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Cytonn Investments
paulkimani
#1101 Posted : Saturday, February 27, 2021 10:37:59 AM
Rank: Member


Joined: 1/19/2016
Posts: 176
The arrogance and temperament of Kenyan wakilis ladies and gentlemen.

Moving on, to matters other than threats... I will repost for those who missed it with all these pointless posts. See below. PS - for future reference, I will not be responding to tony stark or sparkly as they are deviating from the topic at hand with threats. Sounds just like the CEO of a certain company in my humble, peasant, non learned opinion.

https://twitter.com/cyto...365527503394193412?s=21

Cytonn is launching an overdraft facility. Customers can borrow money from them and customers pays back with interest.

Is this not worrying anyone?
Cytonn have defaulted on payments over 300 million kshs, based on ACTIVE court cases from the last 6 months alone.
Probably more.

Now they are lending money? Who’s money?
Who’s money are they lending when they can’t even pay back their current customers?
This pyramid scheme keeps getting worse and it is baffling that no regulatory body, regardless of their authority, is speaking out before billions more get stolen from innocent customers



sparkly wrote:
paulkimani wrote:
100% agree. We have seen all too often, corruption before justice. And threats to anyone who dares speak out. The last two weeks alone, tony stark and sparkly have sent me threats because they disagree with what I post. C’est la vie here in Kenya. Head down, ignore the corrupt thugs and keep on going.


VituVingiSana wrote:
The law is an ass. Let's call a spade a spade. These judges were compromised.
>>>

(i) Nicholas Biwott sued various persons and media houses for linking him to Ouko murder among other scandals - Awarded KShs 67.5 million

(ii) Chris Murungaru sued John Githongo for calling him corrupt - Awarded KShs 27 million.



There is an interesting discipline called Jurisprudence i.e. the philosophical study of what the law is. Various theories have been advanced to explain what the law is and how it operates e.g. Naturalist, Positivist, Sociological, Realist, Critical. These are advanced concepts that I don't expect you to comprehend with your Diploma in Mass Communication.

It is ok for you to accept that the law is an ass, just like it is in order for a toddler to accept that children are delivered to their parents by storks, while adults understand that alot of screwing happens to make babies.

paulkimani
#1102 Posted : Saturday, February 27, 2021 2:02:42 PM
Rank: Member


Joined: 1/19/2016
Posts: 176
Hands down the best apology ever!!
Cytonn tried to gag kenyanwallstreet’s right to free speech. The article just linked 100 other news articles about Cytonns pyramid scheme. Brilliant work by Kenyan Wall Street. What a boss, what an apology!! Cytonn spends more time fighting bloggers than handling projects. Cytonn would have been better off without this apology. BRILLIANT.

https://t.co/CEenSNg5NH?amp=1


“In compliance with the above court order, we have since deleted the stories mentioned in the order to avoid any of our staff feeling threatened and unable to do their job.

It is worth noting that the stories that the company through the court order has asked us to pull down were based on publicly available court documents and have been reported by other media houses as well and some remain available to the public. (The article has linked the news stories from BD, Nation etc)

We will continue to advise our readers and the general public that before they make any investment decision, they should first do their own proper due diligence, even in good faith situations.“



—-

Links provided by Kenyan Wall Street to articles:


Business Daily;
https://www.businessdail...-sh122m-default-2371628

https://www.businessdail...over-sh14m-debt-3224722

https://www.businessdail...ns-in-cash-call-2374156

https://edition.pagesuit...7f07db7f&appid=3420

Daily Nation;
https://nation.africa/ke...-sh122m-default-2371796

https://nation.africa/ke...over-sh14m-debt-3224664

https://nation.africa/ke...ss-house-cracks-2463786


Standard Media;
https://www.standardmedi...n-wants-cytonn-wound-up

https://www.standardmedi...nvestors-pull-out-funds

https://www.standardmedi...-safety-of-cytonn-funds

https://www.standardmedi...it-fund-cma-tells-court

https://www.standardmedi...tor-over-payments-claim


Citizen TV
Three businessmen sue Cytonn over Ksh.46 million investment


The Star Newspaper;
https://www.the-star.co....over-sh44million-fraud/

https://www.the-star.co....investment-from-cytonn/

https://www.the-star.co....d-sh467-million-refund/

https://www.the-star.co....embroiled-in-court-war/

Others;
https://www.pd.co.ke/bus...estors-escalates-53221/



sparkly
#1103 Posted : Saturday, February 27, 2021 3:00:27 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,960
Location: Enk are Nyirobi
paulkimani wrote:
Hands down the best apology ever!!
Cytonn tried to gag kenyanwallstreet’s right to free speech. The article just linked 100 other news articles about Cytonns pyramid scheme. Brilliant work by Kenyan Wall Street. What a boss, what an apology!! Cytonn spends more time fighting bloggers than handling projects. Cytonn would have been better off without this apology. BRILLIANT.

