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Nakumatt: Another ailing Kenyan company
Rank: Elder Joined: 7/26/2007 Posts: 6,514
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obiero wrote:winston wrote:I am surprised the asian community has not cobbled something to save this gaint. Read about the caste system for Kenyan Indians Rumour is the Associated Steel Group want to buy but Shah wont sell as it requires due diligence and that may reveal what he stole. Business opportunities are like buses,there's always another one coming
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Rank: Member Joined: 4/14/2010 Posts: 806 Location: Nairobi
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obiero wrote:winston wrote:I am surprised the asian community has not cobbled something to save this gaint. Read about the caste system for Kenyan Indians @obiero...thanks. Hadnt seen that angle
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Rank: Member Joined: 9/2/2010 Posts: 845
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Doesn't it all come down to viability? There are limits to how much any community in the world can do for its members. I'm sure many of Nakumatt's creditors are members of the Asian community. Your own brother would be hesitant to sink their savings in your collapsing business. All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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Rank: Member Joined: 9/9/2015 Posts: 233
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Indians are financially smart,more than they are communal or collaborative. "Buy when there's blood in the streets, even if the blood is your own."
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Rank: Veteran Joined: 5/5/2011 Posts: 1,059
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Nakumatt owners will actually get very rich if the chain goes down. To Each His Own
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Rank: Member Joined: 1/22/2015 Posts: 682
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innairobi wrote:Doesn't it all come down to viability? There are limits to how much any community in the world can do for its members. I'm sure many of Nakumatt's creditors are members of the Asian community. Your own brother would be hesitant to sink their savings in your collapsing business. Yes, that's the bottom line, and also, having dealt with family business, I have a suspicion that the owners want to dictate some sweet terms for themselves out of pride. Lakini mahali imefika, they should be happy if someone even just pays off their debt in exchange for the whole company. I'm sure they've made a few billion for themselves over the years, they should just retire into the sunset now and call it a day.
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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Ericsson wrote:Angelica _ann wrote:Ericsson wrote:You will see wonders from september What wonders, what do you mean??? Branches shutting down After Nine Months, Nakumatt Shuts Down NextGen Mall outlet along Mombasa Road http://kenyanwallstreet....utlet-along-mombasa-roadWealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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That headline should read as 'Nakumatt To Shut Down...'? [quote=Ericsson] After Nine Months, Nakumatt Shuts Down NextGen Mall outlet along Mombasa Road http://kenyanwallstreet....tlet-along-mombasa-road[/quote]
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Rank: Member Joined: 7/7/2009 Posts: 41
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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 Happiness is not the absence of problems, It's the ability to deal with them
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 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
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 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: 954 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: 10,639 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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