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Safaricom: time to sell as Michael Joseph to retire at the end of 2010
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Wa_ithaka
#1 Posted : Thursday, March 18, 2010 2:41:19 PM
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Joined: 1/7/2010
Posts: 1,279
Location: nbi
Well, the sticky moment is here. MJ is Safaricom's biggest asset. See you at Ksh3.90.
Link to article.
The Governor of Nyeri - 2017
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guru267
#2 Posted : Thursday, March 18, 2010 2:50:57 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Looks like the time has reached for me to bail out of half of my holdings...

i was just waiting for one more excuse...
Mark 12:29
Deuteronomy 4:16
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anasazi
#3 Posted : Thursday, March 18, 2010 3:02:29 PM
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Kwisha. We should have sold when we had the chance. The slaughter will be too much to bear.
Form is temporary, class is permanent
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Magigi
#4 Posted : Thursday, March 18, 2010 3:07:51 PM
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Joined: 3/31/2008
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Location: Kenya
...You all think like Moi. He thought Kenya will sink without him. MJ will go and Safaricom will be more firm than it is!
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Sarrouniya
#5 Posted : Thursday, March 18, 2010 3:17:39 PM
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Joined: 7/31/2008
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Location: Nirvana
My shareholding is with Ngenye Kariuki.. I want to trade. Nifanyeje?
|The Universe will correspond to the nature of your song ...
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Gatheuzi
#6 Posted : Thursday, March 18, 2010 3:40:30 PM
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...You all think like Moi. He thought Kenya will sink without him. MJ will go and Safaricom will be more firm than it is!

@ Magigi. Kudos! At last somebody has spoken sense. It is obvious that MJ has been instrumental in the growth of Safaricom. However all the company needs is a workable succession plan. If you quit in each company once the CEO is out, you are behaving like a sole proprietor whose dream dies once he is out.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Intelligentsia
#7 Posted : Thursday, March 18, 2010 3:40:53 PM
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Joined: 10/1/2009
Posts: 2,436
Magigi wrote:
...You all think like Moi. He thought Kenya will sink without him. MJ will go and Safaricom will be more firm than it is!


Early post MJ Safaricom jitters?
I guesss its the usual fear of us in the developing world whether an institution can survive the departure of the key personality behind it.
Safaricom has been synonymous with MJ.

Time to evaluate its corporate governance structures and see if key depts/processes/strategy were institutionalized during his tenure. My guess he was a good professional MD and the Co. will survive. The stock may initially fall (buy then).

Ehhhhh, what if Zain's new owners Bhartel pick him for the CEO JOB......!!
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gathinga
#8 Posted : Thursday, March 18, 2010 3:42:25 PM
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Joined: 11/30/2006
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OMG. Why did he choose to release the info to Reuters and not local media. This is the same trend with the investors information dubbed road show done recently. Safcom management consider themselves as accountable to foreign investors and not us!!
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Wa_ithaka
#9 Posted : Thursday, March 18, 2010 3:51:40 PM
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Location: nbi
Ma-gathe-gi u both didn't just compare MJ to Moi! Hakuna. MJ has built a phenomena where moi misrurend for 24yrs
The Governor of Nyeri - 2017
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ecstacy
#10 Posted : Thursday, March 18, 2010 4:33:51 PM
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Joined: 2/26/2008
Posts: 4,449
He had reached his peak...anyho either way interesting days ahead if he chooses to renew his contract or bounce...
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2012
#11 Posted : Thursday, March 18, 2010 4:44:55 PM
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Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Life goes on... I'm sure they'll recruit someone much better than MJ. That at least I'm sure is what MJ would want. When an individual becomes bigger than the company eg Steve Jobs then there's a problem.

BBI will solve it :)
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Drew
#12 Posted : Thursday, March 18, 2010 5:31:21 PM
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Joined: 1/13/2009
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Apple is steve jobs, safaricom is Michael Joseph. I've alwayz hated the fact that safaricom hasn't gone cross borders maybe we wil get the person to take it there.
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mzazii
#13 Posted : Thursday, March 18, 2010 5:41:17 PM
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Joined: 12/2/2009
Posts: 82
Location: kenya
This is good news, at last we may get a replacement who will find a permanent solution to the perennial network congestion on Friday afternoon.

One other thing, i don't see MJ leaving Kenya even on retirement - Kenya is such a beatifull country ( if you have good money!! ).
Opportunity may knock once, but temptation bangs on the front door forever..
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mukiha
#14 Posted : Friday, March 19, 2010 8:21:22 AM
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Joined: 6/27/2008
Posts: 4,114
One should never stay in a leadership position for too long.

When you do, soon enough everyone starts believing that you are the only one who can do the job [as happened to Kenyatta]

And soon after that you also start believing that you are the only one who can do it [as happened to Moi - God called Kenyatta before reaching this stage].

It is good for both MJ and SCOM for MJ to retire

It would also be good for both EQT and JM for JM to retire
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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2012
#15 Posted : Friday, March 19, 2010 8:32:53 AM
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Joined: 12/9/2009
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Location: Nairobi
mukiha wrote:

It is good for both MJ and SCOM for MJ to retire


Well said. Naikuni... hata wewe.

BBI will solve it :)
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VituVingiSana
#16 Posted : Friday, March 19, 2010 9:11:46 AM
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Joined: 1/3/2007
Posts: 18,118
Location: Nairobi
@magigi @gatheuzi - MJ unlike moi (to the best of my knowledge) never claimed he was irreplaceable.

As said earlier by @waithaka, MJ built something for the future... moi stole/destroyed Kenya's future for 24 years...

I will be sad to see MJ leave though it has to happen... he took over a moribund safaricom (when it was sorta under telkom) & changed it into a behemoth...

I was ecstatic when moi had to leave... I will shed no tears (except of joy) when he passes on...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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guru267
#17 Posted : Friday, March 19, 2010 9:22:41 AM
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Joined: 1/21/2010
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Location: Nairobi
these guys better have a super replacement for MJ because a company this big falling into the wrong hands could spell MEGA DISASTER!!

Though that said MJ is leaving at more or less the right time since most of safcoms expansion plans are/almost implemented.. his successor should have smooth sailing...
Mark 12:29
Deuteronomy 4:16
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wote
#18 Posted : Friday, March 19, 2010 9:28:03 AM
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Joined: 10/18/2007
Posts: 217
VVS, i couldn't have said it better than you have. IT breaks my heart that the Government still continues to reward Moi 2 million shillings every month after he stole so much from our poor tax payers.
It further sickess me that he is being given air time to open his thieving mouth to comment on the affairs of our great Nation which he sought so much to destroy.
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muganda
#19 Posted : Friday, March 19, 2010 10:35:13 AM
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Joined: 9/15/2006
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Remember once reading somewhere that 'CEO effects' contribute as much as 15% to company performance.
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the sage
#20 Posted : Friday, March 19, 2010 11:21:12 AM
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Joined: 11/20/2008
Posts: 367
@All, they'll probably higher some CEO who will lay off guys,freeze salaries and scrap bonuses as part of a "corporate strategy."
Pathetic.
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