gathinga wrote:James mwangi is a rough personality and has ignited several uncalled for fights in his tenure.
1. After the Safaricom IPO, Equity refused the Kshs. 1000/- per applicant due to CDSC for shares purchased on loan. His argument was that the shares were not themselves the collateral. Looking at it, this argument was an afterthought, as the application forms were explicit. For this trouble, EB custodial was stopped from trading for one day. The row was finally resolved, don't know how.
2. Anyone familiar with the ongoing headcount downsizing at EB will tell you that its not done in the most professional manner. Staff identified aren't even being paid redundancy. If I have worked for you 5 years, during which you promoted me three time, how do you wake up one day, declare me incompetent and send me home empty handed. I love the way KCB is doing it. Asking for voluntary retirement and paying them off.
3. Mwangi has picked up a row with NBK and Privatization commission on the other hand for injuring the privatization of NBK by issuing comments implying that EB has already bought off NBK.
For his rough edges, JM loses to MJ as greatest CEO
Whoa! IMHO... JM was RIGHT...
1) If Equity Bank chooses NOT to collateralize the shares through CDSC... So What? Shauri Yao... The 1,000/- fee is punitive! A guy who borrows 10,000/- should not be forced to pay 10% (btw to remove it is another 1,000/-)
2) I can't say but JM can't be involved in every decision! Kwani MJ was checking to see if there is congestion in every base station?
As an investor... I am happy with JM... KCB, pole not so much! The Rights at 25/- are worth 18/- after all these years! Same money in Equity Bank would be up 2x
3) LOL... So what? If EB is interested in NBK, well make the playing field better for EB... Kwani, I pay JM to make NBK look better for others???
This is BIASHARA... If you can't stand the heat... QUIT...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett