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SA monipolizing EA and not Kenya monopolizing EA

Discussion in 'Kenyan News and Politics' started by Geza Ulole, Apr 26, 2010.

  1. G

    Geza Ulole JF-Expert Member

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    [​IMG]
    South Africa: Tiger Brands Takes Control of Kenya's Haco Industries

    Thabang Mokopanele
    1 October 2008

    Johannesburg — FAST-moving consumer goods group Tiger Brands has completed the acquisition of a controlling stake in Kenyan group Haco Industries as it prepares to consolidate its market share in east Africa.
    The deal, which was concluded yesterday after a conditional announcement in May, would see Kenyan businessman Chris Kirubi selling 51% of Haco to Tiger Brands for an undisclosed amount.
    "This is a very exciting moment for us to experience the execution of our strategy into the greater continent," said group CEO Peter Matlare.
    He said from Nairobi yesterday that Kenya had one of the most developed economies in the Common Market for Eastern and Southern Africa (Comesa) region.
    Entry into this market would allow Tiger a tariff-free opportunity to trade in the region, which makes up 21 countries with a market of about 385-million people, he said.
    Matlare said through the acquisition, Tiger Brands would be able to utilise Haco's distribution capabilities and network to increase Tiger's footprint in the east African and Comesa region as well as take advantage of future growth opportunities.
    Tiger said the deal represented a major leap for the two firms that sought to conquer the region and the continent since partnerships had traditionally proven more effective in entering new territories as opposed to starting from scratch.
    Taco said it aimed to get access to Tiger Brands' product portfolio and boost its capacity to produce its own products as a strategy to increase its market share and hit back at competition from Asia and Egypt.
    Taco hoped to take advantage of the collapse of Reckitt Benckiser, which manufactures household brands such as Dettol, Jik and Harpic.
    Reckitt Benckiser closed shop in Kenya last year and ceded production of its flagship brands to a local manufacturing contractor -- Orbit Chemical Industries -- citing difficult market conditions.
    Tiger Brands manufactures pharmaceutical, hospital, food and personal and home care products and offers Haco an opportunity to venture into new business segments.
    http://allafrica.com/stories/printable/200810010287.html
     
  2. G

    Geza Ulole JF-Expert Member

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    there were some arguments here from some of our Northern neighbors on who influences the region, apart from the other evidences i gave on the thread Kenya monopolizing EA (that current is no more in the forum), here is another acquisition from those giants that don't yap but execute quietly as the way men are supposed carry out on slaughtering of the individuals who are day dreaming that are EA power house!
     
  3. Smatta

    Smatta JF-Expert Member

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    Ever heard of Laissez-faire capitalism? It simply means allowing industry to be free from state intervention, especially restrictions in the form of tariffs and government monopolies. Kenya is a free market economy, the South Africans can invest all they want, we don't disagree with that as long as they pay taxes and create employment, thats what's important.
     
  4. Deshbhakt

    Deshbhakt Senior Member

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    Very well stated in terms of the benefits towards Kenya for now but given the fact that they have an upperhand in terms of industries etc, they are bound to benefit more in the community irrespective if the currency rates which still have differentials...
     
  5. eliakeem

    eliakeem JF-Expert Member

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    Refers the bold txt. That is a hypothetical situation, there is no on earth a state that apply a purely price mechanism economic system. What exists is the degree of the freedom that the governments of the world grant to est. Even in US is not the case. So kenya must watch out what level of freedom that is giving to the (foreign) investor becoz the intervention is inevitable.
     
  6. m

    moyo JF-Expert Member

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    This has been Chris Kirubi's plan to sell part of his shares to a strategic investor and it has only happened to be a South African ,this does not mean that South Africans are monopolising E.A.Get your facts right,South African'S will never survive in Kenya alone unless they team up with local partners who will soon push them out.
    WE should struggle to own our economies and free them from foreign dominance, we may need them to stabalise but at the end we should have a last laugh.If S.A has found a safe haven in TZ so let it be but they trade carefully when crossing Kenyan borders.
     
  7. G

    Geza Ulole JF-Expert Member

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    Never alert a fool cause will keep on arguing, from ur tourism industry to Seacom and Eassy fiber optic cables, to most of ICT businesses in Kenya, to ur paying TV (Dstv) to the clothes u wear either from Deacons to Woolworths to the wines you drink to the toilet paper u use to wipe ur butts (by The tiger brand) to the pharmaceuticals to ur railway without forgetting ur Kenya airways (significant % owned by SAs) and ur banks yet u yap here ati "he will chase them away, :blah:" just make sure he is not kicked out of HACO Industries since he is a minority shareholder now (since Drum Magazine (since when a Kenyan can buy entertainment stuffs while dying of hunger) and EABL and SABMiller deals excite u with the economy that could not absorb those simple investments)! Keep dreaming my friend since when a Kenyan is that smart? a Kenyan is simply an arrogant creature!
     
  8. Smatta

    Smatta JF-Expert Member

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    GTFOH with your bullsh*t arguments,
     
  9. G

    Geza Ulole JF-Expert Member

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    Heheheheh easyyy and calm down boy, here is another evidence "the EA giant "being acquired by the real giants and yet you are still with pride that your economy is the best! So just give me some rough estimation if Standard bank acquires Baclays Kenya what percent will SA financial companies withheld in that Kenya of yours 90%? enhee? who hah keep dreaming buddy! You monopolize EA and not SA, i know! :rolleyez: and keep swimming in the sea-world of propaganda otherwise swallow your pride and face the reality the World is round and rotates!! make sure you are not slam-dunked both ways! by the way how is your visa restriction to UAE? thought you guys are highly educated (as you usually claim)! how comes butt licking the UAE Kingdom? got rubbed on a wrong foot enhee? heheheh :drum:

    Gado is laughing at you highly skilled nation yet embarrased of a lone degree certificate lucky enough your Foreign Affair Minister has one otherwise a cabinet reshuffle would have to take place first before the delegation is sent!

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    StanChart to buy Barclays custody business

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    Standard Chartered banking hall. Standard Chartered PLC indicated that the gross asset value of the transaction was approximately US$3 million and customer assets under custody were approximately US$6.2 billion. Photo/FILE
    By KEVIN MWANZA
    Posted Wednesday, April 28 2010 at 00:00

    Barclays PLC on Tuesday said it will sell its African custody business to Standard Chartered, the parent company of Kenya’s Standard Chartered Bank (K) Limited, before the end of 2010.
    The amount of the deal, that would see Standard Chartered take over all Barclays custodial business in Africa, was not mentioned in the announcement.
    But a statement from Standard Chartered PLC indicated that the gross asset value of the transaction was approximately US$3 million and customer assets under custody were approximately US$6.2 billion as at 31 December , 2009.
    Barclays Bank Kenya followed cue and announced that it will be transferring its custody business to Standard Chartered Kenya.
    The sale is now awaiting regulatory approval and other customary conditions by both the Central Bank of Kenya and the Capital Markets Authority.
    Barclays African custody business is a pan-African securities and custody business which employs 66 people and covers 16 markets from its operations in eight countries, which include Botswana, Ghana, Mauritius, Tanzania, Uganda, Zambia and Zimbabwe. It employs 22 people in Kenya.
    Africa was the only remaining region in which Barclays PLC still engaged in the custody business, after exiting all other global custodial ventures in 1998.
    Custody business in Africa has been profitable for Barclays and the sale is not expected to reduce the value of Barclays shareholders nor impact the banks long-established client relationships and banking business.
    “Our custody business is attractive and profitable business that we have built together with our valued clients over a number of years. Its sale realises value and gives us an opportunity to focus on increasing our presence in key market segments,” said Mr Adan Mohamed, Managing Director, Barclays Bank Kenya.
    But the fate of the affected employees was not discussed, as the statement only said the bank would facilitate a smooth transition for them .
    “We continue to seize the opportunities in Africa. Following the bank’s publication of record results in Africa in 2009, we remain confident in our strategy to deliver long-term, sustainable growth,” said Mike Hart, Standard Chartered Africa CEO in a separate statement on the banks website.
    http://www.businessdailyafrica.com/StanChart%20to%20buy%20Barclays%20custody%20business/-/539552/907844/-/view/printVersion/-/11litxxz/-/index.html
     
  10. m

    moyo JF-Expert Member

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    Get your facts right before you start parading your ignorance.You people you are just envious of Kenyans,am sorry you will never beat us in anything.Meza wembe
     
  11. G

    Geza Ulole JF-Expert Member

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    Hell No! i never envy an arrogant person who likes to project him/herself above the other! usually humble individual does his/her things quietly n in a right way n leave acknowledgement to come automatically from the people seeing his/her success just like the SA guys! Not some boasting for nothing individuals like u! Hell No n over my dead body i will do that "enving some day dreaming individual like u"!
     
