18.7 C
Kigali, RW
December 9, 2022
Business News

KCB, Equity bank units seek receivership of Kigali Business Centre

Rwandan subsidiaries of Kenyan banks KCB and Equity are seeking to have Kigali Business Centre placed under receivership for defaulting on a $16 million loan owed to the two lenders.

BPR Rwanda – a subsidiary of KCB after the merger of KCB Rwanda and BPR – and Equity Bank Rwanda have requested the Registrar General at Rwanda Development Board (RDB) to put the shopping complex in Kigali under statutory management to protect their interests.

BPR Rwanda chief executive officer George Odhiambo told The EastAfrican that the lenders settled on receivership after other efforts to recover their money from the building owners failed.

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