Nipate
Forum => Kenya Discussion => Topic started by: RV Pundit on August 24, 2020, 11:00:14 AM
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https://www.nation.co.ke/kenya/gender/covid-19-dims-baker-s-delight-1924250
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The cash Kenya received from donors and the WB was not only for purchase of MAfya house supplies, but exactly for this purpose to help out SMEs. These are the backbone of any country in the world. Now 34 people are tarmacking and some of our people are now busy ordering the latest Porsche in town.
Uhuru was and is a total failure. Even Arap Moi with his limited education and exposure to the world would have done better.
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The cash Kenya received from donators and the WB was not only for purchase of MAfya house supplies, but exactly for this purpose to help out SMEs. These are the backbone of any country in the world. Now 34 people are tarmacking and some of our people are now busy ordering the latest Porsche in town.
Uhuru was and is a total failure. Even Arap Moi with his limited education and exposure to the world would have done better.
Where as the blame squarely lays on Uhuru, The people youve alluded driving new porsches are ODM senior members and BBI apparatchiks and thats thanks to Railas handshake . You didn't get it why ODM came out gun blazing defending the graft ?
https://www.the-star.co.ke/news/2020-08-24-ruto-raila-clash-on-kemsa-use-of-covid-19-funds/
Elgeyo Marakwet Senator Kipchumba Murkomen and Soy MP Caleb Kositany both accused ODM of rushing to defend Kemsa, claiming senior party members are deeply involved in the tenders being questioned.
“I understand why the delinquent ODM secreta-general is ferociously defending the leeches who have sucked resources from desperate Covid-19 victims at Kemsa. First, ODM thinks they are more government than Jubilee. Secondly, four senior ODM members are the said ghost 'suppliers'. Bure Kabisa,” Murkomen said in a tweet.
“The reason why ODM is viciously fighting any attempts by the members of the public to ask questions is because some of its senior members are deeply in the mess, as happened in corruption allegations at the Kenya Ports Authority where some of the same names being mentioned in Kemsa scandal were also in the KPA one,” Kositany told the Star on the phone.
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I have no idea who stole the cash apart from the relatives and friends of Uhuru mentioned in the scams. If ODM or even any other party officials are involved, it is their own making. I never received a penny from the loot.
Also when mentioning ODM officials please place some names and the companies involved. It seems you and Murkomen are in the same league making claims with no evidence. At least Uhuru's buddies and their companies have been exposed. Now waiting for the ODM goons names.
Where as the blame squarely lays on Uhuru, The people youve alluded driving new porsches are ODM senior members and BBI apparatchiks and thats thanks to Railas handshake . You didn't get it why ODM came out gun blazing defending the graft ?
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I have no idea who stole the cash apart from the relatives and friends of Uhuru mentioned in the scams. If ODM or even any other party officials are involved, it is their own making. I never received a penny from the loot.
Also when mentioning ODM officials please place some names and the companies involved. It seems you and Murkomen are in the same league making claims with no evidence. At least Uhuru's buddies and their companies have been exposed. Now waiting for the ODM goons names.
Where as the blame squarely lays on Uhuru, The people youve alluded driving new porsches are ODM senior members and BBI apparatchiks and thats thanks to Railas handshake . You didn't get it why ODM came out gun blazing defending the graft ?
https://www.kenyans.co.ke/news/55468-junet-and-gladys-wanga-named-ksh-7b-covid-19-tender-moses-kuria-video
Gatundu South MP, Moses Kuria, on Monday, July 19, named two Orange Democratic Movement (ODM) MPs in a Ksh7 billion scandal.
Moses Kuria revealed that Suna East Member of Parliament Junet Mohamed and Homa Bay Woman Representative Gladys Wanga were allegedly part of the Kenya Medical Supply Authority (KEMSA) scandal.
"The PPE tender was given to an individual in single sourcing, when investigations were conducted, Junet Mohammed and Gladys Wanga were given that Ksh7 billion tender.
