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Fountain Enterprises Programme - FEP
Rank: Elder Joined: 2/8/2013 Posts: 4,068 Location: At Large.
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BGL wrote:I have the annual report for FY 2013. @BGL going thru this thread I note you were a great supporter but your enthusiasm waned along the way. What went wrong in your opinion?Or is it just unfulfilled expectations? I need to give my aunt feedback and maybe stop badmouthing FEP which am currently doing. Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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BGL wrote:I have the annual report for FY 2013. See, here people are arguing like in a fish market, without facts even some very respectful people in the blue section. Thanks Bgl, so it's heresay and malicious to say that the agm was held without annual statements.that is settled. Now what makes fep a scam? Has any one lost their money since they joined fep and how? What action have they taken? @Aemathenge what is your word to@ bigchick and other interested wazuans you seem to have given this topic a wide berth ? punda amecheka
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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........ I wrote off this investment a month ago.......... History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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BGL wrote:I have the annual report for FY 2013. Did they send it to you? Why are the reports not available for those who want to join in ama you get in by faith? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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newfarer wrote:BGL wrote:I have the annual report for FY 2013. See, here people are arguing like in a fish market, without facts even some very respectful people in the blue section. Thanks Bgl, so it's heresay and malicious to say that the agm was held without annual statements.that is settled. Now what makes fep a scam? Has any one lost their money since they joined fep and how? What action have they taken? @Aemathenge what is your word to@ bigchick and other interested wazuans you seem to have given this topic a wide berth ? @Newfarer, I am loath to comment or give information I cannot verify. Between 2008 and November 2012, I was an employee, a Branch Administrator for Kirinyaga Branch. I was a bad bad boy and they did the best thing under the circumstances which was relieve me of my duties. As a Branch Administrator, I had free access to anyone or any information and could therefore speak (Post on threads here) with total confidence. I cannot do that now. I have no access. I am, however, still a member of FEP Sacco Society Ltd. I receive my dividend every year and I currently have a loan. When I left, the group of companies was solid according to the plan and vision I had been given. As such, I am a spectator like everyone else.
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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newfarer wrote:murchr wrote:newfarer wrote:murchr wrote:newfarer wrote:Bigchick wrote:murchr wrote:Bigchick wrote:I went visiting my aunt and in the course of our talks she brought up the topic of FEP. Introducing me to it.
I told her I have heard about it but its said to be a scam.Appperently she has invested about 100k in it.
Someone please tell me exactly what the issues are so that I share with her.
Meanwhile she received her certificates yesturday and to her that is proof that all is well.
You may need to read the whole thread I have read the whole thread but it has nothing specific.It has the "If it walks like a duck......"cautious statements but nothing saying this is what is wrong. I have seen some of their investments like Kisima estate,their mobikash and hotel in Embu.That they are not yet making money does not mean they are a scam. NB.I wont invest in them though.I met one of their managers and was not impressed. Me too, can't see anything specific. This is unlike the wazua we normally get links. More of. Muchene than reality. Somebody give us real fact that fep is a scam. Has anyone here actually lost his money through fep and how did it happen, what action did he take? Couldn't we be actually giving them pubicity, ie free advertisement? At the end of every financial year, every legitimate business including a kiosk will show their financial statements - Balance sheet, and income statement. Even when they are making losses due to capital expenditure. Has your aunt received any of these since she joined? Kisima estate. The last time I heard that they were building a housing estate--that was in 2010 or there about...Have they sold any? Have you seen any house sold in Lukenya? What guarantee do you have about Tai housing? I read that they held an agm last year on this thread , they did it without annual accounts? Yes. BGL wrote:I managed to attend the FEP AGM at Hotel Suntec - SAGANA
The AGM business started 3hrs late and the CEO and Chairman read through their entire written report.
-Job Kihumba of STANDARD INVESTMENT BANK (SIB) will be responsible for the OTC market which will be operational by August 2014.
