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Teachers shopping for buyer of cash-strapped Spire Bank

Spire Bank, formerly known as Equatorial Commercial Bank, Chester House Branch. [Wilberforce Okwiri, Standard]

Delegates of the giant teachers’ co-operative society, Mwalimu National Sacco, meet tomorrow to determine the future of the Sacco’s subsidiaries, including the loss-making Spire Bank.

Top on the agenda is a proposal by the Sacco’s board to put Spire Bank up for sale to a strategic investor in a deal where Mwalimu Sacco will still retain a minority interest.

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