https://t.co/CEenSNg5NH?amp=1


“In compliance with the above court order, we have since deleted the stories mentioned in the order to avoid any of our staff feeling threatened and unable to do their job.

It is worth noting that the stories that the company through the court order has asked us to pull down were based on publicly available court documents and have been reported by other media houses as well and some remain available to the public. (The article has linked the news stories from BD, Nation etc)

We will continue to advise our readers and the general public that before they make any investment decision, they should first do their own proper due diligence, even in good faith situations.“



—-

Links provided by Kenyan Wall Street to articles:


Business Daily;
https://www.businessdail...-sh122m-default-2371628

https://www.businessdail...over-sh14m-debt-3224722

https://www.businessdail...ns-in-cash-call-2374156

https://edition.pagesuit...7f07db7f&appid=3420

Daily Nation;
https://nation.africa/ke...-sh122m-default-2371796

https://nation.africa/ke...over-sh14m-debt-3224664

https://nation.africa/ke...ss-house-cracks-2463786


Standard Media;
https://www.standardmedi...n-wants-cytonn-wound-up

https://www.standardmedi...nvestors-pull-out-funds

https://www.standardmedi...-safety-of-cytonn-funds

https://www.standardmedi...it-fund-cma-tells-court

https://www.standardmedi...tor-over-payments-claim


Citizen TV
Three businessmen sue Cytonn over Ksh.46 million investment


The Star Newspaper;
https://www.the-star.co....over-sh44million-fraud/

https://www.the-star.co....investment-from-cytonn/

https://www.the-star.co....d-sh467-million-refund/

https://www.the-star.co....embroiled-in-court-war/

Others;
https://www.pd.co.ke/bus...estors-escalates-53221/





They have apologized, they have pulled down the story. There is still the matter of damages (cash payment) upon proof of damages by Cytonn.

Keep us posted and try to avoid digging yourself in the same hole. The money you receive to smear Cytonn name will not be enough to pay them damages.
Life is short. Live passionately.
sqft
#1104 Posted : Saturday, February 27, 2021 7:15:59 PM
Rank: Veteran


Joined: 1/10/2015
Posts: 959
Location: Kenya
sparkly wrote:
paulkimani wrote:
Hands down the best apology ever!!
Cytonn tried to gag kenyanwallstreet’s right to free speech. The article just linked 100 other news articles about Cytonns pyramid scheme. Brilliant work by Kenyan Wall Street. What a boss, what an apology!! Cytonn spends more time fighting bloggers than handling projects. Cytonn would have been better off without this apology. BRILLIANT.

https://t.co/CEenSNg5NH?amp=1


“In compliance with the above court order, we have since deleted the stories mentioned in the order to avoid any of our staff feeling threatened and unable to do their job.

It is worth noting that the stories that the company through the court order has asked us to pull down were based on publicly available court documents and have been reported by other media houses as well and some remain available to the public. (The article has linked the news stories from BD, Nation etc)

We will continue to advise our readers and the general public that before they make any investment decision, they should first do their own proper due diligence, even in good faith situations.“



—-

Links provided by Kenyan Wall Street to articles:


Business Daily;
https://www.businessdail...-sh122m-default-2371628

https://www.businessdail...over-sh14m-debt-3224722

https://www.businessdail...ns-in-cash-call-2374156

https://edition.pagesuit...7f07db7f&appid=3420

Daily Nation;
https://nation.africa/ke...-sh122m-default-2371796

https://nation.africa/ke...over-sh14m-debt-3224664

https://nation.africa/ke...ss-house-cracks-2463786


Standard Media;
https://www.standardmedi...n-wants-cytonn-wound-up

https://www.standardmedi...nvestors-pull-out-funds

https://www.standardmedi...-safety-of-cytonn-funds

https://www.standardmedi...it-fund-cma-tells-court

https://www.standardmedi...tor-over-payments-claim


Citizen TV
Three businessmen sue Cytonn over Ksh.46 million investment


The Star Newspaper;
https://www.the-star.co....over-sh44million-fraud/

https://www.the-star.co....investment-from-cytonn/

https://www.the-star.co....d-sh467-million-refund/

https://www.the-star.co....embroiled-in-court-war/

Others;
https://www.pd.co.ke/bus...estors-escalates-53221/





They have apologized, they have pulled down the story. There is still the matter of damages (cash payment) upon proof of damages by Cytonn.

