Reminds me of this case where some matatu owners sued Toyota Kenya alleging the supplied Hino mini-buses were faulty.

The owners were also fighting repossession of the buses by Tsusho Capital (an affiliate of Toyota) which had provided the financing. They argued the were unable to service the loans since the buses spent most time in the garage and replacement parts were not available.

Q3--Ksh.13.9bn

KCB Group PLC plans to complete the merger with Banque Populaire du Rwanda Plc (BPR) in December and rebrand by January following the acquisition in August.

In an exclusive interview with the Star, KCB Group Chief Finance Officer Lawrence Kimanthi termed the acquisition as strategic, adding that it contributed Sh45 billion to the Group's balance sheet now at Sh1.12 trillion.

"We are in the process of integrating BPR with KCB infrastructure and the full rebranding process is expected to commence in January,'' Kimanthi said.
He said the successful acquisition has given the bank a stronger edge in deepening its regional expansion strategy.

BPR is a strong retail and SME bank with the largest branch network in the sector and a long history spanning over 45 years in Rwanda. After rebranding, KCB Rwanda will be the second-largest bank in the country.

Kimanthi said after East Africa, the lender focus will be in the Central and Horn of Africa market, with interests in DRC and Ethiopia.

"We are closely monitoring market liberalisation in Ethiopia. We hope that the financial sector will be next after telecommunication.
Plans are also underway to enter DRC. We will let you know when that time comes,'' Kimanthi said.

He said they are waiting for regulatory approvals for planned twin acquisitions in Tanzania.

KCB Group intends to acquire 100 per cent shareholding of African Banking Corporation Tanzania Limited (BancABC) from ABC Holdings Limited (96.6 per cent) and Tanzania Development Finance Company Limited (3.4per cent).

KCB Group says it is scouting for new acquisition opportunities in the Tanzanian market following the cancellation of its plan to acquire African Banking corporation.
The ABC acquisition might have been cancelled but Tanzania is not off the table."We shallbe coming back to Tanzania within H2 2022"
Also hoping to close matters minority shareholders in BPR by close of June 2022

you are very right. There is lots of money in store and someone is wondering how do we spend all this. NOT thinkink about the shareholders who own the company.

Worse is if he has shareholding because he/she knows nothing can be done to them.
Him/her and the board is one and the same.

https://www.businessdail...illion-kcb-loan-3710922

The Treasury has been asked to release funds for settling a Sh6.7 billion KCB loan which was used to purchase subsidised fertiliser.

The State Department for Crop Development and Agricultural Research told Parliament last week that the interest on the loan continues to accrue at a penalty rate of 22.5 percent.

This translates to a penalty of Sh3 million daily and Sh90 million monthly, highlighting the financial burden of defaulting on the credit facility.
NCPB borrowed Sh4 billion from KCB in the 2016/2017 financial year for the subsidised fertiliser imports but has failed to repay, with the loan growing due to unpaid interest and penalties.

If the default continues, the government could end up paying more in interest and penalties than the amount borrowed from the country’s second-largest bank.

NCPB bought a bag of fertiliser at Sh3,400 and sold the same at between Sh1,500 and Sh1,800, with the government supposed to cater for the difference.

However, the government failed to pay the subsidy difference leaving the debt to accumulate. The loan is among several major credit facilities taken from banks by various government agencies and which remain unpaid for years.

When are FY results expected?

17 March 2022