Merxcine Cush
A woman who had entered into a tripartite agreement with property development companies, Wealthsmith Limited and Barletta Holdings Limited dealing in Agribusiness is crying foul after a Sh300,000 business deal went sour.
According to her, the agreement was that she would receive the first amount of her returns in the first twelve months. The agreement states that the money would be disbursed in two different installments of Sh.200,000 each.
She did not however receive her returns within the stipulated period and her follow ups have not yielded any fruit. She says that she received a postdated cheque of Sh.150,000 which was less the amount that they had agreed.
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She further claims that the companies sent her an addendum document stating that after partially carrying out the project the third party, Barletta Holdings Limited said that it was untenable to implement the project within the stipulated time period.
The addendum also amended some sections stipulated on the initial contract, extending the contract period from three to four years.
The investor who says she was not consulted and is yet to receive her two installments has refused to sign the amended document saying that she was not consulted and would stands by the initial contract.
The project was launched lasyt year with the CEO Justin Muendo saying that the project would help address Kenya’s food security and providing an investment opportunity for the youth and women to invest in the country.
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This is so common with Wealthsmith. At least she got somethhng out of it. On my side I have never received anything and it is one year down the line. Visits to the office is always a cry on the weather or vandalism or at times both. This was the risk they could have anticipated. I think there is a scam on this