CYTONN TO ACQUIRE SERIANI ASSET MANAGERS LIMITED

Cytonn Asset Managers Limited (CAML) earlier today announced entering

CYTONN Executive Direcotr Edwin Dande. Photo Courtesy Standard Digital

Seriani Asset Manager Photo Credits Seriani Website

into a conditional agreement to acquire all the issued shares of Seriani Asset Managers Limited (Seriani), a fund management company based in Kenya. The acquisition will however be subject to various conditions including regulatory approvals from the Competition Authority and the Capital Markets Authority of Kenya.
Making remarks at the event Maurice Oduor, Principal Officer, Cytonn Asset Managers Limited made it known;  “This strategic acquisition of Seriani is meant to accelerate our entry into the regulated investments products market as Seriani already has three registered Collective Investments Schemes offering a Money Market Fund, a Balanced Fund, and an Equity Fund. This will save us the amount of time it takes to go to market with offerings for retail investors.”
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Uhuru Passes Raila Knife in Handshake to Stab Friends

The high cost of living has for a long while now become a thorn pricking the feet of many Kenyans forced to walk to work because of their inability to pay commuter fees. It has become the cause of the constant rumble emanating from the bellies of Kenyan parents who increasingly  fall short in their quest to cater for the nutritional needs of their children and a daily nightmare to all Kenyans who retire to bed and dream of nothing more but being evicted from the havens they call home for lack of monies to pay monthly rent. The situation further compounded by a restless ever growing unemployed youth has culminated in a series of yearly strikes by various public sector employees to include; teachers, public university lecturers, doctors and nurses all demanding for increased wages.

Seemingly unable to find a lasting solution to the recurring disputes without ruffling the feathers of those who supported the ruling regime during campaigns the regime has found solace and perhaps a solution from it’s arch political rival Raila Odinga.

The increased impetus in calling for a reduction in the prices of basic commodities by the opposition leader to include transport, food and rent (during the labor

President Uhuru Kenyatta and Opposition leader Raila Odinga. Photo Courtesy of Google

Vimal Shah. Manufacturing Investor based in the country

day celebrations two days ago) largely controlled by the regimes allies will be seen by many as the Presidents way of finding a long-lasting solution to the perennial salary problem while also shielding himself from backlash from the same influential individuals

EA Property Summit Uncovers Unwillingness to Build Homes For Poor

The coming to the end of the East Africa property investment Summit, a two day event  bringing together various industry players involved in management, regulation and provision of capital financing for development of housing properties across the East Africa region; an event held at the Radisson Blu Nairobi at the tail end of last month unearthed a number of peculiarities; most notable being the lack of a clear and acceptable definition of the term affordable housing.

At the event and speaking to the Whistling African

Senate-Roads-and-Transport-committee-members-Enoch-Wambua-Sylvia-Kasanga-Cleophas-Malala-and-Stewart-Madzayo. Photo courtesy of MediaMax Limited.

Sakina Hassanali Hass Consult Director at a Past Event. Photo Courtesy of Google

founder and Managing director of Sycum Solutions Limited and who also sits in the Kenya Senate Committee on Land, Environment and Natural resources of the 12 Parliament referred to a section of a report by Cytonn Research a subsidiary of Cytonn Investment Company which refers to affordable homes to be in the range between Ksh 800,000 and Ksh 1.1 Million, sentiments also echoed by Mr Gikonyo Gitonga Director of Axis real Estate. On the same question Hass Consult director Ms. Sakina Hassanali took to a different view alluding to a study in which Hass consult had conducted in which a huge percentage of those sampled considered housing units with price tags in the range of Ksh800,000 and Ksh1.1 million still unaffordable.

The Summit also brought to the fore questions of if indeed adequate public participation was conducted on the matter of affordable housing, the centrality of private sector players in the provision of basic amenities like housing and if such amenities would still remain reachable to all.