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Nakumatt: Another ailing Kenyan company
hardwood
#581 Posted : Wednesday, November 15, 2017 11:02:09 AM
Rank: Elder


Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
KulaRaha
#582 Posted : Wednesday, November 15, 2017 4:08:05 PM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
Seems the main bank has finally admitted "some" of its exposure....more to come!
Business opportunities are like buses,there's always another one coming
winmak
#583 Posted : Wednesday, November 15, 2017 6:24:38 PM
Rank: Member


Joined: 12/1/2007
Posts: 537
Location: Nakuru
KulaRaha wrote:
Seems the main bank has finally admitted "some" of its exposure....more to come!


main???d'oh! d'oh! d'oh! d'oh!
For investors as a whole, returns decrease as motion increases ~ WB
KulaRaha
#584 Posted : Thursday, November 16, 2017 7:40:58 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
winmak wrote:
KulaRaha wrote:
Seems the main bank has finally admitted "some" of its exposure....more to come!


main???d'oh! d'oh! d'oh! d'oh!


Main bank released results yesterday....quietly.

Those provisions are not adequate, they are still cooking...
Business opportunities are like buses,there's always another one coming
Angelica _ann
#585 Posted : Thursday, November 16, 2017 7:47:13 AM
Rank: Elder


Joined: 12/7/2012
Posts: 11,901
KulaRaha wrote:
winmak wrote:
KulaRaha wrote:
Seems the main bank has finally admitted "some" of its exposure....more to come!


main???d'oh! d'oh! d'oh! d'oh!


Main bank released results yesterday....quietly.

Those provisions are not adequate, they are still cooking...


The banks need to do a KQ here smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
KulaRaha
#586 Posted : Thursday, November 16, 2017 8:16:55 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
Angelica _ann wrote:
KulaRaha wrote:
winmak wrote:
KulaRaha wrote:
Seems the main bank has finally admitted "some" of its exposure....more to come!


main???d'oh! d'oh! d'oh! d'oh!


Main bank released results yesterday....quietly.

Those provisions are not adequate, they are still cooking...


The banks need to do a KQ here smile


Difficult to do, given there are ZERO assets.
Business opportunities are like buses,there's always another one coming
moneydust
#587 Posted : Friday, November 24, 2017 6:18:43 PM
Rank: Member


Joined: 1/31/2007
Posts: 303
moneydust wrote:
obiero wrote:
hardwood wrote:
Lolest! wrote:
Meanwhile Naivas opens a new branch at Ridgeways opposite Nakumatt Ridgeways without any debt...


It's not an industry thing


I said the future of retailing is Naivas. And Quickmatt. And chadarana.

The Naivas guys should be careful.. Our economy won't support their expansion especially if the same is credit driven


Nakumatt problems began when Harun Mwau exited the company.I wonder whyd'oh! d'oh! d'oh! d'oh! ...could it be they used the firms cash to pay him off hence the big hole in working capital?.Only they can tell us the truth.The issue of the economy being the problem is a red herring.For heavens sake customers pay cash, while suppliers supply on credit so why should we have empty shelvesd'oh! d'oh! watu waseme ukweli.


Nakumatt directors paid off Harun Mwau with working capital

It seems I wasnt wrong
innairobi
#588 Posted : Friday, November 24, 2017 6:43:51 PM
Rank: Member


Joined: 9/2/2010
Posts: 845
nakumatt must by now have fallen behind to become the third largest retailer by revenue behind tuskys and naivas. tuskys lazima saa hii wanafanya turnover ya 45 billion plus.
All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
the deal
#589 Posted : Saturday, November 25, 2017 3:11:25 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
innairobi wrote:
nakumatt must by now have fallen behind to become the third largest retailer by revenue behind tuskys and naivas. tuskys lazima saa hii wanafanya turnover ya 45 billion plus.

What's the net profit for Tuskys? How come they don't want to list? I hear it's not good as it seems...
obiero
#590 Posted : Friday, December 01, 2017 7:21:40 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,462
Location: nairobi
the deal wrote:
innairobi wrote:
nakumatt must by now have fallen behind to become the third largest retailer by revenue behind tuskys and naivas. tuskys lazima saa hii wanafanya turnover ya 45 billion plus.

