Changamwe MP faces auction over Sh320m bank loan

Five properties listed for auction include Mwinyi’s two residential homes...

✨ Key Highlights

Five properties linked to Changamwe Member of Parliament Ahmed Mwinyi Shimbwa are slated for auction due to his logistics company's default on a substantial bank loan. The auction is scheduled for August 27.

Loan default of Sh320.2 million for Panal Freighters Limited.
Properties include two of Mr. Shimbwa's residential homes and are linked to Diamond Trust Bank (DTB).
The company, Panal Freighters Limited, is currently undergoing liquidation.

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