Business Daily | by Edwin Mutai
The cash-strapped National Oil Corporation of Kenya (Nock) risks asset seizure and auction over Sh5.3 billion defaulted bank loans, Parliament heard Thursday.
The State-owned parastatal owes KCB Sh3.8 billion and Stanbic Bank Sh1.5 billion in loan principal and interest.
KCB, in a letter dated August 13, 2020, demanded full settlement of the loan in 30 days, failing which the bank would institute recovery measures.