  12. Smatta

    Smatta JF-Expert Member

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    Is Tanzania even a country you dumb dweeb? Go ask anyone outside Africa if he's ever heard of Tanzania.. stop elevating yourselves while we all know where we always defeat you guys, you are becoming too much with your obsession of Kenya, get another d*k to ride. Geza Ulole you should get out of that backward country you call home and maybe you'll appreciate some things, mtu analinganisha vitu ambavyo havilinganishwi, Mtanzania na Mkenya ni very different, usidanganywe na mtu. Am so tired of this crap of comparing Kenya to Bongo, Tanzanians need to get a life and let us be, with all our problems we deserve some quiet times, am sick of you guys.
     
  13. b

    bob giza JF-Expert Member

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    where's the fights from? i think nobody wants to compare him/herself with anybody..if we are debating economy or finance matters let it be that, no point of saying no body knows no Tanzania outside Africa same as saying "i never envy an arrogant person", if you have nothing to debate on the said topic then why not shut up your holes?
     
  14. Smatta

    Smatta JF-Expert Member

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    Is this fruit addressing me? Now you are getting all homotional just because I said no one knows TZ outside east and central Africa? thats a fact boob and you have to live with it. OUT
     
  15. G

    Geza Ulole JF-Expert Member

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    Grow up boy so now ur argument has shifted to which country is known better outside Africa? Which school did u go my friend? do u know arguing and sticking on points? by the way do you know Norway that much? and how about its economy? Uende kunywa chang'aa na uache wanaume wakibisha
     
  16. eliakeem

    eliakeem JF-Expert Member

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    Smatta go east go west there is no place like tz, the conscience of africa. Kny is known through out the world as the good example of the effects of colonialism, puppet used by westerners to suck the wealth of Africans. that is why during ubaguzi wa rangi in south africa only kenyans (in the entire continent) were freely allowed to pop in that country. and this is becoz of lack of dignity, in kenya misusing another man basing on tribe, race, ni kawaida. so smatta get back to your sense when you utter any thing a bout tz, we stand out of the crowd.
    even nowadays you smattas you are known for ukora. In your society no one is trusting any one. look at your govt, no reliance kila mmoja anamwibia mwenzake.
    Lkn sud enough that kwa smattas if you mention dignity, conscience, moral, superego, equity, tranquility are vocabulary for them.
    i remain,
    eliakeem.
     
  17. Bongolander

    Bongolander JF-Expert Member

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    The fact that Kenya has monopolized EA is there, whether we admit it on not. BUt we have to be honest as well that it is not Kenyas fault to dominant. Am Tanzanian, but i must adimit that Kenyans have better labour skills and are hard working and more organised than my brothers and sisters down here, that is not Kenyas fault. Huku bado tunaendeleza uswahili na uduni (eti tunawacheka wakenya kwa ukabila) ingawa kama kukiwa na nia ya Kweli it is a matter of years for us to be on equal footing with Kenya.
     
  18. Bongolander

    Bongolander JF-Expert Member

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    What in Gods name has gotten you Smatta, you have all of a sudden become a wolf. Do you think Kenya is better than Tanzania, do you think we ever want to be Kenyans? We are happy to be Tanzanians and we are and we will be proud to be so, no matter what. NI kweli tuko nyuma tukulinganishwa na Kenya, lakini sio kama wewe unavyosema. We are a country that is why we are Tanzania, not Kenya, we are not tribes we a COUNTRY, suffer as one, Hapa ndio kunatofauti kati ya Mkenya na Mtanzania. We are neighbors whether you like us or not you can not kill us.

    Kwanza wewe Mungiki kabisa, mnapenda sana mabibi wa kitanzania halafu leo unasema upuuzi wako. Haha my friend usiwe na hasira hapa kwenye forum.
     
  19. G

    Geza Ulole JF-Expert Member

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    stolen mind kwanza wewe ni Mkenya what do you mean by uduni? kama ni Mtanzania huna exposure jaribu kutembea na kuwajua hawa watu ni arrogance tu hawana chochote! zinduka!
     
