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KCB agrees to waive Sh430m penalties on NCPB loan default

A KCB bank branch at Kipande House, Nairobi. PHOTO | DENNIS ONSONGO | NMG

By  Edwin Mutai

Nation Media Group

Political Reporter

KCB Group #ticker:KCB has agreed to waive Sh430 million in interest penalties the lender slapped the National Cereals and Produce Board (NCPB) for defaulting on a loan.

The National Assembly’s Agriculture Committee heard that the bank had also committed to temporarily freeze interest chargeable on the Sh3.6 billion loan with effect from July 1, 2021.

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