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36 Pages«<343536
Nakumatt: Another ailing Kenyan company
sparkly
#701 Posted : Friday, January 10, 2020 8:22:09 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,487
Location: Enk are Nyirobi


How did they execute money laundering after the closure of Charterhouse?
Life is short. Live passionately.
kawi254
#702 Posted : Friday, January 10, 2020 9:56:10 PM
Rank: Member


Joined: 2/20/2015
Posts: 360
Location: Nairobi
sparkly wrote:


How did they execute money laundering after the closure of Charterhouse?


The relathieves register offshore companies that source the imported merchandise and you (over)pay these companies...
sqft
#703 Posted : Friday, January 10, 2020 10:06:08 PM
Rank: New-farer


Joined: 1/10/2015
Posts: 91
Location: Kenya


So nakumatt had zero assets. The stores were leased, even the shelves, check out POS machines etc were also leased, and the stock belonged to the suppliers.
Ericsson
#704 Posted : Saturday, January 11, 2020 10:20:01 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,862
Location: NAIROBI
sqft wrote:


So nakumatt had zero assets. The stores were leased, even the shelves, check out POS machines etc were also leased, and the stock belonged to the suppliers.


The directors achieved their mission which was to use Nakumatt as a conduit to fleece suppliers,creditors and banks their money and use it for their personal interest
alma1
#705 Posted : Saturday, January 11, 2020 12:50:37 PM
Rank: Elder


Joined: 9/19/2015
Posts: 2,587
Location: hapo
Ericsson wrote:
sqft wrote:


So nakumatt had zero assets. The stores were leased, even the shelves, check out POS machines etc were also leased, and the stock belonged to the suppliers.


The directors achieved their mission which was to use Nakumatt as a conduit to fleece suppliers,creditors and banks their money and use it for their personal interest


You are right.

It was clear from the beginning.

It is still happening with Naivas, and the Quickmarts.

These retails so called giants have the same game plan.

Get inventory. Promote the inventory. Pay after 180 days for the inventory. Don't buy property. Lease property using the name "anchor" tenant.

This game has a law in other countries...Not in Kenya.


Invoice laws should be very simple. 30 days from invoice. I think that's the law at least in the US and the UK it's 15 days.

But in Kenya it's when the retail so called giant decides.

Instead of Itumbi getting teargassed and Didi Nyoro quoting Africa and Uhuru getting high and Raila becoming an AU shit, we need laws .

Laws to protect small businesses from these thieves.

15 days from invoice to payment is perfect.

I promise and mark this post.

Naivas will do the same

As long as KRA is insisting on under 400k tax, then their needs to be a way for supliers to be protected from these people.

But heck no.

Kumira kumira. BBI. etc

Nonsence!!!!!
Thieves are not good people. Tumeelewana?
Lolest!
#706 Posted : Saturday, January 11, 2020 1:34:39 PM
Rank: Elder


Joined: 3/18/2011
Posts: 11,836
Location: Kianjokoma

So this wasn't really a supermarket.

System ya majambazi
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
Impunity
#707 Posted : Saturday, January 11, 2020 7:02:49 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,191
Location: Masada
Luwere.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

Ericsson
#708 Posted : Monday, January 13, 2020 7:41:44 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,862
Location: NAIROBI
alma1 wrote:
Ericsson wrote:
sqft wrote:


So nakumatt had zero assets. The stores were leased, even the shelves, check out POS machines etc were also leased, and the stock belonged to the suppliers.


The directors achieved their mission which was to use Nakumatt as a conduit to fleece suppliers,creditors and banks their money and use it for their personal interest


You are right.

It was clear from the beginning.

It is still happening with Naivas, and the Quickmarts.

These retails so called giants have the same game plan.

Get inventory. Promote the inventory. Pay after 180 days for the inventory. Don't buy property. Lease property using the name "anchor" tenant.

This game has a law in other countries...Not in Kenya.


Invoice laws should be very simple. 30 days from invoice. I think that's the law at least in the US and the UK it's 15 days.

But in Kenya it's when the retail so called giant decides.

Instead of Itumbi getting teargassed and Didi Nyoro quoting Africa and Uhuru getting high and Raila becoming an AU shit, we need laws .

Laws to protect small businesses from these thieves.