Keep us posted and try to avoid digging yourself in the same hole. The money you receive to smear Cytonn name will not be enough to pay them damages.


will they also sue all the other media houses who have written all those articles listed above?
Proverbs 13:11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
paulkimani
#1105 Posted : Saturday, February 27, 2021 8:47:45 PM
Rank: Member


Joined: 1/19/2016
Posts: 176
Hahahahaha Laughing out loudly

It is a case of misdirecting their ire at a media outlet with the least muscle to fight back. Something Cytonn has done time and time again. Threatening and intimidating the little guy. Regardless, this incident blew up in Cytonns face. They are trending on Twitter for this reason.

Any big media outlet would have it thrown out and sue Cytonn in return. They wouldn’t dare.

Cytonn are simply trolls trying to abuse the courts to strangle free speech and freedom of information.

This was bound to happen and it is wonderful that a smaller media outlet like Kenyan wal street are being praised for calling out the pyramid scheme! Big respect to them. Applause

sqft wrote:
sparkly wrote:
paulkimani wrote:
Hands down the best apology ever!!
Cytonn tried to gag kenyanwallstreet’s right to free speech. The article just linked 100 other news articles about Cytonns pyramid scheme. Brilliant work by Kenyan Wall Street. What a boss, what an apology!! Cytonn spends more time fighting bloggers than handling projects. Cytonn would have been better off without this apology. BRILLIANT.

https://t.co/CEenSNg5NH?amp=1


“In compliance with the above court order, we have since deleted the stories mentioned in the order to avoid any of our staff feeling threatened and unable to do their job.

It is worth noting that the stories that the company through the court order has asked us to pull down were based on publicly available court documents and have been reported by other media houses as well and some remain available to the public. (The article has linked the news stories from BD, Nation etc)

We will continue to advise our readers and the general public that before they make any investment decision, they should first do their own proper due diligence, even in good faith situations.“



—-

Links provided by Kenyan Wall Street to articles:


Business Daily;
https://www.businessdail...-sh122m-default-2371628

https://www.businessdail...over-sh14m-debt-3224722

https://www.businessdail...ns-in-cash-call-2374156

https://edition.pagesuit...7f07db7f&appid=3420

Daily Nation;
https://nation.africa/ke...-sh122m-default-2371796

https://nation.africa/ke...over-sh14m-debt-3224664

https://nation.africa/ke...ss-house-cracks-2463786


Standard Media;
https://www.standardmedi...n-wants-cytonn-wound-up

https://www.standardmedi...nvestors-pull-out-funds

https://www.standardmedi...-safety-of-cytonn-funds

https://www.standardmedi...it-fund-cma-tells-court

https://www.standardmedi...tor-over-payments-claim


Citizen TV
Three businessmen sue Cytonn over Ksh.46 million investment


The Star Newspaper;
https://www.the-star.co....over-sh44million-fraud/

https://www.the-star.co....investment-from-cytonn/

https://www.the-star.co....d-sh467-million-refund/

https://www.the-star.co....embroiled-in-court-war/

Others;
https://www.pd.co.ke/bus...estors-escalates-53221/





They have apologized, they have pulled down the story. There is still the matter of damages (cash payment) upon proof of damages by Cytonn.

Keep us posted and try to avoid digging yourself in the same hole. The money you receive to smear Cytonn name will not be enough to pay them damages.


will they also sue all the other media houses who have written all those articles listed above?

VituVingiSana
#1106 Posted : Sunday, February 28, 2021 5:37:54 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,437
Location: Nairobi
"Githongo went beyond his official duty of reporting corruption." is a nice way of sweeping things under the carpet.

