CS Muchiri, the Zuku conman

1776

Village Sponsor
#24
Zuku managed to raise 11b (130m usd) from investors. They told investors that in 5 years, they'll break even.
The 11b was to plug the deficit in the 5-year master plan.
Within 7 months, there was a big black hole in the system. Alden and the Spanish Armada left.
In came a guy called Santiago who did absolutely nothing.
Meanwhile boardroom wars continued. Bell was selling Simbanet to a company which he secretly had shares in and was trying to buy of the minorities.
The price of the buyout was, according to the minority shareholders Mucheru and Co, too low and Bell was getting it for a song.
They went to court. All of a sudden, KRA wants billions from Bell for unpaid taxes. It got so bad Bell had to duck Kenya for a while following death threats.
Right now Simbanet was sold to Synergy something but their is still a case.
 

WuTang

Village Chief
#26
Zuku managed to raise 11b (130m usd) from investors. They told investors that in 5 years, they'll break even.
The 11b was to plug the deficit in the 5-year master plan.
Within 7 months, there was a big black hole in the system. Alden and the Spanish Armada left.
In came a guy called Santiago who did absolutely nothing.
Meanwhile boardroom wars continued. Bell was selling Simbanet to a company which he secretly had shares in and was trying to buy of the minorities.
The price of the buyout was, according to the minority shareholders Mucheru and Co, too low and Bell was getting it for a song.
They went to court. All of a sudden, KRA wants billions from Bell for unpaid taxes. It got so bad Bell had to duck Kenya for a while following death threats.
Right now Simbanet was sold to Synergy something but their is still a case.
That's why the company cannot grow or improve the quality of its services. Internal wrangles.
 

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