-A rights issue is on the works and 420million ordinary shares will be offered to investors via a PRIVATE private offer. SIB are the lead transaction advisers and are working on the information memorandum. If the existing shareholders cannot take up all the 420mn shares on offer, other shareholders will be INVITED to participate. To be eligible to participate you will first and foremost be a CHRISTIAN.
-All FEP shareholders will get shares in fountain DTM once the license is issued.... there will be another AGM to ratify the same.
-FEP shareholders should visit any FEP office 7 days post AGM to verify their details before the share certificates are printed or fill in some shareholder details forms available at the AGM venue
-The net profit arising from operations was 22.7mn from 16.9mn last year. However the total comprehensive income reported is 1.17bn as a result of value gain in investment property.
-Shareholder funds grew from 1.62bn to 3.71bn this year
-What made shareholders happy was the two bonus share for every share held. The annual report and financial statements were provided during the meeting which was an ambush as we did not have time to go through them. Likewise the articles of association which only the management knew about.
I will post the photos of the hotel in due course. Where did Bgl get these figures History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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BGL wrote:........ I wrote off this investment a month ago.......... Reasons being? punda amecheka
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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newfarer wrote:BGL wrote:........ I wrote off this investment a month ago.......... Reasons being? There comes a time when the story of bamboo trees and vitendawili is no longer VIABLE ............by now FEP bank should be the biggest bank in Kenya......as per the STUPID narrative. HECK! they even sacked by brother @aemathenge. History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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BGL wrote:newfarer wrote:BGL wrote:........ I wrote off this investment a month ago.......... Reasons being? There comes a time when the story of bamboo trees and vitendawili is no longer VIABLE ............by now FEP bank should be the biggest bank in Kenya......as per the STUPID narrative. HECK! they even sacked by brother @aemathenge. Well that story of biggest bank by 2016 was more of daydream and big talk and ill advised. If they can scale down their promises and instead exceed investors expectations I still can't see why they are a scam. A scam sells HOT air, they seem to have some products which can turn profitable. As for aemathenge, he has confessed that he was a bad boy, what that means, he knows better. punda amecheka
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Rank: Hello Joined: 7/29/2015 Posts: 5
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I thought 2015 was when the bank was to open and not to be the biggest bank?
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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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Kanpat wrote:I thought 2015 was when the bank was to open and not to be the biggest bank? Regardless we are past mid 2015, where are even the signs of the bank!!! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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Angelica _ann wrote:Kanpat wrote:I thought 2015 was when the bank was to open and not to be the biggest bank? Regardless we are past mid 2015, where are even the signs of the bank!!! Signs of a trapped defendant up here. whether starting middle or big where is the bank@kanpat Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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Boris Boyka wrote:Angelica _ann wrote:Kanpat wrote:I thought 2015 was when the bank was to open and not to be the biggest bank? Regardless we are past mid 2015, where are even the signs of the bank!!! Signs of a trapped defendant up here. whether starting middle or big where is the bank@kanpat I accepted and have moved on, hope there will never be such again. Diapora cry foul play FEPHowever, this has not been the case as most of the investors have relayed story after story on how they have been taken on a spin. Some have cited misrepresentation of facts to the point of being coerced to invest their money into nonexistent projects. Majority of them have not received their certificates for the shares they purchased in 2012 and title deeds for land procured several years ago. Many claim lack of responsibility within FEP leaving them regretting why they engaged. Some have also cited feedback from their friends and loved ones in Kenya on numerous mismanagement episodes within FEP
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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When I first read about FEP and their business spread,the first thing that came to mind was "a jack of all trades and a master of none"
