1/ Today in the Daily Nation is the story of Tuskys' fall from riches to rags.

The Big Q is Where did the money all go?

Tuskys seemed to be doing well for nearly a decade:
2/ But all unraveled by 2020 when covid hit and creditors came calling:
3/ "Over the past two years, Tuskys has sold goods worth Sh537 million – slightly more than 1 per cent of the figures the giant retailer would hit before trouble started in 2020"
4/ The challenge is sibling rivarly:
5/ Hefty salaries and dividends and staff stealing:
6/ The key shareholders:
7/ The secret knight in shining armour from Mauritius:
8/ Equity Bank might be the final nail on the Tuskys coffin:
9/ Well, the competition has also been nibbling at whatever is left of Tuskys:
10/ There is a little bit of hope:

• • •

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More from @MwangoCapital

Feb 19
𝗧𝗵𝗶𝘀 𝘄𝗲𝗲𝗸'𝘀 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗺𝗲𝗺𝗲𝘀 𝗮𝗿𝗲 𝗯𝗿𝗼𝘂𝗴𝗵𝘁 𝘁𝗼 𝘆𝗼𝘂 𝗯𝘆 𝗦𝗵𝗮𝗿𝗲𝗛𝘂𝗯 [@ShareHubKE]:

1. NHIF was a top news item.

We learnt that top earners are to pay more in monthly contributions but NHIF will stop paying for treating chronic diseases.
2. The Deputy President made some remarks about DRC and the country's citizens were up in arms about them.

Equity Bank [@KeEquityBank] and Kenya Airways [@KenyaAirways], who have business in DRC, were just chilling but got caught in the middle:

#MwangoMemes
3. Property fund manager Ilam Fahari I-Reit [@ILAMReit] has issued a profit warning (projecting a 25% drop in 2021 earnings).

This brings to 5 the number of companies at the NSE who have issued profit warnings in 2022.

#MwangoMemes
Read 16 tweets
Feb 19
𝐒𝐀𝐓𝐔𝐑𝐃𝐀𝐘 𝐑𝐄𝐀𝐃𝐒

This week, Robert Ochieng, Abojani Investment [@TheAbojani]’s CEO, shares the best content he consumed.

He is an ex-banker who traded his Head of IT in banking to found the startup that has helped over 5,000 Africans get started on Investing.

Enjoy!
1. Psychology of Money [Book]

“Spending money to show people how much you have is the fastest way to have less money”

“Controlling your time is the highest dividend money pays”

“Money’s greatest intrinsic value - its ability to give you control over your time”

[@morganhousel]
2. The Joy of Accounting [Book]

Finance has 5 key elements:

Assets- Valuable things in a business
Liabilities- Obligations to creditors
Equity- Obligations to owners
Revenue- Value generating activities
Expenses- Value sacrificing activities

[@peterframpton + @markrobilliard]
Read 9 tweets
Feb 18
Saccos are fast in releasing annual reports!

These are a few things we learned from the Safaricom Sacco [@SafaricomSacco] financial statements for year ended 31st Dec 2021:

1. The AGM was held on 12th February 2022.
2. Their leadership team:
3. They are in year 20 of operations:
Read 6 tweets
Feb 5
Fun facts about Base Resources [@baseresources], the Australian company that does mining in Kwale:

1. It operates in Australia, Kenya and Madagascar:

It operates in Kenya under the name Base Titanium [@BaseTitanium].
2. The other subsidiaries:
3. On the Kwale Operations:

"Kwale Operations is designed to process ore to recover three main products: rutile, ilmenite and zircon.....The Company’s Kwale Operations in Kenya is a consistent and efficient high margin operation."
Read 5 tweets
Feb 5
𝐒𝐀𝐓𝐔𝐑𝐃𝐀𝐘 𝐑𝐄𝐀𝐃𝐒

This week, Timame Wanyoike [@timamenw] shares the best content she has consumed.

She is passionate about emerging tech, entrepreneurship, and innovation in Africa.

She leads startup engagement at @LiquidInTech through Liquid Labs.

Enjoy!👇
1. Defining a Product Manager’s Role Pt.1 [Article]

A great read for incoming, transitioning, and aspiring product managers offering a clear definition of the PM role and what it means for businesses in the continent.

[@techniklyjune]
twoweeksprint.substack.com/p/sprint-2-def…
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A short and sweet piece from one of the top sources for funding insights in Africa.

Here’s some key sectors attracting funding on the continent besides fintech.

[@MaxBayen]
thebigdeal.substack.com/p/fintech-but-…
Read 8 tweets
Feb 4
Fam, join us tonight as we talk all about payments in Africa:

The guests:
-@_realhenryc of @schoolableHQ
-@nielsangho of @theflutterwave

The hosts:
-@deangichukie
-@majiwater

Some surprise guests will join in too. Don't miss! Send in your questions kindly.
@nielsangho:

- @theflutterwave is in 33 countries
- Focusing on simplifying payments across Africa
- Remittances are big in East Africa

#MwangoSpaces
@_realhenryc talking about the potential of crypto:

Why should we convert to dollars every time we transact with local African countries? Why do we use Mastercard and Visa for local checkouts?

#MwangoSpaces
Read 4 tweets

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