In Kenya new legislation deems that once something is published on the website of a listed company it is deemed to have been delivered to the shareholder. Beem-me-up-scotty-Star-trek-type-thing. To listed companies this avoids the hassle of dealing with the ignorant masses of retail shareholders. The SEC in Kenya and the Nairobi Stock Exchange have endorsed [...]
Influencing perception – levelling the playing field with the media
For listed companies // 23.08.2010The power of the press in influencing your community on issues pertinent to your industry can be negative. And listed companies can feel powerless. Unless they get out their cheque book and pay for content to be published in the hard copy press to counter the negative press or at least correct it. Actively building [...]
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Governance without leadership:leadership without Governance
“Governance and leadership are the yin and the yang of successful organisations. If you have leadership without governance you risk tyranny, fraud and personal fiefdoms. If you have governance without leadership you risk atrophy, bureaucracy and indifference.” Mark Goyder (Director of Tomorrow’s Company) The Nigerian Stock Exchange is a good example of the absence of [...]
Continue →The most powerful enforcement body…….
“King 2 emphasizes that the most powerful enforcement body in the corporate system is the shareholder body. Via pension funds, provident funds, insurance products and other group investments, the public makes up the largest owner of many publicly listed companies.” (King Report) If the public is ignorant of their rights and the role they play [...]
Continue →What the Nigerian Stock Exchange does not know
There is a culture of mistrust in Nigeria that has been entrenched over many years and the current disaster over the Nigerian Stock Exchange is a logical conclusion to the absence of transparency and integrity in the market. Here are some interesting statistics on the number of shareholders in Nigeria – or estimates of statistics [...]
Continue →Well balanced insight into IR strategy
The article below is taken from www.iralert.com. I like it because it gives a good insight into the use of social media as well as provides some insights into the core basics of any IR programme. Interesting reading for an executive that is considering stepping up IR activities in their African company. Yes we do [...]
Continue →Constructive suggestions for Safaricom’s investor relations website section
Safaricom is a big, big company but it has a mediocre investor relations website. I have provided a few constructive suggestions on how to improve the website and shareholder communications below:- SMS. Have an SMS registration module online and undertake to SMS the availability of material information being posted on your website as soon as [...]
Continue →Zimbabwe economic insights:highly recommended reading
Imara Holdings, a pan African investment banking organisation with an asset management division managing funds across Africa, and with offices in Harare, provide some really insightful research into African markets. Especially for Zimbabwe. This is some of their best stuff. Investment Notes – July/August 2010 – “Lies, Damned Lies and Statistics!” In recent weeks we [...]
Continue →Afribank plc Nigeria manipulated their 2007 IPO
I had a brief look on the Afribank website to see if they had any public statements on their commitment to good corporate governance. They did not. Another article from the www.BusinessDayonline.com, a media firm in Nigeria sets out the details. Good stuff. The Securities and Exchange Commission (SEC) yesterday accused Afribank and its senior executives [...]
Continue →Nigerian Stock Exchange governance sets bad example: + they are broke
The absence of reporting by the NSE mirrors that of listed companies:- not reporting to the SEC the 2010 figures. As a member of the general public we can’t access the NSE’s 2008 figures let alone 2010. I am assuming that the figures in between have been submitted to the SEC and the SEC has [...]
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Corporate announcements
- DAWN: Notice of the Seventh Annual General Meeting September 3, 2010
- CEC: Release of the 2010 interim results August 30, 2010
- MEIKLES unaudited interim financial results to 30 June 2010 August 26, 2010
- BancABC 2010 interim results and presentation August 25, 2010
- OK ZIMBABWE: Trading update - 4 months to 31st July 2010 August 23, 2010
