Sanlam Kenya plans to raise Sh3.25 billion from its shareholders to settle a Stanbic Bank Kenya loan and rescue the company from liquidity challenges.
The insurer said in a notice that its board approved the rights issue on November 13 to raise the amount and will now be seeking the approval of shareholders. The amount will be crucial in saving the firm from a liquidity squeeze given that its entire Sh4.66 billion debt is maturing before mid-2025.
