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Digital News

Banks take control of Athi River Mining over Sh15 billion debt

By Paul Wafula | 7yrs ago

Athi River Mining Cement Company

Commercial banks have pounced on what is left of Kenya’s second-largest cement maker Athi River Mining (ARM) after they took control of the firm seeking to recover Sh15 billion owed to them.

Nigeria-headquartered UBA Bank, which led the onslaught, appointed joint administrators from audit firm PricewaterhouseCoopers (PwC) on Friday.

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Related Topics

Athi River Mining (ARM) UBA Bank PricewaterhouseCoopers (PwC) Nairobi Securities Exchange (NSE) Capital Markets Authority (CMA)

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