Kasolo's Investment in Investrust Bank - why????
Forget cement, I think a much more interesting example of how our CEO Dr. PIus Kasolo is messing with our company to look after only himself.
So, as part of our grand plans for diversification to hide the fact we can't make money off the natural resources of our own land because our management failed, Mr. CEO decided we must increase our invest in Investrust bank from 10% to just more than 48% in April 2016 according to my contacts in high management in our company,people who see and hear things during their work and have had enough so am sharing their informations with me.
Why the company made this decision in the first place is big question as even by April 2016 it would have seemed that the bank was losing money. In fact, my contacts told me the board and Kasolo knew well that the bank was in trouble and in the end it lost about 10 million kwacha in the first half of 2016.
My contacts are asking, why do we invest in a bank that is not making money???
Worse, why do we keep our shares so high??
The CEO was instructed by the sec to sell shares so it would own only 35% of the shares in the bank on October 2016 according to my good contacts.
But?
No, it is the opposite!
My good contacts have let me know that the company with Kasolo at the head is now pushing to INCREASE the shareholding in the bank to basically own the whole bank!
The question must be then why Kasolo is pushing to buy a bank that according to my contacts he and the rest of the board have been warned may have a run on it.
My contacts are asking the question among themselves and find maybe the answer lies in the fact our CEO is a....KASOLO! Being a Kasolo means you are related to many important people, including ABC. Many of the colleagues of my contacts believe that Kasolo only got the job because of his family support.
Maybe he must repay them to do things as favours and maybe this is why we now have shares in a broken bank??
So, as part of our grand plans for diversification to hide the fact we can't make money off the natural resources of our own land because our management failed, Mr. CEO decided we must increase our invest in Investrust bank from 10% to just more than 48% in April 2016 according to my contacts in high management in our company,people who see and hear things during their work and have had enough so am sharing their informations with me.
Why the company made this decision in the first place is big question as even by April 2016 it would have seemed that the bank was losing money. In fact, my contacts told me the board and Kasolo knew well that the bank was in trouble and in the end it lost about 10 million kwacha in the first half of 2016.
My contacts are asking, why do we invest in a bank that is not making money???
Worse, why do we keep our shares so high??
The CEO was instructed by the sec to sell shares so it would own only 35% of the shares in the bank on October 2016 according to my good contacts.
But?
No, it is the opposite!
My good contacts have let me know that the company with Kasolo at the head is now pushing to INCREASE the shareholding in the bank to basically own the whole bank!
The question must be then why Kasolo is pushing to buy a bank that according to my contacts he and the rest of the board have been warned may have a run on it.
My contacts are asking the question among themselves and find maybe the answer lies in the fact our CEO is a....KASOLO! Being a Kasolo means you are related to many important people, including ABC. Many of the colleagues of my contacts believe that Kasolo only got the job because of his family support.
Maybe he must repay them to do things as favours and maybe this is why we now have shares in a broken bank??
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