Nipate
Forum => Kenya Discussion => Topic started by: RV Pundit on November 27, 2020, 12:38:31 PM
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CENTUM has reported KSh1.98 Billion Half-Year Loss for the period that ended on 30th September 2020. The biggest loss in the history of the company
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The problem with entities like Centum is that they live from political leverage. Come 2022 and Centum might take the same route like Transcentury.
Already the coal plant in Lamu is dead with all financers having jump ship.
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Yes Kirubi has knelt before Moi then Kibaki then Uhuru - and that is how business survive - patronage from gov.
The problem with entities like Centum is that they live from political leverage. Come 2022 and Centum might take the same route like Transcentury.
Already the coal plant in Lamu is dead with all financers having jump ship.
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Centum has been revaluing illiquid asset like real estate and that's what been propping up profits. Centum has sold its cash cows, coca cola bottlers, kenya wine agencies and invested on real estate e.g two rivers and vipingo . Their investment on sidian bank has been disastrous . Mworia is out there parroting that centum has a "land bank" i.e overpriced real estate that they can't liquidate quickly. Basically centum doesn't have any key competence in specific field.
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Centum has been revaluing illiquid asset like real estate and that's what been propping up profits. Centum has sold its cash cows, coca cola bottlers, kenya wine agencies and invested on real estate e.g two rivers and vipingo . Their investment on sidian bank has been disastrous . Mworia is out there parroting that centum has a "land bank" i.e overpriced real estate that they can't liquidate quickly. Basically centum doesn't have any key competence in specific field.
How do these companies get through GOING CONCERN evaluation?
Kirubi like every other KE oligarch has become senile over time. His ego is so big to let someone else takeover and run the company. He will die with the company. Investing in a MALL in kenya where midro crass is fragile and heavily leveraged is nonsense. I could smell this from this far but Kirubi could see it coz he is an old school fart that cannot think digital
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Centum has been revaluing illiquid asset like real estate and that's what been propping up profits. Centum has sold its cash cows, coca cola bottlers, kenya wine agencies and invested on real estate e.g two rivers and vipingo . Their investment on sidian bank has been disastrous . Mworia is out there parroting that centum has a "land bank" i.e overpriced real estate that they can't liquidate quickly. Basically centum doesn't have any key competence in specific field.
How do these companies get through GOING CONCERN evaluation?
Kirubi like every other KE oligarch has become senile over time. His ego is so big to let someone else takeover and run the company. He will die with the company. Investing in a MALL in kenya where midro crass is fragile and heavily leveraged is nonsense. I could smell this from this far but Kirubi could see it coz he is an old school fart that cannot think digital
The hustlers call it kusafisha pesa.
FBI call it money laundering
Politicians call it lobbying money.
Kirubi is filthy rich, that a fact you are not .
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Centum has been revaluing illiquid asset like real estate and that's what been propping up profits. Centum has sold its cash cows, coca cola bottlers, kenya wine agencies and invested on real estate e.g two rivers and vipingo . Their investment on sidian bank has been disastrous . Mworia is out there parroting that centum has a "land bank" i.e overpriced real estate that they can't liquidate quickly. Basically centum doesn't have any key competence in specific field.
Mworia is another "Dr" Gachao Kiuna - a pharmacist 8) - who after 2 year as McKinsey "strategic analyst" attempted to replay the miracles at Transcentury. He ended up with a collection of bankruptcies as "assets." Mworia, Kiuna, Mugo Kibati are Ivy League paper tigers that never ran a single successful venture.
Kibati after 2 minutes of fame at Vision 2030 ran EA Cables, Panafrica Insurance, Sanlam, M-Kopa, L.Turkana Windpower, and now Orange Telkom into the ground. Basically a cv of failures with shiny papers from MIT.