"proof of any corrupt acts on Murungaru's part ie no money trail, no proof of criminal charge or conviction." What if this proof disappeared? It's like Goldenberg. Bro Paul (& many of his friends) were in and out but all a sham.

BTW, is this the same Judge JK Sergon who was found unsuitable by the vetting board for "credible allegations of corruption and failing to remit client's money, lacks personal integrity"?

And what about the Biwott case.

sparkly wrote:
VituVingiSana wrote:
The law is an ass. Let's call a spade a spade. These judges were compromised.
>>>

(i) Nicholas Biwott sued various persons and media houses for linking him to Ouko murder among other scandals - Awarded KShs 67.5 million

(ii) Chris Murungaru sued John Githongo for calling him corrupt - Awarded KShs 27 million.


Here is the Githongo Judgement Murungaru versus Githongo Judgement

Looks well reasoned to me:

1. Githongo went beyond his official duty of reporting curruption. He held interviews locally and abroad, probably made money from his appearances and the book.

2. Githongo did not have proof of any corrupt acts on Murungaru's part ie no money trail, no proof of criminal charge or conviction.

3. Githongo refused to retract/ apologize.

4. Civil cases are determined on a balance of probability so it was enough for Murungaru to show that defamatory words were published about him and he suffered damage to his reputation.

Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#1107 Posted : Sunday, February 28, 2021 10:41:19 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,960
Location: Enk are Nyirobi
VituVingiSana wrote:
"Githongo went beyond his official duty of reporting corruption." is a nice way of sweeping things under the carpet.

"proof of any corrupt acts on Murungaru's part ie no money trail, no proof of criminal charge or conviction." What if this proof disappeared? It's like Goldenberg. Bro Paul (& many of his friends) were in and out but all a sham.

BTW, is this the same Judge JK Sergon who was found unsuitable by the vetting board for "credible allegations of corruption and failing to remit client's money, lacks personal integrity"?

And what about the Biwott case.

sparkly wrote:
VituVingiSana wrote:
The law is an ass. Let's call a spade a spade. These judges were compromised.
>>>

(i) Nicholas Biwott sued various persons and media houses for linking him to Ouko murder among other scandals - Awarded KShs 67.5 million

(ii) Chris Murungaru sued John Githongo for calling him corrupt - Awarded KShs 27 million.


Here is the Githongo Judgement Murungaru versus Githongo Judgement

Looks well reasoned to me:

1. Githongo went beyond his official duty of reporting curruption. He held interviews locally and abroad, probably made money from his appearances and the book.

2. Githongo did not have proof of any corrupt acts on Murungaru's part ie no money trail, no proof of criminal charge or conviction.

3. Githongo refused to retract/ apologize.

4. Civil cases are determined on a balance of probability so it was enough for Murungaru to show that defamatory words were published about him and he suffered damage to his reputation.



@VVS the message is that you should never accuse people esp people with money, power or both of crimes, immorality or impropriety unless you have solid evidence.

If you don't have solid evidence you can use ambiguous terms like "a powerful minister", "a prominent business man", "a decorated wazuan" Laughing out loudly Laughing out loudly Laughing out loudly
Life is short. Live passionately.
paulkimani
#1108 Posted : Sunday, February 28, 2021 11:51:15 AM
Rank: Member


Joined: 1/19/2016
Posts: 176
Rollout
#1109 Posted : Sunday, February 28, 2021 6:03:11 PM
Rank: Member


Joined: 4/26/2011
Posts: 746
If Cytonn is indeed a reputable firm, then it should be able to raise money from high networth individuals, global institutions/companies etc.

The fact that Cytonn need to sell assets to raise kshs. 122 million ($1.22 million) is shocking to me.

The fact that Edwin with his Wharton network can't make phone call and pull in $100 million and have to fundraise from middle class Kenyans should be concerning.

If you raise money from Paul Kimani and people in his social class then don't blame them or anyone if they keep calling you on Monday, Wednesday and Friday to check their balance. Legitimate private equity will never pitch to small money investors, in fact most of them set a minimum investment of $1 million and 7 years investment period. I don't know Cytonne model and why they didn't raise money from high networth clients.
Ali Baba
#1110 Posted : Monday, March 01, 2021 2:35:28 AM
Rank: Member


Joined: 8/29/2008
Posts: 564
I hear that people are being sued, but then-we are never worried by lawsuits. Whoever wants to sue, let them sue.
Ali Baba
#1111 Posted : Monday, March 01, 2021 2:42:43 AM
Rank: Member


Joined: 8/29/2008
Posts: 564
sparkly wrote:
VituVingiSana wrote:
"Githongo went beyond his official duty of reporting corruption." is a nice way of sweeping things under the carpet.

