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Potential merger NIC + CBA
VituVingiSana
#141 Posted : Monday, May 27, 2019 3:43:34 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,290
Location: Nairobi
Conquestador wrote:
sparkly wrote:
Conquestador wrote:
sparkly wrote:
Conquestador wrote:
There is a big hidden story in that notice.

So, Awuondo becomes Kenya chairman and also 'heads' the digital business - mshwari and its spin-offs.
Meaning, Gachora reports to Awuondo in Kenya, and someone from digital business also reports to Awuondo.
Question: is digital business part of to-be-rebranded NIC Group or not?
If yes, its not clear from this notice.
If no, then NIC shareholders have been denied the golden goose.


Gachora is the overall boss of the combined entity. Awoundo demoted from regional leadership. Awuondo is 62, Gachora 51. In corporate lingo, Awuodo is being given a soft landing, to be retired from active management very soon.



In corporate lingo, CEOs, group or otherwise, report to the Board. His chair in Kenya is Awuondo. 62 is the new 30. Unless you have no idea as to whom we are contending with here.




Every company in a group has a Board, CEO is part of the Board, Chairman role in a Board is non-executive. A person can be executive in one company and non-executive in another.

What am I missing?


Kenya company holds significant sway in the group. Chairman and Board of bank entities have not only official oversight responsibilities but also, in many cases are deeply involved in operational minutiae in risk management and fiduciary relationships that a bank enters due to regulatory aspects.

John will need to swirl above the usual board hubris very fast.
The question now is what becomes of the m-shwari company. Those who know the import of this question, knows.
Tell us.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Angelica _ann
#142 Posted : Monday, May 27, 2019 3:47:59 PM
Rank: Elder


Joined: 12/7/2012
Posts: 10,796
VituVingiSana wrote:
Conquestador wrote:
sparkly wrote:
Conquestador wrote:
sparkly wrote:
Conquestador wrote:
There is a big hidden story in that notice.

So, Awuondo becomes Kenya chairman and also 'heads' the digital business - mshwari and its spin-offs.
Meaning, Gachora reports to Awuondo in Kenya, and someone from digital business also reports to Awuondo.
Question: is digital business part of to-be-rebranded NIC Group or not?
If yes, its not clear from this notice.
If no, then NIC shareholders have been denied the golden goose.


Gachora is the overall boss of the combined entity. Awoundo demoted from regional leadership. Awuondo is 62, Gachora 51. In corporate lingo, Awuodo is being given a soft landing, to be retired from active management very soon.



In corporate lingo, CEOs, group or otherwise, report to the Board. His chair in Kenya is Awuondo. 62 is the new 30. Unless you have no idea as to whom we are contending with here.




Every company in a group has a Board, CEO is part of the Board, Chairman role in a Board is non-executive. A person can be executive in one company and non-executive in another.

What am I missing?


Kenya company holds significant sway in the group. Chairman and Board of bank entities have not only official oversight responsibilities but also, in many cases are deeply involved in operational minutiae in risk management and fiduciary relationships that a bank enters due to regulatory aspects.

John will need to swirl above the usual board hubris very fast.
The question now is what becomes of the m-shwari company. Those who know the import of this question, knows.
Tell us.


Exactly my thoughts when i read the post. Please tell us smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
sparkly
#143 Posted : Monday, May 27, 2019 7:37:08 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,218
Location: Enk are Nyirobi
Angelica _ann wrote:
VituVingiSana wrote:
Conquestador wrote:
sparkly wrote:
Conquestador wrote:
sparkly wrote:
Conquestador wrote:
There is a big hidden story in that notice.

So, Awuondo becomes Kenya chairman and also 'heads' the digital business - mshwari and its spin-offs.
Meaning, Gachora reports to Awuondo in Kenya, and someone from digital business also reports to Awuondo.
Question: is digital business part of to-be-rebranded NIC Group or not?
If yes, its not clear from this notice.
If no, then NIC shareholders have been denied the golden goose.


Gachora is the overall boss of the combined entity. Awoundo demoted from regional leadership. Awuondo is 62, Gachora 51. In corporate lingo, Awuodo is being given a soft landing, to be retired from active management very soon.



In corporate lingo, CEOs, group or otherwise, report to the Board. His chair in Kenya is Awuondo. 62 is the new 30. Unless you have no idea as to whom we are contending with here.




Every company in a group has a Board, CEO is part of the Board, Chairman role in a Board is non-executive. A person can be executive in one company and non-executive in another.

What am I missing?


Kenya company holds significant sway in the group. Chairman and Board of bank entities have not only official oversight responsibilities but also, in many cases are deeply involved in operational minutiae in risk management and fiduciary relationships that a bank enters due to regulatory aspects.

John will need to swirl above the usual board hubris very fast.
The question now is what becomes of the m-shwari company. Those who know the import of this question, knows.
Tell us.


Exactly my thoughts when i read the post. Please tell us smile


We are still waiting.
Life is short. Live passionately.
VituVingiSana
#144 Posted : Monday, August 19, 2019 12:38:49 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,290
Location: Nairobi
NIC, CBA bank merger exempted from paying millions in share sale tax
https://www.businessdail...40294-kdd9kiz/index.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Angelica _ann
#145 Posted : Monday, August 19, 2019 1:16:34 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,796
[quote=VituVingiSana]NIC, CBA bank merger exempted from paying millions in share sale tax
https://www.businessdail...0294-kdd9kiz/index.html[/quote]

The rich & mighty are excepted from paying taxes which they can afford. Ok animal farm!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
sparkly
#146 Posted : Monday, August 19, 2019 8:01:07 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,218
Location: Enk are Nyirobi
Angelica _ann wrote:
[quote=VituVingiSana]NIC, CBA bank merger exempted from paying millions in share sale tax
https://www.businessdail...0294-kdd9kiz/index.html[/quote]

The rich & mighty are excepted from paying taxes which they can afford. Ok animal farm!!!


The article is misleading. Transfers of shares and land in corporate re-organisations have always been exempted from Stamp Duty. It's in the Stamp Duty Act.
Life is short. Live passionately.
Ericsson
#147 Posted : Friday, September 20, 2019 11:12:17 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,248
Location: NAIROBI
MA @Morris_Aron

NIC Bank is asking its employees to sign new job contracts ahead of the finalization of the merger. Meanwhile, CBA is not. Are you seeing what I am seeing?
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