Heavy debt, fraud leave billionaires in turmoil

From left, Alnashir Popat, Cyrus Jirongo, Atul Shah and Zafrulah Khan. PHOTOS | FILE | NMG

Kenyan billionaires are reeling from a relentless pile up of debt and alleged involvement in fraud that has impaired their wealth, leaving them at the risk of permanent exit from the club of the super-rich.

It has recently become clear that retail mogul Atul Shah of Nakumatt Holdings and politician Cyrus Jirongo top the list of those who built their empires on big debt that has come back to bite them.

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