Kijiji billionaires and owners of capital @Maize_Combuster @Billy_Drago @Yuletapeli
@Gaza @Mickey_Bricks @Coastman001 saidia mimi hapa, my understanding of taking loans to start a business huwa ,one puts a deposit lets say 20% alafu you go get the remaining 80% from a financer in this case a bank, you negotiate how you are going to pay off the 80% plus the accumulated interest, mtu akishindwa kulipa the bank auctions the business and incase the buisneess isn’t auctionable insurers pay the bank as most loans are insured… .naona Peter Munga’s shares worth a half billion are being auctioned to pay off a debt from one of his failed businesses…me thinks kuna mtu anataka kuchezea huyu mzee rough, Britam’s investments are hot right now…case in point HFC group surpassed their right issues target end of last year and I can see pale NSE their shares are up almost 50%, is there someone interested in his stake nawekuja rough ama kunaendaje?
Number one suspect ni kasongo
Very true.
Macadamia prices have gone to the shitters recently and the guy plus the other macadamia magnate called wainaina have realized that there’s no more profiting from those businesses in a long while to come. They are easing out of that business cleverly.
Ukiwa na nyumba ama kiwanja unaenda bank kuchukulia loan then unaongea na bank manager na valuer wake mundu khu mundu to play like themselves unapewa loan yenye inatoshana ama inashinda value ya asset yako. You then default washike asset coz hio asset huna haja nayo. Sijui kama unanipata?
China was the greatest importer of Macadamia Nuts. Kenya, Australia and a few others were the main exporters. The foolish African decided to share some seeds and seedlings to the Chinese, and now the are one of the largest producers of the nut and no longer need to import. African leaders have no sense of heritage and will sell out themselves for 3 pieces of silver.
I acknowledge this but hapo kwa shares zake za Britam kuuzua ndio am not getting it, the banks should auction the Macadamia business and why would he put his shares as collateral for such a business, shares zote over 500 million, hapa ndio sielewi
Shares za Britam sai are very hot like super hot sioni how this makes sense and he had them kutoka kitambo sana, why do this now
The business is broke. There’s nothing to auction.
The insurer should come in and sort the bank…
Thats technically fraud
Toa @Maize_Combuster kwa hiyo list kabla akala zake zikatike akikuja kusoma thread
Well it all depends on who you are asking.
Correction:
The largest producers of Macadamia are:
- SA- 35%
- Australia- 25%
- Kenya- 10 %
- US- 6%
- China- 6 %
The top importers of Macadamia:
- US - 30%
- China- 25%
- EU- 20%
The US and Chinese can’t meet local demand for macadamia therefore they are the top importers. Hawaii is the primary macadamia producer in the US and nothing special about their crop; what they do is hype up their product to get maximum price, Kenya and Australia have better quality than Hawaii.
Kenya macadamia is premium but we have thieves, idiots and fckers incharge of our agriculture sector. 3 kg if in-shell macadamias will give you 1 Kg of shelled and these have 5 grades, top 3 grades for export; we dont do value addition just remove the shell and dry and get your market.
Lets look at 2023:
- Global average prices for Macadamia without the shell- $ 15
- 3 Kg if macadamia with shell makes 1 kg without shell
- Brokers like Munga, Jungle, Ngugi will buy with madharau paying a total of KES 150 for the 3 Kg, you have seen brokers buying a kg for Kes.20. The Kibaki government had set standards where a minimum was KES. 100 per Kg.
- So for 3 Kg , Munga will pay KES.150, lets says spend another KES. 150 to crack the kernel, dry, pay labor e.t.c. and produce 1 Kg of shelled for total of KES 300($ 1.50) that he will sell to companies in the US for $ 15.
- The people buying @ 15 per Kg will make add value and make products that will sell for $ 50 per Kg in Amazon,Target, Walmart etc
- Something does not add up with these macadamia stories, probably trying to let farmers know they will continue to get fcked up.
The shares are being auctioned because they were used as collateral just as you say. The business is POSSIBLY not being auctioned because valuation does not give it a commensurate value to what the man owes.
Also, I assume insurance mostly comes in when there’s no collateral like the shares/ business to auction.
You can’t put some things beyond Kenyans. Bora “aomoke”, it is never their issue to lose sleep over.