#34 Posted : Friday, March 26, 2010 9:54:38 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
@MV - I am flattered...

BTW, my WORST investment was in a firm led by a 'local' (as defined by @poundfoolish)...

My best in firms with the majority being expat owners (e.g. EABL, KQ, etc...) not necessarily expat managers...

KQ - Controlled by KLM tho local CEO (Naikuni). Management team is a mix of local + expats.
KPLC - Local all the way but the turnaround started with Manitoba
Williamson - Expat all the way. And I am not complaining.

Others that I have made good money on:
Equity - Solidly local & loving it... JM rox!
BBK - local CEO (adan) but PLC calls the shots
EABL

I have stopped investing in SA run firms...
Pan Africa - I am going to bail. Lousy performance
CFC then CFC Stanbic - Downhill post-merger
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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aemathenge
#35 Posted : Saturday, March 27, 2010 7:23:59 AM
Rank: Elder


Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
Ladies and gentlemen, we have our respective choices of who should hold the position of Managing Director of Safaricom (K) Limited and the criteria to use.

One question I posed is not yet answered, viz who will appoint the managing director, President Kibaki, Prime Minister Odinga, the Board Chairman and the Board, Treasury's Mr. Kinyua, you? who?

What is the documented procedure for appointing or reappointing the managing director?
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Caveman
#36 Posted : Saturday, March 27, 2010 7:33:19 AM
Rank: Member


Joined: 4/15/2009
Posts: 371
@aemathenge: Vodafone UK appoints the CEO.Chances of a local taking the post is slim.
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digitek1
#37 Posted : Saturday, March 27, 2010 9:12:22 AM
Rank: Veteran


Joined: 2/3/2010
Posts: 1,797
Location: Kenya
@radiance..good thinking..seems all telecos are managed by accent heavy expats
@2012-Kenyans make very respected managers esp in diaspora

They can do international recruitment but specify nationality=kenyan.

I may be wrong..but then I could be right
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Ric dees
#38 Posted : Monday, March 29, 2010 8:15:39 AM
Rank: Member


Joined: 3/6/2008
Posts: 632

@aemathenge
True Vodafone calls the shot in appointing the CEO so that clearly gives us an indication where the next CEO might come from..

@VVS
Interesting you point out the dynamics that expats bring in running our publicly listed companies and the success that follows, so what does this tell us? i don't think it's qualifications we beat many of this guys hands down so what is it that we lack???

I think i have the answer to this?

The greatest danger in times of turbulence is not the turbulence; it is to act with yesterday's logic.
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aemathenge
#39 Posted : Monday, March 29, 2010 8:33:42 AM
Rank: Elder


Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya

http://en.wikipedia.org/wiki/Mobitelea_Ventures_Limited According to this site "Today, the shareholder structure of Safaricom is: Government of Kenya 35%; Vodafone 40%; Free Float 25%".

If vodafone has got 40% of Safaricom Ltd, it means that the Government of Kenya requires just 5% support from public investor's representatives on the board to replace or reappoint the Managing Director.

@Caveman et al, among I wrong?
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VituVingiSana
#40 Posted : Monday, March 29, 2010 11:17:17 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
I am OK with MJ as CEO...

So what if GoK has 35%... Kenyan INVESTORS would rather support Vodafone than GoK...

In 2003, kibaki using GoK (23%) tried to put his buddy joe wanjui as chairman at KQ buy KLM (26%)refused...

I was there... KLM trounced kibaki/GoK coz MOST Kenyan investors voted with KLM...!!!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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