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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Boris Boyka wrote:Angelica _ann wrote:Kanpat wrote:I thought 2015 was when the bank was to open and not to be the biggest bank? Regardless we are past mid 2015, where are even the signs of the bank!!! Signs of a trapped defendant up here. whether starting middle or big where is the bank@kanpat  @Boris Boyka.....be nice...  @Bigchick this is the list of questions diasporans have Listed Below is the feedback we are seeking: 1. Current audited financial report for 2014/2015 2. Updates on Lukenya properties. The cost value, number of plots sold and current market value 3. Names of investors were forwarded through our County Chairmen. When do we get share certificates for tier 2, Tier 3 and PPO? 4. Number of companies owned by FEP, how many are in operation and status of those out of operation 5. Percentage of ownership and any MOU for any existing partnerships 6. Updated PPO report, amount raised and what is the next plan of action? 7. What happened to FEP Bank and the 40% of founder shares allocated to banking according to CEO’s presentation. 8. When will FEP honor the leader’s remuneration package as outlined by the CEO in 2012? Some leaders have never been compensated for expenses incurred on travel, hotel reservation and other related cost. Does FEP have any plan to reimburse these expenses and how do they plan to do it in future? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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murchr wrote:Boris Boyka wrote:Angelica _ann wrote:Kanpat wrote:I thought 2015 was when the bank was to open and not to be the biggest bank? Regardless we are past mid 2015, where are even the signs of the bank!!! Signs of a trapped defendant up here. whether starting middle or big where is the bank@kanpat @Boris Boyka.....be nice... @Bigchick this is the list of questions diasporans have Listed Below is the feedback we are seeking: 1. Current audited financial report for 2014/2015 2. Updates on Lukenya properties. The cost value, number of plots sold and current market value 3. Names of investors were forwarded through our County Chairmen. When do we get share certificates for tier 2, Tier 3 and PPO? 4. Number of companies owned by FEP, how many are in operation and status of those out of operation 5. Percentage of ownership and any MOU for any existing partnerships 6. Updated PPO report, amount raised and what is the next plan of action? 7. What happened to FEP Bank and the 40% of founder shares allocated to banking according to CEO’s presentation. 8. When will FEP honor the leader’s remuneration package as outlined by the CEO in 2012? Some leaders have never been compensated for expenses incurred on travel, hotel reservation and other related cost. Does FEP have any plan to reimburse these expenses and how do they plan to do it in future? Its Good the Diaspora has woken up..... they should direct those questions to these senior officers of FEP and copy to the ministry of foreign affairs. Dr. Ronoh <ronoh.desk@fep-group.com>, CEO John Kithaka <jkithaka@fep-group.com>, Bernice Muya <bmuya@fep-group.com> History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Rank: Hello Joined: 7/29/2015 Posts: 5
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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Kanpat wrote:https://m.facebook.com/story.php?story_fbid=857013764376255&id=112365225507783&_ft_=top_level_post_id.857013764376255 That is quite informative, fep should make the updates more regular as it seems that the main complaint is investors being in the dark. Read that they are no longer raising capital, scamists don't say no to money. Does it mean that some guys are causing trouble in fep for selfish interests? punda amecheka
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Rank: Hello Joined: 7/29/2015 Posts: 5
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http://ksnmedia.com/2015...yan-shareholders-in-us/
As stated above once the OTC is operational any disgruntled investor is free to exit from FEP by selling their shares.
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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Kanpat wrote:http://ksnmedia.com/2015/08/fep-reacts-to-complaints-raised-by-kenyan-shareholders-in-us/
As stated above once the OTC is operational any disgruntled investor is free to exit from FEP by selling their shares. Did someone have to make noise on the social media for someone to do their job? Kwani there will be no day someone will just do the right thing. Meaning that if those guys in diaspora didn't say anything then people would still be in the dark. This mentalities are just wrong.all what the investors wanted to know is as follows Agm will be on ...... The money collected during ppo was invested.... The bank will be opened by ....... There were former employees who did......and we ... The dividends will be issued ...... The top ten shareholders are ....... Why was it so so difficult .did someone have to threaten to sue FEP through foreign ministry for someone to open up what they should have known December last year ???? Still the same FEP had a good idea but somewhere something happened that the vision was lost .but if they have refocused on their vision then well for them. But for me personally I'm done. Too much emotional burden in this bus
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