So the government intends to splash a whole 1.8 billion of our hard earned taxes on a moribund organization? For what reason? To achieve what purpose? I would like to ask,
Uchumi made lossess or was robbed dry? If it made lossess, what is going to stop it from making more lossess? Some witchdoctor called Kipngetich? So he is a genius? What has he done for himself if he were that good to make any organization turn itself around?
If Uchumi was robbed dry then I did not hear that Kenyans were deported to Tanzania and the Tanzanians given Kenyan citizenship.
Why is the Government busying itself with retail trade? Since when did Government rival private entities? What is the Government’s pre-occupation with Uchumi, it is not a national heritage to me nor an essential service organization. It is just a corruption channel in my opinion.
How does the govt justify such expenditures? Why does parliament allow such wastage? Why would anybody in his right mind continue to buy Uchumi shares? Surely its time has come and it must be allowed to fizzle.
Uchumi will and must die out for the good of the private sector.
I think they are supposed to only that it’s not followed upon keenly. As long as you are a Kenyan citizen you are obliged to ‘pay’ for the privileges accorded to you by the government by the status of your citizenship.
That said, even if these people don’t pay tax, diaspora remittance has even passed tourism in terms of foreign exchange contribution in Kenya.
CHAPTER 470 of THE INCOME TAX ACT is very clear. It says that if you are resident then you will pay taxes. “resident”, when applied in relation -
(a) to an individual means -
(i) that he has a permanent home in Kenya
and was present in Kenya for any
period in a particular year of income
under consideration; or
(ii) that he has no permanent home in
Kenya but -
(A) was present in Kenya for a
period or periods amounting in
the aggregate to 183 days or
more in that year of income; or
(B) was present in Kenya in that
year of income and in each of
the two preceding years of
income for periods averaging
more than 122 days in each
year of income;
@grandpa The main terminology used to net tax payers is not citizen but resident. It is very possible to be a Kenyan citizen but not a resident and therefore not liable to pay tax in Kenya. Likewise, it is possible to be a foreigner but a resident of Kenya and therefore liable for Kenyan tax.
Uchumi is a past great organization. But it was turned into a laundering operation just like KQ, and National Bank. To be honest, Kipgnetich seems like a very honest and dependable man. He went in only to get there to find he books had been doctored and it was a company running on fumes. Uchumi is also a shell of itself. They have a total of 700 employees nationwide. 3-4 Nakumatts have that easily. The government should just absorb this 700 employees into various jobs and walk from this organization.
Aways wondered what business govt has in retail? In my opinion Julius wants the title of the turnaround king, the guy who brought the greatest turnaround in corporate Ke, he has my blessings but I cannot shop at Uchumi
kuna suppliers hapo pia wataumia, plus the other three are run by same individuals behind the scenes…given a choice, Kenyans would gladly support Uchumi…juu ni ya wakenya…plus where will I get power sandwiches?
The number of business people Uchumi has probably already brought to ruins calls for mourning. There is no national pride in an organization that in blatantly as unsuccessful as its majority sahreholder, govt. Govts should issue IDs, not sell sandwitches…
what went wrong? This Miano guy was the one who turned Uchumi around only to become a major thief? back in 2005 i was in collage with an Uchumi employee…jamaa alikuwa stressed…people’s lives are at stake here…afadhali kuletwe mzungu basi
Good advise, have you bought any shares yet? Isnt it amazing how confident human beings can be about a future they know nothing about and can not control? That my brother is what we call hope. It can be terribly dangerous to life if unchecked. Take Chase bank for example, it reopened but only “physically”, not financially, every customer who gets the littlest chance to withdraw runs for cover, there can be no turning back!!!
Uchumi is a dead horse, propped with rotting rods, it will eventually fizzle out of this economy, eventully.