Mworia is just a gambler like Kiuna and Kibati. His first gig was Transcentury under Kibaki patronage - then Centum and the series of Kakuzi, Two-Re, Sidian Bank flops. Only a retard could not tell real estate bubble was headed to the dogs - I recall debating here with Pundit and MOON Ki 5 years ago. Together with Britams these geniuses put up a series of malls - complete with asset management department to milk the "redhot" market. A 3rd tier bank like K-Rep really- how was that going to beat Equity?
I would say the Kenya startup scene is ripe for a serious investment banker but Mworia doesn't have the chops for that. Kirubi need to hand over to a local Frank Quattrone - a Jimnah Mbaru type. Likes of Irungu Nyakera was promising but disappeared after few years. These blokes ride out their luck and conflate it with chops until the chickens come home to roost.
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Pundit probably has some glittery papers - Phd in IT management - from Sunderland or some Ivy knockoff. That he hide from us to avoid criticism.
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These are mature investment funds owned by Old Wazee. If you run them - you have to be conservative - and so real estate is number one. So yes all that MIT is basically wasted if you're working for old money. Now if you're talking Silicon Valley venture capitalism - this is where all their MIT/PHD could be used - like Makatiani with his Fanisi capital although he invest in schools and such - but ultimately in Africa - finding a good company to invest in - is nearly impossible.
The model that seem to work - is Bahindi model - come with your MIT - go into family business - try to grow and expand it. Alternatively if you're a hustler start your own thing - and try to grow it up.
Mworia is another "Dr" Gachao Kiuna - a pharmacist 8) - who after 2 year as McKinsey "strategic analyst" attempted to replay the miracles at Transcentury. He ended up with a collection of bankruptcies as "assets." Mworia, Kiuna, Mugo Kibati are Ivy League paper tigers that never ran a single successful venture.
Kibati after 2 minutes of fame at Vision 2030 ran EA Cables, Panafrica Insurance, Sanlam, M-Kopa, L.Turkana Windpower, and now Orange Telkom into the ground. Basically a cv of failures with shiny papers from MIT.
Mworia is just a gambler like Kiuna and Kibati. His first gig was Transcentury under Kibaki patronage - then Centum and the series of Kakuzi, Two-Re, Sidian Bank flops. Only a retard could not tell real estate bubble was headed to the dogs - I recall debating here with Pundit and MOON Ki 5 years ago. Together with Britams these geniuses put up a series of malls - complete with asset management department to milk the "redhot" market. A 3rd tier bank like K-Rep really- how was that going to beat Equity?
I would say the Kenya startup scene is ripe for a serious investment banker but Mworia doesn't have the chops for that. Kirubi need to hand over to a local Frank Quattrone - a Jimnah Mbaru type. Likes of Irungu Nyakera was promising but disappeared after few years. These blokes ride out their luck and conflate it with chops until the chickens come home to roost.
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How do these companies get through GOING CONCERN evaluation?
Kirubi like every other KE oligarch has become senile over time. His ego is so big to let someone else takeover and run the company. He will die with the company. Investing in a MALL in kenya where midro crass is fragile and heavily leveraged is nonsense. I could smell this from this far but Kirubi could see it coz he is an old school fart that cannot think digital
Yes sir! Exactly. Those investments don't pass the smell test.
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There are claims that kirubi lied to south african investors about profitability or viability of two rivers. It seems two rivers is kirubis last stand. I saw his last desperate stand.
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It was HACO-Tiger. He eventually bought it back. Two River - he made a deal with Chinese who constructed it - to own part of it - in liue of being paid construction money.
Kirubi has a son who is big shot in DHL - why he is not keen to come to Kenya and run his father stable? I don't know.
There are claims that kirubi lied to south african investors about profitability or viability of two rivers. It seems two rivers is kirubis last stand. I saw his last desperate stand.
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Kirubi is narcissist. Until he is dead his kids cant be near him. Michuki was a bully and he ruined all his sons. They are low energy fools. Before michuki died he developed properties near windsor. According to sources after pev his foreign partners left him holding the bag. He was so cash straved in his last days. As for two rivers how is it doing? I saw uhuru there dragged by sickly looking kirubi to rescue a sinking titanic
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Two rivers...well there are 5 malls around Runda area..so I am sure it's struggling..but construction is ongoing. It's middle of nowhere..kirubi must develop the 200 acres into apartment and office blocks...so those residences can shop in two rivers.
