Mauritian bank group SBM Holdings wants to sell its Kenyan subsidiary five years after entering the market through the buyout of Fidelity Bank that has continued to struggle despite receiving financial support from the Central Bank of Kenya (CBK).
The sale has been revealed in a suit by former owners of Fidelity, who want to block the deal or be paid Sh2.5 billion they claim to have lost in the forced sale of Kenyan bank to SBM Holdings for Sh1.
