PM: According to new corporate filings, a Canadian-funded cell phone company in Kenya lost more than $25 million in 2020. Taxpayers have yet to see a penny in dividends though the firm paid CEO Jesse Moore of Toronto a six-figure salary equal to $397,000 with stock options valued at $633,000.
“The group is under discussion to raise additional capital with new and existing shareholders who would support the operations for the foreseeable future,” wrote the directors of M-Kopa Holdings Ltd. in their Annual Report. “The directors have assessed the group’s ability to continue as a going concern which includes the current uncertainties created by Covid-19.”
M-Kopa is a Nairobi door-to-door sales company that advertises Samsung phones and household appliances. Four years ago, a federal agency FinDev Canada used public funds to buy $15.4 million worth of shares in the company in the name of African development. more here
Bet they invested with the Nigerian king, too.
Yeah we got screwed by a Kenyan too.
Somewhere, somehow, someone is working on how to blame Trump.
And one of the fuckers just called me and asked me if I wanted a new hot water tank.
Kenyan cell phone. Tin cans and string.
What do Kenyans have to say that would be worth listening to?
I guess their definition of “investment” is different from mine.
izlamo delenda est …
“And one of the f***ers just called me and asked me if I wanted a new hot water tank.”
If hot means stolen, then they were honest, at least.
aleon gets my golf clap for best comment, so far.
15.4 mil.
lunch money.
for Hunter.