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The Acorn Saga - Britam vs Cytonn
Kausha
#101 Posted : Friday, November 07, 2014 9:29:40 PM
Rank: Member

Joined: 2/8/2007
Posts: 808
Dooh do? Maji kwisha zidi unga hapa afrosinema naona. Naskia uvumi eti jamaa wala sima na haragwe leo. Is that possible?
VituVingiSana
#102 Posted : Friday, November 07, 2014 9:57:46 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
VituVingiSana wrote:
And another wrinkle in the saga. I have a feeling Britam knew that using Ngatia (in front on Onyocha) would benefit them! Coz Ngatia can talk to Onyocha on the basis of a confidential client-lawyer relationship... And that can always be used as a cover to discuss other things!

Here is the link to this murky saga http://www.businessdaily...2/-/147k0i6/-/index.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
muganda
#103 Posted : Sunday, November 09, 2014 7:38:45 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
A little clearer the saga (more insights) http://www.nation.co.ke/busines...6/-/8yrggxz/-/index.html

...but with Mbaru and Wairegi on Acorn board, that money can't get lost. Acorn have a right to keep their company, just as BritamEA has a right to get their 3.2bn

Things might change but as they stand the real foolhardy move was Acorn's decision to work with the bunch from Cyton after they scorned their employer - gosh!

VituVingiSana
#104 Posted : Sunday, November 09, 2014 11:24:13 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Nasty and nastier.

http://www.businessdaily.../-/w78hcgz/-/index.html

Police even arrested some of the Cyton chaps!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mv_ufanisi
#105 Posted : Monday, November 10, 2014 10:47:34 AM
Rank: Member

Joined: 1/15/2010
Posts: 625
It's like in the lion pride when some adolescent lions try to challenge the pride king by making advances on the lionesses. Punishment is quick and brutal. They've already spent a night in prison for this alas!
grolut
#106 Posted : Monday, November 10, 2014 12:18:58 PM
Rank: Member

Joined: 9/2/2010
Posts: 563
Location: Embakasi
This thing should be turned into a TV show, gripping story!
In a place where thought is abandoned, freedom can become a curse.
hisah
#107 Posted : Monday, November 10, 2014 12:30:20 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Commingled funds. Bookmark that term. It'll be relevant in future when the drama ends.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
Jaina
#108 Posted : Monday, November 10, 2014 2:09:00 PM
Rank: Member

Joined: 5/13/2008
Posts: 558
muganda wrote:
A little clearer the saga (more insights) http://www.nation.co.ke/busines...6/-/8yrggxz/-/index.html

...but with Mbaru and Wairegi on Acorn board, that money can't get lost. Acorn have a right to keep their company, just as BritamEA has a right to get their 3.2bn

Things might change but as they stand the real foolhardy move was Acorn's decision to work with the bunch from Cyton after they scorned their employer - gosh!



SY-tan guys had a strategy, but their execution was completely bonkers.

They knew the shareholding structure of Ar-CON, Their "former" employer had stake in it, but were very greedy to anticipate the fallout.

It will be an interesting and brutal experience for them. I hope they had another client in mind. At the rate things are going,.... things may get Sy-tanic
hisah
#109 Posted : Wednesday, November 12, 2014 6:27:58 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
The daily drama... So entertaining like Enron...

http://www.businessdaily...1/-/b63aly/-/index.html
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
Mart_Consult
#110 Posted : Wednesday, November 12, 2014 8:46:27 AM
Rank: Member

Joined: 11/7/2013
Posts: 127
Location: Nairobi, Kenya
If you transfer funds before the paperwork is complete, that is, gets through all those levels of management bureaucracy because of urgent matters financial, should that be considered as Fraud?

When 1-1.6 Bn of the 3.9 Bn is moved in a day until the CEO of the receiving bank gets involved due to the sheer transcation size, is that not a sign that a pressing deal had to be concluded? Hot/ investment grade real estate (or purchase of it- is no joke)

When Britam are out to arm-twist for a bigger share of the kid-on-the-block's lunch, is that not corporate bullying?

When the Bully cannot get what it wants, it hits the face and damages the image (reputation in this case) of the Kid's new bestie (Cytonn)...

Now the bestie can't approach the beauties (rather the beautiful dollars) that cometh from the Diaspora...not without plastic surgery (in this case reputation re-establishment)...it shall be received with suspicion galore otherwise.

Never take the happenings in the corporate world at face value.
I went into the (Ferry) industry knowing the same thing I knew with all other businesses I went into- Nothing. Then I built it from there. - Sheldon Adelson (Titans at the Table- Giants of Macau)
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