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Potential merger NIC + CBA
Rank: Chief Joined: 1/3/2007 Posts: 18,371 Location: Nairobi
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Conquestador wrote: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. Tell us. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/7/2012 Posts: 11,937
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VituVingiSana wrote:Conquestador wrote: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. Tell us. Exactly my thoughts when i read the post. Please tell us  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Angelica _ann wrote:VituVingiSana wrote:Conquestador wrote: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. Tell us. Exactly my thoughts when i read the post. Please tell us We are still waiting. Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,371 Location: Nairobi
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NIC, CBA bank merger exempted from paying millions in share sale tax https://www.businessdail...40294-kdd9kiz/index.htmlGreedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/7/2012 Posts: 11,937
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[quote=VituVingiSana]NIC, CBA bank merger exempted from paying millions in share sale tax https://www.businessdail...0294-kdd9kiz/index.html[/quote] The rich & mighty are excepted from paying taxes which they can afford. Ok animal farm!!! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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The article is misleading. Transfers of shares and land in corporate re-organisations have always been exempted from Stamp Duty. It's in the Stamp Duty Act. Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,819 Location: NAIROBI
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MA @Morris_Aron NIC Bank is asking its employees to sign new job contracts ahead of the finalization of the merger. Meanwhile, CBA is not. Are you seeing what I am seeing? Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,819 Location: NAIROBI
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https://pbs.twimg.com/me...mat=jpg&name=360x360Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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NCBA! 
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Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi
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mwekez@ji wrote:NCBA! Sounds like drumming support "Don't let the fear of losing be greater than the excitement of winning."
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