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Sh500m lost in KCB-Equity City Hall loan swap
City Hall, Nairobi. The county may have lost Sh500 million during the transfer of a Sh5 billion loan from Equity Bank to KCB. PHOTO | FILE
City Hall may have lost Sh500 million during the transfer of a Sh5 billion loan from Equity Bank to KCB, a committee of the county government was told on Thursday.
Last week, Nairobi county executive committee member for Finance Gregory Mwakanongo told the Public Accounts Committee (PAC) that Nairobi had spent Sh3.3 billion to transfer the loan.