15 days from invoice to payment is perfect.

I promise and mark this post.

Naivas will do the same

As long as KRA is insisting on under 400k tax, then their needs to be a way for supliers to be protected from these people.

But heck no.

Kumira kumira. BBI. etc

Nonsence!!!!!


Uhuru,Raila, Itumbi,Ndindi are only interested in their personal businesses to thrive.

Ericsson
#709 Posted : Tuesday, January 14, 2020 10:33:17 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,862
Location: NAIROBI
Dear @AmanaCapitalKE
, my investment in your unit trust was reduced by over 30% on account of @Nakumatt.Given the above, can I assume that my investment has gone down the drain?
xtina
#710 Posted : Tuesday, January 14, 2020 10:52:37 AM
Rank: Member


Joined: 6/26/2008
Posts: 282
Circa 2014-2016, I remember how we used to lust for Nakumatt and we kept hoping it would go public so that we buy dem shares Good times......
kayhara
#711 Posted : Tuesday, January 14, 2020 4:16:46 PM
Rank: Veteran


Joined: 5/5/2011
Posts: 1,038
Info from unreliable source says nakumatt had another trick eg for citymall nyali, every developer wanted nakumatt to be their anchor tenant since it came with its own ecosystem including books first, bata , etc nakumatt would collect all rent in a mall complex and pay the landlord in 90 days, most landlords agreed since they wanted the mighty nakumatt and all the ecosystem, nakumatt also used to somehow raise real estate prices and rents of neighbouring developments.
To Each His Own
Thitifini
#712 Posted : Tuesday, January 14, 2020 7:31:07 PM
Rank: Member


Joined: 1/15/2015
Posts: 596
Location: Kenya
Ericsson wrote:
alma1 wrote:
Ericsson wrote:
sqft wrote:


So nakumatt had zero assets. The stores were leased, even the shelves, check out POS machines etc were also leased, and the stock belonged to the suppliers.


The directors achieved their mission which was to use Nakumatt as a conduit to fleece suppliers,creditors and banks their money and use it for their personal interest


You are right.

It was clear from the beginning.

It is still happening with Naivas, and the Quickmarts.

These retails so called giants have the same game plan.

Get inventory. Promote the inventory. Pay after 180 days for the inventory. Don't buy property. Lease property using the name "anchor" tenant.

This game has a law in other countries...Not in Kenya.


Invoice laws should be very simple. 30 days from invoice. I think that's the law at least in the US and the UK it's 15 days.

But in Kenya it's when the retail so called giant decides.

Instead of Itumbi getting teargassed and Didi Nyoro quoting Africa and Uhuru getting high and Raila becoming an AU shit, we need laws .

Laws to protect small businesses from these thieves.

15 days from invoice to payment is perfect.

I promise and mark this post.

Naivas will do the same

As long as KRA is insisting on under 400k tax, then their needs to be a way for supliers to be protected from these people.

But heck no.

Kumira kumira. BBI. etc

Nonsence!!!!!


Uhuru,Raila, Itumbi,Ndindi are only interested in their personal businesses to thrive.



Who isn't?

60% Learning, 30% synthesizing, 10% Debating
sparkly
#713 Posted : Tuesday, January 14, 2020 9:27:01 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,487
Location: Enk are Nyirobi
kayhara wrote:
Info from unreliable source says nakumatt had another trick eg for citymall nyali, every developer wanted nakumatt to be their anchor tenant since it came with its own ecosystem including books first, bata , etc
nakumatt would collect all rent in a mall complex and pay the landlord
in 90 days,most landlords agreed since they wanted the mighty nakumatt and all the ecosystem, nakumatt also used to somehow raise real estate prices and rents of neighbouring developments.


This is not true.
Life is short. Live passionately.
whiteowl
#714 Posted : Thursday, January 16, 2020 11:32:41 AM
Rank: Veteran


Joined: 4/16/2014
Posts: 1,384
Location: Bohemian Grove
sqft wrote:


So nakumatt had zero assets. The stores were leased, even the shelves, check out POS machines etc were also leased, and the stock belonged to the suppliers.


There was also the guy who cleaned his money there so they always had operating cash to cover up any "insider lending " but once he stopped the music stopped.
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