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Feb 19, 2022 โ€ข 9 tweets โ€ข 7 min read โ€ข Read on X
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This week, Robert Ochieng, Abojani Investment [@TheAbojani]โ€™s CEO, shares the best content he consumed.

He is an ex-banker who traded his Head of IT in banking to found the startup that has helped over 5,000 Africans get started on Investing.

Enjoy!
1. Psychology of Money [Book]

โ€œSpending money to show people how much you have is the fastest way to have less moneyโ€

โ€œControlling your time is the highest dividend money paysโ€

โ€œMoneyโ€™s greatest intrinsic value - its ability to give you control over your timeโ€

[@morganhousel]
2. The Joy of Accounting [Book]

Finance has 5 key elements:

Assets- Valuable things in a business
Liabilities- Obligations to creditors
Equity- Obligations to owners
Revenue- Value generating activities
Expenses- Value sacrificing activities

[@peterframpton + @markrobilliard]
3. The Story of Content: Rise of the New Marketing [Docu]

โ€œTech has changed the game. Consumers can ignore advertising and irrelevant content at will. To break through the clutter, brands need to tell remarkable stories worth listening to.โ€

[@CMIContent]
4. The Simple Path to Wealth [Book]

This book provides a clear way to achieve financial independence through investing in index funds.

Collins maintains that money is the โ€œsingle most powerful toolโ€ and shows you exactly how to use it to grow your wealth.

[@JLCollinsNH]
5. The Richest Man in Babylon [Book]

A classic work on financial planning and personal wealth that uses Babylonian parables to teach financial wisdom.

It offers lessons on basics such as saving, living within your means, and making your money work for you.

[George S. Clason]
6. Statement on Assassination of Martin Luther King, Jr. [Speech]

โ€œWe can do well in this country. We will have difficult times; we've had difficult times in the past; we will have difficult times in the future.โ€

[@JFKLibrary]
jfklibrary.org/learn/about-jfโ€ฆ
7. One Up on Wall Street [Book]

In this book, investing legend Peter Lynch lays out an approach with which novice investors could beat Wall Street professionals.

โ€œBuy what you knowโ€

โ€œUse your advantage as an individualโ€

[Peter Lynch + John Rothchild]
Thanks Robert and @TheAbojani for this week's compilation.

What interesting articles/podcasts/books/shows did you check out this week?

cc: @DollyOgutu @ChiboliS @WillisOwiti @AmbokoJH @jamessmat @MakoriGeorge_ @nderi_j @tonimugo @bankelele @mbuguanjihia @wazua @wnyakera

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More from @MwangoCapital

Oct 15
KETRACO [@KETRACO1] has taken 3 pages in the Star Newspaper to give more details on the Adani Energy deal.

Here is a thread with a few key points we noted from the statement. Image
@MativoMJohn @arnoldi254 @kinjeketile @Jasiri_MAR @DollyOgutu @lindahoguttu @RichardOnyonka_ 1. Background:

โ€”The Transmission Master Plan (TMP) projects the need for an additional 9,600 km of transmission lines and a $5.2B investment by 2042 to support industrial growth and electrification.
โ€”KETRACO is exploring Public-Private Partnerships to bridge the funding gap Image
2. Why PPPs?

โ€”KETRACO projects have historically been financed through loans from development partners like the World Bank, AfDB, JICA, and Exim banks.
โ€”The next set of funding from these partners is estimated to be available after the financial year 2028/2029. Image
Read 12 tweets
May 11
The latest Finance Bill proposes several key changes to Kenya's tax laws.

Here is a thread of a few things we picked:๐Ÿงต

[Corrections welcome] Image
@Nikhil_Hira @mwaniki_joseph @wakili_dennis @ill_dduor @coldtusker @Brianmbunde @janetmachuka_ @arnoldi254 @mmnjug @Theo_mwangi 1๏ธโƒฃ Finance Bill 2024 introduces the Motor Vehicle Tax:

๐Ÿ’ฐ The tax rate is set at 2.5% of the vehicle's value

๐Ÿ”ด Minimum tax: KES 5k. Maximum tax: KES 100k

โœ๏ธCalculation based on make, model, engine capacity, and year of manufacture.

