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FEP pays Sh107m to buy stake in Nyachae majority-owned bank

Customers at a Credit Bank banking hall. Fountain Enterprises Programme (FEP) paid Sh107.1 million to acquire a five per cent stake in Credit Bank. PHOTO | FILE

Fountain Enterprises Programme (FEP) paid Sh107.1 million to acquire a five per cent stake in Credit Bank, the private lender in which the family of former politician Simeon Nyachae has a major stake.

The investment firm disclosed the purchase price in its latest annual report.

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