Monday, 30 April 2007
Friday, 27 April 2007
This One Makes Wambui Otieno Seem An Amateur
A grandmother of 75 has stunned family, friends and her local village by setting up home with an African toyboy a third her age. Widow Angela McKimm has flown her 25-year-old lover, known as Tosin, to Britain to live with her after falling for him on a trip to Gambia.
Now they live in her huge £1million house in the sleepy village of Buriton near Petersfield, Hants. Mum-of-four Angela met Tosin in 2002 and spent £5,200 on flights to visit him before he was finally allowed into Britain in February after three High Court appeals. Until then he slept on the floor of a hut he shared in West Africa with his mum, sister, her husband and their baby. He ate chicken and rice for most meals. Now he enjoys the run of her eight-bedroom home and eats what he likes.
Angela chauffeurs him to and from college in a new silver Ford Focus. Her granddaughter Sophie, 19, spilled the beans about the relationship. She said: “I wouldn’t call what Grandma and Tosin have love. I’d say it was an agreement of companionship. “She says it’s only society that has made the age gap wrong, but I know I wouldn’t find a man of 69 attractive — or consider dating, or having sexual intercourse with him. “The relationship certainly isn’t conventional and it has ruined the portrait we had of ourselves as a typical middle-class family — but who wants to fit the Government specification?” Sophie said her gran and grandad used to travel a lot until he died ten years ago. Her gran continued the habit, visiting Gambia where she fell for Tosin. Sophie added: “When she came back she seemed so happy. She seemed to have got back some of her youthful spirit. “She met Tosin as she walked through a market where he had a stall selling carpentry goods.
“Her 5ft 8in slim shape, immaculate dress and straight mid-length white hair made her a head-turner. “They spent the day together walking, talking, and laughing. The next day she flew back to Britain.” Angela returned two years later. The pair hit it off again and checked into a hotel. She made several trips as formal proceedings rumbled on to try to secure Tosin legal entry to Britain. Sophie added: “Now they’re together they have settled into a pattern of life.” Villagers yesterday told of their surprise at the relationship. A neighbour said: “I’d assumed he was a lodger or an exchange student.” Angela would say only: “Without a doubt my reputation has been destroyed, and sadly it has been by my granddaughter.” - The Sun, London
Tuesday, 24 April 2007
GOLF: Dedicated to Tee Off Kenya Ltd, a Golf Safaris Tour Company
(This must have been a Kikuyu from somewhere in central province...ama?)
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Amazing Fetes
A BBC reporter covering the elections in Nigeria says that he was surprised at what he saw at traffic lights in Nigeria. While awaiting the lights to change signal in Lagos, he saw a Nigerian lady talking on a mobile phone in one hand, breastfeeding her child on the other, and at the same time driving. "She had to struggle to change gears." the report concluded. Less than five minutes after that, a group of people wearing police uniform hijacked all the ballot boxes they were escorting and fled to the slums.
Arsenal
The Queen on England is a supporter of Arsenal. The Queen has been a keen Arsenal supporter for more than 50 YEARS, royal sources say. And she followed in the footsteps of her late mum the Queen Mother, who was a Gunners fanatic too. Although the Queen has presented a string of soccer trophies, her club allegiance has never been revealed before. Her Majesty, 81, is said to have confessed her love of Arsenal at a February reception at Buckingham Palace, attended by players and officials from the club.
Richest Kenyans
Ask any Kenyan who the richest Kenyan is and they are likely to mention people associated with ex-president Moi or the late president Kenyatta. Though a few Kenyans of Asian origin with political connections are known to be extremely wealthy, it is unlikely that most Kenyans have heard of Vijay and Bikhu Patel.
Vijay and Bikhu operate Waymade Healthcare, a UK based company that supplies and distributes branded and generic pharmaceutical products. Brought up in poverty in Eldoret, Vijay went to UK at the age of 16 with only £5 to spare. He took menial jobs to pay his way through A-levels and later on enrolled in the College of Pharmacy in Leicester. With a loan from an uncle, he opened his first pharmacy in Essex in 1975. His company took off when it entered the wholesaling and distribution market in 1984 and started to supply hospitals and other pharmacies. Bikhu, who had trained as an architect, later joined his brother's business and together they have grown the business at an exceptional pace.
Vijay and Bikhu owe their success to the UK's National Health Service decision in the mid-80's to switch from the use of branded drugs to generic medications in order to lower its prescription costs. Their firm specializes in parallel importation of drugs which involves sourcing drugs from cheaper countries and selling them at competitive prices in the UK where the cost of medicine higher.
The rapid growth of Waymade Healthcare has seen their net-worth increase from £203 million in 2000 to £455 million as of September 2006. Though their wealth has been on the rise, they have dropped from position 93 (2004) to 149 (2006) in the Sunday Times Rich List.
At a minimum wealth of £455 million, Vijay and Bikhu are worth 61.6 billion Kenya shillings or $900 million making them the richest Kenyans!
Vijay Patel now aged 57 and his older brother Bikhu, aged 59, are both involved in charity. Through their firm, they fund a school in Kenya and are involved in running medical camps in India. Their firm employs more than 600 employees and had an annual turn-over of £280 million in 2003. At Waymade Healthcare, Vijay is the chief executive officer and his brother is the managing director.
