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Teachers shopping for buyer of cash-strapped Spire Bank

Teachers shopping for buyer of cash-strapped Spire Bank
standardmedia.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from standardmedia.co.ke Daily Mail and Mail on Sunday newspapers.

Nairobi Area , Naushad Merali , James Oirere , Kenneth Odhiambo , Alphonse Kaio , Sacco Societies Regulatory Authority Sasra , Spire Bank , Mwalimu National Sacco , Umwalimu Sacco , Sacco Societies Regulatory Authority , Wellington Otiende , Special Delegates Meeting ,

Teachers shopping for buyer of cash-strapped Spire Bank

Teachers shopping for buyer of cash-strapped Spire Bank
standardmedia.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from standardmedia.co.ke Daily Mail and Mail on Sunday newspapers.

Nairobi Area , Naushad Merali , James Oirere , Kenneth Odhiambo , Alphonse Kaio , Sacco Societies Regulatory Authority Sasra , Spire Bank , Mwalimu National Sacco , Umwalimu Sacco , Sacco Societies Regulatory Authority , Wellington Otiende , Special Delegates Meeting ,

Mwalimu Sacco edges Merali out of Spire Bank, begins search for strategic investor


The East African
Wednesday December 30 2020
A Spire Bank branch in Nairobi. Previous attempts by Mwalimu Sacco to sell its stake in the lender collapsed after UK-based crypto lender BlockBank abandoned the deal after expressing interest in 2018. PHOTO | FILE | NMG
Summary
The giant teachers’ Sacco finally edged out business tycoon Naushad Merali from the bank in a share-purchase deal deemed as the ticket for attracting deep pocketed investors with much-needed resources and expertise to turn around the loss-making third-tier lender.
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Kenya’s Mwalimu National Sacco has acquired 100 percent ownership of the trouble-ridden Spire Bank in a tactical move to eventually offload the shares to a strategic investor after close to six years of clinging to an investment that went bust. ....

Naushad Merali , Brian Kilonzo , Alphonse Kaio , Kenya Mwalimu National Sacco , Spire Bank , Central Bank , Sacco Societies Regulatory Authority , Competition Authority Of Kenya , Equatorial Commercial Bank , Alliance Of Kenya , Mwalimu National Sacco , Umwalimu Sacco , United Kingdom Based , Mwalimu Sacco Chief Executive Alphonse Kaio , Cooperative Alliance , Competition Authority , Sacco Societies Regulatory , அல்போன்ஸ் காோ , ஸ்பைர் வங்கி , மைய வங்கி , ஸ்யாகொ சமூகங்கள் ஒழுங்குமுறை அதிகாரம் , போட்டி அதிகாரம் ஆஃப் கேந்ய , பூமத்திய ரேகை வணிகரீதியானது வங்கி , கூட்டணி ஆஃப் கேந்ய , ஒன்றுபட்டது கிஂக்டம் அடிப்படையிலானது , கூட்டுறவு கூட்டணி ,