So, many people have been complaining about the flopped projects that DPM sold to investors. Hard-working investors were hoodwinked to invest in a half-thought green house investment in Kajiado and when it flopped, Edwin Khiranga was put to task to defend Diamond Property Merchants.
This young cartel at one time said DPM doesn’t deal with greenhouses. This is not laughable because people lost their money! Nguzo was a crony creation of DPM, the brainchild behind the agribusiness concept.
Defense of the Stupid
“Let’s put things in perspective here. As I see it, my only beef with Dianguzo is the payment of one year’s dividends and any consequential losses from mismanagement of the project that may hinder me from realizing the full agribusiness value that I bought into. And I suppose this is the same for all of us. This should be Cofek’s only mandate in my opinion.”
I don’t see much value in pushing to bring down DPM for several reasons…at least not yet.
1. They’re more likely to pay for the court award (should it be made in our favour) if they remain a going concern.
2. They may have overpromised and under-delivered, and even chosen a bad service provider, but moving forward, we need to work out a transitional arrangement with them as far as farm management goes, specifically on water, electricity, and security. It’s not ideal, but for the moment, it is what it is. Besides, my oversight in this investment was to think that I could do it by remote control by turning over all control to Dianguzo. As a group, we’re now taking over more control over our investment.
3. We will take much longer to get paid if we take this path. Besides, we have not exhausted all the other options that are open to us that hold a quicker resolution.
I choose to look at things in a more positive light as it is a necessary ingredient in realizing the future potential of any investment. In our case what we can gain out of this investment is much greater than what we’ve lost. There is a reason why the windscreen is much larger than the side mirrors.
Honestly, if people have lost their money in a project that you’re involved as a developer, this would be the worst ever excuse, should I call it so or a calm down statement to already conned investors.
First of all, a brilliant idea would have been an official acceptance statement from DPM and initiate a conversation with the now angry investors. Instead, Edwin Khiranga chose to take a hard-line stand of won’t pay, can’t pay. Playing cat and mouse games with people’s money in their blame game with Nguzo. The contract was between the two parties, DPM and Nguzo, why involve investors in the deals they were never involved in at the beginning?
This habit of Kenyans forming conglomerates to sell hot air investment projects and developments should be stopped. Has DPM compromised any litigation undertaken by investors to get justice?