"If this was the time we had an opposition, this matter would have been discussed everywhere, but these are the consequences of lacking an opposition," he stated.
The Legislator compared the alleged Ksh7 billion scam to the Ksh5.8 billion Goldenberg scandal that received attention for a number of years.
Kuria was puzzled how the said scandal was flying under the radar despite it being a huge graft case in the country.
He urged Ministry of Health Cabinet Secretary Mutahi Kagwe to stop touring the country and focus on solving the mstery behid the scandal.
The MP went as far back as when the independence party KANU united with KADU and noted that the period was marked by some of the country's biggest scandals, most notably the looting of land.
Kuria warned that the union of ODM and the Jubilee Party could witness the same looting and even greater than previous ones experienced in the history of the country.
He added that the Kenya Medical Supply Authority (KEMSA) could be a first of many to come in the country.
KEMSA has been on the spotlight after the recently unearthed procurement and financial irregularities that jeopardised more than Ksh100 billion of donor funds as well as allegations of misuse of funds meant to boost the fight against Covid-19.
The "selective implementation of the law" witnessed in Western Kenya where Deputy President William Ruto's allies were tear-gassed was also highlighted by Moses Kuria.
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Very cheap of Moses Kuria. No mention of which companies and the directors involved. Even no document to prove any such tender not even allotement letter exists. Anyone can make such a claim. At least NTV provided for the documents and even MoH never denied the authecity of the documents provided for by NTV. Moses Kuria is in a postion to do better and even table his claims in parliament and not in a local baraza.
https://www.kenyans.co.ke/news/55468-junet-and-gladys-wanga-named-ksh-7b-covid-19-tender-moses-kuria-video
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Very cheap of Moses Kuria. No mention of which companies and the directors involved. Even no document to prove any such tender not even allotement letter exists. Anyone can make such a claim. At least NTV provided for the documents and even MoH never denied the authecity of the documents provided for by NTV. Moses Kuria is in a postion to do better and even table his claims in parliament and not in a local baraza.
https://www.kenyans.co.ke/news/55468-junet-and-gladys-wanga-named-ksh-7b-covid-19-tender-moses-kuria-video
an you table the names of directors and companies involved as exposed by NTV ?
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Yes, precisely. The funds would have helped banks - lend it cheaply at agreed rate or also reschedule their loans.
The cash Kenya received from donors and the WB was not only for purchase of MAfya house supplies, but exactly for this purpose to help out SMEs. These are the backbone of any country in the world. Now 34 people are tarmacking and some of our people are now busy ordering the latest Porsche in town.
Uhuru was and is a total failure. Even Arap Moi with his limited education and exposure to the world would have done better.
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Murathe took the lion share. The rest including Uhuru's two nephews or nieces took some bones.
an you table the names of directors and companies involved as exposed by NTV ?
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Murathe took the lion share. The rest including Uhuru's two nephews or nieces took some bones.
an you table the names of directors and companies involved as exposed by NTV ?
Okei and Kadudu is here telling us that Murathe and Gachoka are Uhuru Buddies but lately I see them cutting cake together and celebrating Birthdays with Raila
(https://cdn06.allafrica.com/download/pic/main/main/csiid/00540496:4bd3377ffd652fda06c29e76bff2cc36:arc614x376:w735:us1.jpg)
(https://images.vfl.ru/ii/1598263572/d6f797e6/31432278.jpg)
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Uhuru is to blame of course. Murathe is a wheeler dealer using his state house connections to win contracts. Raila has been promised a Mandela moment by Murathe - so expect ODM to defend them. And obviously they are also getting some bone - but the steak stays with Uhuru.
Murathe took the lion share. The rest including Uhuru's two nephews or nieces took some bones.
an you table the names of directors and companies involved as exposed by NTV ?
