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Rose Kimotho quiting Kameme???
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Impunity
#1 Posted : Monday, August 31, 2009 6:18:00 AM
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Joined: 3/2/2009
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Location: Masada
I hurriedly saw this on today's heading in Business Daily that Rose Kimotho is 'letting go' the management of Kameme (read K24,Kameme FM and the rest....) to Kenyatta family!!!

I thought Rose Kimotho fully owned the media house?Is she selling the company to Kenyattas or what?


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luxel
#2 Posted : Monday, August 31, 2009 6:54:00 AM
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She took a loan from commercial bank of africa to start K24,she later realised she needed more money to breakeven especially after PEV. She could not raise the cash nor pay the loan. The bank moved in to liquidate,but the owners of CBA (kenyatta) saw an opportunity and decided to buy it themselves. NB. a media house is good for politics.
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Impunity
#3 Posted : Monday, August 31, 2009 7:48:00 AM
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@luxel.........u mean the Kenyattas owns the CBA?In full or a substancial share?And will we be seeing the end of K24?

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Mpenzi
#4 Posted : Monday, August 31, 2009 7:52:00 AM
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that is why Muhoho has always been a director on the CBA board.
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Litro
#5 Posted : Monday, August 31, 2009 8:20:00 AM
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Rose ceded control to the Kenyatta's sometimes back in March/April 2009.

Opportunity favours the prepared mind...........
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bwenyenye
#6 Posted : Monday, August 31, 2009 9:40:00 AM
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Joined: 5/24/2007
Posts: 1,805
This is one lady who has really worked hard for the face of media in kenya. It is sad if she ceding and more so if it is due to a bank loan! It must be very hard to thrive in business in Kenya. To me she is the face of media owners in Kenya and seemed to be different from the usuall suspects who own everything in Kenya( just about six families) I just wish she had embraced the whole of Kenya in her stations and not just Central Kenya.
I Think Therefore I Am
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jaribu
#7 Posted : Monday, August 31, 2009 9:51:00 AM
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Joined: 5/23/2007
Posts: 441
this is kenya,nothing seems the way it is. i'm sure there's something cooking about with the staff,KRA,banks or just good old politics. yet i must ask whether mrs kimotho was being sincere when she threw a bash to her staff last month and claimed she was in it for the long haul and that k24 would be rolling out countrywide next month. paying jeff koinange 1.5m per month was also a tall order for an upcoming and struggling media house. jeff is a close buddy of uhuru and they both went to the same school,st marys around the same time,so jeff must have played a crucial role in that take-over. so sad mostly in this case,some staff will lose out their jobs,never to be heard or seen again! and with the kenyattas owning the stations,they will be politicized never seen to be neutral again.

bY aNy MeAns NecEsSaRy.....
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Sasha
#8 Posted : Monday, August 31, 2009 9:53:00 AM
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The loan she took from CBA was huge while charging Kameme assets. She had projected to repay the loan using proceeds from advertising generated by K24. Unfortunately, her provisions were off the mark and the revenue from advertising was too low. Cue staff rationalisation and delays in payment of salaries. Ultimately, she has made a good decision after commissioning a due diligence. She couldn't run a business that couldn't sustain itself!

Immorality: The morality of those who are having a better time!
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Impunity
#9 Posted : Monday, August 31, 2009 10:25:00 AM
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Joined: 3/2/2009
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Location: Masada
@jaribu.........usijaribu kusema ni Mrs.Kimotho.Who told you so?She is a M/s. Kimotho.

And u mean Jeff takes home 1.5M?Thats a rip-off.He should get not more that Kes. 300K.


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