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