Central Bank of Kenya Friday put out a notice to sell the lender, inviting former shareholders of the bank and other strategic investors interested in the failed lender. “The people whose money is stuck in the lender are not small depositors but people who had money and are now broke. On social media, some depositors complained that the decision to sell the lender instead of winding it up had taken too long. Mr Khambiye said depositors are appealing to the CBK to also release some funds while the transactions are ongoing to lift the burden of the shareholders. Curiously, the regulator said the sale is meant to safeguard the interest of depositors, creditors and the wider public interest, and did not mention the shareholders.

Source: Standard Digital June 23, 2017 18:22 UTC