Sanlam Kenya has paid the outstanding Sh2.4 billion Stanbic Bank Kenya loan balance using funds from a recent rights issue to clear the debt that previously stood at Sh3.04 billion as of December 2024.
The loan had been restructured three times before. The insurer, which recently raised Sh2.5 billion through a rights issue, had paid Sh800 million to Stanbic in build-up to the rights issue.
