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CMA orders Home Afrika to refund bond subscribers Sh300 million

Njoroge Nganga, former CEO Home Afrika who was let go in September last year after the firm registered poor returns. [PHOTO: FILE]

Listed property developer Home Afrika has been compelled to refund Sh300 million raised through a failed corporate bond in 2014 further deepening the company's financial woes.

This follows a directive from the Capital Markets Authority (CMA) after Home Afrika was found to have inflated interest rate to make the bond more appealing to potential investors.

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