The decision by the Supreme Court's Court of Appeal gives the green light to Stanbic Bank Plc to dispose off Karuturi Limited assets as foreclosure to defaulted loans totaling to Ksh. 621 million in the flower farm's pre-receivership
A report by the Economist Intelligence Unit says land grabs are another common mechanism of corruption threatening Kenya's food security, citing instances where backdoor deals were used to secure land.
As announced as part of Prime Minister Theresa May's visit to Africa, the Department for International Development will provide a further £55m to support AgDevCo's mission to create jobs, improve food security and boost prosperity in Africa.
The employees accuse CFC Stanbic of demanding more money than it lent to Karuturi, saying the South African lender is responsible for the poverty that struck their families since Karuturi was placed under receivership, 3 years ago.