debt burden – Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

CIC Insurance pays Ksh 1.33bn to Co-op Bank in partial loan settlement

CIC Insurance pays Ksh 1.33bn to Co-op Bank in partial loan settlement

Sacco ReviewApril 27, 202605 mins

CIC Insurance Group has made a Ksh 1.33 billion partial repayment on a multibillion shilling loan owed to Co-operative Bank of Kenya, using proceeds from a land sale to ease a debt burden that had weighed on the insurer’s finances for years. The payment represents 27 percent of the outstanding loan, which stood at Ksh…

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