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Nakumatt boss quits
Rank: Member Joined: 6/4/2008 Posts: 345
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Anyone out there with an inside story on this? What could be happening with this shop? Mara we hear there are investors coming in, then top managers leave. Then the story of stock outs, fires and branch demolitions. Could this be prelude to something bigger? http://www.nation.co.ke/...8/-/hdb4daz/-/index.html
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Rank: New-farer Joined: 2/4/2010 Posts: 16
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But this guy has just won an international award alongside James Mwangi of Equity!
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Rank: Veteran Joined: 6/8/2007 Posts: 675
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Haiya! Whats going on at Nakumatt? Are they overstretched? Expanded too fast and pressure is building? Form is temporary, class is permanent
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Rank: Member Joined: 10/18/2007 Posts: 217
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It was built on drug money,wouldn't be surprised if it goes the same way it come.Remember one of the major share holder is a drug baron.
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Rank: Member Joined: 6/7/2008 Posts: 95 Location: Embu
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Nakumatt, had a good time when Uchumi was in trouble, it now time for Uchumi to reclaim its Mantle.
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Rank: Chief Joined: 1/3/2007 Posts: 18,215 Location: Nairobi
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It was the CEO (not the COO) who won the award... Well, one of the 'investors' came in as political muscle when Nakumatt was being threatened by vested political interests. A pity but any business that became prominent became the target of kenyatta, moi & cronies. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 7/7/2009 Posts: 111
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I feel for Nakumatt a bit ... but certainly feel more for Uchumi ... simply because Nakumatt is owned by a few already filthy rich people and Uchumis has 18,000 common mwananchi still waiting for it to get back to the NSE.
Nakumatt also retails most goods at a very huge mark-up compared to the competition ... Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it...
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Rank: Chief Joined: 1/3/2007 Posts: 18,215 Location: Nairobi
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Cicero wrote:I feel for Nakumatt a bit ... but certainly feel more for Uchumi ... simply because Nakumatt is owned by a few already filthy rich people and Uchumis has 18,000 common mwananchi still waiting for it to get back to the NSE.
Nakumatt also retails most goods at a very huge mark-up compared to the competition ... That is irrelevant! That's like saying you hate Warren Buffett coz he is rich... kwani aliiba pesa zako? All businesses (whether owned by 18,000 or 1) should be treated fairly as long as they follow the law. If Nakumatt (or any other shop/duka/kiosk) is 'overpriced' then go somewhere else! I like Nakumatt coz they provide decent parking for the customers be it at Prestige, Junction or Westgate! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 11/6/2006 Posts: 276
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So branch demolitions may affect their catchment but Nakumatt can be addictive to people who shop with a bigger basket... they will find the next nearest branch... most of them drive anyway..
The people affected by demolitions are the property owners..
The fire i will agree was a major setback...
Nakumatt has gone on to open branches in towns like Nanyuki.. Eldoret... Kigali.. Kampala
Uchumi is a distant 3rd after Tuskys...
Tuskys... have positioned themselves next to mwananchi in nairobi... though with competition from Ukwala and Naivas..
Uchumi basically has no fundamental client... the supermarket is just a random geographical occurrence that pops out wherever... the staff behave like civil servants and 24 hour operations are part of Ciano's vision 2030...
Nakumatt meanwhile has 4 superstores at 24 hours... there are more people visiting Nakumatt Mega at night.. while the Uchumi at Capital Centre goes to sleep... than those at Langata Uchumi Hyper during the day...
tuskys.. 'matatu'(notice locations of imara, pioneer, magic) crowd does not like shopping at night...
@ wote - i think wazua.com is too much for you.. try visit bunge ya mwananchi... under a tree at jeevanjee gardens... that is the forum where people sit and speculate about how all the money they don't have has been stolen... @cicero.. you can go with him too...
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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There are new sharehodlers coming in, and changes have to be made. Rem, Nakumatt was essentially a family duka, which made it big. Now there is need for professional board and management. I understand they are/were headhunting for a pro in the retail biz to come in as CEO and COO. Looks like they found a candidate, and are now exiting all the cousins/buddies/cheap expatriates/yes men... Maybe if Uchumi had done the same us poor shareholders wouldnt be crying as we are now. Business opportunities are like buses,there's always another one coming
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Rank: Chief Joined: 1/3/2007 Posts: 18,215 Location: Nairobi
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The TRM jamaa was certainly not a Shah family member or a Mwau... Or did he marry into the families? Probably a cheap expat? @kularaha - It makes sense to get real professional... but I remember at Uchumi after Suresh Shah left... the 'professionals' who came in with chris kirubi... destroyed the kampuni! The dividends & share price we ku-enjoyed... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Suresh was the last pro who worked for Uchumi, all the others were nephews, sidekicks, etc. Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 10/13/2009 Posts: 1,950 Location: in kenya
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Atul shah is the brain behind Nakumatt definately the resignation of TRM comes as a shock but it was not unexpected. Given their recent strategic shift from Opening mega store to opening express shops in the estate its always prudent to Get a person who understands that market niche well. TRM was probably brought to oversee the transformation of Nakumatt into a public owned company and since that wont be happening in the near future he opted to resign. '......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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VituVingiSana wrote:The TRM jamaa was certainly not a Shah family member or a Mwau...
Or did he marry into the families?
Probably a cheap expat? TRM was headhunted from Plastics & Rubber, an IPS (Aga Khan) company, where he was CEO Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Chief Joined: 1/3/2007 Posts: 18,215 Location: Nairobi
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Never heard of that kampuni (Plastics & Rubber)... Well, I am sure he helped sell their products in the Nakumatt stores (unless it was an unfriendly departure) You are just a gusher of trivia!!! LOL... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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Plastics & Rubber makes mainly bushes for motor vehicle and other machinery...unlikely to be selling much through Nakumatt... Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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i hear he is going to a motor vehicle dealership as topcat Business opportunities are like buses,there's always another one coming
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Rank: Member Joined: 11/20/2008 Posts: 367
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@VituVingiSana I agree, what does Cicero mean that because Nakumatt deserves a demise because it is owned by a few people. That is like saying you bank with bank X because it is owned by a person from your community. You think they care who you are, look out for number one.
@All Atul Shah is the brains behind Tuskys.
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Rank: Chief Joined: 1/3/2007 Posts: 18,215 Location: Nairobi
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the sage wrote:@VituVingiSana I agree, what does Cicero mean that because Nakumatt deserves a demise because it is owned by a few people. That is like saying you bank with bank X because it is owned by a person from your community. You think they care who you are, look out for number one.
@All Atul Shah is the brains behind Tuskys. People always look out for number one. Tribe is irrelevant! Look at the customers of Ngenye Kariuki, Thuo or Nyaga... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 11/30/2006 Posts: 635
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the sage wrote:@VituVingiSana I agree, what does Cicero mean that because Nakumatt deserves a demise because it is owned by a few people. That is like saying you bank with bank X because it is owned by a person from your community. You think they care who you are, look out for number one.
@All Atul Shah is the brains behind Tuskys. @Sage. Le mi correct you with your indulgence. There is no cross shareholding between Nakumatt and Tuskys. Tuskys is owned by some Kamaus from Nakuru
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