CBK Probe Maisha Microfinance Bank In Rotich Fraud Case
A deal sealed by Moi-era powerful minister and businessman Jared Kangwana and embattled Ex-Treasury CS Henry Rotich in 2019 has come to haunt the duo as Central Bank closes in on investigation, Kenya Insights has learnt.
In 2016, Kangwana teamed up with his associates to ; University don Beatrice Shabana, managing partner at Grant Thornton Kenya Kamal Shah and a then visiting professor at Strathmore Business School Prof Alejandro Lago to form Maisha Microfinance Bank targeting small traders.
Maisha MFB became the 13th micro lender licensed by the Central Bank of Kenya (CBK).
Maisha’s initial capitalization was Sh90 million. The CBK requires microfinance banks to have a core capital of Sh60 million.