Moi Ripped Kenyan Economy To Enrich Himself- Family Can't Hold Wealth....?

[SIZE=7]Moi Family Sells Company For Ksh1.7 Billion[/SIZE]
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[li]By MUMBI MUTUKO on 16 November 2021 - [/li][/ul]

The family of the late retired President Daniel Moi has sold a stake in its logistic firm, Siginon Aviation, to a foreign company, after regulators approved the takeover.

Moi’s family sold a controlling stake for Ksh1.7 billion to a Kuwait-based company making it the second major deal involving the family and their associates.

Siginon Aviation is part of the Siginon Group which is owned by the Moi family collectively with his former personal assistant Joshua Kulei, who has a 12 percent stake.

Records at the Company Registry show several firms that own Siginon Group, including Prize Holding Limited, which has a 42 percent stake, and Trade World Kenya with 10 percent.

https://www.kenyans.co.ke/files/styles/article_inner_mobile/public/images/media/gideon%20Moi%20Kanu.jpg?itok=Rj2t3Y7V[ATTACH=full]398883[/ATTACH]
KANU Chairman Gideon Moi at one of his party’s office.

Other firms with a stake at the company include Kabarak Farm (26 percent), Sacho High School Trust (six percent), Mogotiyo Plantations (10 percent), and Moi High School Kabarak (six percent)–all of which are directly linked to the former President.

Siginon is headquartered at the Jomo Kenyatta International Airport (JKIA) and has three subsidiaries that run different functions.

The firm’s flagship business is Siginon Global Logistics, which offers cargo transportation by sea, air, road, and rail.

It also owns Siginon Container Freight Station, which clears cargo bound for outside Kenya from the Mombasa port.

Notably, these two units are not part of the proposed NAS deal, which the Competition Authority of Kenya approved last week.

[I]"As we cleared cargo, we started getting a lot of requests from our customers who wanted their cargo transported from point A to B. So we bought some trucks to move the shipment to the final destination.

"Then from there, we had the customer asking us whether we could hold the cargo for them for some time because they didn’t need the goods urgently; so we started investing in warehouses.

“We also went into ground handling because we were putting a lot of cargo into aircraft and airlines require terminal handling services such as ground handling, ramp handling, and air cargo handling,” Siginon Managing Director Meshack Kipturgo told Forbes.[/I]

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[I][B]Even with all these guaranteed tenders young Gedion still has the courage to sell a company that had been operational for almost five decades!

[=AZUaVuLVC9FN3oexrg2dT9X8iGXkY3Mek8TMM_8b1eCE6nACX4RHVSgG-l73yRG7beryv-Y0AQV1X26b5JqqKoo9YURZo3_DW0k-_NTsygzMeoaR67hTdqhx2MDIJRknPGQJ0vcfaHbv-umUhdzqIt00mF9uQz2VfDMf7shzyBJrvugGHKW2YnvMDLBQBjA_9nQ&tn=R]-R’]Joseph Marich]('https://www.facebook.com/joseph.marich.39?comment_id=Y29tbWVudDo1Mjc2Mzc2Mzc1NzExOTkxXzUyODU2NDAwODQ3ODU2MjA%3D&__cft__[0)
Lesson to parents.Never ever profile your family.As a father, it’s important to empower all family members,get to know strengths and weaknesses of every member.Show love and consideration to all.Moi’s case was different and the repercussions are what we see now.

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They know companies won’t survive in Kenya thats why they are selling
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You know nothing, and I won’t give you the benefit of knowledge

By the fourth generation, all this ill-acquired wealth will be gone.

Tusaide hapa kidogo brazza. What is going on?

wacha kuwa mjinga, pesa ya Moi iko na fund managers Switzerland, watakuwa the richest family kenya miaka ingine 200

Mnafikiria Moi alikuwa kwa power 24 years kufungua company ya Siginon? Kuweni serious elders.

tumekuwa kwa dunia ya kisasa miaka ngapi ndio tuconclude ivo eti haitaenda beyond 3rd generation? Pesa ya Moi hakupea kila mtoto share yake.

Excerpt from here: https://www.nasdaq.com/articles/generational-wealth%3A-why-do-70-of-families-lose-their-wealth-in-the-2nd-generation-2018-10

The generation that earns the wealth is the generation that worked and experienced hardships to make sure they achieve something better for themselves. They work hard and diligently save to achieve their goals. Their efforts pay off and by the time they are ready to retire and live comfortably, with assets to pass on. The next generation, while growing up, sees their parent’s struggles and have a good understanding of the value of sacrifice and hard work. While they may be more comfortable as adults, they can still remember the frugal aspects of their lives growing up. Since they are aware, they make better decisions surrounding education and financial choices enabling them to build on the foundation given to them by their parents. The third generation never realizes the struggles and sacrifices the previous generations endured. The only thing they know if a life of plenty and have a real lack of understanding of what is needed to create and maintain the lifestyle they have grown accustom to.
It is estimated that 70% of wealthy families will lose their wealth by the second generation and 90% will lose it by the third.

Ao ni wenye wanaachia watoto pesa na biashara ilhali watoto ni lazy na hawajui kufanya kazi. Pesa yyote ile ata kama ni million mbili, so long as you live off the interest and don’t touch the principal you will be rich forever.

hapa ndio wasee hawaelewangi

mtu ako na maybach comfortably ako na mabilioni kwa account.
hapana kaa kama 2nd generation ya tuskys wenye malikuwa wanaingia kwa till na kuchukua pesa kuenda kupiga sherehe

It is just loading off a few baggage for campaigns, since KRA na DCI wamekuwa wakali pesa haiflow sana na campaign ndio hii

The cash might be frozen kama ile ya gichuru. You never know about the future especially baba akiingia state house next year. Msungu will be very happy to return the stolen cash to kenyan tax payers.

Kenyatta and mois era corrupt leaders did not have the necessary skills to hide their loot. Nowadays we have highly paid geeks who specialize in that area. We know that some people are stealing serious money but tracing it becomes a problem

Msungu is not your relative, why should he care about kenyan tax payers? Switzerland is a money laundry and they never care about anyone’s politics, they are neutral to all, bora unaleta pesa na biashara