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: 4,818 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: 18,121 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: 2,300 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: 360
|
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
|
|
|
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
|
enyands wrote: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 It has been discussed in some thread before and guys complained about it...just pure nonesense. possunt quia posse videntur
|
|
|
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
|
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? Amb. Francis Muthaura?? Who is the acting CEO of CMA? Paul Muthuara?? Is it the same person? Are they related??  Just Asking for a friend. And while on it, any relation to the Amb. Muthaura at the Lapsset? Pesa Nane plans to be shilingi when he grows up.
|
|
|
Rank: Elder Joined: 7/22/2009 Posts: 7,460
|
shocks wrote: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 This is not monkey business. It is FAMILY BUSINESS!!! Kenya has just been turned into a family business!!! We are becoming the new South Korea where the family name is the most important thing!! Uhuru has totally failed on this one. I have neither gone through the whole list or even opened the thread on appointments because the whole thing is nauseating!!! The snapshots I have got hapa kule already make me want to throw up! Father, mother, wife, daughter, brother, thieving former MPigs etc. Apparently the Nyachae family got 5 appointments! In a country of 40 million people!!! The rest of the Kenyans are just here to pay taxes!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
|
|
|
Rank: Elder Joined: 7/22/2009 Posts: 7,460
|
Pesa Nane wrote: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? Amb. Francis Muthaura?? Who is the acting CEO of CMA? Paul Muthuara?? Is it the same person? Are they related?? Just Asking for a friend. And while on it, any relation to the Amb. Muthaura at the Lapsset? Father and son!!! Muthaura and sons Market Authority!!! And Paul Muthaura is no longer acting! He was confirmed. He was acting because he didn't have the required experience demanded for during hiring. Guess what! He now has it!! From the same job he was not qualified for. Banana Republic!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
|
|
|
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
|
MaichBlack wrote:Pesa Nane wrote: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? Amb. Francis Muthaura?? Who is the acting CEO of CMA? Paul Muthuara?? Is it the same person? Are they related?? Just Asking for a friend. And while on it, any relation to the Amb. Muthaura at the Lapsset? Father and son!!! Muthaura and sons Market Authority!!! And Paul Muthaura is no longer acting! He was confirmed. He was acting because he didn't have the required experience demanded for during hiring. Guess what! He now has it!! From the same job he was not qualified for. Banana Republic!!! Funny how Kenyans depend on rumour mills for information, then stick to it, then get maaadddd, then blame the whole country. The Appointed CMA Chair for a period of 3 year with effect from 17 April 2015 is Messrs. James Ndegwa, He of the NIC Bank. The highlighted appointments (I have also done that in the SK thread BUT also provided a link to the full list) are just to spur public debate and perhaps to create a curiosity for people to read the full list for themselves. Well, that's my aim. In the above thread, I was actually sure that someone would correct me on the assumption made to answer to @vvs Pesa Nane plans to be shilingi when he grows up.
|
|
|
Rank: Elder Joined: 7/22/2009 Posts: 7,460
|
@pesa nane - As I said I have not gone through the list and I will not!!! It will just pass me off some more. But I have got snapshots that are extremely annoying!!! Well, Muthaura Jnr. was not confirmed. My bad. I accept that mistake. Got the info in a different story in a newspaper (Either Nation or BD). But the rest is true! He is the son of Ambassador Muthaura. He was the acting chair (for no good reason! What was the reason of having an acting chair for that long?) of CMA. Father was chairing Britam board. Son was heading CMA. Any wrong info up to there??? CMA should have investigated Britam. Was that ever going to happen? Ask @vvs. And the new CMA boss, just like his predecessor has his last name to thank for the appointment! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
|
|
|
Rank: Elder Joined: 7/22/2009 Posts: 7,460
|
Conflict of Interest.Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
|
|
|
Rank: Member Joined: 3/15/2009 Posts: 360
|
Pesa Nane wrote:MaichBlack wrote:Pesa Nane wrote: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? Amb. Francis Muthaura?? Who is the acting CEO of CMA? Paul Muthuara?? Is it the same person? Are they related?? Just Asking for a friend. And while on it, any relation to the Amb. Muthaura at the Lapsset? Father and son!!! Muthaura and sons Market Authority!!! And Paul Muthaura is no longer acting! He was confirmed. He was acting because he didn't have the required experience demanded for during hiring. Guess what! He now has it!! From the same job he was not qualified for. Banana Republic!!! Funny how Kenyans depend on rumour mills for information, then stick to it, then get maaadddd, then blame the whole country. The Appointed CMA Chair for a period of 3 year with effect from 17 April 2015 is Messrs. James Ndegwa, He of the NIC Bank. The highlighted appointments (I have also done that in the SK thread BUT also provided a link to the full list) are just to spur public debate and perhaps to create a curiosity for people to read the full list for themselves. Well, that's my aim. In the above thread, I was actually sure that someone would correct me on the assumption made to answer to @vvs Wrong, now go back to Club SK
|
|
|
Rank: User Joined: 1/20/2014 Posts: 3,528
|
shocks wrote:Pesa Nane wrote:MaichBlack wrote:Pesa Nane wrote: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? Amb. Francis Muthaura?? Who is the acting CEO of CMA? Paul Muthuara?? Is it the same person? Are they related?? Just Asking for a friend. And while on it, any relation to the Amb. Muthaura at the Lapsset? Father and son!!! Muthaura and sons Market Authority!!! And Paul Muthaura is no longer acting! He was confirmed. He was acting because he didn't have the required experience demanded for during hiring. Guess what! He now has it!! From the same job he was not qualified for. Banana Republic!!! Funny how Kenyans depend on rumour mills for information, then stick to it, then get maaadddd, then blame the whole country. The Appointed CMA Chair for a period of 3 year with effect from 17 April 2015 is Messrs. James Ndegwa, He of the NIC Bank. The highlighted appointments (I have also done that in the SK thread BUT also provided a link to the full list) are just to spur public debate and perhaps to create a curiosity for people to read the full list for themselves. Well, that's my aim. In the above thread, I was actually sure that someone would correct me on the assumption made to answer to @vvs Wrong, now go back to Club SK Who is the acting CEO of CMA???? http://www.cma.or.ke/ind...amp;id=34&Itemid=153Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
|
|
|
Rank: Elder Joined: 7/22/2009 Posts: 7,460
|
This @pesa nane fellow is confusing issues and even making me apologize when he is the one who does not know what he is saying!!! Mr James Ndegwa, was appointed Capital Markets Authority (CMA) chairman. Mr. Paul Muthaura on the other hand has been the Ag. C.E.O.Na anaanza kusema people are depending on rumours! Nini hii? Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
|
|
|
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.
|