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Mwalimu Sacco buys 51pc of ECB
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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My 2 cents wrote:Ericsson wrote:https://www.businessdailyafrica.com/bd/corporate/companies/teachers-find-buyer-for-loss-making-spire-bank-3740230
Mwalimu Sacco is waiting for regulatory approvals to conclude the sale of troubled Spire Bank to a local lender by end of March.
The Sacco CEO Kenneth Odhiambo said they have agreed to terms with a financial institution willing to buy the lender and are waiting on the Sacco Societies Regulatory Authority and the Central Bank of Kenya approvals to finalise the deal.
Mr Odhiambo said the deal was an asset purchase agreement where the counterparty will take over assets and their liabilities rather than injecting in money through an equity purchase. I just hope it is not KCB. They have become the shit hoover. Cooperative bank of Kenya most likely Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,342 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:VituVingiSana wrote:I wonder how much the Mwalimu SACCO officials are getting in this deal... Bad move! The SACCO should talk to Centum and buy a stake in K-Rep... And it has came to pass. Is Mwalimu Sacco buying a stake in Sidian Bank? "I wonder how much the Mwalimu SACCO officials are getting in this deal... Bad move" Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Mwalimu Sacco buys 51pc of ECB
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