The court upheld a deed of guarantee signed on November 12, 2012 between the Youth Enterprise Development Fund Board and Indo Africa Ltd under the Fund's Credit Guarantee Scheme.
By
Sam Kiplagat
Court Reporter
Nation Media Group
A microfinance institution has been ordered to refund Sh150 million to the Youth Enterprise Development Fund after the High Court found it had breached the terms of a credit guarantee deal by failing to secure a commitment by a commercial bank to cover losses if the loan terms are not met.
Indo Africa Finance must pay YEDF Sh150 million plus interest after the High Court ruled it breached a youth loan financing…
Banks have received an aggregate loan demand of Rs 10,000-12,500 crore under the scheme, according to people familiar with the…
According to the EFCC, the defendant allegedly converted funds belonging to one Ernest Terkula Jor to personal use instead of…
IFC said the project seeks to expand lending to higher-risk and underserved borrowers in Kenya, helping unlock more…
EADB has lost a 23-year bid to recover Sh1.3 billion after court ruled it failed to justify the loan’s escalation.
The Finance Ministry has extended the Credit Guarantee Scheme for Microfinance Institutions-2.0 until August 31, 2026, or until…
