Rank: Member Joined: 12/7/2009 Posts: 320 Location: nairobi
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I lost my debenture certificate. What will I do?
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Rank: Member Joined: 6/4/2008 Posts: 345
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 @ the deal. Why do you insist on missing the point. That is why inaanguka mtihani. I have not said Shoprite is bad or that they cant compete. What i said is that Uchumi does not look at the competition. That is not their strategy. The competition can do what they want. What uchumi looks at is the customer and what the customer wants and they provide it. Period. When you go into a super market, you go to buy unga, soda etc not to look at the floors or wonder what the copetition is doing. This is why customer numbers have gone up from 16 mil in 2009 to 18 mil in 2010. Iam sure you have seen what that has done to the bottom line. Why? Because the focus is on the customer and not on the competition. Capish?
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Rank: Chief Joined: 1/3/2007 Posts: 18,210 Location: Nairobi
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@the deal - Chief, SA supermarkets were tandikwa'd (whipped) in Kenya by the then Uchumi (under a very able CEO Suresh Shah)... Metro ran away from Kenya... In Uganda, Nakumatt is becoming dominant... and Uchumi understands what the 'locals' want... not always imported stuff... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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but Chief Uchumi it self is filled with imported stuff...btwn Metro failed even to perform here..Metro is dead as we speak...LOL....
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Rank: Member Joined: 9/18/2009 Posts: 19
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JC has been a perfect turn-around manager without a doubt. But to take it to the next level once up is another thing.I think b4 he steps out to other EAC markets he should consolidate Kenya. I like how Nakumatt is expanding and specifically how and where they setup shop. See what everyone has seen,but think what nobody has thought. Albert Szent-Gyorgyi
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Rank: Member Joined: 6/4/2008 Posts: 345
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@EPHY. Do you have any financial numbers for Nakumatt for us to see if the expansion is paying dividends? I am skeptical of their strategy as if the loss of only two branches can bring then down to their knees, what would closure of 10 do? Remember Uchumi closed a lot of branches in 2006.
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Rank: Member Joined: 8/25/2008 Posts: 144
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I think the biggest problem with Tanzania is the Kenyaphobia, unless the Uchumi Kiswahili lingo will cloud their perception.
By the way, has Uchumi paid interest on the debentures ? Have not seen a cent to date.
Anyway, good work Jonathan and we are going nowhere. We'll be your customers for a long time to come.
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Rank: Veteran Joined: 5/23/2010 Posts: 868 Location: La Islas Galápagos
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yekeyeke wrote: @EPHY. Do you have any financial numbers for Nakumatt for us to see if the expansion is paying dividends? I am skeptical of their strategy as if the loss of only two branches can bring then down to their knees, what would closure of 10 do? Remember Uchumi closed a lot of branches in 2006. @ati Nakumatt financials??? Thats a first . . . A bad day fishing is better than a good day at work
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Rank: Chief Joined: 1/3/2007 Posts: 18,210 Location: Nairobi
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the deal wrote:but Chief Uchumi it self is filled with imported stuff...btwn Metro failed even to perform here..Metro is dead as we speak...LOL.... Sigh... Kenyans! Many (not me) prefer imported stuff... even if expired!!! Uchumi has more local stuff than Nakumatt... a legacy of Suresh Shah who supported local manufacturers... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,210 Location: Nairobi
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Nakumatt is a PRIVATE firm... They need not release results unless they want to or need to or have to... Kwani? You post your Income Tax Return for all to see??? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 6/4/2008 Posts: 345
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Watu. Okay. Then let no one say that they make money or not as that cannot be backed up. The rest will all be fununu. Just hot air.
I tend to think Nakumatt is just hipe. If two closed branches can liteley kill them, then i dont see the strength in them, even with their shinny floors.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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@yeke are you not also jumping to conclusions, since you don't have financials? yekeyeke wrote:
I tend to think Nakumatt is just hipe. If two closed branches can liteley kill them, then i dont see the strength in them, even with their shinny floors.
Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,210 Location: Nairobi
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@yekeyeke - Before you get on your high horse about how Uchumi prospered... remember GoK stepped in with a sweet loan when shareholders refused to back it up... What are the chances my business will get a below-market rate loan from GoK if I run into problems? I used to shop 100% at Uchumi but now I have (almost) converted to Nakumatt... Why? They are EVERYWHERE in Nairobi... Heck, even in Kisumu they have 2 busy branches. I think 2-3 in Mombasa... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 6/4/2008 Posts: 345
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Wewe Vitu Kidogo And why should i not get on my horse? If you shop at nakumatt, that is your choice. My view is that Nakumatt is expensive for nothing. On the entire thika road, there is no nakumatt, so they are not everywhere. What sort of company builds a store in the middle of a major road? Where are their morals and ethics? Bure Kabisa. Mimi najivunia kuwa mkenya and i dont like a shop whose agenda and purpose is to support manufactures in SA, UK, name it. Why not stock majority of products made in kenya? For example. Why import honey when you can get local honey? Why cant they do like Equity and EABL and encourage local production, create local jobs and improve the local economy? And do they pay taxes? Are these the type of people you would like to associate with? Where is your concience?
