Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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  Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Final Div. Kshs. 0.35Payable 18 May 2018 Closure 27 April 2018 BONUS 1:10Issued 31 May 2018 Closure 27 April 2018 Pesa Nane plans to be shilingi when he grows up.
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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I never understand this obsession of bonuses in Kenya. This firms earnings are being battered yet, its price shoots 11% in one session because of a bonus 🤦🏽♂️
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Why was I expecting a loss? Not impressive tho, the housing market is struggling "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 12/4/2009 Posts: 10,696 Location: NAIROBI
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Horton wrote:I never understand this obsession of bonuses in Kenya. This firms earnings are being battered yet, its price shoots 11% in one session because of a bonus 🤦🏽♂️ The bonus shares is more than the amount of dividends Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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murchr wrote:Why was I expecting a loss? Not impressive tho, the housing market is struggling Always refer to the exchange bar prior to making assumptions 😁😁
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,696 Location: NAIROBI
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https://www.bloomberg.co...&utm_content=africa
Kenya’s oldest stand-alone mortgage provider plans to offload its entire home-loans book only to build it up again. HF Group Ltd. expects to benefit from the government’s push to construct 500,000 affordable homes over the next five years to try narrow a shortfall at least five times that size. The government is creating Kenya Mortgage Refinance Co., which will provide funding to lenders, and allow companies like HF Group to sell existing loans to the new entity to free up capital, Chief Executive Officer Sam Waweru said. “We can release, off the top of my head, about 50 billion shillings ($498 million) from our own book,” Waweru said in an interview in the capital, Nairobi. “That would mean we can lend another 50 billion shillings to the economy immediately. We’ll bundle together the mortgages we have written over the years.” HF Group plans to provide housing loans of as low as 2.5 million shillings for about 200 new housing units over the next year, Waweru said. President Uhuru Kenyatta’s administration has made low-income housing one of its four top priorities after winning a second term last year by offering tax relief and stamp-duty exemptions for first-time buyers. It may also breathe new life into the sector after interest-rate caps introduced in August 2016 caused lending to slow. Slowing Market The size of the market is also relatively small, weighed down by property prices beyond what most Kenyans can afford, high lending rates, difficulties with registration and undeveloped loan-underwriting procedures, Cytonn Investments Management Ltd. said in a report in April. The number of Kenyan mortgages declined 1.5 percent in 2016 to 24,085 even as the value increased by 8.1 percent to 220 billion shillings, as property prices rose, the Nairobi-based money manager said. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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Ericsson wrote:https://www.bloomberg.com/news/articles/2018-07-26/kenya-s-oldest-mortgage-lender-wants-to-jettison-its-entire-book?utm_source=twitter&utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-africa&utm_medium=social&utm_content=africa
Kenya’s oldest stand-alone mortgage provider plans to offload its entire home-loans book only to build it up again.
HF Group Ltd. expects to benefit from the government’s push to construct 500,000 affordable homes over the next five years to try narrow a shortfall at least five times that size. The government is creating Kenya Mortgage Refinance Co., which will provide funding to lenders, and allow companies like HF Group to sell existing loans to the new entity to free up capital, Chief Executive Officer Sam Waweru said.
“We can release, off the top of my head, about 50 billion shillings ($498 million) from our own book,” Waweru said in an interview in the capital, Nairobi. “That would mean we can lend another 50 billion shillings to the economy immediately. We’ll bundle together the mortgages we have written over the years.”
HF Group plans to provide housing loans of as low as 2.5 million shillings for about 200 new housing units over the next year, Waweru said.
President Uhuru Kenyatta’s administration has made low-income housing one of its four top priorities after winning a second term last year by offering tax relief and stamp-duty exemptions for first-time buyers. It may also breathe new life into the sector after interest-rate caps introduced in August 2016 caused lending to slow.
Slowing Market
The size of the market is also relatively small, weighed down by property prices beyond what most Kenyans can afford, high lending rates, difficulties with registration and undeveloped loan-underwriting procedures, Cytonn Investments Management Ltd. said in a report in April. The number of Kenyan mortgages declined 1.5 percent in 2016 to 24,085 even as the value increased by 8.1 percent to 220 billion shillings, as property prices rose, the Nairobi-based money manager said.
