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Potential merger NIC + CBA
Rank: Member Joined: 8/17/2010 Posts: 110 Location: Nairobi
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There is a big hidden story in that notice.
So, Awuondo becomes Kenya chairman and also 'heads' the digital business - mshwari and its spin-offs.
Meaning, Gachora reports to Awuondo in Kenya, and someone from digital business also reports to Awuondo.
Question: is digital business part of to-be-rebranded NIC Group or not?
If yes, its not clear from this notice.
If no, then NIC shareholders have been denied the golden goose.
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Rank: Chief Joined: 1/3/2007 Posts: 18,371 Location: Nairobi
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Conquestador wrote:There is a big hidden story in that notice.
So, Awuondo becomes Kenya chairman and also 'heads' the digital business - mshwari and its spin-offs.
Meaning, Gachora reports to Awuondo in Kenya, and someone from digital business also reports to Awuondo.
Question: is digital business part of to-be-rebranded NIC Group or not?
If yes, its not clear from this notice.
If no, then NIC shareholders have been denied the golden goose.
Is CBA still buying Jamii Bora? Wasn't there a rumor that JB would house the "digital" spin-off of CBA? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Conquestador wrote:There is a big hidden story in that notice.
So, Awuondo becomes Kenya chairman and also 'heads' the digital business - mshwari and its spin-offs.
Meaning, Gachora reports to Awuondo in Kenya, and someone from digital business also reports to Awuondo.
Question: is digital business part of to-be-rebranded NIC Group or not?
If yes, its not clear from this notice.
If no, then NIC shareholders have been denied the golden goose.
Gachora is the overall boss of the combined entity. Awoundo demoted from regional leadership. Awuondo is 62, Gachora 51. In corporate lingo, Awuodo is being given a soft landing, to be retired from active management very soon. Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,371 Location: Nairobi
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sparkly wrote:Conquestador wrote:There is a big hidden story in that notice.
So, Awuondo becomes Kenya chairman and also 'heads' the digital business - mshwari and its spin-offs.
Meaning, Gachora reports to Awuondo in Kenya, and someone from digital business also reports to Awuondo.
Question: is digital business part of to-be-rebranded NIC Group or not?
If yes, its not clear from this notice.
If no, then NIC shareholders have been denied the golden goose.
Gachora is the overall boss of the combined entity. Awoundo demoted from regional leadership. Awuondo is 62, Gachora 51. In corporate lingo, Awuodo is being given a soft landing, to be retired from active management very soon. Not much positive growth happened under Gachora since he became the CEO. In the end, the Ndegwas sold out. What will change? Or this is a temporary posting until things settle down? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,819 Location: NAIROBI
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VituVingiSana wrote:sparkly wrote:Conquestador wrote:There is a big hidden story in that notice.
So, Awuondo becomes Kenya chairman and also 'heads' the digital business - mshwari and its spin-offs.
Meaning, Gachora reports to Awuondo in Kenya, and someone from digital business also reports to Awuondo.
Question: is digital business part of to-be-rebranded NIC Group or not?
If yes, its not clear from this notice.
If no, then NIC shareholders have been denied the golden goose.
Gachora is the overall boss of the combined entity. Awoundo demoted from regional leadership. Awuondo is 62, Gachora 51. In corporate lingo, Awuodo is being given a soft landing, to be retired from active management very soon. Not much positive growth happened under Gachora since he became the CEO. In the end, the Ndegwas sold out. What will change? Or this is a temporary posting until things settle down? Positive growth didn't occur because of the two boys. The business segment that NIC targets has been heavily affected by the economic decisions of the two. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,371 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:sparkly wrote:Conquestador wrote:There is a big hidden story in that notice.
So, Awuondo becomes Kenya chairman and also 'heads' the digital business - mshwari and its spin-offs.
Meaning, Gachora reports to Awuondo in Kenya, and someone from digital business also reports to Awuondo.
Question: is digital business part of to-be-rebranded NIC Group or not?
If yes, its not clear from this notice.
If no, then NIC shareholders have been denied the golden goose.
