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Sunday, July 20, 2008

Safaricom Fires Over 15 Senior Managers

It is interesting that even as many Kenyans cry out for change and criticize our politicians for conflict of interest in serving the public, younger Kenyans are doing exactly what our political dinosaurs are doing out there in the private sector.

Now leading mobile phone operator, Safaricom is known for having very strict company policies and employees are made aware that breaking some of the critical ones will lead to summary dismissal, no warnings. Still this did not hinder some managers from recently getting involved in very questionable dealings and using their positions in the company for personal profit. More so during the company’s recent IPO.

Insiders have informed this writer that some managers were found with double digit millions in their accounts shortly before the close of the IPO. Further investigations linked the huge sums of money to the purchase of extra shares in partnership with Safaricom dealers and other individuals which was clearly the kind of conflict of interest situation the company is against but sadly the kind of thing many Kenyans would see no wrong in doing (kwani amekula mbuzi ya nani?).

It is instructive that at the beginning of the IPO, Safaricom had told employees that they were free to purchase as many shares as they wished, but this rule was later hurriedly changed. The new rule stated that employees could only purchase shares worth a maximum of their annual gross salaries. Obviously what still happened is what the company feared and was trying to avoid. That is a situation where senior employees would gang up with dealers and other people who regularly deal with the company to apply for more shares than they would otherwise have gotten.

To make matters worse, many of them had been rubbing their hands in glee waiting for the shares to rapidly climb in value and give them quick overnight profits. As predicted in this blog in my numerous warnings to the public not to purchase the shares for various reasons, prices have been on a consistent downward spiral since they first traded on the Nairobi bourse (read an expert analysis of future projections concerning Safaricom shares.) So the poor Kenyans who were overtaken by greed, not only failed to make a killing but are now jobless in a market where finding a job is no easy task.

Other managers who were fired were found to have links with some of the company’s suppliers with a few even being shareholders. Yet another clear conflict of interest situation. But in the minds of many Kenyans this is seeing and grabbing an entrepreneurial opportunity.

According to my information the company plans to fire more managers as soon as the evidence against them is verified in the coming weeks.


P.S.: What is in this week’s raw notes (aiii, wacha tu)!! In fact I cannot dare mention it in this public forum. That’s how HOT it is. No kidding!! However you can get a FREE sneak preview of this red hot saga from my weekly Kumekucha Confidential. Email Me right away for it. It’s FREE kabisa.

15 comments:

Anonymous said...

I am not a regular contributor here but could not help see how we miss important and issues, namely;
1. if pointing out maladies in society involves certain members of our community in our society is being tribalist then I rest my case
2. why do we have to get this personal
3. what is the measure of success?are you the bench mark or others, as afar as am concerned I believe it is how the individual perceives it;the quality of life may come in

I have had to stoop this low seeing people hop from personal issues to national ones. As pointed out by the writer Chris or whoever he is ; the issues are of national importance.

Secondly , we should avoid taking refuge behind the computer by spreading our cheap venom. One thing that may be a suprise to you is that despite your anonymous post you can be traced via the computer you used. Internet usage has been abused for long that a legal clause is being introduced that will make cybercafes including our work places will be liable if and whenever found that it was used to injur another person's character(International Corporate IT watch dog have put together for ratification at the Un Hqs).

This is not to say that Cris, is exceptional , I find some of your articles lacking character, full of malice , innuendos not thoroughly researched. a good writer worth his salt needs to know what his/her readers would like in a responsible way, yours on the contrary lack consistyency jumping from one topic to another. Occassionally pulling historical things that hadrly tie up with the context of the strory. I would finally advice , you to join some high street college/school in polishing your story line cris.

Most and majority of postings are full of vitroil sparked with emotions and angersleeved in tribal cacoon in the name of espewing and tooth picking maladies in the society. More often than not we vomit on ourselves, showing how cheap we are.

Anonymous said...

Chris,
some army officers were sacked just over night. Do you have a story to tell. Nyambok from kenya navy. a nice chap. one a major general nyamang at lanet.

Anonymous said...

Chris,
I think you are missing one thing. The Mt. Mafias who bought majority of shares in Safaricom disguising themselves as foreign investors, are now taking over safaricom for they have a big say! So? They are now replacing senior managers from other communnities with their own cronies. As you have been putting it, these guys are masters of GRAND DECEPTION and THIEVES! what else do you expect. Over to you chris.

Deroo said...

Chris,
Let me revisit an alert I gave you sometime back. I told you a close friend of yours is enjoying you by going out with your wife behind your back. In life your friend are sometimes more dangerous than your enemies and this is what is happening to your situation. I'll be back with more details. Do a thorough investigation before i post the name of your friend here.

