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Originally published by The Standard BusinessApril 24, 2026
6h ago
Why Cofek is seeking impeachment of receivers in Transcentury tax arrears
A receivership dispute between Transcentury PLC and Equity Bank over a Sh6 billion debt has taken a new turn, with a fresh case seeking the removal of the appointed receiver managers...
✨ Key Highlights
The consumer advocacy group Cofek is seeking the impeachment of receiver managers appointed by Equity Bank in a dispute over a Sh6 billion debt owed by Transcentury PLC.
- The core accusation against receiver managers George Weru and Muniu Thoithi is their alleged failure to balance the interests of Equity Bank against those of the government.
- Cofek Secretary General Stephen Mutoro is leading the charge for their removal.
- This development escalates the existing receivership dispute concerning the substantial debt owed by Transcentury PLC.
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