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Nakumatt: Another ailing Kenyan company
Rank: Elder Joined: 6/23/2009 Posts: 14,322 Location: nairobi
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Juojo wrote:Walked into Nakumatt Mega and could literally smell the stench of death.The shelves were empty. The look on the faces of the few employees hanging around discussing in small groups was heartbreaking
I visited it too, just yesterday and it was a shell.. Luckily, Tuskys have today put forward a request for takeover.. Hope that the same is accepted COOP, IMH, KEGN, KQ, MTNU
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Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
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obiero wrote:Juojo wrote:Walked into Nakumatt Mega and could literally smell the stench of death.The shelves were empty. The look on the faces of the few employees hanging around discussing in small groups was heartbreaking
I visited it too, just yesterday and it was a shell.. Luckily, Tuskys have today put forward a request for takeover.. Hope that the same is accepted Obiero link Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Received on Whatsapp yesterday: Breakthrough with Nakumatt. They've just signed a merger with Tuskeys and management will be done by Tuskeys. The Nakumatt family will step down and pledge their shares to the financiers for a period of six years. More details will be in the press tomorrow, somebody just got a call from the CEOBusiness opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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KulaRaha wrote:Received on Whatsapp yesterday:
Breakthrough with Nakumatt. They've just signed a merger with Tuskeys and management will be done by Tuskeys. The Nakumatt family will step down and pledge their shares to the financiers for a period of six years. More details will be in the press tomorrow, somebody just got a call from the CEO The challenge with Tuskys is weak governance ( remember recently when the grandchildren stormed the HQ and kicked off the MD) and they may not have a solid financial base to carry Nakumatt and may therefore not put in the cash required "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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My question is, if you are a supplier, and you have money stuck in Nakumatt, would you increase your exposure with a Tusky's guarantee, knowing full well you probably will never be repaid what Nakumatt originally owes? Business opportunities are like buses,there's always another one coming
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Rank: Veteran Joined: 8/10/2014 Posts: 992 Location: Kenya
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KulaRaha wrote:My question is, if you are a supplier, and you have money stuck in Nakumatt, would you increase your exposure with a Tusky's guarantee, knowing full well you probably will never be repaid what Nakumatt originally owes? Hard decision. If you avoid and your competitor takes your place and things go well, you will regret. If you go ahead and things get messed up, you are in trouble once again
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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watesh wrote:KulaRaha wrote:My question is, if you are a supplier, and you have money stuck in Nakumatt, would you increase your exposure with a Tusky's guarantee, knowing full well you probably will never be repaid what Nakumatt originally owes? Hard decision. If you avoid and your competitor takes your place and things go well, you will regret. If you go ahead and things get messed up, you are in trouble once again But once you restart supplying, you are accepting that whatever they owe you is gone! Business opportunities are like buses,there's always another one coming
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Rank: Chief Joined: 5/9/2007 Posts: 13,095
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Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
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Tuskys finances is co-managed by KCB. They can't open any additional branch and appoint a CEO without KCB approval. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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TBH, this all sounds like another Nakumatt con job.... Business opportunities are like buses,there's always another one coming
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Nakumatt: Another ailing Kenyan company
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