Wazua
»
Investor
»
Stocks
»
Britam Revises down its Profit!
Rank: Elder Joined: 4/30/2008 Posts: 6,029
|
Aardwolf wrote:Fyatu wrote:Britam Kenya has policies with titles such as "Supersaver plus", "invest plus plus" promising fishy returns just like the ones that Rawat was using as bait for unsuspecting wananinchi. if only someone would probe this further then the biggest ponzi in East Africa will unravel.. bei yangu ni kobole I was hoping someone would mention this. A friend of mine was requested to sign up for one of the Britam unit trusts (or similar product) that promised an unrealistic ROI. Upon hearing this, I checked their website but the said product wasn't listed. I asked my pal who was quite enthused to approach a different britam agent and request for details of the product but this was immediately after the Mauritius scandal had been exposed. Interestingly, the new agent said no such product existed. Well, I wouldn't be surprised if no-one follows this up. Remember the wazuan who was advised to invest in a Britannia Cash Management with returns of 15%p.a?
|
|
|
Rank: Veteran Joined: 11/21/2006 Posts: 1,590
|
Cash management solution is still available Sehemu ndio nyumba
|
|
|
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
|
mawinder wrote:Aardwolf wrote:Fyatu wrote:Britam Kenya has policies with titles such as "Supersaver plus", "invest plus plus" promising fishy returns just like the ones that Rawat was using as bait for unsuspecting wananinchi. if only someone would probe this further then the biggest ponzi in East Africa will unravel.. bei yangu ni kobole I was hoping someone would mention this. A friend of mine was requested to sign up for one of the Britam unit trusts (or similar product) that promised an unrealistic ROI. Upon hearing this, I checked their website but the said product wasn't listed. I asked my pal who was quite enthused to approach a different britam agent and request for details of the product but this was immediately after the Mauritius scandal had been exposed. Interestingly, the new agent said no such product existed. Well, I wouldn't be surprised if no-one follows this up. Remember the wazuan who was advised to invest in a Britannia Cash Management with returns of 15%p.a? 15% p.a is realistic...very realistic. possunt quia posse videntur
|
|
|
Rank: Member Joined: 11/21/2006 Posts: 608 Location: Ruiru
|
maka wrote:mawinder wrote:Aardwolf wrote:Fyatu wrote:Britam Kenya has policies with titles such as "Supersaver plus", "invest plus plus" promising fishy returns just like the ones that Rawat was using as bait for unsuspecting wananinchi. if only someone would probe this further then the biggest ponzi in East Africa will unravel.. bei yangu ni kobole I was hoping someone would mention this. A friend of mine was requested to sign up for one of the Britam unit trusts (or similar product) that promised an unrealistic ROI. Upon hearing this, I checked their website but the said product wasn't listed. I asked my pal who was quite enthused to approach a different britam agent and request for details of the product but this was immediately after the Mauritius scandal had been exposed. Interestingly, the new agent said no such product existed. Well, I wouldn't be surprised if no-one follows this up. Remember the wazuan who was advised to invest in a Britannia Cash Management with returns of 15%p.a? 15% p.a is realistic...very realistic. Realistic yes.... but how sustainable is it. How many investment options are available to Britam to offer such high returns? According to an article I read, Britam's achilles heels was in 3 single-premium investment products, one of which is "Super Cash Back Gold" "..I am because we are. "― Ubuntu, Umtu,
|
|
|
Rank: Elder Joined: 4/30/2008 Posts: 6,029
|
maka wrote:mawinder wrote:Aardwolf wrote:Fyatu wrote:Britam Kenya has policies with titles such as "Supersaver plus", "invest plus plus" promising fishy returns just like the ones that Rawat was using as bait for unsuspecting wananinchi. if only someone would probe this further then the biggest ponzi in East Africa will unravel.. bei yangu ni kobole I was hoping someone would mention this. A friend of mine was requested to sign up for one of the Britam unit trusts (or similar product) that promised an unrealistic ROI. Upon hearing this, I checked their website but the said product wasn't listed. I asked my pal who was quite enthused to approach a different britam agent and request for details of the product but this was immediately after the Mauritius scandal had been exposed. Interestingly, the new agent said no such product existed. Well, I wouldn't be surprised if no-one follows this up. Remember the wazuan who was advised to invest in a Britannia Cash Management with returns of 15%p.a? 15% p.a is realistic...very realistic. yes,it is realistic but not for Britam.I know a friend whose business gives him 10% monthly and he has a ready market i.e he buys and sells the same day and only waits for the payment in 30 days.
|
|
|
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
|
THE BRITAM STORY; a summary. Pesa Nane plans to be shilingi when he grows up.
|
|
|
Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
|
The ongoing vitukos at Britam remind me of CHS Electronics and one Mr. Claudio Osorio in the late 90s. Endless acquisitions, senseless expansions, announcement of super profits followed by restatement of accounts, then finally, in 1999, TOTAL COLLAPSE. I have this feeling that there is a major fraud going on at Britam, and as a minority shareholder, it saddens me that nothing is been done to protect us neither by CMA, NSE nor the treasury. Receive with simplicity everything that happens to you.” ― Rashi
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,354 Location: Nairobi
|
dunkang wrote:The ongoing vitukos at Britam remind me of CHS Electronics and one Mr. Claudio Osorio in the late 90s. Endless acquisitions, senseless expansions, announcement of super profits followed by restatement of accounts, then finally, in 1999, TOTAL COLLAPSE.
I have this feeling that there is a major fraud going on at Britam, and as a minority shareholder, it saddens me that nothing is been done to protect us neither by CMA, NSE nor the treasury. NSE is powerless. CMA is the kingpin. Who is the chairman of Britam? Who is the acting CEO of CMA? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
|
VituVingiSana wrote:dunkang wrote:The ongoing vitukos at Britam remind me of CHS Electronics and one Mr. Claudio Osorio in the late 90s. Endless acquisitions, senseless expansions, announcement of super profits followed by restatement of accounts, then finally, in 1999, TOTAL COLLAPSE.
I have this feeling that there is a major fraud going on at Britam, and as a minority shareholder, it saddens me that nothing is been done to protect us neither by CMA, NSE nor the treasury. NSE is powerless. CMA is the kingpin. Who is the chairman of Britam? Who is the acting CEO of CMA? @vitivingisanakabisa I c ur point . Some paradox are so complex esp in Kenya. The wolves hide in goats skin and it becomes hard to separate the two faunas
|
|
|
Rank: Member Joined: 3/15/2009 Posts: 362
|
VituVingiSana wrote:dunkang wrote:The ongoing vitukos at Britam remind me of CHS Electronics and one Mr. Claudio Osorio in the late 90s. Endless acquisitions, senseless expansions, announcement of super profits followed by restatement of accounts, then finally, in 1999, TOTAL COLLAPSE.
I have this feeling that there is a major fraud going on at Britam, and as a minority shareholder, it saddens me that nothing is been done to protect us neither by CMA, NSE nor the treasury. NSE is powerless. CMA is the kingpin. Who is the chairman of Britam? Who is the acting CEO of CMA? http://www.standardmedia.co.ke/...%E2%80%99s%20appointmentmonkey business
|
|
|
Wazua
»
Investor
»
Stocks
»
Britam Revises down its Profit!
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|