Wazua
»
Groups
»
Triumph
»
stima investment cooperative
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
|
enyands wrote:madebe wrote:who has the explanation for note no.10. hapo ndio iko shida Sina explanation but nasikia watu wameachishwa kazi. something Stinks ? Not in FY17 but FY18 Quote:Staff Reorganization
To every Organization, employees are the most important asset that drives it to achieve its goals and strategies. During the year, the Board commissioned a Consulting firm to review the Organization Structure and undertake a staff audit to assess the skills gaps, remuneration and overall employee job satisfaction, with a view to motivating, attracting and retaining competent and committed staff that will turn around the Society. The Consultant’s Report will be implemented in 2018. Pesa Nane plans to be shilingi when he grows up.
|
|
|
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
|
murchr wrote:
I dont know if my memory serves me well but AGM FY16 they told members that 3000 of the monthly contributions will go towards a project (someone remember this?) How does that play here?
Then.. Quote:The Chairman informed delegates that the final and most critical strategic move is to raise Kshs.1.3b to construct three rental commercial buildings to increase our income from the current Kshs. 50m to Kshs.200m annually. He urged all to impress upon our members to contribute each the agreed additional share capital of Kshs.108,000 within the shortest time possible. (It had been proposed Kshs. 3,000 monthly for 36 months) Now... Quote:Major Planned Projects:
During the year 2018, the Society will endeavour to undertake the following major Projects:
• Kangundo Road Housing Project, which will entail construction of 327 units at an anticipated cost of Kshs 1.5 billion and expected income of Kshs300 million. This will be done through partnership with financiers and developers.
• Parklands Commercial building, which will involve construction of commercial/ residential units at an estimated cost of Ksh 600 million and expected income of Kshs 150 million This will also be implemented under joint venture arrangement.
• Pangani Heights, which will be implemented as joint venture with other investors, taking advantage of the Government’s low cost housing initiative. Pesa Nane plans to be shilingi when he grows up.
|
|
|
Rank: Elder Joined: 2/26/2012 Posts: 15,980
|
Pesa Nane wrote:madebe wrote:who has the explanation for note no.10. hapo ndio iko shida Quote:Other Operating Expenses
Provision for Real Estate Interest Owed: Kshs. 21,380,653
Interest on Loans: Kshs. 53,558,268
Bank charges: Kshs. 698,966
Total Other Operating Expenses: Kshs. 75,637,886 Interest and bank charges too high. Whats the interest %? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
|
|
|
Rank: New-farer Joined: 2/8/2018 Posts: 73
|
Hi guys,
Anyone knows the process of disposing off Stima Investment shares? Been trying to get through to there help desk with no success.
|
|
|
Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
|
Typical kenyan greedy gluttony behaviour. Hope Hajj can get hold of these greedy mongrels The government will audit accounts of Stima Investment Co-operative following invitation by the society’s members.
The audit to be conducted by Nairobi principal co-operative officer Hesbon Kiura and Embu senior co-operative officer Charles Mugwika will look into management decisions executed by the current and past boards. A report is expected within the next one month.
Commissioner of Co-operatives Mary Mungai said her officers were at liberty to recommend surcharges or have any officer found culpable held criminally liable for actions they took on use of member funds during their time in office
https://www.businessdail...4738-i2vbnjz/index.html
|
|
|
Rank: Elder Joined: 2/26/2012 Posts: 15,980
|
enyands wrote:Typical kenyan greedy gluttony behaviour. Hope Hajj can get hold of these greedy mongrels The government will audit accounts of Stima Investment Co-operative following invitation by the society’s members.
The audit to be conducted by Nairobi principal co-operative officer Hesbon Kiura and Embu senior co-operative officer Charles Mugwika will look into management decisions executed by the current and past boards. A report is expected within the next one month.
Commissioner of Co-operatives Mary Mungai said her officers were at liberty to recommend surcharges or have any officer found culpable held criminally liable for actions they took on use of member funds during their time in office
https://www.businessdail...4738-i2vbnjz/index.html
Good "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
|
|
|
Rank: Elder Joined: 2/26/2012 Posts: 15,980
|
Board ousted "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
|
murchr wrote:
Board ousted
Will the lost investors money be recovered? Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 2/26/2012 Posts: 15,980
|
Ericsson wrote:murchr wrote:
Board ousted
Will the lost investors money be recovered? Don't know but.... Quote:The board members want the court to “to quash the decision made by the Commissioner of Co-operatives’, arguing that they were legally elected on November 28, 2018. “There is no basis in law and fact for the 1st respondent (Commissioner of Co-operatives) to dissolve the board of directors,” says the board in its application. The court papers point to an elaborate scheme of mismanagement of members’ funds.
The Sacco, for instance, received a Sh100 million deposit from the KenGen Foundation, which was meant to be invested and pay a return of 16 per cent against its policy capping returns at 12 per cent.
But instead of investing the funds were used to pay dividends to members for two years. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
|
|
|
Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
|
murchr wrote:Ericsson wrote:murchr wrote:
Board ousted
Will the lost investors money be recovered? Don't know but.... Quote:The board members want the court to “to quash the decision made by the Commissioner of Co-operatives’, arguing that they were legally elected on November 28, 2018. “There is no basis in law and fact for the 1st respondent (Commissioner of Co-operatives) to dissolve the board of directors,” says the board in its application. The court papers point to an elaborate scheme of mismanagement of members’ funds.
The Sacco, for instance, received a Sh100 million deposit from the KenGen Foundation, which was meant to be invested and pay a return of 16 per cent against its policy capping returns at 12 per cent.
But instead of investing the funds were used to pay dividends to members for two years. how disgraceful is it that they want the court to squash the order and return to work to continue stealing. i think they should call the Special General Meeting and fire them officially and head to DCI for arresting. Its peoples money being wasted by greedy folks. So hata this year 3% onge !! it will take long and much effort to recover from this bad PR
|
|
|
Wazua
»
Groups
»
Triumph
»
stima investment cooperative
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.
|