When Bob Collymore was alive, Mosound was the lion in the jungle.
The firm which has now been reduced to a shadow of former self has organized the UB40 concert through its Radio NRG in order to continue attracting money and sponsors but is struggling.
‘Mosound has failed to pay suppliers, some for more than 2 years. The UB40 concert will bring in much needed financial relief, however, shortlived’, said a source at the company on condition of anonymity.
Sources at the Kevin Mulei owned NRG Radio say things have been tough.
In mid 2019 it emerged that MoSound was losing staff because it was struggling financially.
Suppliers keep calling for unpaid bills and there is talk of KRA issues.
What you see in the media is a lie, a cover up to hide deep issues where a few people have run down what was a good business.
Most of those of who left had built the company for many years and things only changed in the last two years.
Despite the struggle, the CEO keeps engaging in plundering ways such as driving high-end vehicles and other wasteful investments.
In 2020, more people are leaving the company.
‘The firm is facing a crisis with the exit of skilled staff and might soon collapse due to this’, said a former staff.
Salaries have also delayed.
It remains to be seen how the UB40 concert that was once announced as a scam will pan out.