PHOTO CAPTION: Wayne Hennessy Barrett, CEO and Founder of 4G Capital Days after we raised an alarm over the huge staff turnover rate at wazungu-owned Fourth Generation (4G) Capital Limited, fresh reports have established that indeed the company uses and dumps employees at their own wish.
A circulating memo in our possession shows that the Nairobi headquartered fintech firm recently sent away more employees, without providing any prior information on the monumental decision.
According to the notice of redundancy dated 31st October 2022, the company cited "dismal performance of the business" for the latest layoffs set to affect dozens of families. "The company has explored ways in which this could be avoided, and the possibility of alternative employment. Unfortunately, we have not been able to identify any suitable alternative employment for you or any way in which your redundancy could be avoided," the letter reads in part. A source who spoke to us disclosed that over 60 employees received the notice of redundancy. "Hi Nyakundi. 4G Capital has got a tendency of recruiting innocent people, use them then dump them with out notice, they torture our minds. That is the notice these guys gave us without informing us prior. They are going on putting false accusations against us after we worked for them. We are around 60 employees who were given a notice of redundancy," the disheartened source wrote to us.
In our previous post regarding the company which operates like a shylock, a disgruntled former staffer lamented toxic working conditions where employees are charged and dismissed on flimsy grounds.
https://nyakundireport.com/toxic-working-environment-at-wazungu-owned-4g-capital-limited/
Those that manage to survive the skewed disciplinary process are ousted through other mischievous methods.
One source who spoke to us sadly narrated how he was sent away in the name of redundancy, just six months after completing his probation period where he brought them millions in profits. "They employed me back in September 2021, went through a 6 months probation period, they confirmed me in March 2022. Barely two weeks after confirmation, they accused me of certain allegations and after the disciplinary process, they found out that the allegations levelled against me were baseless and thus they requested me to resume my work. After a week, they ordered a department structure which they sent me home for redundancy reasons. I went further and engaged an advocate and they were ordered to pay me a certain amount of money, they declined to acknowledge the letter from my advocate and I am now taking them to court. I brought them over Sh100milion business in barely 8 months," he wrote to us.
The firm began its operations in Kenya in 2013 by providing financial literacy training blended with unsecured working capital credit.
4G Capital has since grown exponentially, lending over 750,000 loans valued at $90m, but still treats its hardworking employees like trash.