By JAMES KARIUKIMore by this AuthorMwalimu National Sacco is seeking to sell two pieces of land in Juja, only weeks after it emerged that it had incurred a Sh2 billion loss on purchase of a bank. Notices placed in the daily newspapers indicated the sacco was disposing off its 8.094 hectare parcel of land and another measuring 6.070 hectare adjacent to one another. It had planned to put up housing units on the land for sale to its shareholders and members of the public. Spire BankThe sacco incurred the loss following its 2015 acquisition of a majority stake in Equatorial Commercial Bank, which has since rebranded into Spire Bank. This is hardly two months after it “urgently” invited expert advice on the planned development of a multi-storeyed commercial property on the land.

Source: Daily Nation March 28, 2019 06:55 UTC