In Kenya there are many 'clubs' that are often deemed as only for members who have paid the joining fee. These 'clubs' are widespread and any new member intending to join must adhere to the strict guidelines and stringent rules set by those already with membership. These rules sometimes are inhibitions (choreographed stumbling blocks) meant to hinder any jokers from joining out of whims and not with serious consideration and well thought out intention.
Welcome to Kenya a place of exclusive clubs!
From sports facilities including golf clubs, tennis courts, swimming pools, gyms to night clubs and clandestine groups with 'Strictly Members Only' signs clearly imprinted in large bold letters at their entrance points, these exclusives places abound and are places arousing curiosity amongst the outsiders who would wish to have a peek at the goings-on in the inner circles of the clubs.
Talk about Investment groups and they have also become exclusively members only and sometimes a close politically correctness and patronage is an added advantage to the grouping. Remember Trancentury Group and the associated cliques. Its membership was started a few years ago and with right investment decisions the company have managed to amass alot of resources. Thanks to its closeness to the political elite, the company is now so exclusive and any new member is at the mercy of older members after paying hefty joining fees.
The sons and daughters of the Trancentury elite are now putting their best foot forward and have hit the road with their Baraka Ltd, another investment group fashioned in the style of Trancentury and upping their stakes in the investment arena.
Baraka Ltd (according to reliable source) is a new investment group consisting of politically connected young upcomming business entrepreneurs (mainly sons and daughters of the Trancentury elite) running their own successdul business ventures and possessing the requisite skills and academic papers to spruce up their investment endceavors and what more do they need. The sky is the limit!
Nairobi Stock Exchange:
The Nairobi Stock Exchange has also become an exclusive club with a few wealthy persons allegedly running the shows here. Do not forget that having the coveted seat at the NSE is also a subject of political maneuvres and off-the-cuff tactics.
Talking about the NSE, now Renaissance Capital (K) Limited moved a step closer to securing a stockbroker’s license when it won the tender for the purchase of the coveted seat on the Nairobi Stock Exchange tha fell vacant with the unprecedented collapse of Francis Thuo and Partner. The brokerage firm's wooes began with the sudden death of its main proprietor, Francis Thou.
Renaissance Capital bid was the second priced at Kshs 251 Million to Old Mutual Investment Management Services hefty price Sh452 million.
Now Renaissance Capital, Russia's leading Investment Bank, is now ushered into one of the most exclusive clubs—the 18-member NSE.
Turning the Heat on Financial Markets:
The Renaissance Group is a leading private investment bank operating mainly in Russia and the Commonwealth of Independent States (CIS). Renaissance Capital, which specialises in investing in high opportunity emerging markets, is estimated to have a market value of between $7 billion to $10 billion (over Sh700 billion) is set to turn the heat on local financial market players as it acquires more regulatory licenses to operate other services.
NIC Bank Capital had submitted a Sh180 million bid for the seat and was third.
As a matter of fact 2007 is an electioneering year and with several individual declaring their intetions to vie for the various seats, it is now emerging that the parliamentary seat is another coveted place that has become the preserve of the rich. With billions likely to be poured to 'shake every corner of the republic' it goes without saying that the monied will carry the day as the electorate blinded by small perks and handouts will rush to vote in their 'cherished leader' to join exclusive club of 222 members ( thanks to the rejection of the women bill and the constituencies bill that would have seen the number increase by 50- Nominated women and 40 new constituencies) with fat pockets, hefty salaries and substantial allowances to top it up.
Welcome to the club;
STRICTLY MEMBERS ONLY
and have a members day, wont you?