Okei and Kadudu is here telling us that Murathe and Gachoka are Uhuru Buddies but lately I see them cutting cake together and celebrating Birthdays with Raila
(https://cdn06.allafrica.com/download/pic/main/main/csiid/00540496:4bd3377ffd652fda06c29e76bff2cc36:arc614x376:w735:us1.jpg)
(https://images.vfl.ru/ii/1598263572/d6f797e6/31432278.jpg)
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Here you have Tony Gachoka in a series of tweets denying his brother and Murathe
https://kenyainsights.com/david-murathe-was-behind-covid-19-billionaires-scandal-with-peter-kenneths-funding-tony-gachoka-reveals/
Tony Gachoka
@TonyGachoka
Kenya Good Morning.
When will Peter Kenneth who funded conmen to KEMSA ever speak out against the Covid19 scandal. He is part of David Murathe.
TG
7:48 AM · Aug 23, 2020
Tony Gachoka
@TonyGachoka
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Aug 23, 2020
David Murathe was behind the Covid19 billionaires scandal with Peter Kenneth funding. TG
Uhuru @StateHouseKenya
Baba @RailaOdinga
Paul @Paul_Muite
Hon. William Kabogo
@honkabogo
If true, no wonder the new found love of the duo. Let me assure Kenyans one day all the billions stolen @KEMSA return back to grow the nation. Am not a witch nor a prophet but wait.
10:38 AM · Aug 23, 2020
Tony Gachoka
@TonyGachoka
David Murathe is - in my mind the Biggest liability to Uhuru, the Handshake and Kenya. TG
9:42 AM · Aug 23, 2020
Tony Gachoka
@TonyGachoka
Peter Kenneth FUNDED Murathe with the money to attempt the mass looting of Covid19 billions. It took Great courage for Mutahi Kagwe to cancel the 4.5 billion tender that EACC IS Investigating.
TG
10:35 AM · Aug 23, 2020
Tony Gachoka
@TonyGachoka
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Aug 23, 2020
Peter is associated with the Bank that funded the Covid19 billionaires. TG
Cc. @Paul_Muite
donald
@donokaya
Mayfair bank
11:22 AM · Aug 23, 2020
Tony Gachoka
@TonyGachoka
The time for politics will come BUT Kenya cannot allow impunity anymore; stopping a tender DOES NOT excuse the illegality surrounding the issuance of SEVERAL commitment letters by KEMSA to Murathe and his kind. Why Expose my brother Uhuru to this nonsense ????
TG
11:25 AM · Aug 23, 2020
Tony Gachoka
@TonyGachoka
Kenyans: Tony Gachoka's brother William mentioned is this scandal is an adult. independent of me in all ways but love. It is painful for me BUT I condemn EVERYBODY involved in the Covid19 scandal. I Know this for a fact Murathe may destroy my own brother with this BULLSHIT!!!
TG
11:35 AM · Aug 23, 2020
Kabando Wa Kabando
@Wakabando
UNBELIEVABLE!
NONSENSE!
#BbiDetergent
Dear my friend Rt.Hon. Raila Odinga, please disown the criminals around you. As elder statesman, you owe us leadership beyond reproach, Sir. Let the crooks carry their cross! Retract also your “clean bill of health” on NYS.
KIMANI ICHUNG'WAH
@KIMANIICHUNGWAH
MAfya House Scandal=Kemsa HEIST.Just look at the main players,THE SAME,save for the newly recruited ODM MPs who got just a piece to help with the defence and sanitization campaign.REALthieves are the same and the defence narratives the same as those sold around Mafya Hse scandal.
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This covid-19 will take the sails off murathe and his wheel dealing - and PK too. Raila and ODM have been ensared. They are desperate for people like Murathe and will defend it them.
It doesn't matter it's covid donor funds - very deadly optics - both locally and internationally.
Tony Gachoka need something to eat - Murathe has to share the loot.
Here you have Tony Gachoka in a series of tweets denying his brother and Murathe
https://kenyainsights.com/david-murathe-was-behind-covid-19-billionaires-scandal-with-peter-kenneths-funding-tony-gachoka-reveals/
Tony Gachoka
@TonyGachoka
Kenya Good Morning.
When will Peter Kenneth who funded conmen to KEMSA ever speak out against the Covid19 scandal. He is part of David Murathe.