-Derek-

Deroo said...

Chris,
Let me revisit an alert I gave you sometime back. I told you a close friend of yours is enjoying you by going out with your wife behind your back. In life your friend are sometimes more dangerous than your enemies and this is what is happening to your situation. I'll be back with more details. Do a thorough investigation before i post the name of your friend here.

-Derek-

Anonymous said...

-Derek-

You are a disgusting piece of shiate ati you want to talk about peoples families while spreading propaganda??
how about i tell you that i know your family practices incest including you- so when did you last sleep with your mother?? tell everyone on kumekucha or else i will........

Anonymous said...

Kikuyu's hate the truth but it will come out regarding safaricom- be warned Mt. kenya mafia- sorry kimunya didn't hide your thieving secretes well- you will all be caught with your pants down-

You lied to Kenyans and kenyans will not take it laying down - watch this space goons.

ati you want to abuse chris now?? for your own evil thieving ways?? try again you thieving thugs

Anonymous said...

I have this question for Chris, since we all know you left Kenya for 'safety' to US, leaving your wife and family behind, can you tell us if you miss sex and if you do how do you relief yourself? It’s not personal, just intrigued.

common sense said...

You know sometimes I thank God that am now American citizen and that I live in America under their laws. Over here this type of character assasination by Anon 1.12, 1.25 and 2.54 would swiftly be alerted to the FBI and someone would be sued and on their way to jail. Believe me when I tell that Anon is no cover and you can be ferreted out quite easily.

Not that I hate my motherland Kenya, but somethings are just too nursery like in their behaviour. How do you put someone's family issues on line? What did Chris or Kris's wife, children and grandchild do to deserve the dispicable mention here?

Hamna haibu nyinyi visenge!

Some time back there was a NY DJ with the show Star and Buck Wild in the morning. This chap fancied himself a real ol G. He wasn't shy about putting out his home address and so on for whomever had beef with him. He made the mistake of calling out some guy and then crossed the line by mentioning on air, exactly where this fellow's kid went to school and the car that dropped them there.

That same week, he had lost his job, he was being sued and lost his million dollar contract with that station.

I guess it is a Kenyan thing. Even in the papers, they publish passport numbers, licence plate numbers, anything person they publish!

Anonymous said...

The OWNER of this blog had disclosed in the past many private details about others and gave in general a F... to check if they were true or false. All that matters was to INCREASE the HITS for his blog. He has not even stopped in distributing FALSE and MALICIOUS rumours without any base that certain Memmbers of the Kenyan Government have Aids, where their children go to school giving the names and addresses abroad. He even did NOT stop in DESTROYING certain people's life and career distributing private stories about them. On the contrary, he always pointed out to have been the FIRST and sometimes even the ONLY one reporting here. For most of these FALSE and UNFOUNDED stories he would have had to face legal consequencies in most parts of the world and would have been sued for DEFAMATION. He has therefore NO reason to complain if the heat is now turning on him and he is FINALLY forced to swallow his OWN dirt.

Anonymous said...

Well, it is okay to write or discuss public officials but their spouces and families should be out of bounds. They are not public officials with the possible exception of the 1st lady.

It's just an uncivilized habit of back biting and rumor mongering about personal matters of folks who can not defend themselves in our courts which are some of the worst in the world.

So any direct attcks on Chris the person is fair game but leave his wife and kids alone. And Chris should do the same.

we don't have to stoop to that level.

Anonymous said...

Anon 10:24 AM - I remember that Chris even published a photo showing the Okello Family including their two children and their address in South Bend. That was at a time when Sam Okello had threatened to close down Kumekucha. Only after a lot of pressure did he then cover the faces of the children but the damage had been done. How would he feel if somebody would publish photos of his wife and children?
Did he ever consider that this could also happen? He is not a sacred cow and having shown no respect for the private and intimate life of others in the past, he will have to learn that also his private life can be discussed and be made public.

Anonymous said...

Chris is a a playa hater an a terrible father!

common sense said...

Anon 12.37

I completely agree that tit for tat is warranted. However, being that Chris is abroad, a better way to counter that would be to contact your local FBI, Scotland Yard, or similar office and file charges. I can not speak for everyone, but in the USA they do not take lightly such accusations. Kumekucha would be red flagged and shut down and those involved would face the music.

Anonymous said...

.. missing the point! So annoyingly Kenyan. When Kimunya goofs, it typically becomes an ethnic issue!! How then do we address this rot? Soldier on Chris, K. These are just distructions and noise in the system.... National issues need to be higlighted irrespective of ethnic color. This blog kicks.... if you can't run hide..... Kumekucha will smoke you out.

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