The State has received Sh24 billion backing from KCB Group for the importation of cheap foods to be distributed through 120,000 shops in efforts to lower the cost of living.
State-owned Kenya National Trading Corporation (KNTC) said on Wednesday it had secured a letter of credit—a guarantee that a seller will receive a buyer’s payment on time — from the bank to support the importation of 100,000 tonnes of household goods on a duty-free basis.
