obviously reading the young man's replying affidavit, it was obvious that him and the wazees were reading from different pages. looks like ed and team were concerned about baam investors and the wazees were only concerned about their pockets. their job was to make money for investors and charge a fee, but looks like wazee wanted them to make money for them only, and at no fee.and by the way, who is wairegi to stop payment? ...he is not the fund manager. so we are getting closer to the story: britam says it was defrauded, acorn says it is being forcefully acquired, and cytonn says they did not want to be used to screw investors. so who is right? as for wairegi, he looks very clueless sana, how do you say you were defrauded of 4 billion invested over a 4 month period? he def did not understand what was going on in baam at all, i think dande played him like a guitar. that mzee needs to go home. hope he has a clue what is going on in insurance and sales, maybe he is losing billions there too?

Interesting discussions here. From the affidavit, was this Dande dude working for Britam or Acorn? Looks like an intention to benefit from public sympathy which clearly isnt working. Keep them coming.

Finally someone who gets what the real problem is all about.

Tried it also not working...

So court says property and money to remain interstate until suit is determined. Dande asserts he did not benefit at all from the BAAM money.
http://www.capitalfm.co.ke/busi...tam-acorn-case-extended/

This matter is very straightforward; after all the gymnastics, the 3.6bn will be returned and the sharp young men can look for someone else's money.

But what of trust, that most elusive currency! Will fund managers invest in Karen Olula Ridge for a 14% return with all the other corporate offers available? The biggest project Acorn cites in corporate profile remains Britam Tower in Upperhill.

MzaledoKE
This story is fishy, a start up which is hardly two years old cannot be worth 1.1B. That's a big lie. Show us the revenues to justify the value.


Edwin Dande reply to MzaledoKE
MzaledoKE, I am part of the team that run's Cytonn, you are welcome to come to our offices and confirm whatever you would like to confirm. We are on statehouse avenue, liason house, 3rd floor. Fund management is not about how long a company has been incorporated, its about he depth and experience of the team behind the brand. "Africa has vast opportunities for committed entrepreneurs", said Haku, seize the opportunity.


kijana2014 •
Looks like some players in the market have sided with Cytonn and put some skin in the game.


Edwin Dande reply to kijana2014.
Investors want returns and performance, and the best returns are in real estate and private equity ...they will go with whoever delivers.


The Thinker

Would be great if a story was to be written on the BAAM and Cytonn fall out.

Edwin Dande reply to The Thinker
The Thinker, bring the writer we tell our story.


kevin
True but in the case of business, this could be bad publicity


Edwin Dande reply to kevin
There is nothing like bad publicity, all publicity is good publicity. The question is what you do with the publicity. If you have depth and substance to put behind the publicity, publicity gives you the stage to showcase your capabilities. Being sued was probably the best free marketing ever given to the Cytonn brand.