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Michael Kimani @pesa_africa
, 3 tweets, 1 min read Read on Twitter
"Kenyans are redirecting their savings towards other investment opportunities such as betting as opposed to capital markets investments that are more long-term."
"Increased competition from other sectors is one of the factors contributing to low uptake of capital markets products and services according to the Capital Markets Authority’s (CMA) "
Competition from Other Sectors Contributing to Low Uptake of Markets Products – CMA kenyanwallstreet.com/competition-fr…
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Looking at Kenya's Capital market transition from paper share certificates to > immobilized electronic record form to > de-materialized form housed by the Central Depository Service Corporation (CDSC) has some lesson for transition physical records and assets to blockchain 1/
First here is a list of Financial Intermediaries in Kenya's Capital Markets /2
Second, here is a list of participants involved in the Clearance and Settlement of Securities in Kenya 3/
Read 20 tweets
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People forget that the next generation of mama mbogas and boda boda people and taxi drivers and the whole of informal sector will be educated upto college/university level.

They'll be digital natives.
They'll be exposed to global trends 1/
The early signs of this shift are evident now

Young graduates leaving school and straight into informal sector

Formal employees quitting 9-5 jobs to go into biashara

For example Met a lady who quit her job to sell bags from mitumba via social media. 2/
In the near future matatu touts will be educated, on the same platforms as everyone else (fb, whatsapp, mobile phone, mpesa, Instagram)

Nairobi's street hawkers will be educated too and on the same platforms as you and I

Why does this matter ? /3
Read 15 tweets
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Here is a useful stack to think about blockchain/DLT/ "whatever you want to call it"

layer 1 - 4 : all the technical stuff for devs
layer 5: governance
layer 6 & 7 : what average person calls "use cases"

source: Financial Cryptography in 7 Layers by Ian Grigg 1998 1/
Right no, a lot of the activity is at the bottom layers 1 - 4

these are the chain wars POW vs POS vs DPOS vs "whatever else"
these are the "private" vs "public" / permissioned vs permissionless
these are the Bitcoin vs Bitcoin cash/ Ethereum vs EOS

technical jargon area 2/
Right now layer 5 is becoming a hot topic

How do we resolve issues that have nothing to do with logic? eg threat of theft or abuse exists from parties who are trusted to manage the system.? This problem can be overcome with a wide variety of techniques ie governance /3
Read 7 tweets

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Thread: Key Elements of the US National Defense Strategy

1. The Trump Administration published its US National Defense Strategy in 2018. It represents a real shift from the Obama years.
2. Most who follow national security issues are probably familiar with it, but a lot of folks are likely not even aware that this document exists. The below are selected highlights to convey the gist of the strategy. As citizens, we should all be as informed & aware as possible.
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I, like many that work in the financial markets, had always followed $TSLA from afar over the years. It was always pretty obvious that it was financially unsustainable as a business, but as a religion it never made sense to put my own skin in the game to go short.
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Time to watch the @CommonsTrans's oral evidence session on rail infrastructure investment... Featuring @RAIL, Mick Lynch (@RMTunion), Tammy Samuel (@SHLegal) and Prof Andrew Smith (@ITSLeeds).

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We are dying younger, in part, because of deliberate policy choices made over decades:
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Those choices increasingly set us apart in the world. #SDoH
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because I am involved in mankind.
And therefore never send to know for whom the bell tolls; it tolls for thee.”
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