Well, hats off to Martin Oduor-Otieno who now has shares in KCB.
Adan Mohamed also bought some shares in BBK.
It is not clear if these shares have been purchased directly or via an ESOP.
Mr Mohammed bought 296, 000 currently worth Sh4 million while Mr Oduor-Otieno acquired 509,180 shares now valued at Sh12 million —making them top shareholders among the lenders’ directors and executives and an entry on the investor registry.
Readers may recall my disgust at the actions of the Board of Directors of Kenya Airways who shamelessly approved a Rights Issue at KES 14 when the NAV of each KQ share was 50/- (per the latest audited Financial Statements).
I compared the performance of firms like Equity Bank, Athi River Mining, ScanGroup and KenolKobil whose CEOs have a significant interest/shareholding in the firms they run versus Kenya Airways in which the CEO has ZERO shares!
Pradeep Paunrana of Athi River Mining announced the issuance of a Convertible Debt instrument that would help ARM grow WITHOUT destroying value for existing shareholders. That's the type of CEO a firm needs. One who cares about shareholders, not just his salary, bonuses, perks & benefits but feels no pain when shareholder lose.
I would encourage that MOO prudently buys more shares in KCB throughout the year which will give other shareholders faith that they sink or swim together. I would like to point out that Sunil Narshi Shah (a former, now retired, director) owned 5% of KCB at one point. He would keep an eye on the happenings in KCB since his 'wealth' was directly affected by the going on at the top.
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