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HomeDaily NewsFriday, September 12, 2025Financial Payouts Follow Court Rulings and Government Action in Kenya - September 2025
Business & Economy3 stories from 2 sources

Financial Payouts Follow Court Rulings and Government Action in Kenya - September 2025

Standard Chartered Bank Kenya is inviting 629 former employees to file pension claims following a Supreme Court ruling. The decision upheld a Sh7 billion pension dispute settlement, bringing a four-year legal battle over underpaid benefits to a close. In a separate case involving a Kenyan-owned bank subsidiary, the High Court in Kampala ordered guarantors of Great Lakes Coffee Company to repay KCB Bank Uganda over US$1.1 million plus interest and costs. Additionally, President Ruto has handed over Sh2.6bn to tea farmers who were impacted by previous bank collapses.

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Friday 1:31 PMCapital Business

StanChart invites 629 former staff to file pension claims

StanChart invites 629 former staff to file pension claims

Standard Chartered Bank Kenya is inviting 629 former employees to file pension claims following a Supreme Court ruling that upheld a Sh7 billion pension dispute settlement. This decision brings closure to a four-year legal battle concerning underpaid benefits.

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Key Highlights

Standard Chartered Bank Kenya is inviting 629 former employees to file pension claims following a Supreme Court ruling that upheld a Sh7 billion pension dispute settlement. This decision brings closure to a four-year legal battle concerning underpaid benefits.

  • The case, Abdalla Osman and 628 Others vs. Retirement Benefits Authority and 11 Others, dates back to 2021.
  • The Supreme Court Vice President and Deputy Chief Justice Philomena Mwilu dismissed StanChart's application to halt a prior Court of Appeal ruling.
  • The verification and claims processing will begin on Monday, September 22, 2025, at Almary Green Business Park, off U.S.I.U Road in Nairobi.
  • Former employees or their beneficiaries need to present identification and employment records, with provisions for deceased appellants' estate administrators.
Thursday 10:24 PMCapital BusinessFirst

Ruto hands over Sh2.6bn to tea farmers hit by bank collapses

Ruto hands over Sh2.6bn to tea farmers hit by bank collapses
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Key Highlights

President William Ruto has overseen the return of KSh2.65 billion to tea farmers, recovered from the collapsed Chase Bank and Imperial Bank. This compensation aims to alleviate losses incurred by over 600,000 tea growers five years ago.

  • Most important fact or figure: KSh2.65 billion recovered for tea farmers.
  • Key person or organization involved: President William Ruto, Kenya Tea Development Authority (KTDA), and Kenya Deposit Insurance Corporation.
  • Notable detail that adds context: President Ruto emphasized that tea earnings rose from KSh138 billion in 2022 to KSh215 billion last year, with a projected KSh280 billion by 2027, attributing this to agricultural reforms and also stressed mandatory e-procurement to combat corruption, stating 40 percent of government funds are lost through procurement.
Friday 9:50 AMThe Kenyan Wall Street

Court Orders Coffee Firm’s Guarantors to Repay KCB Uganda More than US$1.1 Million

Court Orders Coffee Firm’s Guarantors to Repay KCB Uganda More than US$1.1 Million

The High Court in Kampala has ordered the guarantors of Great Lakes Coffee Company to repay KCB Bank Uganda over US$1.1 million, plus interest and costs, following the company's receivership. The ruling by Justice Susan Odongo affirmed the binding nature of personal guarantees signed by the shareholders.

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Key Highlights

The High Court in Kampala has ordered the guarantors of Great Lakes Coffee Company to repay KCB Bank Uganda over US$1.1 million, plus interest and costs, following the company's receivership. The ruling by Justice Susan Odongo affirmed the binding nature of personal guarantees signed by the shareholders.

  • US$1.1 million: Amount the guarantors were ordered to repay KCB Bank Uganda.
  • KCB Bank Uganda: The financial institution that won the case against Great Lakes Coffee Company's guarantors.
  • October 2024: The Ugandan government approved a 5.5 billion Ugandan Shillings bailout for Great Lakes Coffee Company, drawing public criticism.
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