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Kenya Economy Watch
#2481 Posted : Sunday, February 16, 2020 11:40:33 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,394
Location: Bohemian Grove
Ericsson wrote:
murchr wrote:
Ericsson wrote:
murchr wrote:
Ericsson wrote:
murchr wrote:
Ericsson wrote:
murchr wrote:
Why is the price of petrol going up yet the shilling is strong?

Kenya pipeline charges went up.
International price of oil

International oil prices are flat. The shilling is stronger against the dollar. So back to my question, why are Kenyans being forced to pay more at the pump?

Oil trading is normally on futures.
The current retail prices been set are based on the international oil prices in November 2019

Wacha mchezo wewe, internationally prices at the pump are going down. We seem to be the ones on the inverse

Read my two statements again highlighted in blue.
Oil trading is on futures orders.The current pump prices are reflective of the price of brent crude in November.
Check the link below for the behaviour of oil prices in November 2019;

The current international prices you are saying are going down will be reflected locally in pump prices in May 2020.
The lag is usually 90 days.

Nov 2019 the price of oil was lower than the previous months but you are still paying more. Another thing the shilling has been strong since then.

According to your hypothesis when will Kenyans get releaved at the pump? Keep in mind the price difference in the last year has been about $10 and the $ to kes has been about the same ranges.

Can someone else help me understand this mazematic?

Refer to this too;

Since January prices were lower,let's wait and see April

I thought this discussion of pump prices was done and dusted on the "why I'm I still paying 120" thread. Kenyan pump prices never add up. You can follow Brent crude, futures, taxes, inflation or any other wild goose thrown at you but its just a waste of time.
#2482 Posted : Wednesday, February 19, 2020 11:57:13 AM
Rank: Elder

Joined: 12/4/2009
Posts: 8,171
Location: NAIROBI
#2483 Posted : Thursday, February 20, 2020 6:04:40 PM
Rank: Elder

Joined: 12/4/2009
Posts: 8,171
Location: NAIROBI
#2484 Posted : Friday, February 21, 2020 10:30:40 AM
Rank: Elder

Joined: 12/4/2009
Posts: 8,171
Location: NAIROBI

Dozens of Tuskys employees are set to lose their jobs after the supermarket announced a restructuring process aimed at helping it stay afloat.

Tuskys, citing a tough business environment that has seen its sales drop in the last two years, says an unspecified number of employees will be sent home by March 19.

In a letter to Boniface Kavuvi, the secretary-general of Kenya Union of Commercial, Food and Allied Workers, a labour union for retail workers, Tuskys said it had already informed affected employees of the impending decision.

“The company’s performance in the last two years has been on the decline. As such, the company has embarked on a process of restructuring its operations to ensure financial viability,” said Tuskys General Manager in charge of Human Resource, Francis Kimani.

Mr Kimani noted that the drop in sales and customer numbers was despite growth of the country’s retail sector, which has attracted multinational players.

“This is a business move aimed at restoring the company’s financial viability,” said Kimani in the letter dated February 18. Tuskys did not reveal the number of staff that had been affected by the purge. Our calls and text messages to Tuskys CEO Dan Githua went unanswered.

The Standard has seen a termination letter to one of the employees, most likely in the technical department, according to a source.

“We write to notify you that following the reorganisation of various departments in line with the new administration, Tusker Mattresses Limited has been constrained to lay off some members of its staff.

Regretfully, you are among the employees whom Tusker Mattresses Limited can no longer continue to offer employment and will terminate your employment contract with effect from March 19, 2020 on account of redundancy,” reads the letter.

Tuskys joins an increasing number of companies which, responding to policy changes and a tough business environment, have opted for this move to remain afloat.

The retail environment has especially been volatile, with giants such as Nakumatt being pushed into extinction after creditors voted for it to be wound up. Uchumi, another supermarket, is struggling.

For Tuskys, the writing has been on the wall, especially after the entry of global retail giants like French-based Carrefour, Walmart’s Game and South Africa’s Shoprite. However, the union does not think Tuskys is struggling, noting that the retail chain has opened around four new branches since October 2019.

Instead, a member of the union, who did not want his name disclosed as he is not cleared to speak to the media, told The Standard that Tuskys chain simply wants to scrap formal employment, given that they have an internship programme with the Government.

Tuskys, which boasts of over 63 retail stores in Kenya and Uganda, has also toyed with the idea of issuing its shares to the public as it seeks to raise funds to help it navigate a difficult economic terrain.

Reports of local retailers intending to list only to stay out is not new. Before it went down, Nakumatt had expressed its intention to float its shares.
#2485 Posted : Saturday, February 22, 2020 5:45:29 PM
Rank: Elder

Joined: 12/4/2009
Posts: 8,171
Location: NAIROBI
Ukur Yattani to slash current financial year budget by ksh.161bn
#2486 Posted : Monday, February 24, 2020 11:51:37 AM
Rank: Elder

Joined: 12/4/2009
Posts: 8,171
Location: NAIROBI
#2487 Posted : Sunday, March 08, 2020 8:13:56 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 1,798
Location: Kitale

Other African countries have shown the way.Sisi hapa kenya ni siasa tu.
Towards the goal of financial freedom
#2488 Posted : Wednesday, March 18, 2020 10:26:39 AM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,092
It is increasingly likely KE will find itself in a recession this year and the next. The proverbial fiscal cliff is about to unfold in devastating fashion. USD strength in this confusion will compound the consequences on an exponential scale.
The main purpose of the stock market is to make fools of as many people as possible.
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