"proof of any corrupt acts on Murungaru's part ie no money trail, no proof of criminal charge or conviction." What if this proof disappeared? It's like Goldenberg. Bro Paul (& many of his friends) were in and out but all a sham.

BTW, is this the same Judge JK Sergon who was found unsuitable by the vetting board for "credible allegations of corruption and failing to remit client's money, lacks personal integrity"?

And what about the Biwott case.

sparkly wrote:
VituVingiSana wrote:
The law is an ass. Let's call a spade a spade. These judges were compromised.
>>>

(i) Nicholas Biwott sued various persons and media houses for linking him to Ouko murder among other scandals - Awarded KShs 67.5 million

(ii) Chris Murungaru sued John Githongo for calling him corrupt - Awarded KShs 27 million.


Here is the Githongo Judgement Murungaru versus Githongo Judgement

Looks well reasoned to me:

1. Githongo went beyond his official duty of reporting curruption. He held interviews locally and abroad, probably made money from his appearances and the book.

2. Githongo did not have proof of any corrupt acts on Murungaru's part ie no money trail, no proof of criminal charge or conviction.

3. Githongo refused to retract/ apologize.

4. Civil cases are determined on a balance of probability so it was enough for Murungaru to show that defamatory words were published about him and he suffered damage to his reputation.



@VVS the message is that you should never accuse people esp people with money, power or both of crimes, immorality or impropriety unless you have solid evidence.

If you don't have solid evidence you can use ambiguous terms like "a powerful minister", "a prominent business man", "a decorated wazuan" Laughing out loudly Laughing out loudly Laughing out loudly
if have money, why haven't we heard of you in the Forbes list? Give us a break.
VituVingiSana
#1112 Posted : Monday, March 01, 2021 7:35:53 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,437
Location: Nairobi
https://www.businessdail...ate-governance--3307342 When the law is an ass in corporate governance
by a lawyer (Caroline Musyoka) who is a lawyer by training and was a director at BBK
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#1113 Posted : Monday, March 01, 2021 8:14:19 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,960
Location: Enk are Nyirobi
Ali Baba wrote:
sparkly wrote:
VituVingiSana wrote:
"Githongo went beyond his official duty of reporting corruption." is a nice way of sweeping things under the carpet.

"proof of any corrupt acts on Murungaru's part ie no money trail, no proof of criminal charge or conviction." What if this proof disappeared? It's like Goldenberg. Bro Paul (& many of his friends) were in and out but all a sham.

BTW, is this the same Judge JK Sergon who was found unsuitable by the vetting board for "credible allegations of corruption and failing to remit client's money, lacks personal integrity"?

And what about the Biwott case.

sparkly wrote:
VituVingiSana wrote:
The law is an ass. Let's call a spade a spade. These judges were compromised.
>>>

(i) Nicholas Biwott sued various persons and media houses for linking him to Ouko murder among other scandals - Awarded KShs 67.5 million

(ii) Chris Murungaru sued John Githongo for calling him corrupt - Awarded KShs 27 million.


Here is the Githongo Judgement Murungaru versus Githongo Judgement

Looks well reasoned to me:

1. Githongo went beyond his official duty of reporting curruption. He held interviews locally and abroad, probably made money from his appearances and the book.

2. Githongo did not have proof of any corrupt acts on Murungaru's part ie no money trail, no proof of criminal charge or conviction.

3. Githongo refused to retract/ apologize.

4. Civil cases are determined on a balance of probability so it was enough for Murungaru to show that defamatory words were published about him and he suffered damage to his reputation.



@VVS the message is that you should never accuse people esp people with money, power or both of crimes, immorality or impropriety unless you have solid evidence.

If you don't have solid evidence you can use ambiguous terms like "a powerful minister", "a prominent business man", "a decorated wazuan" Laughing out loudly Laughing out loudly Laughing out loudly
if have money, why haven't we heard of you in the Forbes list? Give us a break.


