Prime

Court triggers Bank of Africa, KCB fight over ex-Nakumatt boss assets

Nakumatt managing director Atul Shah. FILE PHOTO | NMG

By  Joseph Wangui

Correspondent

Nation Media Group

Bank of Africa has been allowed to auction a prime property belonging to the CEO of fallen retail giant Nakumatt, triggering a fight with KCB Group #ticker:KCB that last November sold the asset for Sh1.04 billion.

High Court judge Alfred Mabeya directed Bank of Africa to auction the property in Industrial Area, Nairobi, to recover Sh460 million advanced to Nakumatt on condition that it notifies other lenders of the forced sale.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.

Get it First!

Stay up to date on the editors' picks of the week.

Latest

  1. PRIME MPs, Senators’ spending on foreign trips rises by Sh800m

  2. PRIME Quickmart reveals supplier funded growth strategy

  3. PRIME Homes, businesses face fines for illegal solar connections to Kenya Power

  4. PRIME Bank branches mirror concentration of economic power in 10 counties

In the headlines

View All