6 brokers on the Watchlist according the Business Daily.
Bob Mathews - In trouble once. In trouble again?
Discount Securities - The owners tried to sell it at an inflated price but no-one bit at the time.
Reliable Securities - In the news before. Jos Konzolo was the former NSSF head honcho.
Crossfield - Securities - No idea.
Solid Securities - Now NIC Capital. An operational matter or a problem with the prior owners. NIC Bank has enough money to keep them in business. NIC owns 60% of SS but I expect an 'internal' Rights Issue will increase their stake.
Ngenye Kariuki & Co - A surprise on this list. It has been a 'steady' firm with a large retail base. The owner is a hands-on manager (unlike Nyaga Stockbrokers).
Does any one have more to add on these firms?
And a new broker- Chartered Capital. Info from Bankelele.
I think the value of the 'licenses' will drop from the astronomical figures bid by Old Mutual (KShs 452mn) and Renaissance Capital (KShs 256mn). Rumours have it that there are another 4 new licenses waiting to be issued.
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- Disinvestment in Kenya
- Kenya needs to emulate India's dynamism...
- Why is Kenyan labour costly vs Chinese labour?
- GoK spends & naps while Kenyans suffer...
- A Tale of two(2) SafCon Prospectuses
- Zimbabwean Follies... Worth a laugh!
- Is Africa politically regressing?
- KAA needs to be privatized
- More stockbrokers to bite the dust?
- Coldtusker becomes a TRILLIONAIRE...
- Banks on a roll...
- Back to Basics - Economics, Finance and Wealth Cre...
- Ah, the Kenya we know...
- Zim$ at 123,000,000 per US$
- Zim$ drops faster than a rock!
- KQ's fortunes looking up...
- Safaricom IPO(OFS) gets murky.
- Suicide Jumper
- Kenya - Corruption back on track...
- Zimbabwe Billionaire...
- Bloggers pissed off at bloated cabinet...
- Is Mungiki related to PNU?
- List of Cabinet Ministers + my grades!
- 42 Ministers + prez + pm + 2 deputy pms = too many...
- Again - Apple TV is not GTV
- Kenyans sing the Indian National Anthem
- Coldtusker declared a Billionaire
- Tanzanians screwed by Bank of Tanzania!
- sam ' I can't count' kivuitu at it. Again.
- CMA wants to kill of Venture Capital Funds
- The "not so good" happenings in Kenya...
- Lower those brokerage fees!
- India Grows Up...
- bob ' the murderer' mugabe tries populism again...
- KPLC - Change the law!
- Kenya's economy suffers major hit
- Kenyan politicians killing the Golden Goose...
- New Cabinet Lineup...
- Kenya's New Cabinet is neither Lean nor Clean...
- Another pathetic article from Business Daily
- (Politically) Is Zimbabwe another Kenya?
- Kenyan gov't is senile...
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5 comments:
Even though the NSE is a small bourse, we need as many brokers as possible to ensure that the firms offer competitive services.
Later on when they fully embrace technology, they can merge or let the weak ones close shop.
As for the licences, I'm not sure why they cost that much. I think the record for a 'seat' at the NYSE is $4m (240 m Kshs).
I think some brokers may be worse off after the IPO than before -because it appears that commerical banks processed the lions share of applications, while some brokers had extra costs of new staff, offices, and advertising which they never do anyway
some info, may be outdated
- Ngenye kariuki family owned & run
- Crossfield: Chairman-Nilesh J. Kotedia, J.T Swaley, Kumar Krishna (MD), Herbert Joseph Gore (GM)
- Solid Investments - Now part of NIC was 75% owned by Kithinji Kiragu
- Discount Securities: Chairman- William Murungu, Allan Simu, Executive Director- David Githaiga
It is certainly interesting for me to read that post. Thanx for it. I like such themes and everything connected to this matter. I definitely want to read a bit more soon.
Keep on posting such themes. I like to read stories like this. BTW add some pics :)
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