Was Safaricom profitable before Vodafone came in?
[MJ said when he took over Safaricom, it was a mess. MJ was seconded by Vodafone who had control]

The Cartels win. My Kenya Re shares are now reclassified as Available for Sale.

That's my point. All the rest is "window dressing"
[Unless, there's a clear cut case that Mwarania was incompetent or corrupt]

If he was not competent then when did the "Board" figure it out?
Aren't there assessments?
Why not ease him out for "personal reasons" [the impromptu firing causes jitters]?

If corrupt, then it should be for us to see. Or say so in the press release.

I admit to my error of holding KenRe as a core holding.

Safaricom how MJ came into the picture maybe I discuss it in another topic about safaricom.
For now lets stick to kenya re.
FYI MJ was seconded by Vodafone when they acquired a stake in safaricom.

https://citizentv.co.ke/business/kenya-re-terminates-mds-contract-193428/

The Kenya Re Board terminated the contract of its long serving managing director for what it termed as failing to deliver on set goals.

The Monday announcement that Jediah Mwarania had left the firm with immediate effect caught many by surprise as he had served for the past seven years as MD.

According to Kenya Re the decision to terminate Mr Mwarania’s was based on the need to get fresh leadership to steer the reinsurer.

“The board reached its decision following a review of the corporations five year strategic plan and the milestones that the corporation is looking to achieve and in that view made the decision that Mr Mwarania had served his purpose and it’s time for the corporation to have a new mind at the helm,” Kenya Re corporate affairs manager Gladys Some-Mwagi said in a statement to newsrooms.

Mr Mwarania had worked at Kenya Re in different capacities for close to 20 years

Kenya Re board chairman David Kemei said Michael Mbeshi will step in as acting managing director as the board begins the recruitment process for a substantive replacement.

Mr Mbeshi is currently the property and administration general manager.

In February, American rating agency A.M. Best downgraded Kenya Re’s financial strength rating to B (Fair) from B+ (Good).

The agency cited concerns over Kenya Re’s enterprise risk management (ERM) in the face of expected business growth and increasingly sophisticated competition.

Kenya Re posted a Sh1.6 billion half year profit as gross written premiums went up to Sh7.5 billion.

The rating agency was also concerned by the reinsurer’s ability to grow capital resources at the same rate it grows its revenues.

With the exit of Mr Mwarania, Kenya Re said it would be looking to a new MD to grow its business.

“The board came to the decision that the corporation needs leadership that will steer the corporation towards achieving its objectives,” Ms Mwangi said.

Kenya Re is 60 percent owned by the National Treasury and currently has a concession to take up 20 percent of reinsurance business from other insurance firms

I totally agree with your sentiments.
If you have a look at the shareholding structure, you will be shocked that the chairman of the board holds only a small quantity and he is the chair.

All the cement making companies in NSE are not doing well currently:
Bamburi-only depending on standard gauge railway tender.
Arm-broke cause of too much debts
Eapc-debts and mismanagement from Gok

There's a cement and ARM thread, feel free to take the discussion there.

And Admin, you're really slacking these days

Toa masaibu yako hapa ya core holdings.
Stick to the topic of Kenya Re

@ Ebenyo
I've been sharing and even saying my next moves kama hujakuwa ukifuatilia shauri yako.