Kirubi is narcissist. Until he is dead his kids cant be near him. Michuki was a bully and he ruined all his sons. They are low energy fools. Before michuki died he developed properties near windsor. According to sources after pev his foreign partners left him holding the bag. He was so cash straved in his last days. As for two rivers how is it doing? I saw uhuru there dragged by sickly looking kirubi to rescue a sinking titanic
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How are the other malls? Are they doing well?
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only village market is doing great...the iranians have grown it organically...now it bigger and better.
How are the other malls? Are they doing well?
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Kirubi conned the South Africans into buying HACO using inflated sale figures. He blamed his then MD of the company and knowing Kirubi, he must have known what was cooking. Kirubi bought HACO back, but at a cheaper price than he had sold it. So he made a profit in the deal after all.
It was HACO-Tiger. He eventually bought it back. Two River - he made a deal with Chinese who constructed it - to own part of it - in liue of being paid construction money.
Kirubi has a son who is big shot in DHL - why he is not keen to come to Kenya and run his father stable? I don't know.
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It was none other than Polycarp Igathe - the Nairobi Deputy Governor whom Sonko got better of - he is a conman as smooth as Kirubi. I guess he learnt to be smooth operator from Kirubi.
Kirubi conned the South Africans into buying HACO using inflated sale figures. He blamed his then MD of the company and knowing Kirubi, he must have known what was cooking. Kirubi bought HACO back, but at a cheaper price than he had sold it. So he made a profit in the deal after all.
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I wonder why all these man go into business, employ thousands of people, business is risky, it’s not as easy as stealing like Ruto. I own multiple properties here in the USA, never thought I would become a hero for telling my tenants that they are rent free until the pandemic ends. All these people invested thinking Kenya is going to a middle class economy, you cannot do that with the kind of stealing Ruto does.
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I wonder why all these man go into business, employ thousands of people, business is risky, it’s not as easy as stealing like Ruto. I own multiple properties here in the USA, never thought I would become a hero for telling my tenants that they are rent free until the pandemic ends. All these people invested thinking Kenya is going to a middle class economy, you cannot do that with the kind of stealing Ruto does.
Businesses are fine as long they are not too big. We are in the wrong kind of businesses also, not enough makers, lots of rent seekers.
I don't believe an Okuyu will forgive his tenants rent, tell that to the birds.
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I wonder why all these man go into business, employ thousands of people, business is risky, it’s not as easy as stealing like Ruto. I own multiple properties here in the USA, never thought I would become a hero for telling my tenants that they are rent free until the pandemic ends. All these people invested thinking Kenya is going to a middle class economy, you cannot do that with the kind of stealing Ruto does.
Businesses are fine as long they are not too big. We are in the wrong kind of businesses also, not enough makers, lots of rent seekers.
I don't believe an Okuyu will forgive his tenants rent, tell that to the birds.
I doubt FB is rich investor going by the grandiosity. More likely a faker. At least Njamba confess to be slumlord back in Korogocho.
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A truck driver who lives in Lowell Boston slums cannot be rich.
I doubt FB is rich investor going by the grandiosity. More likely a faker. At least Njamba confess to be slumlord back in Korogocho.
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I doubt FB is rich investor going by the grandiosity. More likely a faker. At least Njamba confess to be slumlord back in Korogocho.
I second that. Dude has a chip on his shoulder. His Ruto hate is obsessive.
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My only obsession is thievery, Kalenjins starting with Moi have done terrible damage to Kenya, steal all you want and then become something, it’s a horrible philosophy. Kenyatta did not even help Kenyans like my dad, we were patriotic Kenyans who wanted to make a functioning capitalism and democracy, then came Kalenjins, Kenya has become a horrible place because of these peplee. I think it’s their culture to steal and not initiate or develop.
