Cytonn CEO Edwin Dande is one crafty man, with the ability to spin narratives to suit the situation. He is known for depicting a plebeian lifestyle through narratives, to suit his business face, while at the background preparing to take off if things go wrong.
The CEO openly boasts of the fact that he has been living in a rented apartment in Upper Hill for the past 10-years, whereas his company encourages people to buy homes; sentiments he does not share.
Riding on this backdrop, the chap is only being tactical here. He does his investments in the diaspora with the mind that if things get thick (if his Ponzi scheme conks out) he has nothing to lose. In fact, even the car he drives belongs to the company (bought out of investor’s funds).
His double citizenship (Kenya & US) will see him take flight the moment he collects enough from the unsuspecting investors. Only time will tell.
His co-partners are frustrated with his manner of handling things (key man syndrome – obsession with power) and his relentless efforts to undermine a working succession strategy. However, since they cannot be employed anywhere in Kenya on grounds that they have pending court cases (following their theft of investor funds at Britam), they just stick around for lack of an alternative. The chap has capitalized on this to treat the partners and managers as programmed toddlers.
Do you have a story you want told? Do you know of a sensitive story you would like us to get our hands on? Email your news TIPS to [email protected]