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Rank: Chief Joined: 1/3/2007 Posts: 18,210 Location: Nairobi
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yekeyeke wrote:
1) My view is that Nakumatt is expensive for nothing.
2) On the entire thika road, there is no nakumatt, so they are not everywhere. What sort of company builds a store in the middle of a major road? Where are their morals and ethics?
Bure Kabisa.
3)Mimi najivunia kuwa mkenya and i dont like a shop whose agenda and purpose is to support manufactures in SA, UK, name it. Why not stock majority of products made in kenya?
4) Why import honey when you can get local honey? Why cant they do like Equity and EABL and encourage local production, create local jobs and improve the local economy?
5) And do they pay taxes?
6) Are these the type of people you would like to associate with? Where is your concience?
Let's tackle each item here: 1) Yes, they tend to be more expensive but for me far more convenient coz I like to park my car in a safe spot when I go shopping. That's why there is market segmentation. I do shop elsewhere too just that over time I notice most receipts I have are from Nakumatt. 2) Nakumatt (from what I understand) leases space rather than build/buy real estate. This was reported on widely when the Thika Rd branch was demolished + when orengo was shooting his mouth off about westgate. The fool shut up when Westgate owners told him to put up or shut up. What I would like to know is WHO owned the Thika Rd property... (BTW, you do know Uchumi was entangled in some funny real estate deals...) 3) I struggle with the same issue when it dawned on me that KENYANS like 'imported' products! I prefer local (Buy Kenyan, Build Kenya) lakini it is a free country. Nakumatt has tapped into the 'aspirational' Kenyan who wants IMPORTED stuff. Silly? Yes. Mta do? 4) Erm, this one does NOT make sense. Compare EABL to Keroche or Sierra not to a supermarket. Completely different sectors. BTW, EABL does import lots of 'foreign' whiskeys, rums, etc... As for Equity, please compare to other banks. BTW, Equity is a huge lender to businessfolk who are 'importers' from Dubai & China. This I know for a fact. Many of those mamas with huge bags on KQ/Emirates flights from Dubai are Equity customers. Why does Equity charge 30% on their loans? They charge 3% to discount a chq. Annualized 50%. Usury, no? Shudn't you be on their case? 5) Ask Michael Waweru. The only people who accused Nakumatt of not paying taxes were MPs. How's that for irony? Many firms use tax credits (BTW, Uchumi is one of them) to reduce or eliminate tax payable. Legal. 6) Well, Nakumatt fulfills a need for me. I recall that unlike many others, they REFUSED to sell pangas in bulk in 2007-8. I know merali & kirubi are crooked so I avoid their products when I can. [Except for listed firms, I dont support moi, ndegwa or kenyatta firms either coz all started from grand theft] Bottomline: I have no animosity towards Nakumatt coz they are no worse than most large Kenyan businesses. Unlike Uchumi or other parastatals, they don't use GoK (taxpayer) funds. I prefer KenolKobil [yes, I know the biwott connection but I am a member] to NOCK. I sold off my Uchumi shares when I realized it was an extension of chris kirubi's business NOT run with me (as customer or shareholder) in mind. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,761 Location: nairobi
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@ yekeyeke.. for a fact, the Kellogs wheat and nut cereal is unbelievably tasty, nothing local can compare to that stuff.. c'mon, not everything foreign is bad.. Cheer up and embrace globalization
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 604,200 ABP 6.96; MTN 23,800 ABP 5.20
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Rank: New-farer Joined: 6/18/2010 Posts: 95
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yekeyeke wrote: Wewe Vitu Kidogo And why should i not get on my horse? If you shop at nakumatt, that is your choice. My view is that Nakumatt is expensive for nothing. On the entire thika road, there is no nakumatt, so they are not everywhere. What sort of company builds a store in the middle of a major road? Where are their morals and ethics? Bure Kabisa. Mimi najivunia kuwa mkenya and i dont like a shop whose agenda and purpose is to support manufactures in SA, UK, name it. Why not stock majority of products made in kenya? For example. Why import honey when you can get local honey? Why cant they do like Equity and EABL and encourage local production, create local jobs and improve the local economy? And do they pay taxes? Are these the type of people you would like to associate with? Where is your concience? How I wish more Africans were patriotic like you. You should let me buy you a cold one. 