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Of course it our culture to steal. It's cornerstone of kalenjin to cattle rustle and share the spoil of wars. Kalenjin men are not suppose to burrow the ground like you - like you were a rat - to grow food. We see it. We take it.
Kalenjin culture extol one to raid. It say those coward not to raid die poor. It doesn't talk about those hardworking on their farms growing rich.
My only obsession is thievery, Kalenjins starting with Moi have done terrible damage to Kenya, steal all you want and then become something, it’s a horrible philosophy. Kenyatta did not even help Kenyans like my dad, we were patriotic Kenyans who wanted to make a functioning capitalism and democracy, then came Kalenjins, Kenya has become a horrible place because of these peplee. I think it’s their culture to steal and not initiate or develop.
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That my beef with Ruto - but Pundit claim it personal. Luo pompous arrogance is better than free-for-all looting.
Of course it our culture to steal. It's cornerstone of kalenjin to cattle rustle. Kalenjin men are not suppose to burrow the ground like you - like you were a rat - to grow food. We see it. We take it.
My only obsession is thievery, Kalenjins starting with Moi have done terrible damage to Kenya, steal all you want and then become something, it’s a horrible philosophy. Kenyatta did not even help Kenyans like my dad, we were patriotic Kenyans who wanted to make a functioning capitalism and democracy, then came Kalenjins, Kenya has become a horrible place because of these peplee. I think it’s their culture to steal and not initiate or develop.
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But we NEVER ever steal from our own. We steal from far - from enemies. That is why counties work better. Kalenjin see Nairobi as foreign place to raid :)
That my beef with Ruto - but Pundit claim it personal. Luo pompous arrogance is better than free-for-all looting.
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I love Luos, they love education, they love beautiful things in live. Kalenjins, stupid, even the ones who are able to steal, still look idiotc,
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And yet you have dedicated your life to hating stupid people. I think you have a problem with our easy almost priveleged life under Moi regime. That was best time to be Kalenjin for sure. It's coming soon with Ruto. We will sit on you again for 10 possible 20yrs. And there is nothing you can do.
You fear Kalenjin. You get nightmares when you hear we are about to get power.
Kalenjin political glorious life is coming back - Kalenjin now live in slums - that was anathema under Baba Moi :) - in our village - Ngeny had put every family son into KPTC :) - Too into CID - Koech into Armed force - :) - nearly every Kalenjin with some education was almost assured of a job in public service. And kalenjin kept a tight community circle - as long as you said chamge - you were in. Moi elite schools were admitting kalenjin kids. Scholarship reserved for Kalenjin.
And the icing on the cake - Moi gave Kalenjin permission to steal anything they could :) - land, money, forests, name it. And if you bring issues..we brought arrows..and shaped you back.
Your bailed to the US - to wash and clean old men - and your bitterness multiplied.
I love Luos, they love education, they love beautiful things in live. Kalenjins, stupid, even the ones who are able to steal, still look idiotc,
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Kenya was actually a beautiful country, everyone worked hard , go to school or start a business until Kalenjins hit, steal yourself to the top.. why can’t you compete? You want to kill your fellow Kenyans so you be top? As a guy who love athletes, I have enjoyed watching kalenjin runners,I have enjoyed Gor Mahia, I have enjoyed AFC Leopards, all these is Kenya, stop ste stealing.
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Do you know actually most kenyans regard Kikuyus as thieves. The unsavory kind. Kalenjin we are don't do such kind of stealing. We loot gov. We only raid big things like cattle...never steal sufurias.
Kalenjin never steal. Kikuyu steal.
Kalenjin raid and LOOT. This is kalenjin culture of many centuries and was extolled as the most a man could aim for in life - for without looting - one was bound to die poor.
