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The Acorn Saga - Britam vs Cytonn
mv_ufanisi
#41 Posted : Friday, October 31, 2014 12:08:37 PM
Rank: Member

Joined: 1/15/2010
Posts: 625
The screws are starting to get tightened. By the end of this saga these guys might lose everything.
tinker
#42 Posted : Friday, October 31, 2014 12:42:26 PM
Rank: Member

Joined: 11/15/2010
Posts: 455
Location: Nairobi
muganda wrote:
tinker wrote:
Old Money vs New Money battle...


Wait, hold-up, I see the old money, 3.9bn of it. Where's the new money...

Old Money vs New Leverage
Old Money vs New Dealings
Old Money vs House of cards

And the talk of mediation, what mediation! If you've upset the funder, just return the money.


Speaking of - House of Cards Ft Frank J. Underwoods, I recommend it to Acorn Director's and I believe its a must watch for any
one who knows politics has its place in every field. meanwhile am sitting back and watching to see whether the end will justify the means.
....He who began a good work in you will carry it on to completion..
innairobi
#43 Posted : Friday, October 31, 2014 12:45:53 PM
Rank: Member

Joined: 9/2/2010
Posts: 845
Have my reservations on whether this 'fraud' as Britam describes it, actually took place. Britam could just be playing hardball. Still, it is not an impossible fraud to pull off because it would involve collusion of key decision makers.

Will be a difficult road ahead for the new outfit. Britam has more levers it can pull and a more resilient brand than the new guys i.e. can withstand this jolt on reputation. Britam also has a far larger network of associates and allies in Corporate Kenya so can make life hard even without going through the courts. Cyton could end up excluded by default from certain big deals.

Eventually, Cyton & Co. will concede and the matter will be settled out of court to their disadvantage.
All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
hisah
#44 Posted : Friday, October 31, 2014 12:54:34 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Golden handcuffs. Serious fraud. Unbelievable! Yet CMA is silent. Waiting to see how that 3.9B gap will be covered up in FY results. What are investors and clients to do with such serious fraud? I believe the fireworks are yet to begin...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
mkonomtupu
#45 Posted : Friday, October 31, 2014 1:40:06 PM
Rank: Veteran

Joined: 2/10/2010
Posts: 1,001
Location: River Road
Angelica _ann wrote:
What is Britam telling us about their policies, systems and risk management among 'other' issues.


When you see LLPs and off-shore corporations be afraid. If our CMA was serious they would be asking tough questions. For this share and its sister Centum the issue is all about risk management.

These are the kind of buses that drop off the cliff. Know when to walk away, know when to run
VituVingiSana
#46 Posted : Friday, October 31, 2014 7:49:41 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Dande-Kiraithe need some powerful godfathers. The Mwangi-Wairegi-Mbaru axis will not rest until these interlopers are punished. Dande should not have bitten the hand that fed him.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
maka
#47 Posted : Friday, October 31, 2014 8:13:24 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
VituVingiSana wrote:
Dande-Kiraithe need some powerful godfathers. The Mwangi-Wairegi-Mbaru axis will not rest until these interlopers are punished. Dance should not have bitten the hand that fed him.

Word...
possunt quia posse videntur
Kausha
#48 Posted : Friday, October 31, 2014 9:06:52 PM
Rank: Member

Joined: 2/8/2007
Posts: 808
When our media were being paid to paint a nice picture for the protagonists it was laughable. Here we need more popcorn and coke. It appears the flick has just started.
sparkly
#49 Posted : Saturday, November 01, 2014 8:17:06 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
VituVingiSana wrote:
Dande-Kiraithe need some powerful godfathers. The Mwangi-Wairegi-Mbaru axis will not rest until these interlopers are punished. Dande should not have bitten the hand that fed him.


Sad that these young guys are being punished for being ambitious and entrepreneural. But that is the nature of corporate warfare. I hope they have some counter they can pull to keep the old men quiet re Kiereini and Njonjo.
Life is short. Live passionately.
Kausha
#50 Posted : Saturday, November 01, 2014 8:58:08 AM
Rank: Member

Joined: 2/8/2007
Posts: 808
@sparkly why are you assuming they are being punished for ambition and business acumen. There is a case in court. May be we listen to the case first. The accusations are quite huge to constitute a casual witch hunt i think.

Lets see whether CMA or IRA will show up if they dont and judge listens and rules against Britam we can conclude it was witch hunting.
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