Ex-Nakumatt CEO loses Sh2bn assets to Bank of Africa

Former Nakumatt Supermarket CEO Atul Shah. FILE PHOTO | NMG

Former Nakumatt Supermarket CEO Atul Shah has failed to stop Bank of Africa from auctioning his personal property worth Sh2 billion over loans offered to the collapsed retailer.

The bank is the first to seize assets linked to Mr Shah after the creditors vowed to attach assets owned by him and his family to recover billions of shillings lent to Nakumatt.

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