A few days ago, I wrote about my loyalty clashing with my self-imposed responsibility to my readers.
My friend and brother was reported to have been sacked by the biggest indigenous conglomerate in the country, with interests in refining and commodities.
My dilemma was whether to report the exclusive to my readers or remain loyal to my friend and brother.
So, I took a middle-of-the-road position and wrote about my conscience and all of that.
Now, I have heard from the other side.
Let me first state what I initially heard. There was a late-night meeting to discuss the impending IPO, and a shouting match broke out between my brother and the GCFO.
I was also told that there had been an altercation earlier in the week, and that this late Friday night incident was the last straw.
Voices were raised, tempers flared, and in the end, my brother was sacked.
However, what I have heard from another reliable source counters that version.
You may be wondering why there is so much interest in this story—and I will tell you.
There is a lot to learn here, for both the young executive climbing the corporate ladder and the experienced executive.
Themes such as corporate governance, ethics, hierarchy, procedure, and—very importantly—emotional intelligence all come into play.
Back to the story: they have parted ways. The exit process has been activated, and it will take 25 days.
The story continues.
It is a story of a culture of swearing, open threats to senior executives, shouting in meetings, and what has been described as “toxic insider politics” driven by the old guard.
According to the source, he resigned on Friday and would have resigned two weeks into the job—the first time that a Turkish man swore at and openly threatened him.
At this point, I paused.
The source continued: two months after resumption—no permanent office, no KPIs, no handover notes, no call card.
Finally, I quote my brother: there was no shouting in any meeting, nor was he sacked. He chose honour, peace of mind, and dignity over what he described as slavery, money, and the poison of an office title and company.
Now we have two sides of the story. Let me analyse.
For years, we have heard whispers about a flawed corporate culture within this huge conglomerate.
There have been reports of weak institutionalisation of corporate decision-making, human capital issues, and inconsistent processes leading to high staff turnover, theft, and the rise of petty power blocs—all contributing to a fearful work environment.
Despite this, the bottom line keeps growing. The conglomerate continues to gain market share, making its main promoter one of the biggest names in global business.
Then enters the executive, fresh from a high-profile exit from one of the largest exchanges on the continent.
Ego brimming, major transactions under his belt, and a messianic vision to be part of a revolution in African business.