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Rank: New-farer Joined: 6/18/2010 Posts: 95
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VituVingiSana wrote:yekeyeke wrote:
1) My view is that Nakumatt is expensive for nothing.
2) On the entire thika road, there is no nakumatt, so they are not everywhere. What sort of company builds a store in the middle of a major road? Where are their morals and ethics?
Bure Kabisa.
3)Mimi najivunia kuwa mkenya and i dont like a shop whose agenda and purpose is to support manufactures in SA, UK, name it. Why not stock majority of products made in kenya?
4) Why import honey when you can get local honey? Why cant they do like Equity and EABL and encourage local production, create local jobs and improve the local economy?
5) And do they pay taxes?
6) Are these the type of people you would like to associate with? Where is your concience?
Let's tackle each item here: 1) Yes, they tend to be more expensive but for me far more convenient coz I like to park my car in a safe spot when I go shopping. That's why there is market segmentation. I do shop elsewhere too just that over time I notice most receipts I have are from Nakumatt. 2) Nakumatt (from what I understand) leases space rather than build/buy real estate. This was reported on widely when the Thika Rd branch was demolished + when orengo was shooting his mouth off about westgate. The fool shut up when Westgate owners told him to put up or shut up. What I would like to know is WHO owned the Thika Rd property... (BTW, you do know Uchumi was entangled in some funny real estate deals...) 3) I struggle with the same issue when it dawned on me that KENYANS like 'imported' products! I prefer local (Buy Kenyan, Build Kenya) lakini it is a free country. Nakumatt has tapped into the 'aspirational' Kenyan who wants IMPORTED stuff. Silly? Yes. Mta do? 4) Erm, this one does NOT make sense. Compare EABL to Keroche or Sierra not to a supermarket. Completely different sectors. BTW, EABL does import lots of 'foreign' whiskeys, rums, etc... As for Equity, please compare to other banks. BTW, Equity is a huge lender to businessfolk who are 'importers' from Dubai & China. This I know for a fact. Many of those mamas with huge bags on KQ/Emirates flights from Dubai are Equity customers. Why does Equity charge 30% on their loans? They charge 3% to discount a chq. Annualized 50%. Usury, no? Shudn't you be on their case? 5) Ask Michael Waweru. The only people who accused Nakumatt of not paying taxes were MPs. How's that for irony? Many firms use tax credits (BTW, Uchumi is one of them) to reduce or eliminate tax payable. Legal. 6) Well, Nakumatt fulfills a need for me. I recall that unlike many others, they REFUSED to sell pangas in bulk in 2007-8. I know merali & kirubi are crooked so I avoid their products when I can. [Except for listed firms, I dont support moi, ndegwa or kenyatta firms either coz all started from grand theft] Bottomline: I have no animosity towards Nakumatt coz they are no worse than most large Kenyan businesses. Unlike Uchumi or other parastatals, they don't use GoK (taxpayer) funds. I prefer KenolKobil [yes, I know the biwott connection but I am a member] to NOCK. I sold off my Uchumi shares when I realized it was an extension of chris kirubi's business NOT run with me (as customer or shareholder) in mind. Typical excuses of a traitor. How I desire that shortsighted mentally colonized english-only speaking American wanna-bees like you would cease to exist. Koreans bought Korean even when their domestic industries produced low quality manufactures, this built up an internal momentum and primary capital and technological accumulation that allowed their industries to take off and dominate the world. New katiba or not, as long as treasonous #&$%& like you are predominant, Kenya will forever remain what it is, a loser nation made up of indigent cretins who imagine themselves to be above all, wazungus on the inside. I'm already nauseated.
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Rank: New-farer Joined: 6/18/2010 Posts: 95
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obiero wrote:@ yekeyeke.. for a fact, the Kellogs wheat and nut cereal is unbelievably tasty, nothing local can compare to that stuff.. c'mon, not everything foreign is bad.. Cheer up and embrace globalization mr genius, have you been to the slums? Have you witnessed the level of suffering? Do you still not understand that poverty is the result of too little wealth being produced in the economy? Don't you understand that the level of economic activity & output in a nation is directly affected by the import policy? That the more economic activities, the more wealth is created and the less poverty, crime, disease etc within a society. Why don't you take your cheeriness to those dying of poverty and let them know that their deaths are worth it coz you and all the other mentally colonized sell outs must enjoy your kellogs cereal coz its unbelievably tasty!!!!??? I think I'll vomit.
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Rank: Elder Joined: 6/23/2009 Posts: 13,761 Location: nairobi
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@ mwafrika. pliz do not vomit! lol. all im saying is, i go for the best i can buy. if there was a local product that matched an imported one in quality, i wld not mind buying..
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 604,200 ABP 6.96; MTN 23,800 ABP 5.20
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