TG
7:48 AM · Aug 23, 2020
Tony Gachoka
@TonyGachoka
·
Aug 23, 2020
David Murathe was behind the Covid19 billionaires scandal with Peter Kenneth funding. TG
Uhuru @StateHouseKenya
Baba @RailaOdinga
Paul @Paul_Muite
Hon. William Kabogo
@honkabogo
If true, no wonder the new found love of the duo. Let me assure Kenyans one day all the billions stolen @KEMSA return back to grow the nation. Am not a witch nor a prophet but wait.
10:38 AM · Aug 23, 2020
Tony Gachoka
@TonyGachoka
David Murathe is - in my mind the Biggest liability to Uhuru, the Handshake and Kenya. TG
9:42 AM · Aug 23, 2020
Tony Gachoka
@TonyGachoka
Peter Kenneth FUNDED Murathe with the money to attempt the mass looting of Covid19 billions. It took Great courage for Mutahi Kagwe to cancel the 4.5 billion tender that EACC IS Investigating.
TG
10:35 AM · Aug 23, 2020
Tony Gachoka
@TonyGachoka
·
Aug 23, 2020
Peter is associated with the Bank that funded the Covid19 billionaires. TG
Cc. @Paul_Muite
donald
@donokaya
Mayfair bank
11:22 AM · Aug 23, 2020
Tony Gachoka
@TonyGachoka
The time for politics will come BUT Kenya cannot allow impunity anymore; stopping a tender DOES NOT excuse the illegality surrounding the issuance of SEVERAL commitment letters by KEMSA to Murathe and his kind. Why Expose my brother Uhuru to this nonsense ????
TG
11:25 AM · Aug 23, 2020
Tony Gachoka
@TonyGachoka
Kenyans: Tony Gachoka's brother William mentioned is this scandal is an adult. independent of me in all ways but love. It is painful for me BUT I condemn EVERYBODY involved in the Covid19 scandal. I Know this for a fact Murathe may destroy my own brother with this BULLSHIT!!!
TG
11:35 AM · Aug 23, 2020
Kabando Wa Kabando
@Wakabando
UNBELIEVABLE!
NONSENSE!
#BbiDetergent
Dear my friend Rt.Hon. Raila Odinga, please disown the criminals around you. As elder statesman, you owe us leadership beyond reproach, Sir. Let the crooks carry their cross! Retract also your “clean bill of health” on NYS.
KIMANI ICHUNG'WAH
@KIMANIICHUNGWAH
MAfya House Scandal=Kemsa HEIST.Just look at the main players,THE SAME,save for the newly recruited ODM MPs who got just a piece to help with the defence and sanitization campaign.REALthieves are the same and the defence narratives the same as those sold around Mafya Hse scandal.
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RV, what you say is the truth seems Murathe Wil Gachoka and Peter Keneth are eating the loot and have forgotten about their brother Tony Gachoka . Share the loot .
https://businesstoday.co.ke/who-owns-mayfair-bank-kenyans-earn-billions-from-mayfair-bank-sale/
MayFairbank board chairman Anjay V. Patel said all existing shareholders will continue holding some stake in the institution, an indication that the bank sold consolidated stake from all its shareholders.
The local investors in the bank have become billions of shillings richer. Those who have made a fortune from the deal include former Gatanga MP Peter Kenneth, who is among Mayfair Bank’s 25 shareholders, and a principal member of the institution.
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Mr Kenneth is the founder of Mayfair Group, which owns Mayfair Insurance – one of the key shareholders of Mayfair Bank with 50,000 shares. Other investors in the bank are Nairobi lawyer Ambrose Rachier – also a director of Mayfair Insurance – and the family of Mohamed Jaffer, the owner of Mombasa-based Grain Bulk Handlers.
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I doubt Will Gachoka ate that much - his brother won't be complaining. Gachoka bro is just Murathe PA. Murathe made the phone calls using the red telephone and unlocked the funds. Obviously he didn't sign anything. So Will Gachoka will go to prison if it become hot. If MayFair handled the money - they are going to be in trouble - and so are the fronts - like the Luo Lawyer.
