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Citibank Kenya has mounted a major legal battle at the High Court in Nairobi in a determined bid to shield its staff from aggressive criminal investigations surrounding a $2.02 million (approximately KSh 261 million) credit facility extended to Murang’a-based Kiru Tea Factory Company Limited. The international financial institution has filed a constitutional petition seeking urgent … Read more
Safaricom has issued a clarification explaining why M-Shwari is legally allowed to recover defaulted loans using funds held in a customer’s M-Shwari savings account. The clarification follows widespread complaints from Kenyans who reported that their M-Shwari savings were locked or unexpectedly deducted, raising public concern and debate on social media. According to Safaricom and its … Read more
Imagine waking up to find your neighbor took a loan in your name—without your consent—and now the bank demands repayment from you. That’s exactly what odious debt means for Kenyans. Odious debt refers to loans taken by a government without public consent, not used for public benefit, and often tainted by corruption. Under international law, such debts should not be … Read more