Industrialist and “Philanthropist” Manu Chandaria has been exposed as a high profile conman by various banking officials that the editor of this site has spoken to.
A few days ago, local dailies carried a story that Kaluworks Limited, a manufacturing firm that is part of billionaire Manu Chandaria’s Comcraft Group, is facing the auctioneer’s hammer over non-payment of multiple debts worth an estimated Sh6 billion.
Kaluworks is indebted to among other lenders I&M Bank, which has already published notices for the auction of the company’s assets.
The company also owes NIC Bank and Bank of Baroda loans that are currently not performing, in addition to hundreds of millions of shillings in a commercial paper whose repayments it has defaulted on.
Today, the same local dailies that have been receiving bribes from Chandaria to lie to Kenyans that he is the best philanthropist Kenya has ever had are broadcasting his troubles as auctioneers come calling.
An advert that appeared in today’s dailies and attached hereunder states that Kalu works, owned by Chandaria will be auctioned this Friday, exposing a philanthropist that has been intimidating banks and asking for loans, running into billions.
The editor of this site spoke to various bankers to understand their experience with Manu Chandaria and was shocked by what we heard.
Posing as a philanthropist, Manu Chandaria always goes to banks for loans but never pays in the long last. When business and all things are good, the companies are his till they fall into trouble and auctioneers knock on the door just like the Kalu works saga.
Manu Chandaria who owns Palm House Foundation and is also USIU chancellor has managed to infiltrate the media where he spams Kenyans with PR and too much rubbish.
The editor of this site, three years ago, exposed the Kenyan Business Community for blackmailing Kenyans especially after any election of peaceful protests as if their interests supercede ours.
Every time there’s political friction in Kenya, the business community comprising of the usual suspects of white-collar thieves, spins out narratives via bribed mainstream media journalists, calling for calm and tolerance as political scuffles seem to hurt their businesses.
The corporate class in Kenya have successfully managed to embed the notion that their financial well-being is intertwined in everyone’s else’s long-term benefit.
At some point, we will begin to demand tangible benefits from the peace that we have given them over the last 10 years. How many new jobs have they created? How has the economy benefitted from their presence?
Because we cannot have Chris Kirubi, Bob Collymore, Kiprono Kittony, Manu Chandaria and other corporate thieves forever holding us hostage with their fake narratives. We know all of these are crooks who predominantly focus on their selfish interests and not the greater good.
We know for-instance that Manu Chandaria was the brainchild behind Youth for KANU 92 that resulted in the plunder of public resources and printing of money in-order for Moi to retain his seat, at the expense of the economy.
Time for PR is nigh, “Philanthropist” Manu Chandaria must know that we know who he really is. He is nothing but a conman who should be paying his debts just like he walks to all institutions using his philanthropist image and state-house name ( Story for another day) to ask for these loans.
All institutions Manu Chandaria is a board member should dissociate themselves with the conman.
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