What a man! Sasa sisi Christians wacha tuache kubishana social media, we repent tuanze kuintercede for you with the God of heaven. The 6th 💯. A man we can be proud of.
I stopped getting nervous at a job interview ever since I realized it’s basically a conversation between two liars to the point where who can impress who more
Milk is at 80 ksh now, all time high
Petrol is at 228 Ksh, all time high
Diesel is at 229 ksh, all time high
Mayai ya grade ni 20 bob, all time high
1 unit of power is 30 ksh, all time high
1 unit of water is 200 ksh, all time high
And still kuna mtu anasema eti Tutam.
NSSF holds the pension money in trust.
The law requires trustees to act in the best interest of the members: protect their savings and grow them.
In March, NSSF put about Sh38 billion into Kenya Pipeline shares at Sh9 each, in an IPO that was failing until State-linked funds rescued it.
Uganda’s own pension fund refused to buy. It said Sh9 was too expensive.
This week, a mystery investor moved Sh42.5 billion of KPC shares, at Sh9.02. Almost exactly the IPO price. Only three shareholders hold enough shares to make that trade: Uganda, NSSF and the Public Servants Pension Scheme.
And KPC will pay a dividend to shareholders on its register on November 30. On those shares, about Sh1.4 billion.
So NSSF must answer:
• Did you sell or not?
• Why sell weeks before a Sh1.4 billion dividend, at no profit?
• Who told you to buy in March, and who told you to sell now?
If a pension fund buys when the government needs a buyer, and sells when someone else needs shares, without earning dividends that it could have, it is not serving the workers' interests.
If it is established that the NSSF trustees breached their fiduciary duty to members, they must be taken to court and held personally accountable.
On this Mashujaa Day, we recognise Senator Okiya Omtatah for his unwavering courage in defending the Constitution and challenging injustice. He deserve a medal on behalf of kenyans