KEMU Salt Packers and Production Limited a debtor company in Dubai Bank & also associated with the former chairman of the Bank has been placed under receivership with effect from 6th September 2106.
The Company, together with other related parties with the former chairman, have a total exposure of over Kshs1 billion owed to Dubai Bank Ltd. (IL). KEMU Salt is involved in harvesting and production of salt in Malindi, and currently occupies 7,450 acres of land.
KDIC says it will continue to discharge its mandate to recover debts owed to Dubai Bank (IL) and all other institutions under its purview for the benefit of depositors and creditors who lost their hard earned savings.
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