Banks claiming billions of shillings from the troubled Nakumatt Supermarket have indicated they will initiate private investigation in efforts to recover Sh1 billion in lending from some of the former managers and directors of the retailer. One of the steps they are mulling is seizing the managers’ assets once they are traced.
Nakumatt owes suppliers, landlords and other creditors a huge amount of money that ought to be settled expeditiously since the creditors are exposed to huge losses and anguish, and have had to delay their own growth and expansion plans.
