Interest and penalties have pushed up loans taken by cash-strapped National Oil Corporation of Kenya (NOC) by 75 percent to Sh8.56 billion, amid cash-flow woes that have hurt NOC’s ability to repay the facility.
A Treasury document tabled in Parliament shows NOC owed KCB Group Sh6.35 billion as at June from an original amount of Sh3.59 billion while its loans taken from Stanbic jumped to Sh2.21 billion in the same period from an initial amount of Sh1.3 billion.
