I took a small break after the "Blog warming" a fortnight ago. Had to deal with the mundane issues of bread and butter.
To cut the long story short I had taken a short break...but while I was away, a news item caught my attention. The Central Bank of Kenya (CBK) made rather a peculiar announcement. Sounds familiar? Yes! Mr. Michael Joseph, the Safaricom CEO, once said that Kenyans have peculiar habits! now back to the CBK story, the bank came out fighting in defence of 50 cent coin that seems to be the only coin available in the major Kenyan supermarkets for loose change. But wait a minute! Why defend such a value piece of coin? The problem is that your local kiosk operator has been declining to accept the coin owing to its dismal value. But CBK says the coin is valid and perfectly so, a legal tender.
prior to the news item, I had been thinking what to do with almost a bagful of coins in my wardrobe where I throw them but forget to walk around with as my local street vendor and shopkeeper see no value in them.
I know many Kenyans are in a similar predicament. On average, we have, let us say about Shillings 20 ($.30) of the coins-rejected by retail traders in Kenya. Supposing only 10 million Kenyans have the coins then that loosely translates to a cool Shillings 10millions (roughly $161,000) gathering dust somewhere in our houses!
I am actually contemplating resigning from my full time job and start a life long hobby of collecting 50 cents from Kenyans who have nowhere to spend them given our busy schedule that leaves us with no time to return them to where they belong-the supermarkets!
Reader, if you read this and you understand that I mean business then send me all your 50 cents...ostensibly for my money recycling (read minting) project ha!
Give me your views on what we could do with the excess 50 cents in circulation that have stuck in our houses. Perhaps we could launch a club-Kenyan Friends of 50 Cents Club-NO RELATIONS with 50 Cents the musician.
Working on first Savvy Kenyan profile. Watch this space.
Have a nice time.
Sunday, May 18, 2008
Can 50 Cents Make you Rich?
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3 Comments:
what about making an arrangement with a bank to collect the coins on their behalf for a commission? all you have to do is set up drop off points in as many areas as you can and sit back!
That is a wonderful idea. Now let us think of good drop off points. Again as part of my Corporate Social Responsility, I propose part of the monies collected could be offered to assist the resettlement of Internally Displaced People in Kenya and possibly Zimbabwe following the post-election crises in the two couontries!
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