All the best to them.. Will need to see the H1 before any further comments
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 3/10/2009 Posts: 36
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obiero wrote:Ericsson wrote:https://www.bloomberg.com/news/articles/2018-07-26/kenya-s-oldest-mortgage-lender-wants-to-jettison-its-entire-book?utm_source=twitter&utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-africa&utm_medium=social&utm_content=africa
Kenya’s oldest stand-alone mortgage provider plans to offload its entire home-loans book only to build it up again.
HF Group Ltd. expects to benefit from the government’s push to construct 500,000 affordable homes over the next five years to try narrow a shortfall at least five times that size. The government is creating Kenya Mortgage Refinance Co., which will provide funding to lenders, and allow companies like HF Group to sell existing loans to the new entity to free up capital, Chief Executive Officer Sam Waweru said.
“We can release, off the top of my head, about 50 billion shillings ($498 million) from our own book,” Waweru said in an interview in the capital, Nairobi. “That would mean we can lend another 50 billion shillings to the economy immediately. We’ll bundle together the mortgages we have written over the years.”
HF Group plans to provide housing loans of as low as 2.5 million shillings for about 200 new housing units over the next year, Waweru said.
President Uhuru Kenyatta’s administration has made low-income housing one of its four top priorities after winning a second term last year by offering tax relief and stamp-duty exemptions for first-time buyers. It may also breathe new life into the sector after interest-rate caps introduced in August 2016 caused lending to slow.
Slowing Market
The size of the market is also relatively small, weighed down by property prices beyond what most Kenyans can afford, high lending rates, difficulties with registration and undeveloped loan-underwriting procedures, Cytonn Investments Management Ltd. said in a report in April. The number of Kenyan mortgages declined 1.5 percent in 2016 to 24,085 even as the value increased by 8.1 percent to 220 billion shillings, as property prices rose, the Nairobi-based money manager said.
All the best to them.. Will need to see the H1 before any further comments HF is preparing the market for dismissal performance H1. Those who are still in this bus fasten the seat belts.
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Rank: Elder Joined: 12/4/2009 Posts: 10,696 Location: NAIROBI
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https://www.businessdail...1886-i3i8vxz/index.html
HF Group is set to lay off about 36 employees in a cost-cutting move that will see it merge some staff positions. The mortgage lender reported a 58 per cent drop in profits to Sh37.1 million in the first three months of the year. It said Tuesday that the restructuring would result in merger, redundancy and creation of new roles for its recently launched digital banking strategy. The move, the bank announced, commences immediately and targets up to nine per cent of the workforce, with those affected being offered a redundancy package. It had 403 employees at the close of December last year, indicating that the redundancy will affect about 36 employees. In 2016, the group’s workforce was 479. The latest exit will therefore mean that staff size has shrunk by about 112 employees in less than two years. Operational costs Group managing director Frank Ireri said the latest layoffs will enable customer-focused decision-making, provide clarity on operational accountabilities and curb operational costs. “By rationalising roles, we are providing the appropriate gearing towards future growth and addressing current issues such as operating costs for the business, which have remained high and hindered our ability to operate profitably,” said Mr Ireri who is set to leave HF in March next year. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Ericsson wrote:https://www.businessdailyafrica.com/corporate/companies/HF-set-to-lay-off-36-employees-in-cost-cutting-plan/4003102-4691886-i3i8vxz/index.html
HF Group is set to lay off about 36 employees in a cost-cutting move that will see it merge some staff positions.
The mortgage lender reported a 58 per cent drop in profits to Sh37.1 million in the first three months of the year.
It said Tuesday that the restructuring would result in merger, redundancy and creation of new roles for its recently launched digital banking strategy.
The move, the bank announced, commences immediately and targets up to nine per cent of the workforce, with those affected being offered a redundancy package.
It had 403 employees at the close of December last year, indicating that the redundancy will affect about 36 employees.
In 2016, the group’s workforce was 479. The latest exit will therefore mean that staff size has shrunk by about 112 employees in less than two years.
Operational costs
Group managing director Frank Ireri said the latest layoffs will enable customer-focused decision-making, provide clarity on operational accountabilities and curb operational costs.
“By rationalising roles, we are providing the appropriate gearing towards future growth and addressing current issues such as operating costs for the business, which have remained high and hindered our ability to operate profitably,” said Mr Ireri who is set to leave HF in March next year. I wonder why someone like ireri who has steered this company to doom is still sacking people and not himself "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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mlennyma wrote:Ericsson wrote:https://www.businessdailyafrica.com/corporate/companies/HF-set-to-lay-off-36-employees-in-cost-cutting-plan/4003102-4691886-i3i8vxz/index.html
HF Group is set to lay off about 36 employees in a cost-cutting move that will see it merge some staff positions.
