Niulizie TCL 55 inch and above Kiongozi
:D:D
Hehehe… Am trying to show you vile its a systemic or rather institutional problem that is not just unique to Nakumatt. And yes Choppies bought Ukwala, they even rebranded my fren…
unless the very expensive rebranding exercise was done without the buyout transaction being carried out… they too had cut throat prices but where are they now?..
Clearly you have no history of the retail giants of yester years in Kenya… Ebrahims was big banae usione kale kakibanda Moi avenue udhani that was it. They had branches in Mombasa, Nai and Kisumu…, There was also Jack and Jill… wako wapi saa hii?..
Where is the money to pay people well, when everything is being spent keeping regulators at bay… either as Hongo, tax or some form of licensing fee or other… and the banks waiting on the other end for the crazy interest on loan. you took to capitalize… Damn if you do damn if you dont…
With such conditions they should not expand beyond a few branches because the bigger you are the more disloyal the employees get
When clueless idiots quip moot points on issues that they know nothing about, you get to know that something is terribly wrong somewhere. The media people are simply doing their job, and I don’t get it why you would be so reckless to say such demeaning words when people have lost their lives fighting corruption and tyranny. The astute auditor who lost his life, Mr. James Karanja, was my close friend. We schooled together in high school and I feel deeply appalled when you drop such reckless comments here. He died fighting the good fight. Atul and Mwau definitely played a major role in the collapse but is also very true that the workers were stealing money; and I mean serious mullah. Unscrupulous suppliers colluded with the same workers to claim payment for non-existent deliveries. Heard it from the horse’s mouth, mind you. I lost one of my closest friends, but I believe that justice will be done someday.
Its a human resource and a management issue… Employ and listen to professional advice… hiyo pesa ukitaka kukula peke yako utaangamia,…
You have no option but start treating you workers professionally and demanding some level of professional responsibility coupled with the right mix of incentives of rewards and punishments…
Once you scale, you can no longer keep running it like a kibanda…
that’s a big lie to keep the money hidden. Uibie mhindi milioni moja daily na asijue. Kawenangoma??
One guy, a wholesaler i met, used to boast how goods would be stolen while they were being offloaded in mombasa which were later brought to retailers and other wholesalers in Nairobi.
Fvcking lies ! Mhindis stole billions from Kenyan economy and moved it to India/Panama/ Europe etc.
People underestimate the level of power Nakumatt wielded within the economy at the time… People used to take their goods to nakumatt and were willing to pay for shelf space to keep them on display… Infact some people had bought shelf space permanently…
A developer’s feasibility study could collapse if Nakumatt showed no interest in his Shopping mall project…
Banks were actually giving loans on the strength of Nakumatt signing commitment letters for spaces in upcoming malls…
Land prices could hike simply coz nakumatt was coming to a locality…
The reason all this was happening was because Kibaki government had closed taps to Treasury bonds and Bills, Banks now had to find somewhere to dump their money and show growth in their books… Hence the advent of hawking loans all over and shoving loans down organisations left right and centre…
Yea but they needed to run it like a kibanda so that they could use it to clean cash
Shareholders looting the company doesn’t mean employees were innocent. The 2 are not mutually exclusive.
A guy who consulted for Nakumatt told me that their Mega branch had what they called ‘till ya wazee’. A till whose sales didn’t update the main system. The wazees feasted on all the sales from that till bila cost