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Nakumatt: Another ailing Kenyan company
Rank: Member Joined: 2/20/2015 Posts: 467 Location: Nairobi
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The Competition Authority should protect Tuskys from itself. current market share of Nakumatt doesn't necessitate Tuskys going to CAK.
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Rank: Veteran Joined: 8/16/2009 Posts: 994
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kawi254 wrote:The Competition Authority should protect Tuskys from itself. current market share of Nakumatt doesn't necessitate Tuskys going to CAK. If Tuskys fancies Nakumatt as much they may as well die together. Reminds me of Shakespeare's Romeo and Juliet. Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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Gatheuzi wrote:kawi254 wrote:The Competition Authority should protect Tuskys from itself. current market share of Nakumatt doesn't necessitate Tuskys going to CAK. If Tuskys fancies Nakumatt as much they may as well die together. Reminds me of Shakespeare's Romeo and Juliet. A toxic love affair
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Ericsson wrote:http://kenyanwallstreet.com/atul-shah-family-set-cede-51-tuskys-merger-approved
Owners of Nakumatt Holdings will cede 51% stake in the company if the deal to merge with Tuskys Supermarkets is approved by the Competition Authority of Kenya, as per the bankruptcy proceedings at the high court on Friday 13th October 2017. Bizarre deal to say the least. What is tuskys getting out of this arrangement? The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Someone is laundering something here... Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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KulaRaha wrote:Someone is laundering something here...
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Rank: Member Joined: 10/6/2009 Posts: 587
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muganda wrote:KulaRaha wrote:Someone is laundering something here... The connection is finally made...Usa Vinya fellow being a shareholder in Nakumatt and the constant "capital" injection from U.V Pharmaceuticals...
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Rank: Member Joined: 10/6/2015 Posts: 249 Location: Nairobi
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Wakwende kabisa.... http://www.businessdaily...45394-1xnbqrz/index.htmlNever lose your position in a bull market,BTFD.
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Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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Meanwhile, the feisty online competitor is offering its business associates collateral-free loans..... Copy and Paste:Quote:E-commerce Platform Jumia intends to offer discounts of up to 80 per cent on selected products during this year’s Black Friday expected to kick off next month.
The event, slotted for November 13 to December 13, is expected to have more than 500,000 deals across 1,000 brands.
While at it, the online retailer has also rolled out a lending programme for small and medium-size business enterprises.
“Through this programme, we are offering SMEs new ways to access collateral-free loans quickly.
This allows them to expand their businesses, and fills a void in the market, given the restrictions banks face today,” Jumia managing director Chappatte said.
SMEs on Jumia will be able to access credit at favourable terms, with interest rates from as low as 12 per cent per year.
Over 4,000 sellers across Kenya are gearing up to take advantage of the programme. Source Link:
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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http://www.businessdaily...61774-broevw/index.html
South African retail giant Shoprite is eyeing the gap left by a faltering Nakumatt, the largest supermarket chain in Kenya, to make its debut in the country. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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19 landlords sue Nakumatt for Sh600m rent arrears http://www.businessdaily...1510-ax1wc0z/index.html
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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 Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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"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: 12/7/2012 Posts: 11,908
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Wakora kabisa when they know focus is at BOMAS & presidential results!!!!! 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: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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There was no other option
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 9/13/2006 Posts: 123
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Still trying to understand what exactly nakumatt strategy is. Someone enlighten me please.
1. Why would tuskys want to take 51% of Nakumatt. What would they gain apart from 51% of a 40 billion of debt? Surely that's like throwing good money after bad? No other investor is willing to to touch them so why Tuskys?
2. Wouldn't it be easier for the owners of Nakumatt to be declared insolvent and wound up? Why are they intent on dragging this charade on? Nakumatt has lost credibility so it's brand is worthless now. Even if things were good and they made 1 billion profit every year, it will take decades to pay its creditors back!
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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pops wrote:Still trying to understand what exactly nakumatt strategy is. Someone enlighten me please.
1. Why would tuskys want to take 51% of Nakumatt. What would they gain apart from 51% of a 40 billion of debt? Surely that's like throwing good money after bad? No other investor is willing to to touch them so why Tuskys?
2. Wouldn't it be easier for the owners of Nakumatt to be declared insolvent and wound up? Why are they intent on dragging this charade on? Nakumatt has lost credibility so it's brand is worthless now. Even if things were good and they made 1 billion profit every year, it will take decades to pay its creditors back! Just wait;with time you shall see if that strategy worked. Just know there is more in the background than what you are seeing. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 8/4/2008 Posts: 2,849 Location: Rupi
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I hadn't been to Nakumatt since it started "falling". On Friday last week I went to Nakumatt Ukay, I was looking for some very nice sweet corn that they used to sell. There's almost nothing. Workers are idling and chatting away. Really vindu vichenjanga Lord, thank you!
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Strategy is to go into administration. That halts them from paying old debts. Then try and restore the business without that burden. Screw the banks and the suppliers. Banks can claim administration so no need to provide (or cook provisions). Suppliers will write off as cost of doing business. Accept and move on. Its the Kenyan way... Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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KulaRaha wrote:Strategy is to go into administration. That halts them from paying old debts. Then try and restore the business without that burden.
Screw the banks and the suppliers. Banks can claim administration so no need to provide (or cook provisions). Suppliers will write off as cost of doing business.
Accept and move on. Its the Kenyan way... They are fearing going into oblivion coz all the branches may shut if things continue as they are and the brand erased. Going into administration is to shield the assets from being attached and sold by the the creditors,give more time to figure out how they can start repaying their debts Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Nakumatt: Another ailing Kenyan company
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