The above-mentioned individual recently resigned from UBA Kenya. Please see below link speaking on the same.
The article mentions that “UBA is, for instance, owed some Sh345 million by ARM Cement, Sh172 million by Uchumi, Sh250 million by Nakumatt and Sh98.3 million by Deacons.” All the mentioned companies have gone under.
Lending to all these failed companies by UBA was not a coincidence; Mr Mwige led the ‘packaging’ of the financials for these companies and forwarded the credit appraisals to Lagos for approval.
The Nigerians fell for this hook, line and sinker, approving the loans. only to later realize they have been left holding worthless credit. There is more detail on this scandal which I shall reveal in good time.
Mr. Mwige is planning to head to another bank as CEO, whose board has to keep its eyes peeled before the former pulls the wool over its eyes. Mr. Mwige is just but a small part of the rot in so-called corporate Kenya.
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