Kenya was actually a beautiful country, everyone worked hard , go to school or start a business until Kalenjins hit, steal yourself to the top.. why can’t you compete? You want to kill your fellow Kenyans so you be top? As a guy who love athletes, I have enjoyed watching kalenjin runners,I have enjoyed Gor Mahia, I have enjoyed AFC Leopards, all these is Kenya, stop ste stealing.
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I do not fear Kalenjin, I fear the cult and stupidity. Kenya is a big country, I want to leave it better than I found it. Kalenjins stealing, it amazes me. Please stop stealing,, you have land, use the land as a bargaining point, stop fighting.
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We cannot stop until we have devolution. We cannot steal from our selves. That is anathema. But as long as Nairobi is a distant hotspot...it fair game. Nairobi National Park lazima Ruto will subdivide for Kalenjin to also live in Nairobi :)
I do not fear Kalenjin, I fear the cult and stupidity. Kenya is a big country, I want to leave it better than I found it. Kalenjins stealing, it amazes me. Please stop stealing,, you have land, use the land as a bargaining point, stop fighting.
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Honestly, I never thought that was possible.. it’s a process, you look at these peoples eyes and poverty comes in mind. I have sen poverty in Kenya. It’s a horrible situation, my tenants do not have to suffer through that.
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Stop obsessing with the government, I will actually out of mercy suggest things you can do out of government and become very rich, MD, nurse practitioner, day trader, nurse anesthetist, proff, entrepreneur, I hate thieves.
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Ruto is not going to be president. Maybe 2050. It Raila then Gideon. Cool, calm hands. Kalenjin violence is the worst savagery - looting and tribalism even Jomo did it and expect Raila to line up his pockets. It easy finger Murkomen as the greediest pig in the tent waiting for Ruto to be crowned and become new Biwott.
Anyway there is no need to hate or deride entire community- it ingrained culture and waste of time. If FGM is near impossible to uproot how about greed. Let them be and jail few individuals yoy can nail. Ruto, Uhuru, Raila are too smart, too powerful, too privileged to be dealt with.
It like American Caucassians beef with Chinese. They are just as hardworking and 4X as many so it a matter of time. Screaming won't help.
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If Uhuru dies now - Ruto become PORK. Pray for Uhuru :)
Ruto is not going to be president. Maybe 2050. It Raila then Gideon. Cool, calm hands. Kalenjin violence is the worst savagery - looting and tribalism even Jomo did it and expect Raila to line up his pockets. It easy finger Murkomen as the greediest pig in the tent waiting for Ruto to be crowned and become new Biwott.
Anyway there is no need to hate or deride entire community- it ingrained culture and waste of time. If FGM is near impossible to uproot how about greed. Let them be and jail few individuals yoy can nail. Ruto, Uhuru, Raila are too smart, too powerful, too privileged to be dealt with.
It like American Caucassians beef with Chinese. They are just as hardworking and 4X as many so it a matter of time. Screaming won't help.
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I know this sounds impossible, I made my money quickly, as soon as Kibaki took over, land was dirt cheap, I bought land and later sold it at a premium price. It’s the same thing with stocks, I bought all medical related stocks in March, it’s easy money. Kalenjins like to steal, no vision at all.
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Street stereotype. Kikuyu like to steal - almost anything. Gusii are conmen and fraudsters - and will try to game or cheat any system. Somalis are smugglers. Kalenjin are looters - we don't steal - if you to go Kalenjin random home - there is no padlock on the door - but obviously men are expected to raid and loot once in a while in foreign territories like the vikings did. So you can say corruption in distant place like Nairobi is almost encouraged. This I bet is true for many communities - who see gov in Nairobi - as distant and foreign - and this is where counties and devolution come in - because once people realize you're stealing from their own - rather than plundering others - they will object.
I know this sounds impossible, I made my money quickly, as soon as Kibaki took over, land was dirt cheap, I bought land and later sold it at a premium price. It’s the same thing with stocks, I bought all medical related stocks in March, it’s easy money. Kalenjins like to steal, no vision at all.