Is SAFARICOM running low on liquidity? Customers who withdrew on KCB-M-PESA using the MPESA App are yet to be refunded two days later, despite their funds being deducted from the bank-end.
CEO Peter Ndegwa is running down the criminal outfit masquerading as Telco.
Normally a company can lie about its financial position by coking the books.
As per online definition for the lay men, “Cook the books is a slang term for using accounting tricks to make a company’s financial results look better than they really are. Typically, cooking the books involves manipulating financial data to inflate a company’s revenue and deflate its expenses in order to pump up its earnings or profit.“
Safaricom entered the Ethiopia Market with much fanfare but such moves always dent the bottomline and sure we were told that the rogue Telcos revenues dropped 18.4 percent to about Sh33 billion.
Despite the PR surrounding it, many small traders are shunning the LIPA NA MPESA and TILL NUMBER services offered by Safaricom due to theft.
Painful scam played by Safaricom on Lipa Na MPESA commissions
“I am a bitter director of Goldmed Pharmacy Limited. We work honestly, we earn genuine commissions but Safaricom shamelessly sucks our blood in the name of arbitrage suspicions. You don’t get a hearing. A software somewhere judges your transaction selectively and bang! You are skinned akin to slaughtering cattle in a drought-stricken area whereas Safaricom owns a vast ranch of modern pedigree cattle. They go for your drought-stricken specimen of a cattle’, the email addressed to Safaricom says in part.
This is how Safaricom is robbing Lipa Na MPESA sub agents through Till number suspension
“Hi Cyprian I’m Mpesa sub Agent it’s been tough doing this business. I have lost like Ten till claiming fraud deposit. Every time I raise an issue with Safaricom PLC the refer me to the administrator. The administrators suspend till few days to pay day to reap where they didn’t sow”, said the sub agent.
READ: FRAUD – Warning: Delete MPESA APP now!
What happens is that, the administrators whom the Lipa Na MPESA Till number fall under often make rounds and claim some sub agent have made fraudulent deposits. When one is accused of fraudulent deposits, they lose their commissions.
Is this how Safaricom manages its failing revenue in calls and text so as to keep reporting billions?
And where are the billions if some people cannot withdraw money easily as promised and required?
What is going on?
Have you experienced this?
