THE ‘PRIDE OF AFRICA’ IS FAST LOSING GROUND by Aly-Khan Satchu

Is KQ on its last wings?

http://www.rich.co.ke/media/docs/038NSX1304.pdf by @AlyKhanSatchu

My blogposts

http://coldtusker.blogspot.com/2012/04/kenya-airways-rip-off.html

http://coldtusker.blogspot.com/2012/04/kq-rights-issue-2012.html

http://coldtusker.blogspot.com/2012/04/kenya-airways-commissions-payment-scam.html

http://coldtusker.blogspot.com/2012/04/govt-of-kenya-to-pay-commission-for-kq.html

http://coldtusker.blogspot.com/2015/01/kq-losses-losses-and-more-losses.html

By the inimitable & brilliant @iGaddo http://gadocartoons.com/wp-content/uploads/2014/11/Gado-18-11.jpg

and http://gadocartoons.com/wp-content/uploads/2013/06/KQ.jpg

Ngunze was handed a lemon by Naikuni. Interesting to note that Naikuni 'resigned' one month before the AGM and announcement of the largest loss ever by a company in Kenya.

Now waiting for an answer/comment from @ay1m - which I will post on here!

Largest Britam EA shareholder's associate (Bramer Bank) in huge trouble with Mauritian Central Bank

A major shareholder [British-American (Kenya) Holdings] in Britam EA associated with Dawood Rawat, a director of Britam EA, is in big trouble. 3 directors in Britam EA are associated with Bramer Bank of Mauritius.

Britam Kenya Holdings, a subsidiary of Britam Mauritius, is a major shareholder in Britam EA (listed on the NSE). So Britam EA is not directly affected by the mess but there may be counter-party exposure.

Bremer Bank, associated with Britam Mauritius through the Rawat Family, has been accused of running a Ponzi scheme by the Mauritius Central Bank. 

Mr. Moussa Rawat is also Chairman of Bramer Corporation Limited, the holding company of the financial services cluster of the British American Investment Group in Mauritius that consists of British American Investments Company (Mauritius) Insurance, Bramer Banking Corporation (Banking & Leasing) listed on the Stock Exchange of Mauritius and Bramer Asset Management Ltd (Asset & Wealth Management).

Mr Ghulati is the Group President and Chief Executive Officer of Bramer Corporation Limited and provides leadership to the Presidents and Chief Executives of BAI Co (Mtius) Ltd, Bramer Banking Corporation Ltd, Bramer Asset Management Ltd, Bramer Capital Brokers Ltd and Bramer Global Services Ltd. He is also the Vice Chairman of Bramer Banking Corporation Ltd and a director on over 25 subsidiary Boards of the British American Group.

Mr. Dawood Rawat is currently the chairman of Seaton Investment Ltd, Mauritius and he has extensive experience in the Financial Services sector. He is now Chairman Emeritus of all The Companies of the Group. He has been the Chairman of the Board of British American Investment Co. Mauritius Ltd. since 2002. He has served as the Chairman of the Boards of Iframac Limited and Courts (Mauritius) Ltd. He has been the Chairman of GlobalCapital p.l.c., since October 4, 2012. He served as the Chairman of the Board of Mauritius Leasing Co. since 2005. He has been a Non-Executive Director of The Mauritius Leasing Company Limited since 1997. Mr. Rawat has been a Non-Executive Director of Global Capital plc. (alternatively, Global Financial Services Group Plc and Bahamas and Malta) since March 2003 and Bramer Banking Corporation Ltd. since April 01, 2008.

Top Ten Shareholders 2013 - Annual Report

No.	Names	Shares	Percentage
1	British-American (Kenya) Holdings Limited	452,504,000	23.92%
2 Equity Holdings Limited 405,000,000 21.41%
3	Jimnah M. Mbaru	219,300,000	11.59%
4 Benson I. Wairegi 100,298,400 5.30%
5	Kenya Commercial Bank Nominees A/C 915F	91,404,035	4.83%
6 Peter K. Munga 75,000,000 3.97%
7	James N. Mwangi	75,000,000	3.97%
8 Co-op Bank Custody A/C 4012 60,000,000 3.17%
9	Filimbi Limited	58,453,600	3.09%
10 Standard Chartered Nominee Account 17,165,300 0.91%
11	Others	337,326,515	17.83%
Grand Totals 1,891,451,850 100.00% Bottomline: Britam EA may not be affected but for the association with Dawood Rawat (& his directors) who is connected with Bramer Bank. The Mauritian Government may take over the ownership of the shares that Britam (Kenya) Holdings has in Britam EA. If these shares are sold then Britam EA may have a new 'Strategic Partner' or a wider base of EAC shareholders. Britam EA can benefit from this boondoggle by taking over business units owned/run by Britam (Mauritius).