Image
Image
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2๏ธโƒฃ Withholding Tax:

The bill introduces withholding tax on goods supplied to public entities at 3% for resident persons and 5% for non-residents.
Image
Image
Read 21 tweets
Apr 16
We compiled a thread on SACCO's FY 23 Results that we have received so far.

Here is the thread: Image
@cheruiyotkb @the_acemt @moneyacademyKE @nderi_j @RonnyChokaa @xysist @wiseshilling @StellarSwakei @tyrus_ 1. Nation DT Sacco[@NationDTSacco]:

โ€”Total Assets: +17.7% to 3.5B
โ€”Net Income: +8.5% to 235M
โ€”PAT: +3.8% to 116M
โ€”Dividend rate on deposits: 20%
โ€”Interest rate on member deposits: 11% Image
2. Magereza DT Sacco:

โ€”Total Assets: +12.7% to 7.9B
โ€”Net Income: +33.4% to 606M
โ€”PAT: +53.9% to 129M
โ€”Dividend rate on share capital: 10%
โ€”Interest rate on member deposits: 6% Image
Read 21 tweets
Apr 5
10 Key Takeaways from the CBK Post-MPC Briefing by the Governor.

1. CBK is keen on the separation of Safaricom & M-Pesa:

"One of the factors that has been delaying this..is the tax liability which is fairly significant in the order of at least KES 75B & what to do with it"
2. There has been a sharp rise in remittances to Kenya this year:

"If one were to compare the first two months of 2024 (Jan & Feb 2024), we see remittances for those two months compared to the two months in 2023 have increased by more than 20%"
3. There was a slowdown in growth in credit to the private sector in Feb 2024 from 13.8% to 10.3%

"A certain amount of private sector loans is denominated in dollars & therefore, when the exchange rate appreciated the level of credit to the private sector did decline"
Read 10 tweets
Jan 7
We selected the top #MwangoMemes from 2023 for you to enjoy!

1. The Kenya shilling closed 2023 at KES ~157 against the dollar.

Earlier in the year the President had promised that it would be trading at around 115 to 120 in a few months.

#MwangoMemes Image
@coldtusker @OchiengJasper @Brianmbunde @Bebi_16 @swabrah @KenyansNoContxt @Dicksonmagecha @MugambiNandi @alexmwanzo @InvAnalystKe 2. Kenya Power [ @KenyaPower] sought to enter the internet business.

It identified some 93 hotspots in Nairobi & Mombasa where it will connect with high-speed internet through 1,331.68 km of overhead fiber optic cables in phase 1 of its data business.

#MwangoMemes Image
3. There was a proposal to make Kenyans working abroad make mandatory contributions to a new Fund.

Every migrant worker would have to register as a member of the fund before departing the country.

#MwangoMemes Image
Read 25 tweets
Dec 24, 2023
๐“๐ก๐ข๐ฌ ๐–๐ž๐ž๐ค'๐ฌ ๐“๐จ๐ฉ ๐๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ ๐๐ž๐ฐ๐ฌ ๐ข๐ง ๐Œ๐ž๐ฆ๐ž๐ฌ:

1. Kenya's backlog of incomplete projects reaches KES 1.3 T, sparking calls for a halt on new government projects until existing ones are completed

#MwangoMemes Image
@MihrThakar @KenyansNoContxt @PesaWall @alexmwanzo @swabrah @NguliMT @MwangiMaina_ @Brianmbunde @arnoldi254 @DollyOgutu 2. Taxpayers are facing a new burden as President Ruto's administration plans to secure an additional KES 362B to fund his second full-year budget, set to surpass the KES 4T mark for the first time.

More debt on the way:

#MwangoMemes Image
3. Emergency loans the Treasury has tapped directly from CBK [ @CBKKenya] have hit a historical record KES 91.13 B.

According to CBK data, GoKโ€™s overdraft has grown from KES 61.12 B at the end of July to KES 88.33B on December 1.
#MwangoMemes Image
Read 20 tweets

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