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Nyachae bank selling staff 5pc stake worth Sh390m
Customers are served at a Credit Bank branch in Nairobi. PHOTO | FILE
Nyachae family-linked Credit Bank is selling its employees a five per cent stake valued at nearly Sh400 million in an ongoing private placement expected to raise a total of Sh5.4 billion.
The tier III lender, where Moi-era politician Simeon Nyachae’s family has a significant stake, has set aside 2.16 million newly created shares valued at Sh390 million in a deal styled as employee stock ownership plan (ESOP).