Murathe will walk scotfree - Gachoka Will is likely to end in prison.
COVID scandal is going to be hot potato - locally and internationally. It's morally depraved to profit from such a pandemic.
RV, what you say is the truth seems Murathe Wil Gachoka and Peter Keneth are eating the loot and have forgotten about their brother Tony Gachoka . Share the loot .
https://businesstoday.co.ke/who-owns-mayfair-bank-kenyans-earn-billions-from-mayfair-bank-sale/
MayFairbank board chairman Anjay V. Patel said all existing shareholders will continue holding some stake in the institution, an indication that the bank sold consolidated stake from all its shareholders.
The local investors in the bank have become billions of shillings richer. Those who have made a fortune from the deal include former Gatanga MP Peter Kenneth, who is among Mayfair Bank’s 25 shareholders, and a principal member of the institution.
Loading...
Mr Kenneth is the founder of Mayfair Group, which owns Mayfair Insurance – one of the key shareholders of Mayfair Bank with 50,000 shares. Other investors in the bank are Nairobi lawyer Ambrose Rachier – also a director of Mayfair Insurance – and the family of Mohamed Jaffer, the owner of Mombasa-based Grain Bulk Handlers.
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Na bado siku ya mwisho kila mtu atamkana mwenzake. They will finish each other we just need to bury them.
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The first to sing or be sunked is the Luo laywer girlfriend who was used. She is the Kabura of the scandal. The ngirita.
Na bado siku ya mwisho kila mtu atamkana mwenzake. They will finish each other we just need to bury them.
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Hapa murathe atajua kichapo cha mbwa msikitini au kuchapwa kama burukenge. Uhuru hasn't appeared for 2 days publicly its said he suffered a melt down drunk 2 bottles of Jameson, he can't believe kikulacho ki nguoni mwake. Its said that murathe lured Uhuru's Kin as insurance forecasting the outcome.
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You are too hopeful that this scam will have consequences. It is another NYS I. Kelele mingi and the billions have disappered forever. Remember the dam scandal? How many billions were lost? The is was buried under the carpet. Money gone and some RV guys feasted with no consequences. TNA and UPR exposing each others scams.
That Luo bitch just like Kabura busy enjoying her share of the loot. Untouchable.
The first to sing or be sunked is the Luo laywer girlfriend who was used. She is the Kabura of the scandal. The ngirita.
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Nope for NYS 1 and 2, dams, and many scandals including madvd one - people go to prison - after serous trial. The problem is murathes, rutos, rails, uhuru - get away scotfree - because they never sign anything - and knows how to launder their money - leaving no trace. This they learnt from Kenyatta and Mois...that is what power give you. Kenyatta officially only owned 4 acres in Ichwari - the rest were owned by Mama ngina and others. Moi officially owned I think a petrol station in Nakuru and his farm.
This lady will go to prison with Murathe PA - and KEMSA crowd. The CEO and many of them are already home.
There is money and paper trail leading to them. They are going to lose everything they have - and eventually go to jail.
Murathe will go scotfree. Nothing will connect him.
MaDVD ate Cemetry 300m - and Kirui - madDVD PS - my homie went to jail - with Gakuo (Nairobi County Clerk) dying there.
You are too hopeful that this scam will have consequences. It is another NYS I. Kelele mingi and the billions have disappered forever. Remember the dam scandal? How many billions were lost? The is was buried under the carpet. Money gone and some RV guys feasted with no consequences. TNA and UPR exposing each others scams.
That Luo bitch just like Kabura busy enjoying her share of the loot. Untouchable.
The first to sing or be sunked is the Luo laywer girlfriend who was used. She is the Kabura of the scandal. The ngirita.
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Covid money was eaten by kenyatta criminal enterprise. Murathe is just a conduit, conveyor belt for Uhuru. Kenyatta family is trying to take the spotlight off by pinning Murathe and offcourse murathe does not care. He hold no office. At best all you can do is sue him.
