Safaricom are have just earned the title as the most profitable company in East Africa - I'm almost the last one to get such information (I don't think it matters).
I'm happy for the CEO - is that not the person who we associate the success with? But it is also good for Kenya I mean to be assoc5ated with a success story - I've been around long enough to know that.
The profit is said to like the combined performance of KQ, EABL and Barclays - this is huge.
Another interesting piece of news I came across was that KCB was laying off 70 employees part of its restructuring plan. I'm curious just what is the point is just the new CEO stamping his authority?
He could have more emphatic (or adventurous) or bold - not just for the sake of it. I thought that's the way to go until I saw it was mainly among the security, courier and printing!
What's the plan here? Saving on printing paper and number of people walking around the office? Was it cost based? If it was I'm lost here. Again the fact that most of this stories I get them from 3rd party sources I cannot be too critical or otherwise.
One of the my favourite lecturers on the topic of restructuring used to say if you are brought in to fix a mess you have to show that you are up to the task especially to the group you find there. They know they may be the reason why the company is underperforming - just pick anyone of them when others are watching and sack them on the spot.
That's extreme.
It has been suggested Sony went for a Westerner (Welsh) to spearhead it's restructuring program because they are not shy of encouraging staff to leave. I wonder how much they are saving by laying off considering that they will be trained. Business can be cold - it is not easy to just make someone redundant but unfortunately we will be the same people calling for his head if there is any hint of underperformance.
So Martin as Joseph said sometime ago - 'Whatever can go wring, will go wrong (and at the worst possible time)'
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