The mortgage lender reported a 58 per cent drop in profits to Sh37.1 million in the first three months of the year.
It said Tuesday that the restructuring would result in merger, redundancy and creation of new roles for its recently launched digital banking strategy.
The move, the bank announced, commences immediately and targets up to nine per cent of the workforce, with those affected being offered a redundancy package.
It had 403 employees at the close of December last year, indicating that the redundancy will affect about 36 employees.
In 2016, the group’s workforce was 479. The latest exit will therefore mean that staff size has shrunk by about 112 employees in less than two years.
Operational costs
Group managing director Frank Ireri said the latest layoffs will enable customer-focused decision-making, provide clarity on operational accountabilities and curb operational costs.
“By rationalising roles, we are providing the appropriate gearing towards future growth and addressing current issues such as operating costs for the business, which have remained high and hindered our ability to operate profitably,” said Mr Ireri who is set to leave HF in March next year. I wonder why someone like ireri who has steered this company to doom is still sacking people and not himself ."reoganization costs, retrenchment costs blah blah blah ate into our profits" .Hide trails .Soft landing to incompetent cronies .Disorient would be whistle blowers post Frank githeri's exit Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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Pesa Nane wrote:mlennyma wrote:Ericsson wrote:https://www.businessdailyafrica.com/corporate/companies/HF-set-to-lay-off-36-employees-in-cost-cutting-plan/4003102-4691886-i3i8vxz/index.html
HF Group is set to lay off about 36 employees in a cost-cutting move that will see it merge some staff positions.
The mortgage lender reported a 58 per cent drop in profits to Sh37.1 million in the first three months of the year.
It said Tuesday that the restructuring would result in merger, redundancy and creation of new roles for its recently launched digital banking strategy.
The move, the bank announced, commences immediately and targets up to nine per cent of the workforce, with those affected being offered a redundancy package.
It had 403 employees at the close of December last year, indicating that the redundancy will affect about 36 employees.
In 2016, the group’s workforce was 479. The latest exit will therefore mean that staff size has shrunk by about 112 employees in less than two years.
Operational costs
Group managing director Frank Ireri said the latest layoffs will enable customer-focused decision-making, provide clarity on operational accountabilities and curb operational costs.
“By rationalising roles, we are providing the appropriate gearing towards future growth and addressing current issues such as operating costs for the business, which have remained high and hindered our ability to operate profitably,” said Mr Ireri who is set to leave HF in March next year. I wonder why someone like ireri who has steered this company to doom is still sacking people and not himself ."reoganization costs, retrenchment costs blah blah blah ate into our profits" .Hide trails .Soft landing to incompetent cronies .Disorient would be whistle blowers post Frank githeri's exit A sad ending to the affected employees
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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mlennyma wrote:Ericsson wrote:https://www.businessdailyafrica.com/corporate/companies/HF-set-to-lay-off-36-employees-in-cost-cutting-plan/4003102-4691886-i3i8vxz/index.html
HF Group is set to lay off about 36 employees in a cost-cutting move that will see it merge some staff positions.
The mortgage lender reported a 58 per cent drop in profits to Sh37.1 million in the first three months of the year.
It said Tuesday that the restructuring would result in merger, redundancy and creation of new roles for its recently launched digital banking strategy.
The move, the bank announced, commences immediately and targets up to nine per cent of the workforce, with those affected being offered a redundancy package.
It had 403 employees at the close of December last year, indicating that the redundancy will affect about 36 employees.
In 2016, the group’s workforce was 479. The latest exit will therefore mean that staff size has shrunk by about 112 employees in less than two years.
Operational costs
Group managing director Frank Ireri said the latest layoffs will enable customer-focused decision-making, provide clarity on operational accountabilities and curb operational costs.
“By rationalising roles, we are providing the appropriate gearing towards future growth and addressing current issues such as operating costs for the business, which have remained high and hindered our ability to operate profitably,” said Mr Ireri who is set to leave HF in March next year. I wonder why someone like ireri who has steered this company to doom is still sacking people and not himself Where was HF before Ireri took over? It was just being eaten by KANU thugs. No new project since Komarock and Buruburu in the 70s and 80s. Ireri brought it back from the dead. Life is short. Live passionately.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,590
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sparkly wrote:
Where was HF before Ireri took over? It was just being eaten by KANU thugs. No new project since Komarock and Buruburu in the 70s and 80s. Ireri brought it back from the dead.
