StanChart to pay former workers after Supreme Court loss

NAIROBI, Kenya, Sept 9 - Standard Chartered Kenya Limited has begun the process of paying about Sh7 billion to former employees after losing a pension Kenya breaking news | Kenya news today |..
✨ Key Highlights
After losing a Supreme Court case, Standard Chartered Kenya Limited has commenced the process of paying approximately Sh7 billion to over 600 former employees due to a pension miscalculation. The bank has initiated structured engagements to execute the judgment, assuring clients of its adequate capitalization to meet these obligations.
- Sh7 billion is the approximate amount Standard Chartered Kenya Limited is paying in pension dues.
- The Supreme Court of Kenya dismissed StanChart's appeal, upholding a Court of Appeal ruling.
- Deputy Chief Justice Philomena Mwilu ruled on the Supreme Court's dismissal, citing mere allegations of constitutional violations were insufficient.
- The case originated with the Retirement Benefits Authority (RBA) and went through the Retirement Benefits Tribunal, High Court, and Court of Appeal before reaching the Supreme Court.
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