Businessman Ahmed Mwinyi Shimbwa faces the auction of five properties linked to his logistics company, Panal Freighters Limited, over a defaulted loan of Sh320.2 million obtained nine years ago from Diamond Trust Bank (DTB).

• The auction is scheduled for August 27.
• The loan, initially approved in October 2017, was secured by properties including Mr. Mwinyi's two residential homes.
• Panal Freighters Limited entered liquidation in November 2023 after experiencing financial distress in 2019.