Ericsson wrote:https://www.forbes.com/sites/mfonobongnsehe/2019/02/04/kenyan-tycoon-manu-chandaria-to-lose-company-over-60-million-debt/
The economy is bed-ridden
Quote:Kaluworks Limited, a manufacturer of aluminum cookware and roofing sheets that is wholly owned by Manu Chandaria’s Comcraft Group, is facing auction over a $60 million debt owed to a consortium of Kenyan banks.
Quote:Over the last few weeks, some of Kenya’s leading banks and financial institutions have published notices in Kenyan newspapers announcing the auction of Kaluwork’s assets over its non-performing loans. Some of the banks Kaluworks is indebted to include I&M Bank, NIC Bank and Bank of Baroda. The banks have instructed auctioneers and debt collectors to auction off multi-million dollar properties including residential and commercial complexes owned by Kaluworks, which had been used to guarantee loans for Kaluworks after the firm failed to honor its obligations.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.