The much awaited Safaricom IPO is here at last: the going has been ridden with many challenges - legal as well as investor confidence. But I believe, the Minister for Finance, can at last heave a sigh of relief and say 'It is done man!'
We all accept, including myself, that even now the IPO is not correctly timed; bearing in mind that Nyaga Stockbrokers are under statutory management - but when might have been the correct time to bring this to the market? An ideal time? I don't think that this exists in the investment world: every investment opportunity has its risks which an investor will have to bear before you sink you money into it.
The question right now is: what is going to be the effect of this IPO on the capital markets in Kenya and the whole of the East African Community's economies? As with the Kengen IPO where some Kenyans emerged millionaires, I hope that also come 9th June (when the Safaricom shares start trading at the NSE) some Kenyans and East Africans will laugh all the way to the bank.
I hope that the mood, the confidence and the stability is maintained so that we can rope in more investors to the NSE and to Kenya so that our lives can improve for the better. These are the three pillars on which investors can troop to a country to sink their investment.
But remember in all this, God reigns supreme and there is nothing we can do without His help and assistance: remember to thank Him for the night in the morning and to thank Him in the evening for the day and surely He'll not disappoint you.
See you after 9th June 2008 and see how much you have made.