Formalizing the Informal, Matatu Private Placement

In Bankelele, formalizing the informal:

There was a small advert in the Nation this week for a private placement to raise Kshs 600 million ($7.5 million) as investments in the public service vehicle (PSV) transport business.The promoters, PSV Investments, say they have already investment in PSV’s commonly known as matatu’s through transport companies, savings & credit societies (SACCO’s), and individual owners. They are selling 6 million shares at 100 shillings each, with a minimum investment of 5,000 (~$62) for individuals and 100,000 (~$1,250) for institutions, and the Vice Chairman is Dickson Mbugua who’s often on TV defending the Matatu Industry as an official and a spokesman. It opened on May 17 and closes on July 3...[continue reading].Watch related video on Kenya's Matatu video