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TransCentury sold Sh180m stake in DBK before collapse

TransCentury Group chief executive Nganga Njinu

TransCentury Group former chief executive Nganga Njinu during an interview in his office in Nairobi on July 13, 2020.

Photo credit: Salaton Njau | Nation Media Group

By  George Ngigi

Correspondent

Nation Media Group

Investment firm TransCentury sold its 10.7 percent stake in the State-owned Development Bank of Kenya (DBK) before it was put under receivership last month, recent disclosures by the bank indicate.

TransCentury sold the stake, which it valued at Sh180 million in its latest annual report, to Star Discover Life Investment, Danmill Enterprises and Suods Logistics Limited.

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