Cash Pyramid Schemes in Kenya
Other examples include:
Ms Ndunge King’oo, 24, joined Bright Vision Projects on February 28 after paying Sh200 registration fee. She then deposited Sh2,500 hoping it would earn 100 per cent interest as had been promised. According to the terms, her deposited cash would double after 30 days and if she opted to claim the returns after three months, it would have increased three fold. A close friend had introduced the mitumba (used clothes) trader to the scheme, promising her that it was an easy way to make a fortune. “My friend had deposited Sh5,000 in January and she was with Sh10,000 in February. In fact, I joined the scheme the day I escorted her there to receive her payment” said Ms King’oo. Normally, Ms King’oo makes a profit of Sh6,000 a month from her stall at the City Stadium and the pyramid scheme was a hope to faster riches which she couldn’t resist. After visiting the offices several times without getting her returns, she reported the matter at Kamukunji police station. “They (officers) told me I had no case because the receipts I had, showed I gave the money in exchange of some products,” said Ms King’oo. Ezekiel Marigi, 29 He joined Developing Entrepreneurship and Community Initiative (DECI) in November last year after depositing Sh5,000. After three visits to the organisation’s premises in February this year, the deposit had accumulated to Sh17,000. It was all paid in cash. Mr Marigi is now jobless after he resigned as a clerk hoping to get a lumpsum from the Bright Visions, where he enrolled for membership next. He deposited Sh25,000 on March 8 hoping to get Sh50,000 as a 100 per cent profit, 30 days after he deposited the cash. On Thursday, last week, he visited the office for the third time, only to find it closed. Mr John Muriithi A kiosk owner at Huruma estate in Nairobi joined the Developing Entrepreneurship and Community Initiative (DECI) in December last year. He was charged Sh100 registration fee. He then deposited Sh2,000. He revisited the office in January this year and was informed that the deposit had accumulated to Sh7,000 and the payment was due. “It was excited that the deposits could earn such big profit in a short time and so, instead of taking the whole amount home, I received Sh5,000 and re-deposited the balance,” Mr Muriithi told the Nation on Thursday. March 15, the second deposit was supposed to have matured because the date was inscribed on the official receipts he had been issued with. Mr Muriithi presented the receipt to the officials and got the money. “I did not lose hope and I deposited more money, but just Sh1,000,” he added. He has not received any cash after the last deposit and on Thursday, he was among more than 200 people who had camped outside DECI offices on Ngong Road. An official had explained to the crowd that a problem had arisen at the bank, promising it was being addressed. Mr Wairi Mwangi The driver at a city firm was introduced to Bright Vision by a colleague last year. He deposited Sh5,000 after paying Sh200 registration charges and was issued with two receipts, each had the Kenya Revenue Authority stamp. The amount was supposed to double after 30 days. “They asked for my mobile phone number promising to send me a text message once the 100 per cent interest was due,” said Mr Mwangi. After a month and having failed to get the sms notification as promised, he decided to visit the offices. An official who served him apologised for the hitch and his claim was processed. Excited, he deposited another Sh2,000 and after waiting for a month, he returned only to find the offices closed. Mr Oliver Mutahi He operates a car-wash yard in Ongata Rongai and was introduced a pyramid scheme my a pastor at a church in Ole Kasasi. “One day, a church leader I knew visited me at my work place and explained to me I would make a fortune by joining the scheme. He had also joined one and directed me to the DECI office,” said Mr Mutahi. “An official there directed me to the local post office where I was required to pay the deposit. I was enrolled after I took back a post office slip as proof of payment,” he says. He deposited Sh2,000 and expected the amount would double after a month. The due date was supposed to be April, 12. When he visited the DECI offices last week, he was told he would not be paid because of a hitch. Suleiman Fadhili When Suleiman Fadhili invested Sh42,500 in a pyramid scheme in Nairobi last month, he expected the amount would have doubled by April as had been promised. Fadhili, who was introduced by his wife Saida to the scheme operated by Bright Vision Products, said he first paid registration fee of Sh200 each for himself, his spouse and their son. He then invested another Sh15,000 each for his wife and son and Sh12,500 for himself. The investments, he was told by the organisation’s officials, was to mature in a month’s time, meaning family contribution was to earn 100 per cent profit. Fadhili lost all. Lucy Omusundi Lucy Omusundi, 23, has not been able to recover Sh1,000 she paid to join a pyramid scheme a year ago. “I was excited when a friend introduced me to the idea. I was looking for money and I saw it as the only way to cross poverty line,” she said. Lucy was required to get four people, each giving Sh500 to earn her first Sh2000. Her earning was to rise to Sh8,000 if the four got four other people each and reach Sh128,000 if the number of contributors grew to 256. Lucy had managed to convince three people to join and deposited their contributions with the scheme when she was told the firm’s accounts had a problem and had been closed. But she did not give up and decided to join another one which collapsed. Now she has given up. (Source: Daily Nation, 24th April, 2007) | |
While the government maintains that the money schemes are illegal, a lawyer for one Nairobi-based company says the firm is registered in Kenya and that its activities are legal.
A lot of banks have been crying foul and criticising the way these companies operate and already there is fear among bankers and the capital markets that these companies will end up grounding their businesses.
I invite anyone to give an informed opinion, educate those who have money to invest for them to make sound decisions. This may be out of personal opinion or otherwise good knowledge of how these schemes work. Some of these pyramid companies have been shutting down and disappearing with no trace of the directors. Some have been enjoying good business and as one company director reported in the press, they have paid out an amount in excess of Kshs. 1.6 billion in the short time they have been in operation!
Pyramid schemes have been banned elsewhere.
In the US, United States Securities and Exchange Commission filed a legal complaint declaring it to be in violation of the anti-fraud provisions of the Securities Act of 1993 and the Securities Exchange Act of 1934.
Hong Kong, Malaysia, Canada, China and Australia. have also declared the Pyramid Schemes illegal.
In 1997 in Albania, the collapse of the schemes sparked bloody protests that brought down the government after clients lost about $1 billion.
Over to you dear readers!
Kengen Shares
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