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I saw the hustler complaining about money being stolen and nearly fell out of my chair laughing.
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Covid money was eaten by kenyatta criminal enterprise. Murathe is just a conduit, conveyor belt for Uhuru. Kenyatta family is trying to take the spotlight off by pinning Murathe and offcourse murathe does not care. He hold no office. At best all you can do is sue him.
So when Murathe eats its Uhuru who has eaten and make sure to remove any ties with Raila . When Murathe endorses Raila - Murathe becomes the " deep state " and Mt Kenya Kingpin . Murathe is now much closer to Raila than you can ever thing and reason being corruption nothing else . They must eat together before 2022 elections as they Know Ruto will be the next president
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I saw the hustler complaining about money being stolen and nearly fell out of my chair laughing.
Well other are not laughing
https://www.the-star.co.ke/news/2020-08-25-why-raila-is-under-fire-over-covid-19-billions/
Why Raila is under fire over Covid-19 billions
Raila Odinga’s ODM has found itself in unfamiliar territory and has gone into firefighting mode following allegations that it is part of a massive cover-up of the alleged looting of Covid-19 billions.
The party has been rocked by internal disquiet since Saturday after it released a statement that appeared to downplay apparent, widely reported theft. It accused the media of engaging in a “sensationalist extravaganza with half-baked information".
That's quite unlike the uncompromising corruption-fighter and his warriors of yesteryear.
The internal outrage and public criticism of the go-slow approach forced Raila to issue a fresh statement on Monday to calm the storm.
However, the new communiqué generated even more heat.
“The opposition has not only failed in its mandate but has taken to fertilising impunity and corruption,” rights activist Cyprian Nyamwamu told the Star.
“Since ODM joined Jubilee [with the 2018 handshake], the government has the boldness of tormenting the citizens… the deep state goons can go on and hurt anyone at any time, knowing that the political consequences are negligible.”
Allies of Deputy President William Ruto also appear to have been gifted a perfect opportunity to rubbish Raila’s reform, take-no-prisoners credentials.
Powerful political figures, including a vocal Jubilee politician, are among those who benefited from the Covid-19 cash.
“It is so strange there is no Jubilee leader in the National Assembly or Senate who has come out to defend the Kemsa Covid-19 heist, not even [secretary general Raphael] Tuju. Ironically ODM party leader and SG [Edwin Sifuna] are busy outdoing each other as to who can give the best defence to the looters,” Elgeyo Marakwet Senator Kipchumba Murkomen said.
Raila has over the years built his political profile on uncompromising reforms, anti-corruption, anti-impunity, equality and clean governance.
The Star has established the statement issued by ODM secretary general Sifuna over the weekend was criticised by a number of party bigwigs who saw it as indirect support of the kind of impropriety the party had been fighting all along.
More confounding is the surprise about-turn by the former prime minister on how graft cases should be handled.
Like Sifuna, Raila said that investigating agencies should wait for a thorough audit of the Covid-19 funds before moving in.
On Monday, a record 25 lobby groups demanded President Uhuru Kenyatta urgently address the nation on the allegations of corruption and announce transparency and accountability measures he promises to undertake.
Senate Minority leader James Orengo was the first – within ODM - to punch holes into Sifuna’s statement, saying Kenyans are justified in expressing outrage over the theft of Covid-19 funds.
“I admire [South African President Cyril] Ramaphosa’s understanding of the anger against the people who may have pocketed funds to fight the pandemic," he said referring to South Africa's own corruption problems.
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These businesses are not coming back till landlords also sober up and renegotiate rents downward even by half. Most MSEs have been living off savings which are now running dry- by December we will have depleted informal borrowing and it will be total burst.
With kids being taken to the villages and out of school, cakes, bread, milk and foodstuff consumption has dipped. A bakery like such easily hits 100+ thousand in power in a month. So with stock not moving for a week, you are done. Court cases will collapse her totally.
