Thursday, July 20, 2006

Financial, Jobless and Yeah....

I was reading this post and wondered what is wrong with kenyan stock brokers.

Stock Brokers in Kenya give little information.
They are always in a hurry to finish with you.

I went to sell some shares yesterday and this is what i was shocked to learn

I was told
"call after three days to see if your shares have been sold"

In these days of CDS

And then
"You will be given your cheque 7 days after your shares are sold".

It takes bloody 7 days to draw a cheque??


I ask a really bogged down already broker

"why can't you deposit it in my account?

It will cost you 1000/=

Already i could see she really wanted out so i didnt bother asking her what is it about depositing cash cost 1000/= Ksh.

May i say that brokerage firm sijui Investment firm is FRANCIS DRUMMOND INVESTMENT BANK.

When i bought my shares i saw a myriad of charges that i couldn't understand. So when i originally thought i would end up with 500 shares, i ended up with 434. I mean i need brokerage education.

There are only 12 brokerage licences which requires an arm and leg to get one and thats why many brokers give crap customer services.

Then you keep wondering why we will remain forever poor. Attempts to investor for a small man like me are thwarted by all manner of customer service attendants.

I used to have a very good broker at the said firm called Chris. I don't know what happened, i think he was promoted.

Anyway too much.

ME, I SHIRO is a jobless woman. And all i can tell you that in Kenya, there are two types of people. Those who know someone and those who don't. I belong to the second group. I have been working for some time in a certain organization whose employees read who is who and who do you know and who is your father?! Unfortunately, when it came to permanent employment, this woman who knows nobody found her way out and left her position for somebody's relative at the certain organization.

I was reading an article Ababu Namwamba had written on Sunday Standard stating that Kenyans are afraid of coming back to Kenya because of ethnicity and patronage. And you have no idea just how deep rooted this is. If you are watching your gold fish stay where you are and don't bother feeling guilty working for NASA or whatever it is that feeds you. Your country has refused to address the question of tribalism and patronage. If your father's name does not sound familiar, you will be forever stuck in low end jobs back here.