The Standard | by Macharia Kamau
Two major lenders are on the verge of taking over a State-owned oil marketing company over its failure to pay debts.
KCB Group and Stanbic Bank have sought National Treasury’s approval to appoint an interim manager at the National Oil Corporation of Kenya (Nock), in their latest bid to recover billions owed by the firm.
The move could see the oil firm’s assets being sold to repay the debt but it also disregards a year’s worth of work by a committee that was…