Ireri was like Naikuni took the shareholders on a round-trip and brought them back to the station. HF has this thing of risking its capital getting to the market during the late stage of the real estate cycle. Buru and Koma are examples of this. After that the recession begins and HF goes after borrowers aggressively. Ireri repeated the same sin becoming a property developer in Koma, clayworks, kahawa downs etc.in the late stage.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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wukan wrote:sparkly wrote:
Where was HF before Ireri took over? It was just being eaten by KANU thugs. No new project since Komarock and Buruburu in the 70s and 80s. Ireri brought it back from the dead.
Ireri was like Naikuni took the shareholders on a round-trip and brought them back to the station. HF has this thing of risking its capital getting to the market during the late stage of the real estate cycle. Buru and Koma are examples of this. After that the recession begins and HF goes after borrowers aggressively. Ireri repeated the same sin becoming a property developer in Koma, clayworks, kahawa downs etc.in the late stage. Naikuni took over a healthy KQ and killed it. Ireri took a dead company and breathed life into it. Life is short. Live passionately.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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sparkly wrote:wukan wrote:sparkly wrote:
Where was HF before Ireri took over? It was just being eaten by KANU thugs. No new project since Komarock and Buruburu in the 70s and 80s. Ireri brought it back from the dead.
Ireri was like Naikuni took the shareholders on a round-trip and brought them back to the station. HF has this thing of risking its capital getting to the market during the late stage of the real estate cycle. Buru and Koma are examples of this. After that the recession begins and HF goes after borrowers aggressively. Ireri repeated the same sin becoming a property developer in Koma, clayworks, kahawa downs etc.in the late stage. Naikuni took over a healthy KQ and killed it. Ireri took a dead company and breathed life into it. And then killed it. Different routes, same outcome!!! 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: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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sparkly wrote:wukan wrote:sparkly wrote:
Where was HF before Ireri took over? It was just being eaten by KANU thugs. No new project since Komarock and Buruburu in the 70s and 80s. Ireri brought it back from the dead.
Ireri was like Naikuni took the shareholders on a round-trip and brought them back to the station. HF has this thing of risking its capital getting to the market during the late stage of the real estate cycle. Buru and Koma are examples of this. After that the recession begins and HF goes after borrowers aggressively. Ireri repeated the same sin becoming a property developer in Koma, clayworks, kahawa downs etc.in the late stage. Naikuni took over a healthy KQ and killed it. Ireri took a dead company and breathed life into it. The end result is almost the same though HF is far more livelier than KQ. Plus HF is in a tough market when your lending is long-term but the duration of deposits is short-term AND volatile. 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: 10,696 Location: NAIROBI
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VituVingiSana wrote:sparkly wrote:wukan wrote:sparkly wrote:
Where was HF before Ireri took over? It was just being eaten by KANU thugs. No new project since Komarock and Buruburu in the 70s and 80s. Ireri brought it back from the dead.
Ireri was like Naikuni took the shareholders on a round-trip and brought them back to the station. HF has this thing of risking its capital getting to the market during the late stage of the real estate cycle. Buru and Koma are examples of this. After that the recession begins and HF goes after borrowers aggressively. Ireri repeated the same sin becoming a property developer in Koma, clayworks, kahawa downs etc.in the late stage. Naikuni took over a healthy KQ and killed it. Ireri took a dead company and breathed life into it. The end result is almost the same though HF is far more livelier than KQ. Plus HF is in a tough market when your lending is long-term but the duration of deposits is short-term AND volatile. End game is he killed it Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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Ericsson wrote:VituVingiSana wrote:sparkly wrote:wukan wrote:sparkly wrote:
Where was HF before Ireri took over? It was just being eaten by KANU thugs. No new project since Komarock and Buruburu in the 70s and 80s. Ireri brought it back from the dead.
Ireri was like Naikuni took the shareholders on a round-trip and brought them back to the station. HF has this thing of risking its capital getting to the market during the late stage of the real estate cycle. Buru and Koma are examples of this. After that the recession begins and HF goes after borrowers aggressively. Ireri repeated the same sin becoming a property developer in Koma, clayworks, kahawa downs etc.in the late stage. Naikuni took over a healthy KQ and killed it. Ireri took a dead company and breathed life into it. The end result is almost the same though HF is far more livelier than KQ. Plus HF is in a tough market when your lending is long-term but the duration of deposits is short-term AND volatile. End game is he killed it He surely did..
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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