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Diversified investment firm to shed stake in Credit Bank over unclear share register

Diversified investment firm Fountain Enterprise Programme (FEP) Holdings is offloading its entire Sh107 million stake in third-tier lender Credit Bank.PHOTO: COURTESY

Diversified investment firm Fountain Enterprise Programme (FEP) Holdings is offloading its entire Sh107 million stake in third-tier lender Credit Bank.

The decision comes after the regulator, Central Bank of Kenya, declined to approve its application to acquire one quarter of the Simeon Nyachae’s majority-owned lender on grounds of unclear share register and low financial capability.

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