  20. G

    Geza Ulole JF-Expert Member

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    SA's Tiger Brands acquires Kenya miller for Sh2bn

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    Prof Njuguna Ndung'u (left), the CBK Governor, Mr Polycarp Igathe, who was Haco Tiger Brands CEO, and businessman Chris Kirubi during the launch of the firm in Kenya in 2011. Tiger Brands has bought a Nairobi miller and bakery. FILE

    IN SUMMARY

    • Jo'burg-listed Tiger Brands goes for Rafiki Mills and bakery after Kirubi's Haco deal.
    • This will give it a presence in the local flour milling and bread baking business, which will diversify its earnings away from Haco Tiger Brands.
    • The transactions are expected to close in the next few weeks following approvals from regulators such as the Competition Authority.


    South Africa's Tiger Brands has acquired Kenyan flour miller and bakery for Sh2.1 billion, five years after buying a majority stake in Haco from billionaire Chris Kirubi.
    The Johannesburg Stock Exchange-listed firm has disclosed in its latest annual report that it has reached an agreement for the complete buyout of Rafiki Mills and Magic Oven Bakeries.
    This will give it a presence in the local flour milling and bread baking business, which will diversify its earnings away from Haco Tiger Brands which produces stationery, home and personal care products.
    The deal underlines the growing interest of South African firms like retailer Massmart to seek a presence in Kenya as a launchpad to the fast-growing East African market via acquisition of majority stakes.
    "The group has concluded an agreement … to acquire the entire share capital in flour and a bakery business based in Kenya (Rafiki Mills and Magic Oven) for a total purchase consideration of $25 million," Tiger Brands said in a statement.
    "This acquisition gives us access to important growth categories in which we have been successful in South Africa."
    The transactions are expected to close in the next few weeks following approvals from regulators such as the Competition Authority.
    For Tiger Brands, the acquisition of Rafiki is part of its plans to gain a larger market share of Africa's food business including flour milling, beverages, and snacks.
    The multinational last year acquired a 63.35 per cent stake in Nigeria-based Dangote Flour Mills (DFM) from Africa's richest man Aliko Dangote. DFM is a flour miller and makes pasta and noodles.
    "Whilst South Africa remains the bedrock upon which the group is built, the international operations provide us with exponential growth opportunities," Tiger Brands said.
    Little is known about Magic Oven and Kenya Bureau of Standards lists it as a dealer of cakes and buns.
    Rafiki, which deals in wheat and maize flour from its Nairobi plant, is listed by the Kenya Revenue Authority (KRA) as Kenya's fourth largest miller behind Mombasa Millers, Pembe Millers and Premier Group on income tax.
    It is ranked ahead of Nairobi bourse listed Unga Group -which generated a profit of Sh508 million in the year ended June 2013. This means that Rafiki is generating in excess of Unga profit and taxman ranks it as the 27th largest taxpayer in Kenya.
    The acquisition of Rafiki by the deep-pocketed Tiger Brands is set to increase competition in the local cereal and flour milling business where leading firms are engaged in vicious market share wars.
    Tiger Brands sales stood at Sh218 billion in the year to September, which is 75 per cent bigger than the Sh124 billion that Safaricom - Kenya's most profitable firm - returned last year.
    The deal comes as Unga Group reviews operations as it seeks a buyer for its stake in a paper packaging firm and prime land as the miller looks for new deals in the food processing business.
    The miller will sell part or the entire 51 per cent stake in the packaging firm Bullpak Limited.
    It is set to buy a Nairobi-based baker, Ennsvaley Bakery, to give it a presence in the finished cereal goods market which it exited more than 15 years back with the sale of Elliots Bakeries.
    This will put it in a head to head battle with Tiger Brands, which is eyeing a similar business model.
    Tiger Brands says the bread bakery and flour milling business will be run separately from its regional subsidiaries Haco Tiger Brands and East African Tiger Brands Industries.
    Haco Tiger Brands was born after the South African firm bought a 51 per cent stake in the then Haco Industries (K) Ltd from Mr Kirubi in 2008.
    Haco deals in BIC brand of pens, personal and household care products such as Ace, Jeyes, Miadi, Motions, TCB, Bloo, and SoSoft.
    READ: Tiger Brands eyes Kenyan acquisition
    The deals underline the renewed interest in Kenya by South African multinationals seeking to gain from increased economic growth in the East African market.
    Some of the South African firms that have expanded into the local market include telco MTN and retailer Woolworths.
    Others seeking a presence in Kenya include retailers Edgars, Foschini, and Massmart-which is in talks to buy a majority stake in Naivas Supermarket.



    SA
     
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