You were sleeping through the class. We were speaking about Biwott, Murungaru et al
Life is short. Live passionately.
sparkly
#1114 Posted : Monday, March 01, 2021 8:50:01 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,960
Location: Enk are Nyirobi
sqft wrote:
sparkly wrote:
paulkimani wrote:
Hands down the best apology ever!!
Cytonn tried to gag kenyanwallstreet’s right to free speech. The article just linked 100 other news articles about Cytonns pyramid scheme. Brilliant work by Kenyan Wall Street. What a boss, what an apology!! Cytonn spends more time fighting bloggers than handling projects. Cytonn would have been better off without this apology. BRILLIANT.

https://t.co/CEenSNg5NH?amp=1


“In compliance with the above court order, we have since deleted the stories mentioned in the order to avoid any of our staff feeling threatened and unable to do their job.

It is worth noting that the stories that the company through the court order has asked us to pull down were based on publicly available court documents and have been reported by other media houses as well and some remain available to the public. (The article has linked the news stories from BD, Nation etc)

We will continue to advise our readers and the general public that before they make any investment decision, they should first do their own proper due diligence, even in good faith situations.“



—-

Links provided by Kenyan Wall Street to articles:


Business Daily;
https://www.businessdail...-sh122m-default-2371628

https://www.businessdail...over-sh14m-debt-3224722

https://www.businessdail...ns-in-cash-call-2374156

https://edition.pagesuit...7f07db7f&appid=3420

Daily Nation;
https://nation.africa/ke...-sh122m-default-2371796

https://nation.africa/ke...over-sh14m-debt-3224664

https://nation.africa/ke...ss-house-cracks-2463786


Standard Media;
https://www.standardmedi...n-wants-cytonn-wound-up

https://www.standardmedi...nvestors-pull-out-funds

https://www.standardmedi...-safety-of-cytonn-funds

https://www.standardmedi...it-fund-cma-tells-court

https://www.standardmedi...tor-over-payments-claim


Citizen TV
Three businessmen sue Cytonn over Ksh.46 million investment


The Star Newspaper;
https://www.the-star.co....over-sh44million-fraud/

https://www.the-star.co....investment-from-cytonn/

https://www.the-star.co....d-sh467-million-refund/

https://www.the-star.co....embroiled-in-court-war/

Others;
https://www.pd.co.ke/bus...estors-escalates-53221/





They have apologized, they have pulled down the story. There is still the matter of damages (cash payment) upon proof of damages by Cytonn.

Keep us posted and try to avoid digging yourself in the same hole. The money you receive to smear Cytonn name will not be enough to pay them damages.


will they also sue all the other media houses who have written all those articles listed above?


I predicted that people would sue. Now @PK is running around reporting how people have sued!

Sparkly wrote:
Whistle blowing on what? You went to Cytonn, you signed an investment CONTRACT with them. If they don't fulfill their end of the bargain, you sue for BREACH of contract. In legal jargon this kind of a suit is called a "personam suit" i.e. you sue a particular person for the breach. This is to say there is nothing like whistle blowing on personal contracts. The most you can do is alert fellow netizens if something dodgy is going on and let everyone carry their burden.


My next predictions:-
1. Cytonn Funds will not survive the run on assets. Pole for the investors.
2. The regulated funds, structured as Collective Investment schemes will face massive loss of capital. People will be lucky to get out 50% of what they invested.
3. The unregulated funds are worse of without ring-fencing and any security. Total write-off is likely.
4. There will be no fraud prosecutions on Cytonn directors.
5. Fund Investors will have no recourse on the real estate projects. There are priority interests on the real estate.
Life is short. Live passionately.
paulkimani
#1115 Posted : Friday, March 05, 2021 9:35:41 AM
Rank: Member


Joined: 1/19/2016
Posts: 176
https://twitter.com/tukss_/status/1367432541389680641?s=21

“ So Cytonn is finally going down. All Directors left but Edwin is still holding on, all projects have stalled except Alma. Can't wait to see how this unfolds.”

Currently at 160 retweet’s, and 292 likes.

https://twitter.com/effects_then/status/1367566094278533122?s=21
poundfoolish
#1116 Posted : Wednesday, March 10, 2021 12:34:17 PM
Rank: Elder


Joined: 12/2/2009
Posts: 2,429
Location: Nairobi
Rollout wrote:
If Cytonn is indeed a reputable firm, then it should be able to raise money from high networth individuals, global institutions/companies etc.