What's the net profit for Tuskys? How come they don't want to list? I hear it's not good as it seems...

Supermarket business in Kenya should be profitable but it's not due to pilfering.. Even Carrefour are feeling the pinch (pun intended)

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
KulaRaha
#591 Posted : Friday, December 01, 2017 7:47:19 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
CarreFour claim pilferage in Kenya is the worst they've seen from all the places they operate.

We are thieves.
Business opportunities are like buses,there's always another one coming
hardwood
#592 Posted : Friday, December 01, 2017 7:57:01 AM
Rank: Elder


Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
kawi254
#593 Posted : Friday, December 01, 2017 9:53:53 AM
Rank: Member


Joined: 2/20/2015
Posts: 463
Location: Nairobi
KulaRaha wrote:
CarreFour claim pilferage in Kenya is the worst they've seen from all the places they operate.

We are thieves.



They haven't been to Southern African countries where Shoprite have security guards at exit to validate receipt against items in the shopping bag.
obiero
#594 Posted : Friday, December 01, 2017 10:06:16 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,462
Location: nairobi
kawi254 wrote:
KulaRaha wrote:
CarreFour claim pilferage in Kenya is the worst they've seen from all the places they operate.

We are thieves.



They haven't been to Southern African countries where Shoprite have security guards at exit to validate receipt against items in the shopping bag.

Hot point Sarit does that. Ukwala also used to do it

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
the deal
#595 Posted : Friday, December 01, 2017 10:11:20 AM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
obiero wrote:
kawi254 wrote:
KulaRaha wrote:
CarreFour claim pilferage in Kenya is the worst they've seen from all the places they operate.

We are thieves.



They haven't been to Southern African countries where Shoprite have security guards at exit to validate receipt against items in the shopping bag.

Hot point Sarit does that. Ukwala also used to do it


Shrinkage in Kenyan supermarkets is alarming... One of the reasons I can't invest in this sector contrary in Southern Africa... Shrinkage is very low... Retailers like Shoprite are one of the best investments one can make despite the current economic conditions in the region!
KulaRaha
#596 Posted : Friday, December 01, 2017 10:11:20 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
Egypt and Morocco only other 2 african countries for Carrefour. We are their first true experience...LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOL
Business opportunities are like buses,there's always another one coming
Gathige
#597 Posted : Friday, December 01, 2017 11:24:38 AM
Rank: Elder


Joined: 3/29/2011
Posts: 2,242
KulaRaha wrote:
CarreFour claim pilferage in Kenya is the worst they've seen from all the places they operate.

We are thieves.


No wonder the village duka and kiosk are tightly secured and the shopkeeper hands to the buyer their buy through a very small opening. Otherwise the peculiar long hands finds their way into the merchandise.

Very shameful

"Things that matter most must never be at the mercy of things that matter least." Goethe
Iganamagana
#598 Posted : Friday, December 01, 2017 12:02:59 PM
Rank: Veteran


Joined: 3/27/2009
Posts: 1,437
kawi254 wrote:
KulaRaha wrote:
CarreFour claim pilferage in Kenya is the worst they've seen from all the places they operate.

We are thieves.



They haven't been to Southern African countries where Shoprite have security guards at exit to validate receipt against items in the shopping bag.



Game at Garden City does it.
winmak
#599 Posted : Friday, December 01, 2017 6:33:01 PM
Rank: Member


Joined: 12/1/2007
Posts: 537
Location: Nakuru
Iganamagana wrote:
kawi254 wrote:
KulaRaha wrote:
CarreFour claim pilferage in Kenya is the worst they've seen from all the places they operate.

We are thieves.



They haven't been to Southern African countries where Shoprite have security guards at exit to validate receipt against items in the shopping bag.



Game at Garden City does it.


Gilanis Nakuru too
For investors as a whole, returns decrease as motion increases ~ WB
2012
#600 Posted : Friday, December 01, 2017 9:55:22 PM
Rank: Elder


Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
KulaRaha wrote:
CarreFour claim pilferage in Kenya is the worst they've seen from all the places they operate.

We are thieves.


I'm sure 90% is by staff.

BBI will solve it
:)
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