GoK holds 17% of KCB shares. Deposits in KCB (by my estimates) held by GoK compose over 60% of the book! You simply cannot bite the hand that feeds you.. I may be wrong, but I think I am right

What’s the reputational risk to KCB in asking KQ for collateral? And what’s the reputational risk if KCB sold Pride Center at a fair price to recover a debt KQ couldn’t pay?

The debt kq owes kcb will be repaid in one way or another irrespective of who is in power.
The debts are covenants guaranteed by GoK.

Interim dividend will be there in Half year results

https://kenyanwallstreet.com/two-submit-petition-to-senate-over-restriction-of-govt-institutions-bank-accounts-to-kcb/

Two petitioners, Sammy Muriuki and Wanja Maina want counties, state bodies, and ministries to be allowed to hold accounts with other banks besides Kenya Commercial Bank (KCB).

The petitioners also want the government to invite banks for tender pre-qualification in accordance with the Procurement and Public Disposal Act.

These are some of the recommendations the petitioners have presented to the Senate.
An Unfair Practice

The petitioners said the restriction for government bodies to bank with KCB has negatively affected counties through a monopolistic rule. They argued that KCB is not a State bank, therefore, it should not be preferred over other banks. According to them, the practice has been against a free and competitive market.

“We have made the best efforts to have these matters addressed by the relevant authorities all of which have failed to give a satisfactory response and none of the issues we have raised are pending in any court of law, Constitutional, or legal body,” said the petitioners in the petition signed July 6.

Muriuki and Wanja are also of the opinion that KCB’s outlets are not as widespread as those of other banks thereby prohibiting access to financial services by these government institutions.

In their argument, the two petitioners are appalled by the fact that the policy does not apply to other State banks such as National and Consolidated Banks.

The petitioners now want other banks such as Equity, Co-op, and Family to be allowed to compete with KCB for deposits. In their opinion, it is unreasonable to give the Treasury’s Cabinet Secretary and Principal Secretary the power to choose where government institutions can bank.

“KCB has unduly grown on the back of these Government deposits, with the State budget growing to almost Sh2 trillion, these deposits unduly favour KCB,” they asserted.

“All parties will be invited to give their views before the Senate makes recommendations or even devises rules to cure the anomaly if any,” explained Senate deputy whip Irungu Kangata adding that the examination of the petition will be impartial.

Simba is a pampered Prince

Lessons from Big Brother at National Treasury!

Monster volume in the last session

That kind of volume in the current state of affairs could only indicate one large buyer against many sellers.. It could well have more downward pressure

High resistence at 41.00 it seems we will not see below 40 anytime soon especially with quater four results due.