People are still struggling to swallow their pride and internalise that this shit has hit businesses hard and some will never recover. Best is to run away from crazy rents- 3,4 months accumulation eats all your assets to auctioneers.
I have guys still holding to stalls despite unavailable mtumba stocks and all they are telling me is how god will see them through.
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Instead of government formulating a rescue plan for SMEs, they initiated Kazi Mtaani . An ill thought out policy that's not sustainable and does very little to resuscitate the economy. The true effects of cratered economy is now full blown.
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Yes, it very bad. But landlords also have banks on their neck. Did I read Sphire Bank has 90% default. COVID plus Political mismanagement happening now - will send kenya economy to the dogs.
These businesses are not coming back till landlords also sober up and renegotiate rents downward even by half. Most MSEs have been living off savings which are now running dry- by December we will have depleted informal borrowing and it will be total burst.
With kids being taken to the villages and out of school, cakes, bread, milk and foodstuff consumption has dipped. A bakery like such easily hits 100+ thousand in power in a month. So with stock not moving for a week, you are done. Court cases will collapse her totally.
People are still struggling to swallow their pride and internalise that this shit has hit businesses hard and some will never recover. Best is to run away from crazy rents- 3,4 months accumulation eats all your assets to auctioneers.
I have guys still holding to stalls despite unavailable mtumba stocks and all they are telling me is how god will see them through.
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Yes, it very bad. But landlords also have banks on their neck. Did I read Sphire Bank has 90% default. COVID plus Political mismanagement happening now - will send kenya economy to the dogs.
These businesses are not coming back till landlords also sober up and renegotiate rents downward even by half. Most MSEs have been living off savings which are now running dry- by December we will have depleted informal borrowing and it will be total burst.
With kids being taken to the villages and out of school, cakes, bread, milk and foodstuff consumption has dipped. A bakery like such easily hits 100+ thousand in power in a month. So with stock not moving for a week, you are done. Court cases will collapse her totally.
People are still struggling to swallow their pride and internalise that this shit has hit businesses hard and some will never recover. Best is to run away from crazy rents- 3,4 months accumulation eats all your assets to auctioneers.
I have guys still holding to stalls despite unavailable mtumba stocks and all they are telling me is how god will see them through.
Just as it happened with MOI in the 90s with corruption ,, like Foreign aid and borrowing coupled with death of critical sectors the likes of Tourism and Cash crops main foreign exhange earners . Same thing is happening Now . The next president (All indicators pointing out to Rut) will have an easy time resurrecting the economy once favorable conditions stabilizes - Kibaki became the President at the right time , he is seen to have performed because Kenyans had been conditioned to think things will never improve .
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This is a myth. The data we have is that most loans are for household consumption and car loans. Most properties are built hard cash.
Except for few upcoming estates and corporately financed properties, rest are loan free by slum lords. Probably as collateral.
Yes, it very bad. But landlords also have banks on their neck. Did I read Sphire Bank has 90% default. COVID plus Political mismanagement happening now - will send kenya economy to the dogs.
These businesses are not coming back till landlords also sober up and renegotiate rents downward even by half. Most MSEs have been living off savings which are now running dry- by December we will have depleted informal borrowing and it will be total burst.
With kids being taken to the villages and out of school, cakes, bread, milk and foodstuff consumption has dipped. A bakery like such easily hits 100+ thousand in power in a month. So with stock not moving for a week, you are done. Court cases will collapse her totally.
People are still struggling to swallow their pride and internalise that this shit has hit businesses hard and some will never recover. Best is to run away from crazy rents- 3,4 months accumulation eats all your assets to auctioneers.
I have guys still holding to stalls despite unavailable mtumba stocks and all they are telling me is how god will see them through.
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The rental market is already correcting itself. Vacancy rates are rising and new tenants are paying cheaper rates. CBD is now littered with signs of vacancy even in formally prime areas. The office rental market is especially hard hit. Places like South B, apartments that were fetching 40k are now about 25k.
Most of the SMEs have closed or will close for good. New business models are a must to survive in this economy.