Absa, KCB battle to control Savannah Cement assets

Savannah cement factory in Athi River. 

Photo credit: File | Nation Media Group

KCB and Absa Bank are embroiled in a bitter fight over the control of the loss-making Savannah Cement, which went into administration after defaulting on loans of more than Sh14 billion.

In a case pending before the High Court, Absa now wants the two receiver managers appointed by KCB removed from office and blocked from interfering with the smooth running of the administration to its logical conclusion.

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