Gachora is the overall boss of the combined entity. Awoundo demoted from regional leadership. Awuondo is 62, Gachora 51. In corporate lingo, Awuodo is being given a soft landing, to be retired from active management very soon. Not much positive growth happened under Gachora since he became the CEO. In the end, the Ndegwas sold out. What will change? Or this is a temporary posting until things settle down? Positive growth didn't occur because of the two boys. The business segment that NIC targets has been heavily affected by the economic decisions of the two. Prime, I&M, DTB play in a similar league and have seen growth (vs NIC) since Gachora became the CEO. The info for listed I&M and DTB - which have grown their balance sheet and profits - is available. I think I&M and DTB makes 2x PAT compared to NIC and yet just a few years ago they had similar PAT. When did Gachora join? I think DTB has had a small Rights Issues since 2010. I don't think I&M has had any Rights Issues since it listed. NIC has had Rights Issues. As a shareholder in NIC, I think the performance of the bank has lagged. I hope the merger gives renewed impetus to growth. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,371 Location: Nairobi
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NIC staff count up by 203 on new branches https://www.businessdail...1904-13y3e85/index.html
All the extra staff may be a drag going into the merger. Re-training costs, golden handshakes, closed branches, etc Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 8/17/2010 Posts: 110 Location: Nairobi
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sparkly wrote:Conquestador wrote:There is a big hidden story in that notice.
So, Awuondo becomes Kenya chairman and also 'heads' the digital business - mshwari and its spin-offs.
Meaning, Gachora reports to Awuondo in Kenya, and someone from digital business also reports to Awuondo.
Question: is digital business part of to-be-rebranded NIC Group or not?
If yes, its not clear from this notice.
If no, then NIC shareholders have been denied the golden goose.
Gachora is the overall boss of the combined entity. Awoundo demoted from regional leadership. Awuondo is 62, Gachora 51. In corporate lingo, Awuodo is being given a soft landing, to be retired from active management very soon. In corporate lingo, CEOs, group or otherwise, report to the Board. His chair in Kenya is Awuondo. 62 is the new 30. Unless you have no idea as to whom we are contending with here.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Conquestador wrote:sparkly wrote:Conquestador wrote:There is a big hidden story in that notice.
So, Awuondo becomes Kenya chairman and also 'heads' the digital business - mshwari and its spin-offs.
Meaning, Gachora reports to Awuondo in Kenya, and someone from digital business also reports to Awuondo.
Question: is digital business part of to-be-rebranded NIC Group or not?
If yes, its not clear from this notice.
If no, then NIC shareholders have been denied the golden goose.
Gachora is the overall boss of the combined entity. Awoundo demoted from regional leadership. Awuondo is 62, Gachora 51. In corporate lingo, Awuodo is being given a soft landing, to be retired from active management very soon. In corporate lingo, CEOs, group or otherwise, report to the Board. His chair in Kenya is Awuondo. 62 is the new 30. Unless you have no idea as to whom we are contending with here. Every company in a group has a Board, CEO is part of the Board, Chairman role in a Board is non-executive. A person can be executive in one company and non-executive in another. What am I missing? Life is short. Live passionately.
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Rank: Member Joined: 8/17/2010 Posts: 110 Location: Nairobi
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sparkly wrote:Conquestador wrote:sparkly wrote:Conquestador wrote:There is a big hidden story in that notice.
So, Awuondo becomes Kenya chairman and also 'heads' the digital business - mshwari and its spin-offs.
Meaning, Gachora reports to Awuondo in Kenya, and someone from digital business also reports to Awuondo.
Question: is digital business part of to-be-rebranded NIC Group or not?
If yes, its not clear from this notice.
If no, then NIC shareholders have been denied the golden goose.
Gachora is the overall boss of the combined entity. Awoundo demoted from regional leadership. Awuondo is 62, Gachora 51. In corporate lingo, Awuodo is being given a soft landing, to be retired from active management very soon. In corporate lingo, CEOs, group or otherwise, report to the Board. His chair in Kenya is Awuondo. 62 is the new 30. Unless you have no idea as to whom we are contending with here. Every company in a group has a Board, CEO is part of the Board, Chairman role in a Board is non-executive. A person can be executive in one company and non-executive in another. What am I missing? Kenya company holds significant sway in the group. Chairman and Board of bank entities have not only official oversight responsibilities but also, in many cases are deeply involved in operational minutiae in risk management and fiduciary relationships that a bank enters due to regulatory aspects. John will need to swirl above the usual board hubris very fast. The question now is what becomes of the m-shwari company. Those who know the import of this question, knows.
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Potential merger NIC + CBA
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