Teks Global Investors Disgruntled Over Non-payment of Dividends, CEO Blames IT Payment System
By Nadesh E.
Since about three months ago, Teks Global and Value Chain Services Ltd has halted the payment of weekly dividends to its investors. This has left some of them disgruntled and unsatisfied as some of them say the move has distorted their December celebration plans.
Talking to some of these investors and monitoring their conversations on social media on the issue, shows they are anxious to get their money as the move has delayed their plans.
Cameroon News Agency took interest in this story and decided to ask questions about the many rumours circulating concerning the value chain agricultural company. This issue has been burning and many are thinking, this could be another scam that such companies usually offer to the public.
Contrary to embezzlement claims blamed on the non-payment of investors’ weekly dividends, the CEO of Teks Global, Samuel Teke has told CNA that the fault came from the IT system issuing out payments to investors.
“The reason for the halt is because our system started malfunctioning and has been double-paying clients. Our IT guys discovered over 7 ways the system became faulty causing the company to lose a lot of money,” Mr Teke said.
He explained that payments were therefore halted because readjustment is ongoing and payments will resume once the system is working without faults, maybe sometime in March 2022.
Mr Teke went further to debunk rumours of embezzlement and mismanagement of funds in the company which many have given as to why there has been a stop in payments.
However, he said there were traces of embezzlement and mismanagement of funds in the company and the company is doing everything possible to investigate the issue. CNA’s independent findings reveal that the company’s now-former close finance aide embezzled money but was later discovered and forced to reimburse.
“For now, we have not established any fact, the IT Auditors and Accountants are still doing their auditing and until they give us the results, we can’t call names or comment on the issue of embezzlement,” he added.
The recent toll of events we are told led to the resignation of the Sales and Marketing Manager of Teks Global Cameroon. To get more information on the embezzlement and mismanagement of funds, CNA sought to find out details from the then Marketing and Sales Manager who resigned a few weeks after the crisis began but she didn’t reply to our invitation for an interview. Commenting on this, the CEO says he has no problem with anyone resigning because everyone has the free will to leave a place if it isn’t suitable for them anymore. Reacting to rumours of him being sued and imprisoned, Mr Teke said he had never been in prison but yes, he welcomed officers to his office who came to ask a few questions concerning rumours circulating on issues of theft.
Apart from financial losses, Teke says Teks Global has suffered from negative propaganda since the crisis began in his company. “Many people have been spreading negative rumours and tagging the company with word scams instead of joining forces with them to see how they can solve the current problem,” he told our reporter in Buea.
Despite the loss, the crisis has also allowed the Teks Global team to learn what they were supposed to have learnt years ago. The crisis has put everyone to work and pushed them to do lots of research and look for answers, he noted.
The Teks Global team expects Cameroonians benefiting from the services, products and investment opportunities the company offered to come together and aid in resolving such problems rather than spreading Information to tarnish the image of the company.
The CEO has called on all investors and potential investors to come in, be patient and wait on the company to resolve all the issues with the system.
But why wait until March 2022 to start paying Investors? many of them have posed this question, driving a thought that the issue at Teks Global is more than what the normal eyes have seen and ears have heard.
