Stanbic Bank Kenya has appointed Michael Mutiga as its new CEO, effective August 1, 2026, subject to regulatory approval.
Mutiga joins from Safaricom and brings over 20 years of experience in banking, telecoms and digital financial services.
The Government is underselling Safaricom & should be reconsidered.
The valuation is grossly bad for Kenya. Safaricom shares were trading and Ksh 45 in 2021 valuing the company at Ksh 1.8T. This was before the Ethiopian investment.
Now GoK is selling at Ksh 34 per share at a valuation of below Ksh 1.4T. A 24% discount from 2021 valuation. Either there was self interest or incompetence in negotiating for a better deal for Kenyan.
Safaricom ought to have been split into 3 companies before the sale. Safaricom Telco, Safaricom Towers & Safaricom Financial Services. The sum of the 3 would be of much more value than of the whole.
Something unprecedented is that there's still an element of a loan. GoK is collecting future dividends now. We are taking a 40Bn loan by mortgaging future dividends of the 20% stake left.
We must stop acting like needs for development will not be there after elections. All the securitisation, illegal loans and underselling of government assets is motivated only by the desire to be seen to do something irregardless of the cost now and in the future.
And much more.
We are African and Africa is our Business..
https://t.co/EEQQRXLkEO
@IAbdallahke@Josh001J This is very true. The big question here is at what cost? Soon everything will be managed by foreigners in the name private investors.
@Thuranira_1 Shares listed and traded on any securities exchange licensed by the Capital Markets Authority do not attract Capital Gains Tax which is at around 15% but rather a Withholding Tax of 0.3% of the gross sales proceeds.
@Thuranira_1@BenardKichakuri Shares listed and traded on any securities exchange licensed by the Capital Markets Authority do not attract Capital Gains Tax which is at around 15% but rather a Withholding Tax of 0.3% of the gross sales proceeds.
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