The usual Kenyan buzz is on, disagreements over the cabinet composition, ODM has remmembered it was opposed to the safaricom IPO..... But the best news is that banks are falling over themselves dishing out loans specifically for this IPO, Equity Bank is indeed offering 100% financing. Noteable is the fact the shares will act as collateral for the loan, however most banks are using the normal loan application requirements to process the loans applications.
This is a great oppurtunity for people to acquire an asset the loan way, especially if you are in employment or in a stable business.
It is worth noting however that the terms and condations of the loans are not very clear, issues include; the applicable interest rates, does the loan cover the total amount applied for or the value of shares allocated? Equity Bank has already indicated that the excess monies if any will go towards servicing the loan and that the applicant will not be handling any cash. None of the other banks have clarified this issues.
If all goes well, everybody (the banks, the investors) stand to make some money. If the banks give large amounts for the IPO,they will significantly contribute to the expected oversubscription.