The fact that Cytonn need to sell assets to raise kshs. 122 million ($1.22 million) is shocking to me.

The fact that Edwin with his Wharton network can't make phone call and pull in $100 million and have to fundraise from middle class Kenyans should be concerning.

If you raise money from Paul Kimani and people in his social class then don't blame them or anyone if they keep calling you on Monday, Wednesday and Friday to check their balance. Legitimate private equity will never pitch to small money investors, in fact most of them set a minimum investment of $1 million and 7 years investment period. I don't know Cytonne model and why they didn't raise money from high networth clients.


You clearly dont understand the Cytonn products do you?

The CHYS was and is a private product whose entry was 1M with a minimum 5years lock in period. It targets High Net Worth individuals.

How idlers on Twitter are whining it is their money is only stuff for movies.
poundfoolish
#1117 Posted : Wednesday, March 10, 2021 12:35:56 PM
Rank: Elder


Joined: 12/2/2009
Posts: 2,429
Location: Nairobi
paulkimani wrote:
https://twitter.com/tukss_/status/1367432541389680641?s=21

“ So Cytonn is finally going down. All Directors left but Edwin is still holding on, all projects have stalled except Alma. Can't wait to see how this unfolds.”

Currently at 160 retweet’s, and 292 likes.

https://twitter.com/effects_then/status/1367566094278533122?s=21


LOL you are going down fighting!!! Can I hire you?
paulkimani
#1118 Posted : Thursday, April 01, 2021 4:39:20 PM
Rank: Member


Joined: 1/19/2016
Posts: 176
Ali Baba
#1119 Posted : Friday, April 02, 2021 12:52:33 AM
Rank: Member


Joined: 8/29/2008
Posts: 564
poundfoolish wrote:
Rollout wrote:
If Cytonn is indeed a reputable firm, then it should be able to raise money from high networth individuals, global institutions/companies etc.

The fact that Cytonn need to sell assets to raise kshs. 122 million ($1.22 million) is shocking to me.

The fact that Edwin with his Wharton network can't make phone call and pull in $100 million and have to fundraise from middle class Kenyans should be concerning.

If you raise money from Paul Kimani and people in his social class then don't blame them or anyone if they keep calling you on Monday, Wednesday and Friday to check their balance. Legitimate private equity will never pitch to small money investors, in fact most of them set a minimum investment of $1 million and 7 years investment period. I don't know Cytonne model and why they didn't raise money from high networth clients.


You clearly dont understand the Cytonn products do you?

The CHYS was and is a private product whose entry was 1M with a minimum 5years lock in period. It targets High Net Worth individuals.

How idlers on Twitter are whining it is their money is only stuff for movies.
Ksh 1m is not necessarily for HNW individuals. Every idiot has such, had it not been for the pandemic
Rollout
#1120 Posted : Friday, April 02, 2021 2:41:46 PM
Rank: Member


Joined: 4/26/2011
Posts: 746
poundfoolish wrote:
Rollout wrote:
If Cytonn is indeed a reputable firm, then it should be able to raise money from high networth individuals, global institutions/companies etc.

The fact that Cytonn need to sell assets to raise kshs. 122 million ($1.22 million) is shocking to me.

The fact that Edwin with his Wharton network can't make phone call and pull in $100 million and have to fundraise from middle class Kenyans should be concerning.

If you raise money from Paul Kimani and people in his social class then don't blame them or anyone if they keep calling you on Monday, Wednesday and Friday to check their balance. Legitimate private equity will never pitch to small money investors, in fact most of them set a minimum investment of $1 million and 7 years investment period. I don't know Cytonne model and why they didn't raise money from high networth clients.


You clearly dont understand the Cytonn products do you?

The CHYS was and is a private product whose entry was 1M with a minimum 5years lock in period. It targets High Net Worth individuals.

How idlers on Twitter are whining it is their money is only stuff for movies.


Kshs. 1 million is a low threshold, that is kshs. 1666 management fee a month, Cytonn made a fatal mistake, they should have had at least kshs. 50 million threshold. In typical private equity investors( limited Partners) make capital commitment and fund managers( managing partners)make capital calls every time they want to make an investment.

The fact that people deposit money in some account irrespective of whether Cytonn needed to deploy money at the time and people were getting interest payment regardless of whether the company had a liquidity event still don't make sense.

If Cytonn was in a developed market, Edwin will be in jail!
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